Section 1 — Confidentiality
Prospect understands that all dealings occur through Broker. This Agreement covers seller's proprietary information regarding operations, properties, personnel, financial and other matters which are non-public, confidential or proprietary in nature.
The Proprietary Information will be kept confidential and shall not be disclosed in any manner whatsoever, in whole or in part, without written consent. PROSPECT shall not retain any copies of the Proprietary Information.
Section 2 — Informational Purposes
Any and all information provided to PROSPECT is provided for informational purposes only. BROKER does not make any representations and/or warranties as to the accuracy. Prospect should seek independent professional advice and consult an attorney and/or certified public accountant.
Section 3 — Disclosure to Third Parties
If prospect discloses opportunities to third parties who purchase without broker assistance, prospect is responsible for payment of BROKER'S compensation which would have been paid on the listed selling price or minimum compensation, whichever is greater.
Section 4 — Direct Dealing Restriction (2 years)
For two years from the date of this Agreement, PROSPECT agrees not to deal directly or indirectly with the Seller without broker consent. Violations result in liability for BROKER's commission payable on the sales price or minimum commission due under the Listing Agreement with Seller, whichever is greater.
Prospect appoints broker its attorney in fact to execute all documents necessary to place a lien on the business assets to collect its compensation.
Section 5 — Governing Law
Governed by state law where property located. Any breach shall result in the prevailing party being entitled to receive all of its reasonable attorney's fees, costs, and expenses. Disputes determined by a Judge sitting without a jury.
Section 6 — Seller as Intended Beneficiary
The Seller is the intended beneficiary of all covenants of PROSPECT. PROSPECT warrants: PROSPECT IS NOT A BROKERAGE COMPANY, NOR DOES HE REPRESENT OR WORK FOR ANOTHER BROKER, DIRECTLY OR INDIRECTLY, does not represent a third party, governmental agency or competitor.
Section 7 — No Future Claims; Purchase Window
The buyer agrees that the buyer will not claim or sue The Saleh Group or any affiliates or its agents regarding the business after he/she purchases. If you want to purchase the business, you must purchase it through The Saleh Group within a year from the date of this agreement.
Upon signing this Agreement, a confidential memorandum on each business requested may be provided. We will not accept this form if it is not filled out completely. Electronic signatures are accepted.
