Interim Credits / Fees. SESAC shall, within forty-five (45) days following its receipt of LICENSEE’s 2019 Annual Report, confirm the interim amounts billed under Sections 3 or 6.a of the July 23, 2015 SESAC-RMLC Settlement Agreement (such xxxxxxxx shall hereinafter be referred to as “LICENSEE’s Interim Fee Xxxxxxxx”). Any credits on account for LICENSEE (less LICENSEE’s Interim Fee Xxxxxxxx not paid) in excess of three (3) times LICENSEE’s Final Annual Fee for 2019 shall be refunded to the current owner of Station) within ninety (90) days of SESAC’s receipt of LICENSEE’s 2019 Annual Report, with the remainder applied as a credit to LICENSEE’s subsequent invoices during the Term, if any (“2019 Operational Credit”). At the end of the Term, any remaining 2019 Operational Credit will be refunded to the current station owner. For the avoidance of doubt, LICENSEE’s Interim Fee Xxxxxxxx do not include any late payment charges billed or paid by LICENSEE. Upon SESAC’s processing of LICENSEE’s 2019 Annual Report, to the extent any additional amounts are due to SESAC in excess of LICENSEE’s Interim Fee Xxxxxxxx, such amounts shall be invoiced in twelve (12) equal monthly installments.
