Representation; Payment Clause Samples
The 'Representation; Payment' clause establishes the obligations of one party to accurately represent their ability and intent to make payments as required under the agreement. In practice, this clause typically requires the paying party to confirm that they have the necessary authority and financial resources to fulfill payment obligations, and may also outline the timing and method of such payments. Its core function is to ensure that the receiving party can rely on the payer's assurances, thereby reducing the risk of non-payment and promoting trust between the parties.
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Representation; Payment. Landlord and Tenant each represent to the other that in the negotiation of this Lease it has not dealt with any real estate broker other than ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ of Connecticut, Inc. and Prime Real Estate, LLC (collectively, the “Broker”). Each party shall indemnify the other and hold it harmless from any and all losses, damages and expenses arising out of any inaccuracy or alleged inaccuracy of the above representation, including court costs and reasonable attorneys’ fees. Landlord shall pay Broker pursuant to a separate commission agreement and hereby agrees to indemnify and hold harmless Tenant for any claims for commissions or other sums, and any losses, damages and expenses, including court costs and reasonable attorneys’ fees, arising from claims made by Broker. Landlord shall have no liability for brokerage commissions arising out of a sublease or assignment by Tenant, and Tenant shall indemnify Landlord and hold it harmless from any and all liability for brokerage commissions arising out of any such sublease or assignment.
Representation; Payment. Landlord and Tenant each represent to the other that in the negotiation of this Lease it has not dealt with any real estate broker, other than ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ of Connecticut, Inc., and ▇▇▇▇▇▇ Comfort & Sons, Inc. (collectively, “Broker”). Each party hereby agrees to indemnify, defend and hold the other harmless from any and all liabilities, losses, damages, third party claims and expenses arising out of any inaccuracy or alleged inaccuracy of the above representation, including court costs and reasonable attorneys’ fees. Landlord shall pay Broker pursuant to a separate commission agreement(s) and Landlord shall and does hereby indemnify, defend and hold Tenant harmless from any and all liabilities, losses, damages, claims and expenses for any failure to pay such brokerage commissions to Broker. Landlord shall have no liability for brokerage commissions arising out of a sublease or assignment by ▇▇▇▇▇▇ and Tenant shall and does hereby indemnify, defend and hold Landlord harmless from any and all liabilities, losses, damages, claims and expenses for any actual or claimed brokerage commissions arising out of any such sublease or assignment. The indemnities in this Section shall survive the expiration or earlier termination of this Lease.
Representation; Payment. Landlord and Tenant each represent to the other that in the negotiation of this Lease it has not dealt with any real estate broker, other 71 than ▇▇▇▇▇ ▇▇▇▇ LaSalle, and ▇▇▇▇▇▇ Comfort & Sons, Inc. (collectively, "Broker"). Each party hereby agrees to indemnify, defend and hold the other harmless from any and all liabilities, losses, damages, claims and expenses arising out of any inaccuracy or alleged inaccuracy of the above representation, including court costs and reasonable attorneys' fees. Landlord shall pay Broker pursuant to a separate commission agreement(s). Landlord shall have no liability for brokerage commissions arising out of a sublease or assignment by Tenant and Tenant shall and does hereby indemnify, defend and hold Landlord harmless from any and all liabilities, losses, damages, claims and expenses for any actual or claimed brokerage commissions arising out of any such sublease or assignment. The indemnities in this Section shall survive the expiration or earlier termination of this Lease.