Bank of America 12/30/2021 - Laserfiche WebLink

Washington Alaska Public Sector Group Amended Schedule of Fees and Rebates "Total Credit Losses"means,for any Calculation Period,the sum of(i)Bank of America's Credit Losses on the Card Accounts for the Calculation Period and(ii)Bank of America's Credit Losses on the Card Accounts for any previous Calculation Period which have not been applied against any rebate payable under the Agreement. "Transaction Volume"means,for any Calculation Period,the total dollar amount of purchase Transactions made with the Cards during the Calculation Period,less the total dollar amount of:returned purchases,credit • adjustments,Transactions resulting from Unauthorized Use,and disputed charges.Cash advances and Convenience Checks are not included in Transaction Volume. REBATE CONDITIONS: During the Calculation Period,the program must meet all of the following conditions in order to qualify for a rebate: 1. Local Public Body pays Bank of America the total amount of the new balance shown as due on each Billing Statement on or before the Payment Due Date;and 2. Local Public Body has not breached any obligation,covenant,representation or warranty contained in this Agreement;and 3. Calculation Period Transaction Volume meets the minimum volume requirement as set out in the Standard Transactions Rebate Multiplier Table;and REBATE CALCULATION AND PAYMENT: In the event that all of the above Rebate Conditions are met with respect to the Calculation Period,Bank of America will pay a rebate to Local Public Body,which shall be calculated at the end of the Calculation Period. The Rebate Multiplier will be determined based on(1)The combined transaction volume from all participating political subdivisions,and(2)The transaction volume from the individual Local Public Body and(3)the cycle and grace period for the individual Local Public Body. The Rebate Multiplier will be determined based an the quarterly Standard Transaction Volume times four. The Rebate Multiplier will be applied to the quarterly Transaction Volume. ((Quarterly Transaction Volume for Standard Transactions x applicable Standard Transaction Rebate Multiplier as determined above)+ (Quarterly Transaction Volume for Large Ticket and Partner Program Transactions x Large Ticket/Partner Program Transaction Rebate Multiplier)—Total Credit Losses Within 90 days after the end of each agreement year,Bank of America will"true up"and pay the annualized rebate j4 based on the following equation: (((Annual Transaction Volume for Standard Transactions x Standard Transaction Rebate Multiplier)+(Annual Transaction Volume for Large Ticket and Partner Program Transactions x Large Ticket/Partner Program Transaction Rebate Multiplier)—Rebate paid for Quarters 1,2 and 3 of the Agreement year)—Fourth Calculation period Credit losses After the end of each agreement year,Bank of America will calculate the annualized rebate amount due Company based upon the formula above. Any adjustment between the rebate amount due for the agreement year and rebates previously paid for that period will be made to the last quarterly rebate payment for the agreement year.Bank of America will pay Company any amount due within 90 days following the end of each agreement year. Should Company owe Bank of America more than the rebate amount due for the last quarter of the agreement year, Company shall pay Bank of America any amount due within 90 days following the end of each agreement year. ((Transaction Volume for Standard Transactions x Standard Transaction Rebate Multiplier)+(Transaction Volume for Large Ticket Interchange Transactions x Large Ticket interchange Transaction Rebate Multiplier))—Total Credit Losses