Vendor Commissions definition
Vendor Commissions means any amount that are payable by any vendor to the Franchisor as commissions on services or merchandise (other than fitness equipment pursuant to Equipment Supply Agreements) sold by such vendor to a Franchisee, or to a Non-Securitization Entity in respect of a Retained Corporate-Owned Store, pursuant to a Securitized Authorized Vendor Contract.
Vendor Commissions means any amount that are payable by any vendor to the Franchisor as commissions on services or merchandise (other than fitness equipment pursuant to Equipment Supply Agreements) sold by such vendor to a Franchisee, or to a Non-Securitization Entity in respect of a Retained Corporate-Owned StoreClub, pursuant to a Securitized Authorized Vendor Contract. “Warm Back-Up Management Duties” has the meaning set forth in the Back-Up Management Agreement. “Warm Back-Up Management Trigger Event” means the occurrence and continuation of (i) any event that causes a Cash Trapping Period to begin and that continues for at least two (2) consecutive Quarterly Calculation Dates or (ii) a Rapid Amortization Event, in each case, that has not been waived or approved by the Controlling Class Representative, provided that any Rapid Amortization Event pursuant to clause (ii) of the definition thereof shall not be a Warmhas the meaning set forth in the Back-Up Management Trigger Event unless such Rapid Amortization Event has not been cured within six (6) months from the date of such Rapid Amortization EventAgreement. “Webjoin Fees” means any amounts that are payable to the Franchisor in respect of any new member that joins a Store using a website maintained by a third-party payment processor. “Welfare Plan” means any “employee welfare benefit plan” as such term is defined in Section 3(1) of ERISA. “Workout Fees” has the meaning set forth in the Servicing Agreement.
Examples of Vendor Commissions in a sentence
Concession Vendor Commissions Concession Vendors who are not selling alcohol shall receive a commission based upon sales.