Common use of Fixed Payment Clause in Contracts

Fixed Payment. Healthpoint and DFB shall pay to the United States and the Participating States, collectively, the sum of twenty-eight million dollars ($28,000,000), plus accrued interest according to the following installment payment schedule: Payments to the United States: Within 5 days of the Effective Date of this Agreement $5,313,625.83 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 365 days after the Effective Date of this Agreement $3,942,367.55 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 730 days after the Effective Date of this Agreement $4,627,996.69 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 1,095 days after the Effective Date of this Agreement $5,313,625.83 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment Payments to the States: Within 5 days of the Effective Date of this Agreement $2,436,374.17 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 365 days after the Effective Date of this Agreement $1,807,632.45 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 730 days after the Effective Date of this Agreement $2,122,003.31 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment 1,095 days after the Effective Date of this Agreement $2,436,374.17 plus interest accrued at the rate of 1.25 percent per annum from September 27, 2012, until the date of payment All payments to the United States shall be made by electronic funds transfer pursuant to written instructions from the United States Department of Justice. All payments to the States shall be made pursuant to written instructions from the National Association of Medicaid Fraud Control Units Settlement Team. The Fixed Payment is a debt due and immediately owing to the United States and the Participating States. The entire principal balance of the Federal Settlement Amount or any portion thereof, plus any interest accrued on the principal as of the date of any prepayment, may be prepaid at any time without penalty. In the event of a Change in Control of Healthpoint or DFB before the final installment of the Fixed Payment is made, all remaining installment payments will be due within five (5) days of the date of the Change in Control of Healthpoint or DFB, and not on the date on the above installment payment schedule.