Opinion ID: 2325947
Heading Depth: 2
Heading Rank: 2

Heading: The pertinent provisions of the brokerage agreement are as follows:

Text: We, the undersigned, Roger L. Stevens and Stevens Development Corporation, jointly and severally agree to pay you the sum of One Hundred Thousand (100,000) Dollars as your brokerage commission under and pursuant to the conditions hereinafter set forth. Within three (3) days after we, the undersigned, Roger L. Stevens and Stevens Development Corporation, or either of us or the assignee, nominee or agent of the undersigned or of either of us, acquire by purchase or otherwise at least 25% of the outstanding stock of The Outlet Company or assets of The Outlet Company constituting at least 25% in book value of the assets of The Outlet Company, as the case may be, we shall pay you the said brokerage commission in the sum of One Hundred Thousand (100,000) Dollars in the following manner: within the three (3) day period hereinbefore set forth the sum of Twenty Five Thousand (25,000) Dollars; the sum of Eighteen Thousand Seven Hundred Fifty (18,750) Dollars at the end of one year after date of said purchase or acquisition as above set forth, and a like sum of Eighteen Thousand Seven Hundred Fifty (18,750) Dollars at the end of each year thereafter until four (4) consecutive annual payments in the sum of Eighteen Thousand Seven Hundred Fifty (18,750) Dollars each, amounting to the total sum of Seventy Five Thousand (75,000) Dollars, shall have been fully paid and satisfied to you or your legal representatives. Each of said payments shall be made by a certified check or cashier's check in New York or Hartford funds made payable to you or your order. In the event that the undersigned or either of us or the assignee, nominee or agent of the undersigned or of either of us shall not acquire by purchase or otherwise at least 25% of the outstanding stock of The Outlet Company or assets constituting at least 25% in book value of the assets of The Outlet Company, as contemplated by the foregoing paragraph, for any reason whatsoever (including a default by the purchaser under an agreement for the purchase of such stock or assets), the undersigned shall not have any liability to you for brokerage commissions in respect of said transaction.