It is $99 per receiver (a $50 off the listed price of a 505) and you get $50 credit of PPV per receiver. You will see a $99 per receiver charge on your next bill.
The service rep's call was confusing because they talk about the $50 off the list and the $50 credit of PPV. It almost sounded like you are getting it for free but you are not. I am looking at my bill now.