Default Commission definition

Default Commission shall bear the meaning set out in Clause 4.5;
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Default Commission. Please check the commission option you would like to be the default commission paid to any registered representative that does not indicate the commission option desired on the contract information sheet. There is only one default Option allowed. Once a policy is issued, the commission option cannot be changed. Option A - 6% of purchase payments paid up front (no trails). Option B - 4.5% of purchase payments paid up front with .25% immediate trail paid on a quarterly basis. Option C - 1% of purchase payments paid up front with .80% immediate trail paid on a quarterly basis.
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Examples of Default Commission in a sentence

  • The Commission Option Selection(s) and Default Commission Option Selection made in this Section apply to ALL registered product business produced by Broker/Dealer and its Producers when options are available.

  • In each case, any amount of accrued and unpaid Default Commission shall be deducted from the amounts otherwise payable to Alcoa.

  • Any calculation of Default Commission under this Clause 4.5 shall be made on the basis of the actual number of days elapsed and a three hundred and sixty (360) day year.

  • If a Subordinated Loan Creditor, a Sponsor, the Mosaic Shareholder or an Acceding Shareholder fails to make payment of any amount payable by it under this Agreement, such person shall pay Commission on each sum demanded (both before and after judgment) from the date of demand until the date of payment calculated on a daily basis at the rate determined in accordance with the provisions of clause 10.2 (Default Commission) of the Common Terms Agreement.

  • Any commission which shall have accrued under Section 30.2 (Default Commission) in respect of an Unpaid Sum shall be due and payable and shall be paid by Borrower on each Commission Payment Date or on such other dates as the Administrative Agent acting pursuant to instructions from Lender may specify by written notice to Borrower.

  • REGISTERED PRODUCTS (Traditional Fixed Annuities, Equity-Indexed Annuities, and Life Insurance) The Commission Option Selection(s) and Default Commission Option Selection made on this page apply to ALL non-registered products business produced by Broker/Dealer pursuant to the J▇▇▇▇▇▇ National Life Insurance Company/J▇▇▇▇▇▇ National Life Distributors, Inc.

  • REGISTERED PRODUCTS (TRADITIONAL FIXED ANNUITIES AND LIFE INSURANCE) The Commission Option Selection(s) and Default Commission Option Selection made on this page apply to ALL non-registered products business produced by Broker/Dealer pursuant to the Jackson National Life Insurance Company of New York/Jackson Nat▇▇▇▇▇ ▇ife Distributors, Inc.

  • If a Shareholder fails to pay or advance an amount in accordance with this Clause 4 by the Funding Deadline, the unpaid amount of such Required Shareholder Funding shall bear a commission (the "Default Commission") from and after the date due to the date such amount is paid at a rate per annum equal to the Commission Rate plus two percent (2%), payable upon demand by the relevant Company or the non-defaulting Shareholder or, failing such demand, monthly in arrears.

  • REGISTERED PRODUCTS (Variable Annuities) The Commission Option Selection(s) and Default Commission Option Selection made on this page apply to ALL registered products business produced by Broker/Dealer pursuant to the J▇▇▇▇▇▇ National Life Insurance Company/J▇▇▇▇▇▇ National Life Distributors, Inc.

  • In each case, any amount of accrued and unpaid Default Commission by Alcoa shall be deducted from the amounts otherwise payable to Alcoa.