Owners’ default. In relation to any Listing Agreement, if the Owner has entered into a Sale and Purchase Agreement in relation to the Vessel but subsequently, in breach of that agreement, fails to complete the purchase in circumstances in which the purchaser is entitled to the return of all or substantially all of the deposit, the Owner shall pay the Broker the Agreed Commission in full on the Asking Price.
Appears in 2 contracts
Sources: Brokerage Sales Agreement, Brokerage Sales Agreement
Owners’ default. In relation to any Listing Agreement, if the Owner has entered into a Sale and Purchase Agreement in relation to the Vessel but subsequently, in breach of that agreement, fails to complete the purchase in circumstances in which the purchaser is entitled to the return of all or substantially all of the deposit, the Owner shall pay the Broker the Agreed Commission in full on the Asking Price.
Appears in 2 contracts
Sources: Brokerage Agreement, Central/Sole Listing Agreement
Owners’ default. In relation to any Central/Sole Listing AgreementAgreements, if the Owner has entered into a Sale and Purchase Agreement in relation to the Vessel but subsequently, in breach of that agreement, fails to complete the purchase in circumstances in which the purchaser is entitled to the return of all or substantially all of the deposit, the Owner shall pay the Broker the Agreed Commission in full on the Asking Price.
Appears in 1 contract
Sources: Brokerage Agreement