Broker List Sample Clauses
The Broker List clause defines and identifies the specific brokers authorized to act on behalf of the parties in a transaction. Typically, this clause will name the brokers involved and may outline their roles, responsibilities, or compensation arrangements. By clearly listing the brokers, the clause helps prevent disputes over representation and commission, ensuring all parties are aware of who is entitled to compensation and who is authorized to negotiate on their behalf.
Broker List. On or prior to the first business day of each month, the Trustee shall consider brokers recommended by the Advisor and shall approve, to the extent deemed appropriate by the Trustee, a list of not more than one hundred (100) brokers through whom transactions with respect to the assets in the Subaccount may be effected during the following month (the “Broker List”). From time to time by means of Valid Notice (as defined below), the Advisor may request an amendment (the “Advisor’s Amendment”) to the Broker List. The Trustee shall exercise reasonable efforts to notify the Advisor whether or not the Trustee authorizes the Advisor’s Amendment to the Broker List by means of Valid Notice within one (1) complete business day (i.e., not later than the same time of day on the next business day) following its receipt of the Advisor’s Amendment and if the Trustee does not so notify the Advisor, then the Advisor’s Amendment shall be deemed to be approved at the conclusion of such one business day period. The Trustee may effect an amendment to the Broker List at any time upon Valid Notice to the Advisor.