Common use of CHANGES IN REIMBURSEMENT Clause in Contracts

CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) decrease in total operating revenue equal to or greater than three percent (3%) of the total operating revenue or (2) net income less than zero, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate such changes, including expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of the report to HUD, referred to above. HUD, as part of its normal oversight, will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to Section 19 . The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.

CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) a decrease in total operating revenue equal to or greater than three percent (3%) of the total operating revenue or (2) a net income less than zero, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate such changes, including expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of the report to HUD, referred to above. HUD, as part of its normal oversight, HUD will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to Section 19 19. The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.

CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) a decrease in total operating revenue equal to or greater than three percent (3%) of the total operating revenue or (2) a net income less than zero, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate such changes, including expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of the report to HUD, referred to above. HUD, as part of its normal oversight, will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to Section 19 . The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.

CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) a decrease in total operating revenue equal to or greater than three percent (3%) of the total operating revenue or (2) a net income less than zero, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate such changes, including expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of the report to HUD, referred to above. HUD, as part of its normal oversight, HUD will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to Section 19 18. The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.