Description of Rebate Program Sample Clauses

Description of Rebate Program. When Participants receive prescriptions filled at Participating Pharmacies, Pharmacy BenefitDirect will capture information related to each claim through its claims processing system. On a quarterly basis, Pharmacy BenefitDirect will compile claim information and submit it to drug manufacturers participating in the Rebate Program for the purpose of obtaining rebates. Pharmacy BenefitDirect will pay Client on at least a quarterly basis in accordance with its standard allocation process, any rebate payable to Client under the Rebate Program (minus any fees retained by Pharmacy BenefitDirect in partial payment of its fees), based on the volume of each contracted pharmaceutical product dispensed to Participants through Plans issued or administered by Client or CarePlus during the period covered by the allocation. Claims data shall be processed based on the formulary status of the drugs on the date dispensed. Pharmacy BenefitDirect shall have no obligation to make payments to Client under the Rebate Program except to the extent corresponding amounts have been received from participating manufacturers and any discrepancies between amounts billed to manufacturers and amounts received have been resolved. Client acknowledges that payments shall begin approximately 180 days after the end of the first full calendar year quarter from Client’s Program Participation Date with respect to CarePlus. Any amounts not distributed in the initial allocation will be distributed in subsequent regular quarterly allocations. Pharmacy BenefitDirect shall provide Client, in connection with each allocation, a rebate report for Client’s use in accurately allocating rebates to CarePlus, as the case may be, and for Client’s use in determining the cost of medications within a class of drugs. Upon Client’s receipt of payments under the Rebate Program and supporting reports from Pharmacy BenefitDirect, Client shall be responsible for distributing payments it receives under the Rebate Program to CarePlus, according to the terms of its agreements with CarePlus. Client agrees to disclose to CarePlus and obtain their written agreement to the retention by Pharmacy BenefitDirect of a portion of the amount otherwise payable to Client under the Rebate Program in payment of its service fees. Neither Client nor CarePlus will commit or agree to pay any amount it receives under the Rebate Program to a party other than CarePlus without first describing the proposed arrangement in detail to Pharmacy Bene...
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