Commission Receivables definition

Commission Receivables means, with respect to the Borrower and Guarantors, any receivables owed to the Borrower or Guarantor by an insurance carrier for commissions and production bonuses which are recorded as an asset in the books and records of the Borrower or Guarantor.
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Commission Receivables means, collectively, all present and future rights of the Loan Parties to payment from any Specified Insurer pursuant to the Insurer Agreement arising from the sale of goods or rendition of services to customers of such Specified Insurer and such Loan Party identified as “Contract assets – commissions receivable” on the balance sheet of the Borrower and its Subsidiaries.
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Commission Receivables means all receivables of the DE Brokerage Business in existence as of the Effective Time, as reflected on the Closing Date Statement, which have been earned in accordance with GAAP, except that (i) a receivable arising from a sale of property shall be treated as a Commission Receivable only if the closing of the sale and transfer of title occur prior to the Effective Time; and (ii) a receivable arising from a lease of property shall be treated as a Commission Receivable only if the applicable lease agreement has been fully executed by all parties prior to the Effective Time and if the commission related thereto is earned prior to the Effective Time (excepting only if part of a commission is paid prior to the Effective Time but payment of a remaining portion thereof is contingent on the future payment of rent by the tenant, in which case the remaining portion of the commission as and when paid after the Effective Time shall be treated as a Commission Receivable), but in no event shall Lease Renewal Commissions be treated as a Commission Receivable. Schedule 2.5.1 sets forth a list provided by Seller of all Commission Receivables as of April 30, 1999.
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Examples of Commission Receivables in a sentence

  • If Epic Energy is required by law to odorise the Gas, the Shipper shall reimburse Epic Energy for all costs incurred in odorising that Gas.

  • In citing the work of James de Vere Allen he highlights that one reason for the broad definition during the colonial era was not only related to their geographical position per se, nor how their knowledge might have been received by the metropole, but how they saw themselves or wanted to present themselves.

  • Under the contract, faculty cannot tell students they can get books elsewhere, but there is no restriction on putting the ISBN number on syllabi.

  • Marks emailed the Per-Share Purchase Price buyout calculation prepared by Little and Ward for Oliver’s shares at a rate of $3,950.15 per share price at close of business 31 December 2019, which did not include Open-Rep Commission Receivables.

  • Refers to financial assets that represent a contractual right to receive cash or another financial asset other than the Receivable from Insured, Receivable from Ceding Company and Commission Receivables.


More Definitions of Commission Receivables

Commission Receivables shall have the meaning set forth in Section 2.5.1.
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Related to Commission Receivables

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Accounts Receivable has the meaning set forth in Section 2.01(a).

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Collection site means the location of waste containers on collection day.

  • CPS means Consumer Portfolio Services, Inc., a California corporation and its successors.

  • Eligible Accounts Receivable means, on any date, all Receivables denominated in Dollars payable by Eligible Account Obligors, except: (i) billed Receivables that have not been paid by the date 30 days after the respective due dates therefor; (ii) any Receivable subject to any asserted defense, dispute, claim, offset or counterclaim, provided that, if any such defense, dispute, claim, offset or counterclaim is asserted with respect to such Receivable in an amount equal to a sum certain, then such Receivable shall be an Eligible Account Receivable to the extent the face amount thereof exceeds such sum certain; (iii) all such Receivables subject to any repurchase or return arrangement; (iv) Receivables of each Eligible Account Obligor to the extent that the Receivables of such Eligible Account Obligor exceed 10% of all Receivables; (v) all Receivables that are payable by their terms more than 30 days from the respective invoice dates therefor; (vi) any Receivable in which the Lenders do not have a valid and perfected first priority security interest, except that such security interest may be subject to statutory Liens in respect of First Purchase Crude Payables that are not delinquent; (vii) any Receivable of a Subsidiary with respect to which any event described in Subsection 9.01(f) or (g) shall have occurred and be continuing; (viii) Receivables with respect to which the account debtor is not a Person resident in the United States; (ix) Receivables with respect to which goods have been placed on consignment, guaranteed sale or other terms by reason of which the payment by the account debtor may be conditional; (x) Receivables with respect to which an invoice has not been sent prior to the date of any Borrowing Base Report in which such Receivable is included for purposes of calculation of the Borrowing Base; (xi) Receivables which represent obligations of local, state or federal Governmental Authorities, unless such Governmental Authority is a Governmental Authority of the United States of America and such Governmental Authority has properly acknowledged the receipt of the assignment of Eligible Accounts Receivables in compliance with the Federal Assignment of Claims Act with respect thereto; (xii) Receivables which arise out of any contract or order which, by its terms, forbids or makes void or unenforceable any assignment by the Company to the Administrative Agent, for the benefit of Lenders, of the Receivable arising with respect thereto; (xiii) Receivables evidenced by any instrument, unless such instrument has been delivered to the Administrative Agent for the benefit of the Lenders, and (xiv) Receivables that are otherwise identified as unsatisfactory to the Administrative Agent or the Majority Lenders using reasonable business judgment.