Unearned Commission definition

Unearned Commission means Commission paid on an Indemnity Basis where the Client has failed to maintain the agreed premiums for the Business accepted by EXETER for the minimum of the Claw-back Period applicable to that Business. “Reclaimed Commission”: means Unearned Commission which EXETER is entitled to reclaim from You pursuant to this agreement.
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Unearned Commission means, in the case of commission paid under Clause 4.2 on an Indemnity basis, the amount by which the Initial Commission advanced under those terms in respect of the relevant Contract exceeds the amount earned in respect of such Contract.
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Examples of Unearned Commission in a sentence

  • You authorise us to debit or set-off the amount of any Unearned Commission from or against any Commission due as payable to you.

  • In the event that insufficient Commission has been earned by you or we otherwise deem it appropriate, then you shall repay to us such Unearned Commission as a debt due on demand by the method we specify.

  • Unearned Commission Debt is the amount that, as determined by each Carrier’s policies, becomes due for repayment (e.g., upon policy cancelation); if the Independent Contractor breaches this Agreement, Unearned Commission Debt also includes the total commissions previously advanced to the Independent Contractor and his/her Down-Line Agent(s) but still unearned as of the date of the breach.

  • Agent Debt consists of all amounts owed by an Agent (including the Independent Contractor) to NAA® or any of its Affiliates or to any Carrier, and includes charges for softer user fees (see Paragraph 1(g)), NAA® marketing and promotion materials, Unearned Commission Debt, Chargebacks, Lead Debt, and any other amounts owed by the Independent Contractor to NAA® or any of its Affiliates or to any Carrier.

  • Any payment made following a suspension under this clause may still be subject to the provisions of clause 7 if found to be Unearned Commission.

  • If Fairmead’s consent is withheld, all Unearned Commission shall become immediately repayable to Fairmead.

  • The Company will pay Referral Partner any unpaid Referral Commissions earned through the effective date of any termination, subject to the Company's right of set-off amounts owed to it by' Referral Partner under this Agreement, and subject to the Company’s rights with respect to Unearned Commission.

  • Commission paid on Indemnity Terms shall become immediately repayable to us as a debt due at the point it is declared to be Unearned Commission.

  • If you purport to do so all Unearned Commission shall become immediately repayable by you.

Related to Unearned Commission

  • Unearned income means any income which is not earned income and includes supplemental security income (SSI) and other funds available to a child residing in a foster care placement.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • the Commission means the Charity Commission for England and Wales;

  • Part-Time Employees means employees employed on a permanent basis, but obligated to work less than a full (i.e., forty-hour) work week.

  • Diocesan Schools Commission means the education service provided by the diocese, which may also be known, or referred to, as the Diocesan Education Service.