Obligations of Broker Clause Examples
The "Obligations of Broker" clause defines the specific duties and responsibilities that the broker must fulfill under the agreement. Typically, this includes requirements such as acting in the best interests of the client, providing accurate and timely information, maintaining confidentiality, and complying with relevant laws and regulations. For example, the broker may be required to diligently seek suitable buyers or sellers, facilitate negotiations, and keep the client informed of material developments. This clause ensures that both parties have a clear understanding of the broker’s role and performance expectations, thereby reducing the risk of misunderstandings or disputes regarding the broker’s conduct.
Obligations of Broker. Broker covenants and agrees to:
A. maintain its broker's license with the State of Georgia and may maintain from time to time membership in the National Association of REALTORS®, the Georgia Association of REALTORS®, Inc., and various local Boards of REALTORS®.
B. hold Licensee’s real estate license. THIS FORM IS COPYRIGHTED AND MAY ONLY BE USED IN REAL ESTATE TRANSACTIONS IN WHICH IS INVOLVED AS A REAL ESTATE LICENSEE. UNAUTHORIZED USE OF THE FORM MAY RESULT IN LEGAL SANCTIONS BEING BROUGHT AGAINST THE USER AND SHOULD BE REPORTED TO THE GEORGIA ASSOCIATION OF REALTORS® AT (▇▇▇) ▇▇▇-▇▇▇▇.
C. make available to Licensee the use of Broker’s office and office management services at:
D. provide Licensee with a copy of all policies and procedures with which Licensee is expected to comply.
E. make available to Licensee all current listings except those listings which Broker, for valid business reasons, may place exclusively in the temporary possession of some other licensee. However, Licensee shall not be required to accept or service any listing offered by Broker. Broker shall not have the right or authority to direct that Licensee service particular parties or to restrict Licensee’s activities to particular areas.
F. pay over to Licensee the commissions or fees earned by Licensee after such commissions or fees are collected by Broker.
G. indemnify and hold Licensee harmless from and against any and all claims, causes of action, lawsuits, damages, liabilities, fines, costs, expenses and deductibles (hereinafter collectively referred to as “Claims”) arising out of or related to any violation of this Agreement by Broker, or Broker’s negligent acts, intentional acts of wrongdoing, or acts outside the scope of Broker’s authority or responsibilities hereunder, but only to the extent that there is not a policy of insurance which actually pays the Claim or reimburses the costs thereof to Licensee. This indemnification obligation shall specifically survive the termination of this Agreement.
Obligations of Broker a. BROKER shall maintain its status as a duly registered property broker of general commodities in good standing, and provide CONTRACTOR a limited, revocable right to perform the Services under such registered status during the term of this Agreement.
b. BROKER, at its sole expense, unless otherwise stated herein, shall maintain commercial insurance policies as required by applicable law for operation as a registered property broker. In addition, BROKER shall maintain a contingent cargo liability policy with limits not less than ONE HUNDRED THOUSAND DOLLARS ($100,000).
i. If CONTRACTOR requests higher limits of commercial auto liability policy(ies) of insurance to satisfy one or more of Contractor’s Customer Accounts, BROKER reserves the right to charge and recover any increased premiums and associated costs to CONTRACTOR.
ii. If CONTRACTOR requests higher limits of contingent cargo policy(ies) of insurance to satisfy one or more of Contractor’s Customer Accounts, BROKER reserves the right to charge and recover any increased premiums and associated costs to CONTRACTOR.
c. BROKER, at its sole expense, shall maintain a Surety Bond (Form BMC-84) or Trust Fund Agreement (Form BMC-85) in the minimum amount of $75,000, or as otherwise required by applicable law(s).
d. BROKER, at its sole expense, unless otherwise stated herein, shall maintain commercial general liability insurance with limits not less than ONE MILLION DOLLARS ($1,000,000).
i. If CONTRACTOR requests higher limits of commercial general liability policy(ies) of insurance to satisfy one or more of Contractor’s Customer Accounts, BROKER reserves the right to charge and recover any increased premiums and associated costs to CONTRACTOR
e. BROKER, at its sole expense, shall provide and maintain a technology system / transportation management system (“TMS”), and provide CONTRACTOR with a limited, revocable right to use the same to facilitate CONTRACTOR’s performance of the Services and to comply with Broker’s Policies. CONTRACTOR shall be responsible for CONTRACTOR’s local technology system(s), hardware, and systems applications adequate and sufficient to support CONTRACTOR’s connectivity to, and use of, BROKER’s technology system / transportation management system(s).
f. BROKER shall establish payment terms and credit limits, conditions, and other terms of payment in its sole discretion, using commercially reasonable and available information. BROKER shall maintain a trade credit policy applicable to Co...
