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. (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. 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. Subject to the limitation set forth in Paragraph 4 below and provided Prospective Tenant is not represented by a broker other than Broker, should Prospective Tenant renew this Lease, (herein “Renewal Term”), and Broker is actively involved in renewal negotiations, Broker shall receive a commission equal to the greater of (a) market commission payable, or (b) Adjusted Rent (as defined below) multiplied by 2.0%. Said sum shall be earned, due and payable in full upon mutual execution of a lease or lease amendment for the Renewal Term.
Renewal Commission. 1.2.1 Xxxxxx & Stag 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.
1.2.2 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 Xxxxxx & Stag ("Renewal Commission"), subject to the cap set out in clause 1.2.3 below.
1.2.3 You will not be liable for Renewal Commissions relating to any period beyond the end of the second year from the expiry of the Initial Agreement.
1.2.4 The Renewal Commission fee is due and payable on the commencement of each Renewal taking place within two years from the expiry of the Initial Agreement.
1.2.5 Where a Renewal is for an agreed term, the Renewal Commission fee is charged as a percentage of the total rental value of that agreed term, subject to the limit under clause 1.2.3 where applicable.
1.2.6 Where there is no agreed term for a Renewal, the Renewal Commission fee is charged as a percentage of the total rental value as if the Renewal would be for the same duration as the Initial Agreement, subject to the limit in clause 1.2.3 if applicable. See also clause 1.2.8 and 1.2.9 in respect of rebates once the tenant vacates the property.
1.2.7 The scale of Renewal Commission fees charged is as set out on page 2.
1.2.8 If the tenant vacates the property prior to the end of the period for which Renewal Commission has been paid in accordance with clauses 1.2.4 to
Renewal Commission. A. The Renewal Commission shall equal four and one-half percent (4.5%) of the aggregate gross base rental (as defined in 1B above) attributable to any renewal or extension of the Primary Term of the lease. The Renewal Commission to Broker shall be due and payable by Owner as follows:
(i) Fifty percent (50%) of the Renewal Commission shall be paid upon execution and delivery of a written amendment to the lease by Owner and Prospective Tenant setting forth the terms and conditions of such renewal or extension; and
(ii) The remaining fifty percent (50%) of the Renewal Commission shall be paid upon commencement of the renewal or extension term.
B. Owner's obligation to pay the Renewal Commission is expressly contingent upon the Broker's prior direct involvement in the negotiation of the renewal or extension. Direct involvement shall be defined as the Broker being active involved in the negotiation of such renewal and the Broker obtaining and delivering a letter of representation designating Broker as its exclusive agent.
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 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.
