Common use of By Agent Clause in Contracts

By Agent. (a) The Agent may at any time without reason terminate this agreement by giving to the Direct Standard Partner not less than 2 Business Days’ written notice. (b) On termination by the Agent: (i) the Direct Standard Partner may retain (or if not then paid will be paid) that part of the Direct Standard Partner Commission then paid or payable in respect of that Sales Contract; (ii) on completion of the Sales Contract in respect of the particular Unit the Agent will pay to the Direct Standard Partner the Direct Standard Partner Commission in respect of that Unit less any part of the Direct Standard Partner Commission already paid.