Commission Allowance Clause Samples

A Commission Allowance clause defines the terms under which commissions are paid to a party, typically in the context of sales or agency agreements. It specifies the percentage or amount of commission, the conditions for earning it, and the timing of payments, such as upon completion of a sale or receipt of payment from a client. This clause ensures both parties understand how commissions are calculated and distributed, thereby preventing disputes and providing clarity regarding compensation for services rendered.
Commission Allowance. The Reinsurer shall pay to the Ceding Company an amount (the “Commission Allowance”) at the end of the first and all subsequent Accounting Periods equal to (i) times (ii), where: (i) equals the actual commissions paid to general agents, wholesalers, and marketing organizations by the Ceding Company during the current Accounting Period with respect to the Annuities; and (ii) equals the Quota Share Percentage.
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Commission Allowance. For each Accounting Period, the Commission Allowance equals the total amount of initial commission (i.e., not trail commission) paid to distributors of the Reinsured Contracts to reflect the receipt of additional premiums on the Reinsured Contracts. EXHIBIT E Form of Quarterly Accounting and Settlement Report
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Commission Allowance. The Reinsurer shall pay to the Company a commission allowance equal to the following: a commission allowance on first year premiums at the rate of 35% on Plan OG2 (5 Pay Life), 40% on Plan OG3(10 Pay Life), 45% on Plan OG4 (15 Pay Life), 50% on Plans 801 (Whole Life), 810 (Whole Life), 821 (10 Year Term) and OG5 (20 Pay Life), 55% on Plan OG1 (Whole Life), and 60% on Plan 820 (Whole Life); a commission allowance on renewal premiums for new ordinary business (1997 issues) at the rate of 7% of premiums for policy years 2 through 10 and 3% of premiums thereafter; and a commission allowance on renewal premiums for ordinary and industrial (pre-1997 issues) at the rate of 10% of premiums for policy years 2 and 3, 4% of premiums for policy year 4, 3% of premiums for policy years 5 through 15 inclusive, 2% of premiums for policy years 16 through 20 inclusive.
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Commission Allowance. The Reinsurer shall pay the Ceding Company a -------------------- Commission Allowance equal to 2.5% of the gross Policy premiums and deposits collected during the Accounting Period with respect to the Policies for years 2 and later.
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Commission Allowance. Reinsurer shall pay Universal a commission allowance equal to the following: a commission allowance on first year premiums at the rate of 35% on Plan OG2 (5 Pay Life), 40% on Plan OG3 (10 Pay Life), 45% on Plan OG4 (15 Pay Life), 50% on Plans 801 (Whole Life), 810 (Whole Life), 821 (10 Year Term) and OG5 (20 Pay Life), 55% on Plan OG1 (Whole Life), and 60% on Plan 820 (Whole Life); a commission allowance on renewal premiums for new ordinary business (1997 issues) at the rate of 7% of premiums for policy years 2 through 10 and 3% of premiums thereafter; and a commission allowance on renewal premiums for ordinary and industrial (pre-1997 issues) at the rate of 10% of premiums for policy years 2 and 3, 4% of premiums for policy year 4, 3% of premiums for policy years 5 through 15 inclusive, 2% of premiums for policy years 16 through 20 inclusive and 0% thereafter ("Commission Allowance"). Except for the Commission Allowance payable to the Company as aforesaid, Reinsurer shall not be liable for any liabilities, losses, or expenses arising from claims of agents, brokers or other parties for commissions, service fees, or producer compensation, and Universal shall indemnify and hold Reinsurer harmless from any liabilities, losses, or expenses from claims of agents, brokers or other parties for such commissions, service fees, or producer compensation, and for any other claims of a similar or related nature, as more fully set forth in Article XIV below.
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Commission Allowance. Subject to the limitations expressed in the immediately succeeding sentence, with respect to Policies issued on or before May 31, 1996, the Reinsurer shall reimburse the Company as a part of the Monthly Cash Settlement the Reinsurer's Portion of the actual Commissions earned on the Policies by the Company's agents based on the commission schedules in force as of the Effective Date of this Agreement. Such commissions shall not exceed, however, the amount or amounts, as the case may be, shown in the December 31 Actuarial Appraisal in respect to the Transferred Policies ("Commissions"). World Service agrees to indemnify and hold Reinsurer harmless from any liability, loss, or expense from claims of agents or brokers for commissions, service fees, or producer compensation in excess of said Commissions. With respect to Policies issued subsequent to May 31, 1996, the Reinsurer shall pay (i.e., allow) the Company as a part of the Monthly Cash Settlement the Reinsurer's Portion of the Commissions calculated in accordance with Exhibit 3.4 attached hereto. There shall be no increases to any of the commission schedules referred to herein without the express written consent of the Reinsurer.
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Commission Allowance. For each Accounting Period, the Commission Allowance equals the total amount of commission paid to distributors of the Reinsured Policies to reflect the receipt of premiums on the Policies. Accounting Period: Calendar Year: Date Report Completed: General Account (Coinsurance) Separate Accounts (Modco) 1. Reinsurance Premiums 2. Net Reinsurance Loads & Charges 3. Reinsurance Claims [a + b + c] a. Death Claims (i + ii) i. Account Value ii. Death Benefit in Excess of Account Value b. Withdrawals and Surrenders (i - ii) i. Account Value
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Commission Allowance. The Reinsurer shall pay the Company a commission allowance equal to the lesser of (a) the actual commission liability that the Company has from time to time or (b) the commissions due to agents as set forth on the Actuarial Appraisal. Except for the Commission Allowance payable to the Company as aforesaid, the Reinsurer shall not be liable for any liabilities, losses, or expenses arising from claims of agents, brokers or other parties for commissions, service fees, or producer compensation, and the Company shall indemnify and hold the Reinsurer harmless from any liabilities, losses, or expenses from claims of agents, brokers or other parties for such commissions, service fees, or producer compensation, and for any other claims of a similar or related nature, as more fully set forth in Article XIV below.
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Commission Allowance. The Reinsurer shall indemnify the Ceding Company for -------------------- commission allowances equal to 5 bps times its quota share of Account Value for years 2 and later with respect to the Policies.
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Related to Commission Allowance

