Common use of Administrative Penalty Clause in Contracts

Administrative Penalty. That PHH shall pay an administrative penalty of eight million, eight hundred and twenty-three thousand, five hundred and fifteen dollars ($8,823,515). Each Participating State will receive a payment of one hundred and fifty nine thousand, nine hundred and sixty seven dollars ($159,967), with each Participating State that also took part in an examination (Arizona, Georgia, Louisiana, and Massachusetts) receiving an additional one hundred and sixty five thousand, thirty three dollars ($165,033). PHH shall pay this administrative penalty by the means designated by each Participating State within fifteen (15) calendar days following the Effective Date of this Agreement.

Administrative Penalty. That PHH shall pay an administrative penalty of eight million, eight hundred and twenty-three thousand, five hundred and fifteen dollars ($8,823,515). Each Participating State will receive a payment of one hundred and fifty nine thousand, nine hundred and sixty seven dollars ($159,967), with each Participating State that also took part in an examination (Arizona, Georgia, Florida, Louisiana, and Massachusetts) receiving an additional one hundred and sixty five thousand, thirty three dollars ($165,033). PHH shall pay this administrative penalty by the means designated by each Participating State within fifteen (15) calendar days following the Effective Date of this Agreement.