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Brokers contract clause examples

Within fifteen (15) days after the expiration of the applicable thirty (30)-day period for the mutual agreement of Landlord and Tenant as to the fair market monthly rental, each party hereto, at its cost, shall engage a real estate broker to act on its behalf in determining the fair market monthly rental. The brokers each shall have at least ten (10) years’ experience with leases in first-class high-rise office buildings in Mid-town Manhattan and shall submit to Landlord and Tenant in advance for Landlord’s and Tenant’s reasonable approval the appraisal methods to be used. If a party does not appoint a broker within such fifteen (15)-day period but a broker is appointed by the other respective party, the single broker appointed shall be the sole broker and shall set the fair market monthly rental. If the two brokers are appointed by the parties as stated in this paragraph, such brokers shall meet promptly and attempt to set the fair market monthly rental. If such brokers are unable to agree within thirty (30) days after appointment of the second broker, the brokers shall elect a third broker meeting the qualifications stated in this paragraph within ten (10) days after the last date the two brokers are given to set the fair market monthly rental. Each of the parties hereto shall bear one-half (1/2) the cost of appointing the third broker and of the third broker’s fee. The third broker shall be a person who has not previously acted in any capacity for either party.

obligations payable to clearing agencies, brokers or dealers in connection with the purchase or sale of securities in the ordinary course of business;

“arranged by federal funds brokers on such day (or, if such day is not a Business Day, for the immediately preceding Business Day)”

Fundamental Representations” shall mean # with respect to the Ceding Company, the representations and warranties of the Ceding Company contained in [Section 16.01(a)] (“Organization and Qualification”), [Section 16.01(b)] (“Authorization”) and [Section 16.01(l)] (“Brokers and Financial Advisors”), and # with respect to the Reinsurer, the representations and warranties of the Reinsurer contained in [Section 16.03(a)] (“Organization and Qualification”) and [Section 16.03(b)] (“Authorization”) and [Section 16.03(f)] (“Brokers and Financial Advisors”).

Fundamental Representations” means each of the representations and warranties contained in Sections 4.1 (Organization; Standing), 4.2 (Validity of Agreement; Power), 4.3 (Capitalization) and 4.17 (Brokers).

customary rights of lien and setoff with respect to deposits with banks or other depository institutions and with respect to securities and cash held by brokers and dealers;

§6.24 Brokers. None of the Credit Parties has engaged or otherwise dealt with any broker, finder or similar entity in connection with this Agreement or the Loans contemplated hereunder.

“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal to, for each day during such period, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by Agent from three Federal funds brokers of recognized standing selected by it.

Section # Brokers. No broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Creditor.

Section # Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, finders’ fees or similar payments by any Backstop Party relating to this Agreement or the transactions contemplated hereby.

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