Common use of Invoicing and Payment of Fees Clause in Contracts

Invoicing and Payment of Fees. On a quarterly basis, K12 will submit to Customer an invoice for students enrolled in the Program during the prior calendar quarter. Such invoices shall be based on the agreed upon per student annual fee as outlined in Section 4.1 and Exhibit C amortized on a quarterly basis. In the event that the State does not provide Customer with full funding for a student enrolled in the Program, Customer shall only be required to remit the agreed upon fees adjusted by the percentage of total funding the student generated for the Customer during his or her enrollment in the Program. Within thirty (30) days of receipt of the final funding calculations from the FEFP, Customer and K12 will reconcile funding received per student based upon the Pricing schedule outlined in Section 4.1 and Exhibit C to payments made to K12 for students who successfully complete the Program. Any variance in the number of funded students will be corrected by either Customer or K12 within thirty (30) days of the reconciliation. 6.1.1 Notwithstanding anything to the contrary in this Agreement, if the education funding level of FEFP decreases below that indicated in Exhibit C, the Customer will provide written notice thereof (including the new total funding level to be provided for such student from all state and federal sources) to K12 as soon as practicable, then, at its option, K12 may elect to either accept the new funding level or terminate the Agreement. K12 is deemed to have accepted the new funding level unless it provides written notice of termination to the Customer within thirty (30) days of receipt of the Customer's notice to K12.