Common use of Financial Settlement upon Termination Clause in Contracts

Financial Settlement upon Termination. A. If CMS terminates the Agreement or the Agreement Performance Period is terminated by either party, except as otherwise provided in this Section, CMS shall conduct settlement for the entire Performance Year in which the Agreement is terminated in accordance with Section 12.04 of the Agreement. B. If the Agreement or Agreement Performance Period is terminated by CMS under Section 17.02, CMS shall not make any payments of Shared Savings to the DCE, and the DCE shall remain liable for any Shared Losses, for the Performance Year in which termination becomes effective. C. If the DCE selected the Financial Guarantee Participation Commitment Mechanism and the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of the DCE’s second Performance Year, CMS shall pursue payment for the Retention Guarantee Amount under the DCE’s financial guarantee required under Section 12.05 or Retention Guarantee described in Section 12.03.B. D. If CMS deems that the DCE selected the Retention Withhold Participation Commitment Mechanism as described in Section 12.03.C and the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of the DCE’s second Performance Year, CMS will perform Final Financial Settlement for the DCE’s first Performance Year using the Retention Withhold as described in Appendix B, such that the DCE will not earn back the Retention Withhold Amount, as described in Section 12.03.C and Section V.D.1 of Appendix B, as described in Section 12.03.C. E. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of a Performance Year, with an effective date no later than 30 Days after the date of that notice, no annual settlement shall be conducted for that Performance Year and the DCE shall neither be eligible to receive Shared Savings nor liable for Shared Losses for such Performance Year. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 prior to the end of a Performance Year with an effective date greater than 30 Days after the Termination Without Liability Date, the DCE shall not be eligible to receive Shared Savings but shall remain liable for Shared Losses for such Performance Year. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 with an effective date at the end of that Performance Year, CMS shall conduct settlement for the Performance Year in which the DCE voluntarily terminates the Agreement Performance Period in accordance with Section 12.04. F. Upon termination or expiration of the Agreement, the DCE shall immediately pay all Other Monies Owed to CMS and shall remain liable for any amounts included in a settlement report issued for any Performance Year in accordance with Section 12.04.

Financial Settlement upon Termination. A. If CMS terminates the Agreement or the Agreement Performance Period is terminated by either party, except as otherwise provided in this Section, CMS shall conduct settlement for the entire Performance Year in which the Agreement is terminated in accordance with Section 12.04 of the Agreement. B. If the Agreement or Agreement Performance Period is terminated by CMS under Section 17.02, CMS shall not make any payments of Shared Savings to the DCE, and the DCE shall remain liable for any Shared Losses, for the Performance Year in which termination becomes effective. C. If the DCE selected the Financial Guarantee Participation Commitment Mechanism and the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of the DCE’s 's second Performance Year, CMS shall pursue payment for the Retention Guarantee Amount under the DCE’s 's financial guarantee required under Section 12.05 or Retention Guarantee described in Section 12.03.B. D. If CMS deems that the DCE selected the Retention Withhold Participation Commitment Mechanism as described in Section 12.03.C and the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of the DCE’s 's second Performance Year, CMS will perform Final Financial Settlement for the DCE’s 's first Performance Year using the Retention Withhold as described in Appendix B, such that the DCE will not earn back the Retention Withhold Amount, as described in Section 12.03.C and Section V.D.1 of Appendix B, as described in Section 12.03.C.12.03.C. If the DCE's first Performance Year is Performance Year 2021, and CMS deems that the DCE selected the Retention Withhold Participation Commitment Mechanism as described in Section 12.03.C and the DCE voluntarily terminates the Agreement pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of the DCE's second Performance Year, CMS will also perform Provisional Financial Settlement for the DCE's first Performance Year using the Retention Withhold, as described in Appendix B. E. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 by providing notice to CMS on or before the Termination Without Liability Date of a Performance Year, with an effective date no later than 30 Days after the date of that notice, no annual settlement shall be conducted for that Performance Year and the DCE shall neither be eligible to receive Shared Savings nor liable for Shared Losses for such Performance Year. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 prior to the end of a Performance Year with an effective date greater than 30 Days after the Termination Without Liability Date, the DCE shall not be eligible to receive Shared Savings but shall remain liable for Shared Losses for such Performance Year. If the DCE voluntarily terminates the Agreement Performance Period pursuant to Section 17.03 with an effective date at the end of that Performance Year, CMS shall conduct settlement for the Performance Year in which the DCE voluntarily terminates the Agreement Performance Period in accordance with pursuant to Section 12.04. F. Upon termination or expiration of the Agreement, the DCE shall immediately pay all Other Monies Owed to CMS and shall remain liable for any amounts included in a settlement report issued for any Performance Year in accordance with Section 12.04.