Annual Rebate definition
Examples of Annual Rebate in a sentence
If Channel Partner is a RITTAL Premium Partner and does not otherwise (i) enter into an annual Business Plan as required hereunder, or (ii) perform any other duties required by a RITTAL Premium Partner hereunder, then such Channel Partner shall automatically be reclassified as a RITTAL Certified Partner and may not otherwise be entitled to an Annual Rebate.
Notwithstanding the foregoing, Channel Partner shall not otherwise be entitled to payment of the Annual Rebate if Channel Partner breaches (a) this Agreement or (b) any applicable Commercial Terms relating to a sold Product and/or Service, unless otherwise agreed to by RITTAL in writing.
If Channel Partner is otherwise entitled to receive an Annual Rebate for a given calendar year, then RITTAL shall pay the Annual Rebate to Channel Partner within forty-five (45) days after the end of the calendar year.
Channel Partner shall only be entitled to receive an Annual Rebate in a given calendar year if the Channel Partner meets or exceeds its Sales Target (as defined in Section 9) for such calendar year.
If Channel Partner is a RITTAL Certified Partner, then Channel Partner shall not be required to enter into an annual Business Plan with RITTAL; provided, however, that if Channel Partner does not enter into an annual Business Plan, then Channel Partner shall not be eligible to receive an Annual Rebate as set forth in Section 5.6 for that given calendar year.
The Sales Target shall be stated as a dollar amount and be used by the Parties to determine whether Channel Partner is entitled to an Annual Rebate in accordance with Section 5.6. In determining whether Channel Partner has met its Sales Target for a given calendar year, RITTAL shall calculate the total purchase price of all Applicable Purchases (as defined in Section 5.6.) invoiced by RITTAL and shipped in the given year, and then compare such number to the applicable Sales Target.
If Channel Partner is a RITTAL Certified Partner and does not elect to enter into a Business Plan with RITTAL, then Channel Partner shall not be entitled to receive an Annual Rebate for any given year in which a Business Plan is not signed.
Such Annual Rebate, if applicable, shall be paid in accordance with the provisions of Section 5 of this Agreement.
Dilution: The amount of any reduction or cancellation of the Unpaid Balance of a Pool Receivable as described in Section 3.2(a), but excluding any Specified Annual Rebate processed during the applicable Collection Period, if applicable.
Customer shall be paid a percent of the Accrued Basis Point Annual Rebate pursuant to Exhibit A, provided that the total number of gallons is equal to or greater than [*] on Cards issued in 2001.