Common use of COMMISSION AND PAYMENT Clause in Contracts

COMMISSION AND PAYMENT. 4.1 The Introducer shall be entitled to Commission if a Prospective Client Introduced by the Introducer enters into a Relevant Contract. 4.2 The amount of commission payable shall be [PERCENTAGE]% of Spigo's Net Income received under each Relevant Contract (as it may be renewed, extended or amended) during a period of 2 years from its Commencement Date (Commission). 4.3 Spigo shall promptly notify the Introducer in writing of the following: (a) the date it enters into a Relevant Contract; (b) the amount of the payments due for Services under it; and (c) the dates on which payments for such Services are payable, no later than 5 Business Days after it enters into such Relevant Contract. 4.4 Any Commission payable pursuant to clause 4.2 shall be due to the Introducer within 14 days of the end of the Quarter in which Spigo received the corresponding payment for Services. If Spigo receives payment under any Relevant Contract in instalments, then Commission shall be calculated and paid on such instalments as they are received by Spigo. 4.5 Spigo shall within 14 days of the end of the Quarter in which Spigo received the corresponding payment for Services send to the Introducer a written statement setting out, in respect of such Quarter, in respect of each Relevant Contract: (a) the Commission payable to the Introducer; (b) the payments for Services received and details of any sums due which have not been received; and (c) how the Commission has been calculated, including details of all deductions made in determining Net Income. 4.6 The Introducer shall invoice Spigo for the Commission payable as per Xxxxx's statement submitted pursuant to clause 4.5, together with any applicable VAT and Spigo shall pay such invoice within 30 days of receipt. 4.7 Commission shall be payable to the Introducer in the currency in which it is received by Spigo. 4.8 All sums payable under this agreement: (a) are exclusive of value added tax or other applicable sales tax, which shall be added to the sum in question; (b) shall be paid in full without any deductions (including deductions in respect of items such as income, corporation, or other taxes, charges and/or duties) except where the payor is required by law to deduct withholding tax from sums payable to the payee. If the payor is required by law to deduct withholding tax, then the payor and the payee shall co-operate in all respects and take all reasonable steps necessary to: (c) lawfully avoid making any such deductions; or (d) enable the payee to obtain a tax credit in respect of the amount withheld. 4.9 If Spigo fails to make any payment due to the Introducer under this agreement by the due date for payment, then, without limiting the Introducer's remedies under clause 8, Spigo shall pay interest on the overdue amount at the rate of 4% per annum above the Bank of Valetta (BOV) base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. Spigo shall pay the interest together with the overdue amount. 4.10 Spigo shall keep separate accounts and records giving correct and adequate details of all Relevant Contracts entered into by Spigo, all payments received under them and all deductions made in the calculation of Net Income. Spigo shall permit the duly appointed representatives of the Introducer at all reasonable times, but no more than once in any 12 months’ period, to inspect all such accounts and records and to take copies of them. For the avoidance of doubt, all rights in such records (including database right and copyright) shall belong to Spigo. 4.11 If any dispute arises as to the amount of Commission payable by Spigo to the Introducer, the same shall be referred to Spigo's auditors for settlement and their decision, save in the case of manifest error, shall be final and binding on both parties. 4.12 No Commission or other compensation shall be payable where Spigo contracts with a third party in the circumstances described in clause 2.9. 4.13 Termination of this agreement, howsoever arising, shall not affect the continuation in force of this clause 4 and Xxxxx's obligation to pay Commission to the Introducer in accordance with it.

