Sales Representatives Commission Claims definition

Sales Representatives Commission Claims means the Allowed Claims of a Purchaser Sales Representative solely for and in the amount of the actual unpaid prepetition sales commissions earned in the ordinary course of the Business. If Allowed Claims for Sales Representatives Commissions exceed $34,230,769, the Allowed amount of such Claims in excess thereof shall be classified as a General Unsecured Claim.
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Examples of Sales Representatives Commission Claims in a sentence

  • In making payments under the Sales Representatives Commission Claims Payment Plan, the Purchaser is entitled to rely on the amounts, information, and calculations provided by the Liquidating Trustee without independent investigation, analysis, or verification and shall not be liable to any Person or Entity (including, without limitation, the Sales Representatives or the Liquidating Trust) arising from such payments.

  • For the avoidance of doubt, the Purchaser’s obligation to pay the Opt-Out Sales Representative Proceeds depends upon the Opt-Out Sales Representative’s satisfaction of the terms and conditions of the Sales Representatives Commission Claims Payment Plan.

  • In the Sales Representatives Commission Claims Payment Plan, the Purchaser shall not be required to make any payments on account of a Sales Representatives Commission Claim until such Claims are Allowed or the agreement of the Debtors (prior to or on the Effective Date) or the Liquidating Trustee (after the Effective Date), on the one hand, and the Holder of such Sales Representative Commission Claim, on the other hand.

  • If the Purchaser Sales Representative meets each requirement above at all relevant times, an example of how this Sales Representatives Commission Claims Payment Plan works is as follows: Assume that (a) the Purchaser Sales Representative asserts a $10,000.00 Sales Representatives Commission Claim against the Estates, (b) the Effective Date is September 1, 2021, and (c) Purchaser’s monthly Gross Sales are $7,500,000.00.

  • As part of the Sale Transaction, the Purchaser (a) shall assume the obligations to honor the Assumed Deferred Revenue Liability, make payments pursuant to the Sales Representatives Commission Claims Payment Plan, honor the Purchaser Honored Virtual Currency, and pay the Cure Costs and (b) shall issue the Purchaser Note.

  • Class 6(a) consists of all Non-Opt-Out Sales Representatives Commission Claims.

  • No Cash payment of less than $250.00, in the Liquidating Trustee’s reasonable discretion, shall be made to a Holder of an Allowed Claim or Allowed Interest on account of such Allowed Claim or Allowed Interest, provided, however, that this provision shall not apply to Convenience Class Claims or Sales Representatives Commission Claims.

  • A Sales Representative that opts out of the Sales Representatives Commission Claims Payment Plan will be classified as a General Unsecured Claim and receive the same treatment as Class 5 of the Plan.

  • Class 6(b) consists of all Opt-Out Sales Representatives Commission Claims.

  • Distributions No Cash payment of less than $250.00, in the Liquidating Trustee’s reasonable discretion, shall be made to a Holder of an Allowed Claim or Allowed Interest on account of such Allowed Claim or Allowed Interest, provided, however, that this provision shall not apply to Convenience Class Claims or Sales Representatives Commission Claims.

Related to Sales Representatives Commission Claims

  • Sales Representative means a person employed by, acting on

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