Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such standby Letters of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this [Section 3.3] in accordance with their respective Revolving Credit Commitment Percentages.
Commissions. Employee shall be eligible to earn commission compensation on a monthly basis in arrears in an amount equal to 2.50% of the adjusted gross profit from the sale of franchise exclusive products, adjusted for all deductions from gross profit incurred by the Company, including but not limited to promotional expense, advertising expense, the cost of all product samples, and returns. Employee shall earn an additional commission related to the sale of franchise exclusive products to international locations, to be calculated in the same manner the domestic commission. The monthly commissions referenced in this Section shall be calculated and paid, as applicable, within thirty (30) days of the end of each month, consistent with past practice. Employee’s commission compensation eligibility and rate shall be reviewed at least annually, and, in the discretion of the Company, may be prospectively adjusted upward from time to time based upon the performance of Employee, the financial condition of the Company, prevailing industry trends, and such other factors as Company considers relevant.
Commissions. Executive shall not be eligible for commissions on any sales or for any sales involvement.
XX # Compensation received as an Independent Contractor reportable on Form 1099.
XX # Form 1099 Compensation:
Commissions. shall be responsible to Broker for a real estate sales commission at Closing (but only in the event of a Closing in strict accordance with this Agreement) in accordance with a separate agreement between and Broker. Broker may share its commission with any other licensed broker involved in this transaction, but the payment of the commission by to Broker shall fully satisfy any obligations of to pay a commission hereunder. Under no circumstances shall owe a commission or other compensation directly to any other broker, agent or person. Any cooperating broker shall not be an affiliate, subsidiary or related in any way to . Other than as stated above in this Section 8.6, and each represent and warrant to the other that no real estate brokerage commission is payable to any person or entity in connection with the transaction contemplated hereby, and each agrees to and does hereby indemnify and hold the other harmless against the payment of any commission to any other person or entity claiming by, through or under or , as applicable. This indemnification shall extend to any and all claims, liabilities, costs and expenses (including reasonable attorneys’ fees and litigation costs) arising as a result of such claims and shall survive the Closing.
Commissions. Sellers and Purchaser mutually represent and warrant that no real estate commission, finders' or brokers' fee has been or will be incurred in connection with this Agreement for the sale of Assets contemplated hereby. Each Party agrees to indemnify and hold the other harmless from and against any and all real estate commissions, finders' fees or brokers' fees due or claimed to be due in connection with this transaction and attributable to the indemnifying Party, such indemnity to include reasonable attorneys' fees and costs incurred in connection with any such claim.
Letter of Credit. At ’s election, in lieu of the Deposit provided in Section 21, shall, upon the mutual execution and delivery of this Lease, deliver to an irrevocable, unconditional and transferable standby Letter of Credit (“Letter of Credit”), in the form approved by and meeting the requirements of this [Section 22], in the amount stated in the Basic Lease Information. The following provisions shall apply to the Letter of Credit:
Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.
Letter of Credit Participation. Immediately upon the issuance of each other Letter of Credit hereunder, each Revolving Loan Lender shall be deemed to have automatically, irrevocably and unconditionally purchased and received from the applicable Issuing Bank an undivided interest and participation in and to such Letter of Credit, the obligations of the applicable Borrower in respect thereof and the liability of such Issuing Bank thereunder (collectively, an “L/C Interest”) in an amount equal to the amount available for drawing under such Letter of Credit multiplied by such Revolving Loan Lender’s Revolving Pro Rata Share. The applicable Issuing Bank will notify each Revolving Loan Lender promptly upon presentation to it of an L/C Draft or upon any other draw under a Letter of Credit. On or before the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, in the case of any other draw on a Letter of Credit, on demand by the Administrative Agent or such Issuing Bank, each Revolving Loan Lender shall make payment to the Administrative Agent, for the account of the applicable Issuing Bank, in immediately available funds in the applicable Agreed Currency in an amount equal to such Revolving Loan Lender’s Revolving Pro Rata Share of the amount of such payment or draw. The obligation of each Revolving Loan Lender to reimburse the applicable Issuing Bank under this Section 3.6 shall be unconditional, continuing, irrevocable and absolute. In the event that any Revolving Loan Lender fails to make payment to the Administrative Agent of any amount due under this Section 3.6, the Administrative Agent shall be entitled to receive, retain and apply against such obligation the principal and interest otherwise payable to such Revolving Loan Lender hereunder until the Administrative Agent receives such payment from such Revolving Loan Lender or such obligation is otherwise fully satisfied; provided, however, that nothing contained in this sentence shall relieve such Revolving Loan Lender of its obligation to reimburse any Issuing Bank for such amounts in accordance with this Section 3.6.
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