COMMISSION AND PAYMENT. 4.1 5.1 The Introducer shall be entitled to Commission if a Prospective Client Introduced by the Introducer enters into a Relevant Contract. 4.2 5.2 The amount of commission payable shall be [PERCENTAGE]% of Spigothe Supplier's Net Income received under each Relevant Contract (as it may be renewed, extended or amended) during a period of 2 years [NUMBER] [months OR years] from its Commencement Date commencement date (Commission). 4.3 Spigo 5.3 The Supplier shall promptly notify the Introducer in writing of the following: (a) the date it enters into a Relevant Contract; (b) the amount of the payments due for Services under it; and (c) the dates on which payments for such Services are payable, no later than 5 [3] Business Days after it enters into such Relevant Contract. 4.4 Any 5.4 Except where the procedures set out in clause 5.5 and clause 5.6 below have been followed, all Commission payable pursuant to clause 4.2 5.2 shall be due to the Introducer (whether invoiced or not) within 14 [NUMBER] days of the end of the Quarter [month OR Quarter] in which Spigo the Supplier received the corresponding payment for Services. If Spigo the Supplier receives payment under any Relevant Contract in instalments, then Commission shall be calculated and paid on such instalments as they are received by Spigothe Supplier. 4.5 Spigo 5.5 The Supplier shall within 14 [NUMBER] days of the end of the Quarter [month OR Quarter] in which Spigo the Supplier received the corresponding payment for Services send to the Introducer a written statement setting out, in respect of such [month OR Quarter], and in respect of each Relevant Contract: (a) the Commission payable to the Introducer; (b) the payments for Services received and details of any sums due which have not been received; and (c) how the Commission has been calculated, including details of all deductions made in determining Net Income. 4.6 5.6 The Introducer shall invoice Spigo the Supplier for the Commission payable as per Xxxxxthe Supplier's statement submitted pursuant to clause 4.55.5, together with any applicable VAT and Spigo VAT, in which case, notwithstanding clause 5.4 above, the due date for payment by the Supplier of such Commission shall pay such invoice within 30 be [30] days from date of receipt[receipt of] invoice. 4.7 5.7 Commission shall be payable to the Introducer [in the currency in which it is received by Spigothe Supplier OR in pounds sterling]. 4.8 5.8 All sums payable under this agreement: (a) are exclusive of value added tax or other applicable sales tax, which shall be added to the sum in question; (b) shall be paid in full without any deductions (including deductions in respect of items such as income, corporation, or other taxes, charges and/or duties) except where the payor is required by law to deduct withholding tax from sums payable to the payee. If the payor is required by law to deduct withholding tax, then the payor and the payee shall co-operate in all respects and take all reasonable steps necessary to: (ci) lawfully avoid making any such deductions; or (dii) enable the payee to obtain a tax credit in respect of the amount withheld. 4.9 5.9 If Spigo the Supplier fails to make any payment due to the Introducer under this agreement by the due date for payment, then[, without limiting the Introducer's remedies under clause 8, Spigo 9,] the Supplier shall pay interest on the overdue amount at the rate of 4% [4]% per annum above the Bank of Valetta (BOV) [FULL NAME OF BANK]'s base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. Spigo The Supplier shall pay the interest together with the overdue amount. 4.10 Spigo 5.10 The Supplier shall keep separate accounts and records giving correct and adequate details of all Relevant Contracts entered into by Spigothe Supplier, all payments received under them and all deductions made in the calculation of Net Income. Spigo The Supplier shall permit the duly appointed representatives of the Introducer at all reasonable times[, but no more than once in any 12 months’ month period, ,] to inspect all such accounts and records and to take copies of them. For the avoidance of doubt, all rights in such records (including database right and copyright) shall belong to Spigothe Supplier. 4.11 5.11 If any dispute arises as to the amount of Commission payable by Spigo the Supplier to the Introducer, the same shall be referred to Spigothe Supplier's auditors for settlement and their decision, save in the case of manifest error, shall be final and binding on both parties. 4.12 5.12 No Commission or other compensation shall be payable where Spigo where: (a) the Supplier contracts with a third party in the circumstances described in clause 2.9; and (b) [INSERT ANY OTHER EXCLUSIONS]. 4.13 5.13 Termination of this agreement, howsoever arising, shall not affect the continuation in force of this clause 4 5 and Xxxxxthe Supplier's obligation to pay Commission to the Introducer in accordance with it.

