Unearned fee definition
Unearned fee means any contract or arrangement entered into by a licensee to provide a person with a credit, gratuity, commission, professional discount or wage in consideration for the referral of a patient by that person to the physical therapist.
Unearned fee means the Fees advanced to the Distributor hereunder, reduced by an amount equal to the product of the Fees actually paid and a fraction, the numerator of which is equal to the Total Orders, net of returns and allowances, for the period in question, and the denominator of which is the Target Level for the period in question. For purposes of this Agreement, an "Order" shall mean an order for product from the Company's Product Line placed by Distributor which shall be deemed received and counted toward achieving a Target Level upon acceptance by the Company and receipt by the Company of payment in full or an irrevocable letter of credit for the full amount of the invoice price for the products purchased in such order, subject to reduction for returns and allowances, other than returns, allowances or orders cancelled by a customer of the Distributor solely as a result of the failure of the Company to fill such order in a commercially reasonable time and
Examples of Unearned fee in a sentence
Unearned fee in any single evaluation period or year may not be carried forward into a subsequent evaluation period or year.