Cancellation Fee - An MPACT Contract may be Cancelled for any of the following:

Cancellation Fee - An MPACT Contract may be Cancelled for any of the following: A. The Purchaser submits a written request. B. The Purchaser fails to make payments pursuant to the Master MPACT and/or the Participation and Payment Schedule. C. The Purchaser fails to make a Contract payment within forty-five (45) days of the first payment due date following the close of the MPACT Enrollment period during which the MPACT Application was submitted. Fifty percent (50%) of the amount paid into the Trust Fund, up to a maximum of one hundred fifty dollars ($150.00), excluding Administrative Fees, will be assessed upon the Cancellation of an MPACT Contract. The Cancellation Fee will be waived in the event of death or disability of the Qualified Beneficiary or with proof of scholarship. In the event of death or disability of the Qualified Beneficiary, the Purchaser must submit acceptable documentation along with a written request at the time of application for a refund.