COMMISSION AND PAYMENT. 4.1 The Introducer shall 7.1 We will be entitled to Commission commission if a Prospective Client Introduced by prospective buyer we introduce during the Introducer term enters into a Relevant Contractrelevant contract which is or becomes unconditional at any time during or within 6 months (or 2 years if no other agent is involved) after the expiration or termination of the term. 4.2 The amount of commission payable shall be [PERCENTAGE]% of Spigo's Net Income received under each Relevant Contract (as it may be renewed7.2 No later than 3 business days after you enter into a relevant contract, extended or amended) during a period of 2 years from its Commencement Date (Commission). 4.3 Spigo shall you must promptly notify the Introducer us in writing of the following: of: (a) the date it enters you entered into a Relevant Contract; the relevant contract; (b) whether the relevant contract was conditional when entered into; (c) the amount of the payments due purchase price for Services under itthe property; and and (cd) the dates date on which payments the relevant contract provides for such Services are payablethe sale and purchase of the property to be completed. 7.3 If the relevant contract was conditional on the date it was entered into, you must promptly notify us in writing of the date on which it becomes unconditional no later than 5 Business Days 3 business days after it enters into such Relevant Contractdate. 4.4 Any Commission payable pursuant 7.4 Without prejudice to clause 4.2 shall be due your obligation to provide the Introducer within 14 days information referred to in clauses 7.2 and 7.3, you undertake to give irrevocable instructions and authority to your solicitor or other conveyancer acting for you on the sale of the end property to provide such information promptly on becoming aware of it. 7.5 If the relevant contract is exchanged but not completed (notwithstanding service of a Notice to Complete by your solicitor and expiry of 10 business days thereafter), we reserve the right to charge the agreed commission on the value of the Quarter deposit paid you on exchange. 7.6 Unless otherwise indicated in which Spigo received the corresponding payment particulars, we will not be entitled to reimbursement of any other expenses we incur in the performance of our duties under this agreement. 7.7 If the particulars indicate that you have agreed to reimburse us for Services. If Spigo receives payment under any Relevant Contract in instalmentsexpenses, then Commission shall we will be calculated and paid entitled to such reimbursement immediately on such instalments as they are received by Spigoexpenses being incurred, regardless of whether a relevant contract is entered into. 4.5 Spigo shall within 14 days of the end of the Quarter in which Spigo received the corresponding payment for Services send to the Introducer a written statement setting out, in respect of such Quarter, in respect of each Relevant Contract: (a) the Commission payable to the Introducer; (b) the payments for Services received and details of any sums due which have not been received; and (c) how the Commission has been calculated, including details of all deductions made in determining Net Income. 4.6 The Introducer shall invoice Spigo for the Commission payable as per Xxxxx's statement submitted pursuant to clause 4.5, together with any applicable VAT and Spigo shall pay such invoice within 30 days of receipt. 4.7 Commission shall be payable to the Introducer in the currency in which it is received by Spigo. 4.8 7.8 All sums payable under this agreement: : (a) are exclusive of value added tax or other applicable sales tax, which shall be added to the sum in question; ; (b) shall be paid in full without any deductions (including deductions in respect of items such as income, corporation, or other taxes, charges and/or duties) except where the payor is you are required by law to deduct withholding tax from sums payable to the payeeus. If the payor is you are required by law to deduct withholding tax, then the payor and the payee we shall co-operate with each other in all respects and take all reasonable steps necessary to: : (ci) lawfully avoid making any such deductions; or or (dii) enable the payee us to obtain a tax credit in respect of the amount withheld. 4.9 7.9 If Spigo fails our commission has not been paid before the sale of the property is completed, you agree to give your solicitor or other legal representative authority to pay our commission out of the proceeds of the sale upon completion. 7.10 We will invoice you for the commission, together with any applicable VAT, in which case the due date for payment of such commission will be seven days from the date of such invoice but, regardless of the date on which the sale and purchase of the property is due to be completed, or is actually completed, all commission payable pursuant to clause 8.1 which has not been invoiced shall nevertheless be due to us no later than 20 business days after the date on which the relevant contract was entered into or, if the relevant contract was conditional on such date, the date on which the relevant contract becomes unconditional. 7.11 Commission must be paid to us in Pounds Sterling. 7.12 If you do not make any payment due to the Introducer under this agreement us by the due date for payment, then, without limiting the Introducer's remedies under (see clause 8, Spigo shall pay 8.10) we may charge you interest on the overdue amount at the rate of 4% per annum a year above the base lending rate of HSBC Bank of Valetta (BOV) base rate plc from time to time. Such This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. Spigo shall You must pay the us interest together with the any overdue amount. 4.10 Spigo shall keep 7.13 If you think an invoice is wrong please contact us promptly to let us know. You will not have to pay any interest until the dispute is resolved. Once the dispute is resolved we will charge you interest on correctly invoiced sums from the original due date. 7.14 If you enter into a tenancy agreement at any time with any person directly or indirectly introduced to you by us, you must pay us a separate accounts and records giving correct and adequate details of all Relevant Contracts entered into by Spigo, all payments received under them and all deductions made in commission on the calculation of Net Income. Spigo shall permit the duly appointed representatives date of the Introducer tenancy agreement at all reasonable times, but no more than once in any 12 months’ period, to inspect all such accounts and records and to take copies a rate of them. For 10% plus VAT of the avoidance of doubt, all rights in such records total rent payable (including database right and copyrightwithout deduction) shall belong to Spigounder the tenancy agreement. 4.11 If any dispute arises as to the amount of Commission payable by Spigo to the Introducer, the same shall be referred to Spigo's auditors for settlement and their decision, save in the case of manifest error, shall be final and binding on both parties. 4.12 No Commission or other compensation shall be payable where Spigo contracts with a third party in the circumstances described in clause 2.9. 4.13 7.15 Termination of this agreement, howsoever arising, shall not affect the continuation in force of this clause 4 8 and Xxxxx's your obligation to pay Commission make any payment to the Introducer us in accordance with it.

