Commission Receivables definition

Commission Receivables means, with respect to the Borrower and Guarantors, any receivables owed to the Borrower or Guarantor by an insurance carrier for commissions and production bonuses which are recorded as an asset in the books and records of the Borrower or Guarantor.
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Commission Receivables means, collectively, all present and future rights of the Loan Parties to payment from any Specified Insurer pursuant to the Insurer Agreement arising from the sale of goods or rendition of services to customers of such Specified Insurer and such Loan Party identified as “Contract assets – commissions receivable” on the balance sheet of the Borrower and its Subsidiaries.
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Commission Receivables means all receivables of the DE Brokerage Business in existence as of the Effective Time, as reflected on the Closing Date Statement, which have been earned in accordance with GAAP, except that (i) a receivable arising from a sale of property shall be treated as a Commission Receivable only if the closing of the sale and transfer of title occur prior to the Effective Time; and (ii) a receivable arising from a lease of property shall be treated as a Commission Receivable only if the applicable lease agreement has been fully executed by all parties prior to the Effective Time and if the commission related thereto is earned prior to the Effective Time (excepting only if part of a commission is paid prior to the Effective Time but payment of a remaining portion thereof is contingent on the future payment of rent by the tenant, in which case the remaining portion of the commission as and when paid after the Effective Time shall be treated as a Commission Receivable), but in no event shall Lease Renewal Commissions be treated as a Commission Receivable. Schedule 2.5.1 sets forth a list provided by Seller of all Commission Receivables as of April 30, 1999.
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Examples of Commission Receivables in a sentence

  • Buyer shall not (and shall cause the Company not to) take any action or omit to take any action if Buyer or the Company has a conscious awareness that such act or omission will prevent the Company from recovering the Landlord Deposits or the FCM Commission Receivables.

  • Buyer shall have the exclusive (even as to the Company) right and control over the collection of the Insurance Commission Receivables.

  • In any event, Buyer shall remit any amounts of such retained Net Proceeds of the Commission Receivables no less frequently than annually.

  • Seller wishes to sell, assign and transfer to Buyer, and Buyer wishes to purchase from Seller, all of Seller's right, title and interest in and to such Commission Receivables.

  • Furthermore, no later than 10 Business Days after the delivery by Buyer to Seller of written notice of amounts owed to Great Western by the Company as a result of Great Western’s over payment of Insurance Commission Receivables (and Buyer shall include in such notice evidence of amounts owed to Great Western), Seller shall pay to Buyer in immediately available funds any and all amounts owed to Great Western as set forth in such notice.

  • Seller hereby agrees to indemnify, defend and hold Buyer and its Affiliates harmless from and against any Tax liability incurred in connection with the collection, pursuant to this Section 2.5.3, by Buyer and Affiliates of the Commission Receivables and payment of the Commission Payables on behalf of Seller.

  • Seller shall cooperate with Buyer in the collection of the Commission Receivables; provided, however, that Seller may not initiate litigation, settle or compromise any account or pursue a collection action in respect of a disputed Commission Receivable, without the written consent of Buyer, such consent not to be unreasonably withheld, conditioned or delayed.

  • Buyer may not settle or compromise any Commission Receivables or any obligations, expenses or costs related, arising under, or otherwise payable in connection with the Commission Receivables, including, without limitation, costs of collection and commissions and obligations to brokers, without the consent of Seller, such consent not to be unreasonably withheld, delayed or conditioned.

  • If Epic Energy is required by law to odorise the Gas, the Shipper shall reimburse Epic Energy for all costs incurred in odorising that Gas.

  • Buyer may, upon notice to Seller, decline to pursue collection of any Commission Receivables and, in that event, shall not pay the Commission Payables related thereto, but Buyer shall instead assign, without recourse, any right, title and interest in such Commission Receivables to Seller, and Seller may use its reasonable efforts to collect such Commission Receivables and shall be obligated to pay the Commission Payables related thereto.


More Definitions of Commission Receivables

Commission Receivables shall have the meaning set forth in Section 2.5.1.
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Related to Commission Receivables

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Accounts Receivable means in respect of any Person, (a) all trade accounts and notes receivable and other rights to payment from customers and all security for such accounts or rights to payment, including all trade accounts receivable representing amounts receivable in respect of goods shipped or products sold or otherwise disposed of or services rendered to customers, (b) all other accounts and notes receivable and all security for such accounts or notes, and (c) any claim, remedy or other right relating to any of the foregoing.

