IANAL but
"7.2. This Agreement may be terminated, without notice, by:
(a) the OMC where:
(i) the Agent is in material breach of the Agreement and fails to remedy
the breach within 30 days after the OMC serves a written notice on the
Agent specifying the particulars of the breach; or
(ii) the Agent is an individual who is declared bankrupt; or
(iii) the Agent is a body corporate which is wound up or liquidated; or
(iv) the Agent is a partnership and any one of the partners is declared
bankrupt; or
(v) the Agent's licence is suspended, not renewed or revoked by the
Property Services Regulatory Authority; or
(vi) the Agent has a conflict of interest in relation to this Agreement and
the OMC does not consent, in writing, to the Agent continuing to act for
the OMC.”
unless you can substantiate breaches of any of these clauses then you are snookered.
Hoist by your own petard unfortunately IMHO.
I can't answer your question I'm afraid other than to comment that in my layman's opinion the agreement seems biased in favour of the agentThanks for the reply, you may be right, unfortunately this agreement was signed before I came on as a director and even worse it's for a duration of 3 years.
Maybe I'm not reading this right, but even if we fulfill any of the conditions of clause 7.2, from clause 8, we are required to pay in full the fees and charges due under the agreement. Why have all the allowable conditions for termination, if the OMC is due all fees regardless?
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