Common use of Cancellation/Refund Clause in Contracts

Cancellation/Refund. a) If cancellation occurs according to the provisions contained in Program contract agreement, Company agrees to refund Dealer the unearned portion for the amount paid to Company by Dealer less any applicable cancellation and/or administration fees. Dealer agrees to refund Consumer or consumer’s lender/lessor, if the customer cost was funded by such lender/lessor, the unearned portion of the amount paid to Dealer less any applicable cancellation and/or administration fees. The refund amount will be determined by cancellation rules described in the Program contract agreement signed by the Consumer and the Dealer or by the applicable statutory cancellation provision. Refunds must be paid to the appropriate party within thirty (30) days of the refund request or sooner if mandated by law. If the refund is not paid timely by Dealer as outlined in this Agreement or by the laws of the state, Dealer is responsible for all penalties or costs due under the Program contract agreement(s). b) Dealer understands that cancellation refunds may be based upon amounts net of Dealer management fee overrides. Dealer’s obligations to refund consumers, as described herein, shall survive the termination of this Agreement until all contracts are fully earned. The Dealer may provide or arrange to have a third party process refunds on their behalf