Auctioneer's Compensation Clause Samples

Auctioneer's Compensation. Provided that Auctioneer has paid the Initial Deposit to IBIO pursuant to the terms of the immediately preceding Section 9b, IBIO hereby agrees that: (i) Auctioneer shall retain the portion of the Sale Proceeds in an amount not to exceed the Guaranteed Amount; and (ii) Auctioneer shall retain the portion of Sale Proceeds, if any, after subtracting the Guaranteed Amount there from, in the amount not to exceed the Expenses, as defined in Section 5. Auctioneer shall also charge Purchasers and retain a buyer’s premium (the “Buyer’s Premium”) equal to a percent to be determined by Auctioneer of the gross purchase price as compensation to Auctioneer for all Equipment sold prior to, during and after the Auction (including any Negotiated Sales), which shall be payable by each Purchaser in addition to the purchase price bid. Auctioneer intends to charge a Buyer’s Premium of eighteen percent (18%), which shall not be increased without the prior written consent of IBIO.