Common use of Premium Service Clause in Contracts

Premium Service. (a) There is no set-up fee or management fee. The Landlord agrees to let the Property to the Agent when the Agent has found suitable prospective occupiers, and instead of set-up and management Fees, the Agent is entitled to keep the difference between the rent reserved by the Lease and the rent payable by the occupiers. (b) If the Agent finds occupiers for the Property and the Landlord does not enter into a Lease the Landlord will pay the Agent the Managed Service set-up fee (see clause 3.1.2(c)).