Common use of Review of Fees Clause in Contracts

Review of Fees. (a) Subject to the provisions of clause 11.1 above, at the end of each annual period commencing as of January 1, 2006, Service Provider will review the charges, costs and expenses actually incurred by Service Provider in providing any Service, as well as the calculation of any related Fees (collectively, "Actual Cost") during the previous twelve (12) months. In the event that Service Provider determines that the Actual Cost for any Service differs from that set forth in the AOP, Service Provider will deliver to Company documentation for such Actual Cost, and will adjust the appropriate Fees retroactively and/or prospectively as necessary to reflect such differences; provided, however, that no such adjustment shall increase or decrease the Fees payable in respect of any Service by more than 15% of the initial related Fees currently set forth in the related Schedules for such Service.

Appears in 6 contracts

Samples: Master Services Agreement (Security Capital Assurance LTD), Master Services Agreement (Security Capital Assurance LTD), Master Services Agreement (Security Capital Assurance LTD)

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Review of Fees. (a) Subject to the provisions of clause 11.1 above, at the end of each annual period commencing as of January 1, 2006, Service Provider will review the charges, costs and expenses actually incurred by Service Provider in providing any Service, as well as the calculation of any related Fees (collectively, "β€œActual Cost"”) during the previous twelve (12) months. In the event that Service Provider determines that the Actual Cost for any Service differs from that set forth in the AOP, Service Provider will deliver to Company documentation for such Actual Cost, and will adjust the appropriate Fees retroactively and/or prospectively as necessary to reflect such differences; provided, however, that no such adjustment shall increase or decrease the Fees payable in respect of any Service by more than 15% of the initial related Fees currently set forth in the related Schedules for such Service.

Appears in 2 contracts

Samples: Master Services Agreement (Security Capital Assurance LTD), Master Services Agreement (Security Capital Assurance LTD)

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