Examples of Net Commissions and Fees in a sentence
Components of Results of Operations Revenue Net Commissions and Fees Net commissions and fees are derived primarily by commissions from our three Specialties and are paid for our role as an intermediary in facilitating the placement of coverage in the insurance distribution chain.
If such an agreement is reached, the Estimated Specified Account Net Commissions and Fees as so agreed shall be final and binding on the Parties.
Section 6.24 of the Disclosure Schedule sets forth the names of the top ten (10) Clients of the Company, measured by Net Commissions and Fees (collectively, the “Material Clients”) and sets forth the Net Commissions and Fees attributable to each Material Client for the twelve (12) month period ending December 31, 2022 (the “Measurement Period”).
Section 6.25 of the Disclosure Schedule sets forth the names of the top five (5) Carriers providing products through the Company, measured by Net Commissions and Fees (the “Material Carriers”), and sets forth the Net Commissions and Fees attributable to each Material Carrier for the Measurement Period.
Perhaps because of this decision (although the record is silent on the matter), USI ultimately decided against purchasing the Virginia office when the APA closed $216,730.09 in commissions in his final year at WFIS, the Net Commissions and Fees amount would have been $655,170—the amount of revenue McGillivray earned for WFIS.
If the Additional Payment Objection Notice is not timely received by Purchaser within the Additional Payment Objection Period, Seller shall be deemed to agree in all respects with the applicable Estimated Specified Account Net Commissions and Fees as prepared by Purchaser, and such calculation shall be final and binding on the Parties.
The payments contemplated by this Section 2.1(c) shall be payable on or before the date that is fifteen (15) days after the date on which the Final Specified Account Net Commissions and Fees has been determined in accordance with Section 2.4. Such payments shall be made in compliance with Section 2.4 and shall be made by wire transfer of immediately available funds to an account designated by Seller.
No commission will be paid on Client Accounts for Client Accounts that generate less than $5,000 in Net Commissions and Fees on an individual basis, except for personal lines which will be paid on new business only.