Common use of Contract Specifications Clause in Contracts

Contract Specifications. Provider will not submit a Contract to JMAC for ----------------------- purchase unless it meets each of the following specifications (the "Contract Specifications"): (a) the Contract (i) is in the form prescribed or approved by JMAC, (ii) has not been rescinded, (iii) is a legal, enforceable, and undisputed obligation of the person(s) who owes or guarantees payments under the Contract ("Obligor"), subject to any express right of cancellation provided in the Contract, and (iv) is in compliance with all requirements of applicable federal, state and local laws and regulations, including without limitation applicable usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Federal Trade Commission Act, and other federal and state consumer credit laws and regulations; (b) Provider has received the cash down payment, if any, described in the Contract and no part of that cash down payment has been financed in any manner, and all amounts indicated in the Contract to be paid by Provider to any third party, if any, have been paid; and (c) the health care services and other services and products incidental thereto ("Health Care Services") financed by the Contract will be substantially initiated or completed within 30 days following the date of the Contract.

Contract Specifications. Provider will not submit a Contract to JMAC for ----------------------- purchase unless it meets each of the following specifications (the "Contract Specifications"): (a) the Contract (i) is in the form prescribed or approved by JMAC, (ii) has not been rescinded, (iii) is a legal, enforceable, and undisputed obligation of the person(s) who owes or guarantees payments under the Contract ("ObligorOBLIGOR"), subject to any express right of cancellation provided in the Contract, and (iv) is in compliance with all requirements of applicable federal, state and local laws and regulations, including without limitation applicable usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Federal Trade Commission Act, and other federal and state consumer credit laws and regulations; (b) Provider has received the cash down payment, if any, described in the Contract and no part of that cash down payment has been financed in any manner, and all amounts indicated in the Contract to be paid by Provider to any third party, if any, have been paid; and (c) the health care services and other services and products incidental thereto ("Health Care ServicesHEALTH CARE SERVICES") financed by the Contract will be substantially initiated or completed within 30 days following the date of the Contract.