Common use of HMO AGREEMENTS Clause in Contracts

HMO AGREEMENTS. (i) Unless otherwise requested by Holdings, Continental and Holdings shall use commercially reasonable efforts to cause all agreements with HMOs ("HMO Agreements") that provide medical services under a Continental Welfare Plan entered and that are entered into or renewed on or after the IPO Date and prior to any date determined by Continental in its sole discretion to provide that Holdings shall be eligible for a mirror HMO Agreement effective as of the IPO Date with substantially the same terms and conditions as are contained in the HMO Agreement to which Continental is a party; provided that such arrangements shall be mutually beneficial to both Continental and Holdings. Such terms and conditions shall include the financial and termination provisions of the HMO Agreements. (ii) If Continental and Holdings determine that they will not be successful in negotiating arrangements that will permit compliance with the foregoing paragraph and to the extent that such an HMO Agreement is not addressed in such paragraph, Holdings will be responsible for procuring its own HMO Agreements effective on or before the IPO Date.