Adjustment of Assessment Fees. Within 60 days of the end of each fiscal year of WPHLI, the WPHLI will prepare and provide to the Owner a written calculation of Assessment Fees payable for such year, based on Period Reports provided by the Licensee, together with a written statement of total Assessment Fees paid by the Owner during such year. If the total amount of Assessment Fees paid by the Owner during such year (the “Total Paid”) is greater than $75,000 and exceeds 5% of the Owner’s Revenue for that fiscal year (the “5% Calculation”), then WPHLI will credit the difference between the Total Paid and the greater of $75,000 and the 5% Calculation, without interest on future obligations payable to the WPHLI, by the Owner.
