Net Commissions and Fees definition

Net Commissions and Fees means (a) gross commissions and fees, minus (b) return commissions and fees resulting from cancellation or rescission, rebates and any co- or sub- brokerage commissions and fees due to agents, brokers or other intermediaries, such as Insurance Agents and Brokers, independent producers, and other independent marketing organizations, plus or minus (c) commissions and fees resulting from audits or other adjustments; provided, however, that “Net Commissions and Fees” shall not include any interest income nor any profit sharing, bonus, override, supplemental and other commissions based on the profitability, growth, or volume of business that is placed with a Carrier.
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Net Commissions and Fees means all commissions and fees received and actually collected by the Company, specifically on a policy Coded to the Producer, less payments to co-brokers, subproducers, other external service providers and/or other USI Companies (including, without limitation, any and all commissions and fees paid or due to co-brokers or sub-brokers, and any sub-broker rebate, service fees and return commissions). “Net Commissions and Fees” shall not include overrides or any other non-standard commissions or any interest on premiums on deposit, profit sharing, contingent, bonus, excess commissions or any other such commissions.
Sample 1
Net Commissions and Fees means (a) all commissions and fees received by Purchaser or its Affiliates in respect of the Client Accounts set forth on Exhibit A-2, including the cross-sell of a new product line to the Client and increases to coverage or any additional coverage sold to the Client (other than any Client who is also a client of any USI Company except where such cross-sell is generated by Cober or Juskowich), plus (b) all commissions and fees received by Purchaser or its Affiliates from new clients from and after the Closing Date and generated by Cober or Juskowich, less: (c)(1) commissions, fees and overrides paid or due to non-employee producers, or co- or sub-brokers; and (2) return commissions. “Net Commissions and Fees” shall exclude: (x) commissions or fees received by Purchaser on Client Accounts relating to individual life and individual disability policies or other non-recurring business; (y) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; and (z) interest and investment income.
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Examples of Net Commissions and Fees in a sentence

  • 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.

  • 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.

  • 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.

  • 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”).


More Definitions of Net Commissions and Fees

Net Commissions and Fees shall exclude: (x) commissions or fees received by Purchaser on Client Accounts relating to individual life and individual disability policies or other non-recurring business; (y) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; and (z) interest and investment income.
Sample 1
Net Commissions and Fees means, with respect to any Active Reference Client, an amount equal to (a) all commissions and fees received by Purchaser during the Measurement Period on such applicable Active Reference Client within the Covered Lines, less (b) (i) commissions, fees and overrides paid or due to producers who are not employed by Purchaser or any other USI Company, or co- or sub-brokers with respect to the commissions and fees included in clause (a); and (ii) return commissions. “Net Commissions and Fees Revenue” shall exclude: (w) commissions or fees received by Purchaser on Active Reference Client accounts relating to non-recurring business; (x) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; (y) interest and investment income and (z) any commissions and fees received outside of the Covered Lines.
Sample 1
Net Commissions and Fees means (a) all commissions and fees received by Purchaser or its Affiliates in respect of the Client Accounts set forth on Schedule 1.1(a)(ii), including the cross-sell of a new product line to the Client and increases to coverage or any additional coverage sold to the Client (other than any Client who is also a client of any USI Company except where such cross-sell is generated by Cober or Juskowich), plus (b) all commissions and fees received by Purchaser or its Affiliates from new clients from and after the Closing Date and generated by Cober or Juskowich, less: (c)(1) commissions, fees and overrides paid or due to non-employee producers, or co- or sub-brokers; and (2) return commissions. “Net Commissions and Fees” shall exclude: (x) commissions or fees received by Purchaser on Client Accounts relating to individual life and individual disability policies or other non-recurring business; (y) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; and (z) interest and investment income. “Net Working Capital” means the excess or deficit of Seller’s current assets over current liabilities calculated in accordance with Schedule 2.2(a) (which will be prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby)
Sample 1
Net Commissions and Fees shall exclude: (x) commissions or fees received by Purchaser on Client Accounts relating to individual life and individual disability policies or other non-recurring business; (y) any overrides or profit sharing, contingent, supplemental or other bonus commissions or fees; and (z) interest and investment income. “Net Working Capital” means the excess or deficit of Seller’s current assets over current liabilities calculated in accordance with Schedule 2.2(a) (which will be prepared in accordance with GAAP applied on a consistent basis throughout the periods covered thereby)
Sample 1

Related to Net Commissions and Fees

  • Tuition and fees means undergraduate tuition and services

  • Selling Commissions means any and all commissions payable to underwriters, dealer managers or other broker-dealers in connection with the sale of Shares, including, without limitation, commissions payable to the Dealer Manager.

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Finance commission means the Finance Commission of Texas.

  • City Commission means the legislative body of the City of Miami.

  • Selling Commission means three percent (3%) of the gross proceeds of Shares sold pursuant to this Agreement, or as otherwise agreed between the Company and the Agent with respect to any Shares sold pursuant to this Agreement.

  • Funding and Brokerage Fees means, in respect of a Series, all applicable fees other than the Arranger Fees, including, but not limited to, margin interest, securities lending fees, brokerage fees and costs of transaction taxes on the sale or purchase of Reference Assets (where relevant).

  • Commissions means the Alberta Securities Commission and the British Columbia Securities Commission;

  • Front End Fees means fees and expenses paid by any party for any services rendered to organize the Company and to acquire assets for the Company, including Organization and Offering Expenses, Acquisition Fees, Acquisition Expenses, and any other similar fees, however designated by the Board.

  • Commitment Commission shall have the meaning provided in Section 3.01(a).

  • Advisory Fees means financial advisory fees, closing fees, transaction fees, monitoring fees, oversight fees and similar fees, expenses and indemnities payable by the Loan Parties pursuant to the Advisory Agreement, but in the case of any such fees not to exceed the amounts payable in respect thereof under the Advisory Agreement as in effect on the Closing Date.

  • Costs and fees means all reasonable pre-award expenses of the arbitration, including the arbitrators' fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees and attorney's fees. Upon the request of a party, the arbitrators' award shall include findings of fact and conclusion of law. The arbitrators shall provide copies of such award to the parties. Any award may be entered by the prevailing party in any court of competent jurisdiction.

  • Leasing Commissions means leasing commissions incurred by Borrower in connection with leasing any Mortgaged Property or any portion thereof (including renewals of existing Leases).

  • Planning Commission means the City’s Planning Commission.

  • Joint Commission means the accrediting body whose standards are referred to in these Bylaws.

  • Railways Commission means the Western Australian Government Railways Commission established pursuant to the Government Railways Xxx 0000;

  • Canadian Securities Commissions means the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada;

  • Tax Commission means the Oklahoma Tax Commission;

  • Fees means all amounts payable pursuant to, or referred to in, Section 4.1.

  • Appropriate Commission means as defined in the PPA;

  • Securities Commissions means collectively, the applicable securities commission or securities regulatory authority in each of the Qualifying Jurisdictions;

  • Transaction Fees means fees paid or payable by the Service Recipients, which are on market terms, with respect to financial advisory services ordinarily carried out by investment banks in the context of mergers and acquisitions transactions;

  • State Commission means any state regulatory agency having jurisdiction over retail electricity sales in any State in the PJM Region.

  • County commission means the board of county commissioners of the county.

  • Central Commission means the Central Electricity Regulatory Commission referred to in sub-section (1) of section 76 of the Act;

  • Department of Justice means the Antitrust Division of the United States Department of Justice.