CONFIDENTIALITY, NON-CIRCUMVENTION & BROKER PROTECTION ADDENDUM
NON-CIRCUMVENTION; EXCLUSIVE BROKER PROTECTION
The Accepting Party acknowledges and agrees that The Affordable Housing Group (“Broker”) is the exclusive intermediary that introduced the Accepting Party to the Property, the Owner, and the ProposedTransaction.
The Accepting Party shall not, directly or indirectly, circumvent, avoid, bypass, or obviate the Broker in any manner, including but not limited to:
- Contacting the Owner or any of its principals, members, affiliates, representatives, or advisors directly;
- Submitting an offer, indication of interest, proposal, or term sheet directly to the Owner;
- Negotiating, discussing, or consummating any transaction involving the Property without the Broker’swritten consent.
This restriction applies whether such contact or transaction occurs during or after the term of this Agreement, and whether or not the Broker is ultimately involved in closing.
SURVIVAL; TAIL PERIOD
The obligations set forth herein shall survive the termination or expiration of this Agreement and shall remain in full force and effect for a period of twenty-four (24) months following the later of (i) the date the Accepting Party last received Evaluation Materials or (ii) the date discussions regarding the Proposed Transaction ceased.
BROKER COMPENSATION PROTECTION
In the event the Accepting Party, or any of its affiliates, related parties, or principals, acquires the Property or enters into any transaction with the Owner during the survival period described above, whether directly or indirectly, the Broker shall be deemed the procuring cause of such transaction and shall be entitled to its full brokerage fee, as if the Broker had been involved in the transaction through closing.
AFFILIATES AND RELATED PARTIES
For purposes of this Agreement, the term “Accepting Party” shall include any parent company, subsidiary, affiliate, fund, joint venture partner, co-investor, special purpose entity, or related party controlled by, controlling, or under common control with the Accepting Party.
EQUITABLE RELIEF
The Accepting Party acknowledges that a breach of this Addendum would cause irreparable harm to the Broker for which monetary damages alone may be inadequate. Accordingly, the Broker shall be entitled to injunctive relief, specific performance, and all other remedies available at law or in equity, including recovery of reasonable attorneys’ fees and costs.