Calculation/Payment of the Retainer Rebate Sample Clauses

Calculation/Payment of the Retainer Rebate. (a) On each anniversary of the Effective Date of this Agreement, the parties shall determine whether a Retainer Rebate is due to CFSC (i.e., such that a credit exists in CFSC’s favor) pursuant to the schedule set forth in Section 4.1 of this Agreement. To the extent that any Retainer Rebate is due to CFSC, CFSC shall credit such excess amount against payments of the Monthly Retainer due in the next year. In the event that the anniversary date in question is the Termination Date, Servicing shall pay such Retainer Rebate amount to CFSC in cash within thirty (30) days of the Termination Date. (b) Notwithstanding anything to the contrary in Section 4.2(a) above, CFSC may elect, from time to time during any Contract Year at its option and in its discretion, to calculate whether a Retainer Rebate is due to CFSC (i.e., such that a credit exists in CFSC’s favor) pursuant to Section 4.1 of this Agreement. To the extent that any Retainer Rebate is due to CFSC, CFSC, at its option, may elect to credit such amount against the Monthly Retainer to be paid to Servicing for the remaining calendar month(s); provided that CFSC may not exercise such election until all amounts that would be payable based on such computation during such Contract Year have first been paid to Servicing. (c) Upon the termination of this Agreement at any time other than an anniversary thereof, the parties shall determine whether a Retainer Rebate is due to CFSC (i.e., such that a credit exists in CFSC’s favor) by multiplying (i) the Monthly Retainer for such part year, by (ii) the Retainer Rebate Percentage applicable to such part year as taken from the schedule set forth in Section 4.1 of this Agreement. To the extent that any Retainer Rebate is due to CFSC, Servicing shall pay such Retainer Rebate to CFSC in cash within ninety (90) days of the termination of this Agreement.
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