  • Receivables Records means (i) all original copies of all documents, instruments or other writings or electronic records or other Records evidencing the Receivables, (ii) all books, correspondence, credit or other files, Records, ledger sheets or cards, invoices, and other papers relating to Receivables, including, without limitation, all tapes, cards, computer tapes, computer discs, computer runs, record keeping systems and other papers and documents relating to the Receivables, whether in the possession or under the control of Grantor or any computer bureau or agent from time to time acting for Grantor or otherwise, (iii) all evidences of the filing of financing statements and the registration of other instruments in connection therewith, and amendments, supplements or other modifications thereto, notices to other creditors or secured parties, and certificates, acknowledgments, or other writings, including, without limitation, lien search reports, from filing or other registration officers, (iv) all credit information, reports and memoranda relating thereto and (v) all other written or nonwritten forms of information related in any way to the foregoing or any Receivable.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Delinquency Collection Policies and Procedures The delinquency collection policies and procedures of the Interim Servicer, a copy of which is attached to the Interim Servicing Agreement as Exhibit 11.

  • Transferred Receivables means any Receivables that have been sold, contributed or otherwise transferred to an Eligible Transferee in connection with a Permitted Supply Chain Financing that is permitted under the Credit Agreement.

  • Collection Records means all manually prepared or computer generated records relating to collection efforts or payment histories with respect to the Receivables.

  • Collection site means the location of waste containers on collection day.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

  • Servicer Policies and Practices means, with respect to the Servicer’s duties under Exhibit A to the Servicing Agreement, the policies and practices of the Servicer applicable to such duties that the Servicer follows with respect to comparable assets that it services for itself and, if applicable, others.

  • Excluded Receivables means, as of any date of determination, all accounts receivable referred to in Item 1 of Schedule 7.01.

  • Originators have the meaning set forth in the Purchase and Sale Agreement, as the same may be modified from time to time by adding new Originators or removing Originators, in each case with the prior written consent of the Administrative Agent.

  • Intercompany Receivables means all account, note or loan payables and all advances (cash or otherwise) or any other extensions of credit that are receivable by Seller or any of its Affiliates (other than the Company or its Subsidiaries) from the Bank, the Company or its other Subsidiaries.

  • Review Receivables means those Delinquent Receivables that have been Delinquent Receivables for 60 days or more as of the last day of the preceding Collection Period identified by the Servicer as requiring an Asset Representations Review by the Asset Representations Reviewer following receipt of an Asset Representations Review Notice according to Section 3.01.

  • Current Receivable means each Receivable that is not a Defaulted Receivable or a Liquidated Receivable.

  • Initial Receivable means each Contract related to a Financed Vehicle transferred to the Issuer pursuant to Section 2.1, which, as of the Closing Date, is listed on Schedule A (which Schedule A may be in the form of an electronic file), and all rights and obligations thereunder, except for Initial Receivables that shall have become Purchased Receivables or Sold Receivables.

  • Amounts receivable by the Trust in a foreign currency shall be reported to the Evaluator who shall convert the same to U.S. dollars based on current exchange rates, in the same manner as provided in Section 4.01(b) or 4.01(c), as applicable, for the conversion of the valuation of foreign Equity Securities, and the Evaluator shall report such conversion with each Evaluation made pursuant to Section 4.01."

  • CPS means Consumer Portfolio Services, Inc., a California corporation and its successors.

  • Government Receivable means a Receivable as to which the Obligor is the United States federal government, any political subdivision thereof, or any agency of the foregoing.

  • Trade Accounts Payable of any Person means trade accounts payable of such Person with a maturity of not greater than 90 days incurred in the ordinary course of such Person's business.

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Eligible Trade Receivables means Accounts arising from the sale of the Loan Parties’ Inventory (other than those consisting of Credit Card Receivables) that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination: such Account (i) has been earned by performance and represents the bona fide amounts due to a Loan Party from an account debtor, and in each case originated in the ordinary course of business of such Loan Party, and (ii) in each case is acceptable to the Administrative Agent in its discretion, and is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (t) below. Without limiting the foregoing, to qualify as an Eligible Trade Receivable, an Account shall indicate no Person other than a Loan Party as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Loan Party may be obligated to rebate to a customer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Eligible Trade Receivable. Any Accounts meeting the foregoing criteria shall be deemed Eligible Trade Receivables but only as long as such Account is not included within any of the following categories, in which case such Account shall not constitute an Eligible Trade Receivable:

  • Schedule of Receivables means the Schedule of Receivables sold and transferred pursuant to this Agreement which is attached hereto as Schedule A.