Commission Claw Back Sample Clauses

Commission Claw Back a. If a Merchant on a daily repayment schedule defaults within the first thirty (30) payments after receipt of funds, Agent will be emailed a Notice of Default notifying Agent of the Merchant’s default and providing seven (7) days to cure the default. If the default is not cured, Agent will not be paid an upfront or residual commission for the subject transaction. b. If a Merchant on a weekly repayment schedule defaults within the first five (5) payments after receipt of funds, Agent will be emailed a Notice of Default notifying Agent of the default and providing seven (7) days to cure the default. If the default is not cured, Agent will not be paid an upfront or residual commission for the subject transaction. c. If commission has been disbursed to Agent, Agent shall return the subject commission in full to Funder within seven (7) days of demand by Funder. Funder reserves the right to deduct such commissions from presently owed or future commissions owed to Agent. Should the Merchant in default cure the default thereafter, Funder shall return unpaid or returned commissions to Agent.