  • Construction Allowance (a) Landlord shall provide to Tenant a construction allowance not to exceed $135.00 per rentable square foot in the Relocation Premises (the “Construction Allowance”) to be applied toward the Total Construction Costs, as adjusted for any changes to the Tenant Work. If the Total Construction Costs are estimated to exceed the Construction Allowance by more than $5.00 per rentable square foot of the Relocation Premises, then no advance of the Construction Allowance shall be made by Landlord until Tenant has first paid to the contractor from its own funds (and provided reasonable evidence thereof to Landlord) the anticipated amount by which the projected Total Construction Costs exceed the amount of the Construction Allowance. Thereafter, Landlord shall pay to Tenant (or at Tenant’s request directly to Tenant’s general contractor) the Construction Allowance in multiple disbursements (but not more than once in any calendar month) following the receipt by Landlord of the following items: (i) a request for payment and sworn statements of Tenant and contractor, (ii) final or partial lien waivers, as the case may be, from all persons performing work or supplying or fabricating materials for the Tenant Work, fully executed, acknowledged and in recordable form, which waivers may be conditioned upon receipt of payment, (iii) the Architect’s certification that the Tenant Work for which reimbursement has been requested has been finally completed, including (with respect to the last application for payment only) any punch-list items, on the appropriate AIA form or another form approved by Landlord, and, (iv) with respect to the disbursement of the last 10% of the Construction Allowance, (1) the permanent certificate of occupancy issued for the Relocation Premises, if required by applicable law, (2) the record drawing in CAD format, PDF format and hard copy required by Section 5 above, and (3) an estoppel certificate confirming such factual matters as Landlord or Landlord’s Mortgagee may reasonably request (collectively, a “Completed Application for Payment”). Landlord shall pay the amount requested in the applicable Completed Application for Payment to Tenant within 30 days following Tenant’s submission of the Completed Application for Payment. If, however, the Completed Application for Payment is incomplete or incorrect, Landlord shall promptly notify Tenant of the same and Landlord’s payment of such request shall be deferred until 30 days following Landlord’s receipt of the corrected Completed Application for Payment. Notwithstanding anything to the contrary contained in this Exhibit, Landlord shall not be obligated to make any disbursement of the Construction Allowance during the pendency of any of the following: (1) Landlord has received written notice of any unpaid claims relating to any portion of the Tenant Work or materials in connection therewith covered by previously funded applications for payment, (2) there is an unbonded lien outstanding against the Building or the Relocation Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or specifically fabricated, claimed to have been supplied or specifically fabricated, to or for Tenant or the Relocation Premises, (3) the conditions to the advance of the Construction Allowance are not satisfied, or (4) Tenant is in Default under the Lease. (b) The Construction Allowance must be used on Tenant Work performed within the Relocation Premises and the Total Construction Costs and may not be used to pay for furniture, fixtures or equipment or as rent abatement, HOWEVER, notwithstanding the foregoing, provided Tenant is not in Default, Tenant may use a portion of the Construction Allowance, not to exceed an amount equal to $35.00 per rentable square foot of the Relocation Premises, to pay for furniture, fixtures or equipment, moving costs, cabling costs, and other soft costs associated with the Relocation Premises. Should Tenant elect to use a portion of the Construction Allowance to pay for such soft costs, at Landlord’s request Tenant shall execute and deliver a letter to Landlord confirming the exact amount of the Construction Allowance used to pay for such soft costs. Should Tenant elect to use a portion of the Construction Allowance to pay for such costs, Tenant shall provide Landlord with a written request that includes copies of paid invoices or receipts for reimbursement of such costs, and Landlord shall reimburse Tenant for such amounts within 30 days of receipt of Tenant’s request. Tenant shall provide lien waivers as appropriate. No portion of the Construction Allowance may be used as a credit against Rent due under the Lease. (c) The Construction Allowance must be used (i.e. work performed and invoices submitted to Landlord) by June 30, 2020, or the Construction Allowance shall be deemed forfeited with no further obligation by Landlord with respect thereto. (d) If Landlord defaults in Landlord’s obligation to pay the Construction Allowance pursuant to Section 9 of this Exhibit B-1, or any portion thereof, within five (5) days after the date the same is due, then Tenant shall have the right to give Landlord a second written notice (“Offset Exercise Notice”) requesting payment of such unpaid amounts and notifying Landlord that Tenant intends to offset against rent if not paid. In the event that Landlord fails to contest in good faith or fully pay such amounts within ten (10) business days after such Offset Exercise Notice is received by Landlord, then provided no Default exists Tenant may withhold and offset such unpaid sums from and against 25% of Base Rent next due until paid.

