Common use of Administrative Penalty Clause in Contracts

Administrative Penalty. That Nationstar shall pay an Administrative Penalty of Seven Hundred And Fifty Thousand Dollars ($750,000) to be distributed equally among each Participating State (each Participating State will receive payment of $14,705.88) (the “per-state payment”). Nationstar shall pay the total Administrative Penalty amount within ten (10) calendar days following the Effective Date of this Agreement, by paying each Participating State the per-state payment by the means designated by each State. To the extent that Nationstar does not pay out the total Administrative Penalty within ten (10) calendar days of the Effective Date of this Agreement, then Nationstar shall deposit into the Qualified Settlement Fund Distribution Account within five (5) calendar days thereafter, for the benefit of each Participating State that has not been paid, that state’s portion of the Administrative Penalty, which amounts shall be for further administration by the Settlement Administrator.

Administrative Penalty. That Nationstar shall pay an Administrative Penalty of Seven Hundred And Fifty Thousand Dollars ($750,000) to be distributed equally among each Participating State (each Participating State will receive payment of $14,705.88) (the “per-state payment”)- . Nationstar shall pay the total Administrative Penalty amount within ten (10) calendar days following the Effective Date of this Agreement, by paying each Participating State the per-state payment by the means designated by each State. To the extent that Nationstar does not pay out the total Administrative Penalty within ten (10) calendar days of the Effective Date of this Agreement, then Nationstar shall deposit into the Qualified Settlement Fund Distribution Account within five (5) calendar days thereafter, for the benefit of each Participating State that has not been paid, that state’s portion of the Administrative Penalty, which amounts shall be for further administration by the Settlement Administrator.