Obligations of Broker. The Broker accepted and agreed to sell the above- mentioned business/real estate to the best of its efforts. The Seller agreed to give Broker the irrevocable and exclusive right to sell the said business. The Seller agreed that title purchase of the above-mentioned business, shall include, but not limited to, a total ownership or partial ownership in the business and, accounts of the business.
Obligations of Broker. Section 2.1. Promotion and Sale of MetLife Products. Broker shall promote, market and sell MetLife Products.
Obligations of Broker. A. Broker is required to adhere to the following performance minimums:
1) Minimum performances, outlined in the "SERVICES AND RENTAL AGREEMENT," must be maintained quarterly by 75 percent of the Qxpress(TM) terminals placed by Q Comm, Inc. in Broker's behalf.
2) Broker must place a minimum of sixty (60) Qxpress(TM)terminals in each twelve (12) month period.
3) If these performance minimums are not met, Q Comm, Inc. may terminate the Broker Agreement at any time.
B. If this Agreement is terminated by either party, Q Comm, Inc. will continue to support the existing Qxpress(TM) terminals under all existing contract terms for a period of 180 days from the date of notice as defined in paragraph XVIII ("Notices").
C. Broker accepts the "SERVICES AND RENTAL AGREEMENT" and ACH Agreement in effect at the time of this Agreement. (Schedule "B"). Q Comm's "SERVICES AND RENTAL AGREEMENT" and ACH Agreement are subject to change with five (5) day notice to Broker. Hargray may terminate upon ten (10) day notice if the terms of this change are undesirable to Hargray.
D. Broker must obtain Q Comm's written approval of all content and artwork for any prepaid calling cards, packaging and point-of-purchase materials as a condition to activation of PINs. Q Comm shall have the right to change, add, or modify the copy in any way. All modifications by Broker to pre-approved content or artwork must also be approved in writing by Q Comm.
E. Q Comm Prepaid Phone Card "Custom/Private Label Card Terms & Conditions" (Schedule "C") must be clearly disclosed on the back of each custom prepaid calling card, insert or point-of-purchase material.
Obligations of Broker. With respect to each Sellers Plan, Broker will have the following obligations:
(a) Broker will sell the Plans Shares for the account of each Seller according to the terms of the Seller’s Sellers Plan.
(b) Broker will not sell any Stock when broker is in possession of any material nonpublic information concerning Isis or its securities.
(c) Once a Sellers Plan becomes effective, Broker will not allow Seller to exercise, any influence over how, when or whether to effect sales of Stock pursuant to the Sellers Plan.
(d) Broker will withdraw Stock from Seller’s Plan Account in order to effect sales of Stock under Seller’s Sellers Plan. Broker will exercise Options in accordance with the instructions set forth in the applicable Sellers Plan.
(e) Broker will deliver the proceeds from each sale of unrestricted Stock effected under a Sellers Plan to Seller’s Account on a normal three-day settlement basis less any commission, commission equivalent, ▇▇▇▇-up or differential and other expenses of sale to be paid to Broker. With respect to each sale of restricted Stock, Broker will deliver the net proceeds from such sales as soon as reasonably practicable.
(f) Broker will, in connection with the exercise of Options, remit to Isis the exercise price thereof along with such amounts as may be necessary to satisfy withholding obligations. These amounts will be deducted from the proceeds of the sale of the Stock.
(g) To the extent that any Stock remains in the Plan Account upon termination of the Sellers Plan, Broker agrees to return such Stock promptly to the Seller.
(h) Broker agrees to conduct all sales pursuant to each Sales Plan in accordance with the manner of sale requirement of Rule 144 of the Securities Act and in no event will Broker effect any sale if such sale would exceed the then-applicable amount limitation under Rule 144 or will violate the “short-swing profit” provisions of Section 16 of the Exchange Act. Broker will file Forms 144 on behalf of Seller as required by applicable law.
(i) Promptly after each Sale, Broker will advise Seller in writing as to the number of shares of Stock sold, the date of each sale and the sales price. In addition, if a Seller is an officer of Isis who is subject to the reporting requirements of Section 16 under the Exchange Act, then Broker will provide Isis’ stock administrator the details of each Trade for such Seller within 1 business day of such Trade, including the number of Plan Shares sold, the applicable sales price and ...
Obligations of Broker. (a) Broker's conduct hereunder shall at all times be in compliance with applicable law.
(b) Broker shall maintain or cause to be maintained in full force and effect pursuant to the Act and applicable regulations of the CFTC and NFA the registration of any natural person employed by or associated with it as an "associated person" (as such term is interpreted by the CFTC), and Broker shall not allow any natural person employed by or associated with it to serve as an associated person unless such person is validly registered as an associated person.
