Common use of Compensation of BISYS Clause in Contracts

Compensation of BISYS. (A) Sub-Administration Fee. Commencing on the Conversion Date, for the services rendered, the facilities furnished and the expenses assumed by BISYS pursuant to this Agreement, the Administrator shall pay to BISYS compensation at an annual rate specified in Schedule A attached hereto. Such compensation shall be calculated and accrued daily, and paid to BISYS monthly. If the Conversion Date occurs subsequent to the first day of a month or termination of this Agreement occurs before the last day of a month, BISYS' compensation for that part of the month in which this Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of BISYS' compensation for the preceding month shall be made promptly.

Compensation of BISYS. (A) Sub-Administration Fee. Commencing on the Conversion Date, for the services rendered, the facilities furnished and the expenses assumed by BISYS pursuant to this Agreement, the Administrator shall pay to BISYS compensation at an annual rate specified in Schedule A attached hereto. Such compensation shall be calculated and accrued daily, and paid to BISYS monthly. If the Conversion Date occurs subsequent to the first day of a month or termination of this Agreement occurs before the last day of a month, BISYS' compensation for that part of the month in which this Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of BISYS' compensation for the preceding month shall be made promptly.