Renewal Commission Sample Clauses
POPULAR SAMPLE Copied 2 times
Renewal Commission. (a) The Retrocessionaire shall pay to the Retrocedent a renewal commission ("Renewal Commission") of twelve and a half percent (12.5%) on all net reinsurance premiums (excluding any reinstatement premiums relating to any losses incurred on or after the Effective Date) collected in cash by the Retrocessionaire or any Affiliate thereof relating to any Reinsured Contracts which are renewed, at its sole discretion, by the Retrocessionaire or any Affiliate thereof ("Renewed Contracts") over the twelve (12) month period following the date hereof. At the Closing, the Retrocessionaire will remit to the Retrocedent an advance payment of eight million dollars ($8,000,000) ("Advance Payment") to be applied against payment of such Renewal Commissions. The Advance Payment shall be a minimum Renewal Commission and shall not be subject to repayment by the Retrocedent. The parties agree that in the event the aggregate amount of Renewal Commissions to be paid by the Retrocessionaire to the Retrocedent exceeds the amount of the Advance Payment, the Retrocessionaire shall pay such additional Renewal Commissions to the Retrocedent as reinsurance premiums are received in cash from the Renewed Contracts. The parties further agree that the decision to write any Renewed Contracts is at the sole discretion of the Retrocessionaire, and that this Section 4.2 does not create an obligation in any way on the part of the Retrocessionaire to renew any Reinsured Contract.
(b) For the avoidance of doubt, any reinsurance premiums relating to (i) the cancellation and rewriting of Reinsured Contracts on the Retrocessionaire's paper or (ii) Novation of Reinsured Contracts effected pursuant to Section 2.4 hereof shall be subject to the Ceding Commissions calculation under Section 4.1 hereof, but not the Renewal Commission calculation under this Section 4.2 hereof; provided, however, subject to Section 4.4, any renewal of a Reinsured Contract which has been novated pursuant to Section 2.4 hereof will be subject to Renewal Commissions. New Section 4.2(c).
(c) The premium used for determining the Renewal Commissions paid to the Retrocedent under this Section 4.2 shall be net of all premiums paid by the Retrocessionaire to third party reinsurers under reinsurance agreements obtained by the Retrocessionaire to reinsure the Renewed Contracts. The premium for such reinsurance shall be calculated by reasonably allocating the premium for all reinsurance obtained by the Purchaser for the coverage period ...
Renewal Commission. Our principle is to link the payment of renewal commission with the on- going servicing of the customer. We will continue to pay renewal commission to you, provided that: • the plan remains in force; • the customer has paid all premiums due; • there is no suspicion of fraud or any unlawful act or any act which brings, or is likely to bring, either party into disrepute; • your agency is not cancelled or suspended; and • you continue to act as the agent of the customer and retain control of the plan. Renewal commission will be paid in month forty-nine (49) and, if renewal commission continues to be due to you, in each month thereafter whilst the policy remains in force. Such commission will not become fully earned (and therefore is at risk of clawback) until the completion of month forty-eight (48).
Renewal Commission. On premiums for subsequent policy contract years the Representative shall receive Renewal Commission at rates determined from the "Schedules of Commission".
Renewal Commission. 2.1 Prior to the end of the tenancy, the Agent will endeavour to contact both the landlord and the tenant to negotiate a renewal or extension of the tenancy, if so required.
2.2 The Agent will produce, if required, new tenancy contracts or other necessary paperwork. This will be forwarded to the landlord and tenant/s for signature.
2.3 The renewal commission is payable on the commencement of the renewal/extension/hold-over or new agreement. The renewal commission will be due whether or not the renewal/extension/hold-over or new agreement is negotiated by the Agent.
2.4 The renewal commission is charged as a percentage of the total rental value of the agreed term as specified in the tenancy agreement, subject to clause 2.5 below. The renewal commission is set out above.
2.5 In the event that the Landlord wishes to terminate the tenancy early, the renewal commission will be non refundable. In the event that the tenant wishes to terminate the tenancy early, providing you instruct us to re- let the property we will do so at a reduced rate subject to negotiations.
2.6 The renewal commission is due in respect of renewals/extensions/hold-over or new agreements where the original tenant/s remains in occupation. Where there is more than one tenant, renewal commission will be payable in full where any or all of them remain in occupation.
2.7 All our fees are subject to a minimum fee of £500
Renewal Commission. (i) Where Friends First has purchased an Agency under the terms of the buy- out provisions of this Agreement, Friends First will not, for a period of M years [where M is the multiple figure to be determined by the Persistency Rate of the Intermediary in accordance with the table set out in the Second Schedule to this Agreement] following the buy-out, make payments of renewal commission on any policies in the Agency which are the subject of a transfer to another Intermediary.
(ii) However following the expiration of the M year period, where Friends First is satisfied that there has been no large scale transfer of clients to another Intermediary, Friends First may make an ex-gratia payment of renewal commission in respect of the M year period for which no payments were made.
Renewal Commission. JTM HOMES will endeavour to contact both the Landlord and Tenant before the end of the Initial Agreement to negotiate an extension of the Tenancy, if so required. In the event that the Tenant renews, extends, holds-over and/or enters into a new agreement for which rental income is received, commission becomes payable to JTM HOMES ("Renewal Commission"), subject to the sliding scale set out below and at 12 monthly intervals as follows:
(a) The Renewal Commission is due and payable on the commencement of each Renewal taking place.
(b) Where a Renewal is for an agreed term, the Renewal Commission is charged as a percentage of the total rental value of that agreed term.
Renewal Commission. In the event Lessee elects to exercise said option to renew, Lessor shall thereupon pay to broker the sum of $ n/a as ----- additional real estate commission, or in the alternative, 3% percent of the annual rental for the first year of the option period. EXECUTED as of this __________ day of __________, 19__ LESSOR: LESSEE: Visionael Corporation __________________________________ _______________________________________ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: Mr. ▇▇▇▇ ▇▇▇▇▇, CEO (An Authorized Officer) __________________________________ _______________________________________ Date Date AMENDMENT TO SUBLEASE This Amendment to Sublease is entered into as of the 29th day of June, 1999, and amends that certain Sublease Agreement (the "Sublease") by and between VISIONAEL CORPORATION, a Delaware corporation ("Sublandlord") and INTERNET TRAVEL NETWORK, a California Corporation, ("Subtenant") dated as of October 30, 1998, regarding the Sublease of space located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇.
Renewal Commission. A Base Commission on all subsequent years’ premium shall be paid on all earned and paid Premium generated from such in-force Stand Alone Term Life Policies sold by Writing Agents in the Service Area.
Renewal Commission. Credit which may be realized on Commissionable Dues for the 13th through the 120th consecutive month of a NMCA Membership
Renewal Commission. ● In addition to the first-year commission, the Agent will receive an additional 5% commission of the tuition for each subsequent year the student remains enrolled at MPA, from grades 7 through 12. This renewal commission applies only to new students referred on or after the Effective Date of this Agreement.