COMMISSION AND PAYMENT. 4.1 The Introducer shall be entitled to Commission if a Prospective Client Introduced by the Introducer enters into a Relevant Contract. 4.2 The amount of commission payable shall be [PERCENTAGE]% of Spigo's Net Income received under each Relevant Contract (as it may be renewed, extended or amended) during a period of 2 years from its Commencement Date (Commission). 4.3 Spigo shall promptly notify the Introducer in writing of the following: (a) the date it enters into a Relevant Contract; (b) the amount of the payments due for Services under it; and (c) the dates on which payments for such Services are payable, no later than 5 Business Days after it enters into such Relevant Contract. 4.4 Any Commission payable pursuant to clause 4.2 shall be due to the Introducer within 14 days of the end of the Quarter in which Spigo received the corresponding payment for Services. If Spigo receives payment under any Relevant Contract in instalments, then Commission shall be calculated and paid on such instalments as they are received by Spigo. 4.5 Spigo shall within 14 days of the end of the Quarter in which Spigo received the corresponding payment for Services send to the Introducer a written statement setting out, in respect of such Quarter, in respect of each Relevant Contract: (a) the Commission payable to the Introducer; (b) the payments for Services received and details of any sums due which have not been received; and (c) how the Commission has been calculated, including details of all deductions made in determining Net Income. 4.6 The Introducer shall invoice Spigo for the Commission payable as per XxxxxSpigo's statement submitted pursuant to clause 4.5, together with any applicable VAT and Spigo shall pay such invoice within 30 days of receipt. 4.7 Commission shall be payable to the Introducer in the currency in which it is received by Spigo. 4.8 All sums payable under this agreement: (a) are exclusive of value added tax or other applicable sales tax, which shall be added to the sum in question; (b) shall be paid in full without any deductions (including deductions in respect of items such as income, corporation, or other taxes, charges and/or duties) except where the payor is required by law to deduct withholding tax from sums payable to the payee. If the payor is required by law to deduct withholding tax, then the payor and the payee shall co-operate in all respects and take all reasonable steps necessary to: (c) lawfully avoid making any such deductions; or (d) enable the payee to obtain a tax credit in respect of the amount withheld. 4.9 If Spigo fails to make any payment due to the Introducer under this agreement by the due date for payment, then, without limiting the Introducer's remedies under clause 8, Spigo shall pay interest on the overdue amount at the rate of 4% per annum above the Bank of Valetta (BOV) base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. Spigo shall pay the interest together with the overdue amount. 4.10 Spigo shall keep separate accounts and records giving correct and adequate details of all Relevant Contracts entered into by Spigo, all payments received under them and all deductions made in the calculation of Net Income. Spigo shall permit the duly appointed representatives of the Introducer at all reasonable times, but no more than once in any 12 months’ period, to inspect all such accounts and records and to take copies of them. For the avoidance of doubt, all rights in such records (including database right and copyright) shall belong to Spigo. 4.11 If any dispute arises as to the amount of Commission payable by Spigo to the Introducer, the same shall be referred to Spigo's auditors for settlement and their decision, save in the case of manifest error, shall be final and binding on both parties. 4.12 No Commission or other compensation shall be payable where Spigo contracts with a third party in the circumstances described in clause 2.9. 4.13 Termination of this agreement, howsoever arising, shall not affect the continuation in force of this clause 4 and XxxxxSpigo's obligation to pay Commission to the Introducer in accordance with it.