Large Ticket definition
Examples of Large Ticket in a sentence
The formula for calculating the Non-Standard Volume Incentive is: (Large Ticket Quarterly Volume x Large Ticket basis points) + (Merchant Negotiated Interchange Quarterly Volume x Merchant Negotiated Interchange basis points) = Quarterly Non-Standard Volume Incentive.
The Large Ticket Performance Rebate calculation will be made in accordance with the Table A, below.
To the knowledge of the Company, no valid offset, defenses or counterclaims may be asserted against the Company or its Subsidiaries, the Purchaser or its assigns with respect to any Large Ticket Financing and no Suit or any legal proceeding, administrative, judicial or otherwise has been brought by or against the Company or its Subsidiaries in connection therewith.
Any Charge-offs in excess of the net Large Ticket Revenue Share from one (1) Agreement Year will be subtracted from one (1) or more of the following Agreement Years.
In the event that the Master Agreement and/or this U.S. Country Addendum is terminated early by Government Entity without cause or by U.S. Bank with cause, in addition to any other remedies available to U.S. Bank, this Large Ticket Revenue Share opportunity shall immediately terminate and no Large Ticket Revenue Share shall be paid to Government Entity.
U.S. Bank shall pay to Government Entity a portion of its aggregate Large Ticket Volume through a rebate (“Large Ticket Volume Rebate”).
U.S. Bank will calculate the Large Ticket Average Transaction Size for the same Agreement Year to find the Large Ticket Volume Rebate Percentage on Table B for the Large Ticket Volume Rebate.
U.S. Bank will subtract any Charge-offs that have not been subtracted at any time during any of the past Agreement Year(s) from the gross Large Ticket Revenue Share.
U.S. Bank will calculate the File Turn Days Payment Performance for the Agreement Year to find the Large Ticket Performance Rebate Percentage on Table A for the Large Ticket Performance Rebate.
Please refer to that section for details explaining volume carve outs for Large Ticket transactions (high-dollar transactions), Level III transactions, Private Network Transactions (PNT) and Reduced Rate Not Paid (RRNP) transactions.