Commission Payments / Payment Terms Sample Clauses

Commission Payments / Payment Terms. If the Company receives Private Label Program revenue from those Accountholders that purchased the Private Label Program from Company during the term of this Agreement, then subject to the terms and conditions of this Agreement, Company shall pay AGENT sales commission fees in the following amounts and under the following terms: a. AGENT shall receive sales commissions in the amount specified in Schedule B to this Agreement (PRIVATE LABEL CARD PROGRAM SALES COMMISSIONS). AGENT’s exclusive compensation from Company shall be the commission payments described in this Section 5, less all taxes mandated by law. b. Payment terms are net thirty (30) days from the last day of each Calendar month during the term of this Agreement; provided, however, that the Company may withhold remitting payment to AGENT until such time as the total amount due AGENT exceeds the sum of $100.00 and/or all minimums are met. c. Company shall continue to make commission payments to AGENT during the period that the Account remains active (that is, until expiration or cancellation), unless: (i) this Agreement is terminated according to the terms herein by reason of AGENT’s uncured material breach of this Agreement, or (ii) the Account issuing Bank ceases making payments to Company for such Account. If the issuing Bank should resume/release such payments after a temporary stoppage, then such released funds will be due and payable to Agent. d. If any sales giving rise to Company’s payments to AGENT are reversed for any reason, the sales commissions shall not be payable to AGENT and if Company has already paid AGENT the commission for a sale that is reversed, Company shall withhold applicable commissions from future payments to AGENT, making full accounting of same in the affected commission statement. If Company determines in its reasonable judgment that it should provide the Bank a credit or discount with respect to any sale for which a commission is payable to AGENT, Company shall have the right to charge a proportional amount of the credit or discount to AGENT’s commission and to deduct or set-off such proportion from the amount otherwise payable to AGENT.