Common use of Takeback Clause in Contracts

Takeback. If the AD received commission for a Product subject to this Section 13.0, and the customer discontinues the Product for any reason, Takeback applies. If the customer discontinues a Product within one-hundred and eighty days after the Completed Order date, the Takeback will equal one-hundred percent (100%) of the Upfront Commission Payment. Residual commissions cease effective the date the customer cancels the product. 14.0 1 800-CONFERENCE 14.1 Commission Payment Schedule. Sales of 1-800-CONFERENCE consist only of an Upfront Commission Payment, and no Residual Payment applies.

Appears in 2 contracts

Sources: Authorized Distributor Agreement (Telecomm Industries Corp), Authorized Distributor Agreement (Pentastar Communications Inc)