  • Vacation Allowance Employees in permanent positions are entitled to vacation with pay. Accrual is based upon straight time hours of working time per calendar month of service and begins on the date of appointment to a permanent position. Increased accruals begin on the first of the month following the month in which the employee qualifies. Accrual for portions of a month shall be in minimum amounts of one (1) hour calculated on the same basis as for partial month compensation pursuant to Section 5.8 (Salary Reallocation and Salary Reallocation) of this MOU. Vacation credits may be taken in one (1) minute increments but may not be taken during the first six (6) months of employment (not necessarily synonymous with probationary status) except where sick leave has been exhausted; and none shall be allowed in excess of actual accrual at the time vacation is taken.

  • Education Allowance Provisions in existing Collective Agreements providing for educational allowances shall be continued in effect.

  • Separation Allowance Should it become necessary to close the plant or a portion of the plant and it is not expected that those affected will be re-employed, a separation allowance will be paid to employees subject to the following:

  • Relocation Allowance An employee who is promoted and required by agency policy to relocate his residence shall be granted time off with pay for one workday for this purpose. In addition, the employee shall be granted travel time to the new location based on the most direct route. No employee will be credited with more than the number of hours in the employee’s regular workday and such time shall not be counted as hours worked for the purpose of computing compensatory time or overtime.