How is Income Source defined in a legal contract?
- Income Source means any and all streams of income for a [organization], including community development charges for which it benefits, rent, user fees, other charges, any gifts or grants received, money received from funds invested on behalf of the [organization], and proceeds from the sale or lease of land and facilities. Seen in 13 SEC filings.
- Income Source means total income other than SSI and includes income such as retirement income, disability income, trust fund income, Social Security income, Veteran's Affairs disability income. Seen in 3 SEC filings.
- Income Source means any individual, corporation or other entity that owes or makes payments, whether periodically or as a lump sum, to or on behalf of a payor. Seen in 1 SEC filing.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Income Source means all monetary inflows to an [organization], including but not limited to fees, rent, gifts, investments and sale proceeds.
Relevant Contract Types
Relevant Circumstances
- Negotiating property leases
- Setting out terms for investment deals
- Establishing partnerships
Relevant Sectors
Genie Definition 2
- Income Source means a party obliged to make periodic or lump-sum payments to a [receiver].
Relevant Contract Types
Relevant Circumstances
- Negotiating loan repayment schedules
- Establishing service provider contracts
Relevant Sectors
Genie Definition 3
- Income Source means all income other than SSI, inclusive of retirement, disability, trust fund, Social Security, Veteran’s Affairs disability income.
Relevant Contract Types
Relevant Circumstances
- Negotiating salary and benefits packages
- Setting up pension schemes
Relevant Sectors
Are you creating, reviewing or negotiating a document?
🚀 Try our AI Legal Assistant! It can suggest a definition just for your specific needs (Simply import your contract, then ask it to draft a definition suitable for your document, that's it!)
Income Source means all monetary inflows to an [organization], including but not limited to fees, rent, gifts, investments and sale proceeds.
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