What does contingent active under contract mean?

contingent active under contract is a term used in life insurance and annuities. It simply refers to the amount of dollars in coverage that an insured is eligible to receive. The amount is contingent on the insured passing away while the life insurance or annuity policy is in effect.

What does contingent active mean in a lease agreement?

lease contingencies are conditions that have to be met before a lease can be finalized. For example, if your credit report shows that you have a bankruptcy filing, the lessor will likely require you to give them additional information about your finances before they will accept your offer. Contingent active is the term that’s used when a lease agreement includes a lease contingency clause.

What does contingent active mean in real estate?

A contingent commission is earned when the sale of your property closes and the buyer’s lender provides you with a signed purchase agreement. Contingent commission is typically earned by a real estate agent on the sale of a home that they personally listed.

What does contingent active mean in a contract?

Contingent active is another way of saying leased at will. It means the tenant has the right to terminate the lease at any time, with or without cause, as long as the tenant gives the landlord reasonable notice. If the tenant decides to terminate the lease, the tenant must return possession of the leased premises to the landlord.

What does contingent active mean in a commercial lease?

If a tenant is required to maintain contingent active status, then the tenant must maintain a certain percentage of its current workforce on the leased property with a certain amount of work in progress. This is typically a minimum number that is required to keep the tenant current on the leased space.