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Any violation of the terms of this Paragraph shall entitle the affected party to reasonable attorney fees and litigation costs in addition to all other available remedies, all of which remain reserved.
The auctioneer also may reject any bid and withdraw the lot from sale if the auctioneer decides either that any opening bid is below the reserve (see paragraph 5 below) of the lot or article or that an advance is insufficient. Lots may be subject to a reserve which is the confidential minimum price below which the lot will not be sold.
Profiles, in addition, reserves the right to impose a late charge of fifteen percent (15%) per year on the Purchase Price if Buyer does not make full payment in accordance herewith. Bidding by telephone, facsimile-transmission (fax-in), on-line, or absentee bidding (advance written bids submitted by mail) are offered solely as a convenience and permitted subject to advance arrangements, availability, and Profiles’ approval which shall be exercised at Profiles’ sole discretion.
Profiles and Buyer acknowledge and agree that these charges are reasonably imposed to partially compensate Profiles for losses and expenses associated with any such delays. Neither Profiles nor its agents or employees shall be held liable for the failure to execute bids or for errors relating to any transmission or execution thereof. Failure of the Bidder/Buyer to comply with any of these Conditions of Sale or the terms of the Registration Form, is an event of default.
Profiles has been authorized by the seller or consignor to retain, as partial remuneration, the premium set forth as number (2) in this paragraph.
Unless otherwise agreed in a writing signed by Profiles, payment in full is due within seven calendar days of the auction or within five calendar days of the invoice date, whichever is later. Profiles reserves the right to withdraw any lot before or at the time of the auction, and/or to postpone the auction of all or any lots or parts thereof, for any reason.