(c) Broker shall learn all essential facts relative to each Account and to every Customer. Each new Account created for a Customer shall be approved in writing by a principal of Broker.
(d) Broker shall maintain compliance and supervisory procedures which are adequate to assure compliance by Broker and its associated persons, employees, and agents with applicable law and procedures established from time to time by LIT. Without limiting the generality of the foregoing, such compliance and supervisory procedures shall cover the opening, approval, and monitoring of Accounts, including review of order and entity procedures for and trading activity in Accounts, including review of order entity procedures for and trading activity in Accounts; supervision of trading advice and recommendations provided to Customers; registration of associated persons with the CFTC and applicable self-regulatory organizations; and supervision of special Accounts such as discretionary accounts, commodity pool accounts, option trading accounts, and accounts of employees or officers of Broker or of other futures commission merchants, introducing brokers, securities broker-dealers, self-regulatory organizations, or financial institutions.
(e) Broker shall furnish LIT with all pertinent information with respect to each Account. Without limiting the generality of the foregoing, Broker agrees to furnish LIT for each Account (i) the name, address, and principal occupation or business of the beneficial owner for whom the Account is maintained, the signature of such beneficial owner (or of the persons authorized to act on behalf of such beneficial owner), the name and address of any other persons who guarantee the Account, exercise any trading control or otherwise direct trading in the Account, or have a direct or indirect interest in the Account; (ii) a signed copy of all written agreements with respect to the Account; (iii) a copy of all account c...
Obligations of Broker. (a) The Broker agrees to diligently work in an endeavour to identify and introduce Clients for the Company.
(b) The Broker will not make any representations, warranties, undertakings or commitments binding the Company without the prior written consent of the Company.
(c) The Broker will not have the capacity to enter into any legal agreement (whether oral or written) with any Client on behalf of the Company. The Company shall have the sole discretion to negotiate and accept the terms of any legal agreement with any Client.
(d) The Broker shall not carry additional competing lines without the full knowledge and consent of the Company.
(e) The Broker agrees to keep all of the Company’s business secrets confidential at all times during and after the term of this Agreement. The Company’s business secrets include any information regarding the Company’s clients, manufacturers suppliers, finances, research, development, manufacturing processes, or any other technical or business information. The Broker agrees not to make any unauthorised copies or records of any of the Company’s business secrets or information nor to remove any of the Company’s business secrets or information from the Company’s facilities without the Company’s consent. Any breach of this Clause shall entitle the Company to injunctive relief and/or liquidated damages and/or account of profits for any said breach, or otherwise.
(f) Nothing contained herein shall obligate the Company to negotiate or close any sale opportunity presented by the Broker.
Obligations of Broker. Broker agrees to:
a. pay to ABAIS any and all premium amounts hereunder within the time specified in the invoice, or if not specified, within thirty (30) days after receipt of the invoice;
b. maintain errors and omissions insurance, covering Broker and each of the Broker’s employees, in the amount of at least $300,000;
c. present each retail Broker or agent all notices that ABAIS determines legally necessary and all informational materials ABAIS asks Broker to provide;
d. pay all licensing fees, countersignature fees or surplus lines taxes or other fees that are due and payable as a consequence of any policy issued as a result of this Agreement;
e. instruct each retail Broker or agent to immediately report to ABAIS all claims or losses, immediately refer to ABAIS any inquiry or report concerning any claim or loss, and cooperate fully in ABAIS’ investigation of any claim or loss;
f. allow ABAIS full access to its books and records for the purpose of verifying policies issued, or premiums, commissions, or fees due to the insurance company and/or to ABAIS as a result of this Agreement; and
g. comply with all applicable laws relating to the performance of this Agreement, including, without limitation, any privacy and Broker licensing laws.
Obligations of Broker. 1. The Broker, from time to time, enters into brokerage agreements ("Brokerage Agreement") with persons and entities wishing to buy or sell real estate ("Customers").
2. The Broker, from time to time, will assign to Salesperson specific properties that its Customers want to either buy or sell ("Listing Assignments"). Such Listing Assignments shall be made by written communication (email is permissible) which shall describe the property(ies) involved, state whether the Customer wants to buy or sell, and, in cases where the compensation to be paid to the Salesperson differs from the standard compensation payable under this Agreement (Section Three below), include a description of the amount and timing of the compensation to be paid to the Salesperson in relation to those properties. In case of conflict, the compensation described in a Listing Assignment shall supersede the compensation described in Section Three of this Agreement. Unless a particular Listing Assignment states otherwise, the Broker shall not simultaneously assign the same property to multiple sales associates.
3. Broker will provide the Salesperson at the Broker's place of business with a desk, a telephone number,an e-mail address, an internet connection, business cards, access to a photocopy machine and access to a printer for use in carrying out the activities described in this Agreement..