Legal Event; Consequences Clause Samples
The 'Legal Event; Consequences' clause defines what constitutes a significant legal occurrence under the agreement and outlines the resulting actions or remedies available to the parties. Typically, this clause specifies events such as bankruptcy, regulatory intervention, or legal prohibitions affecting a party, and details the steps that must be taken if such an event occurs, such as suspension of obligations, termination rights, or triggering of default provisions. Its core practical function is to provide a clear framework for managing the risks and responses associated with major legal disruptions, ensuring both parties understand their rights and obligations in the face of unforeseen legal developments.
Legal Event; Consequences. Notwithstanding any other provision of this Agreement, if the governmental agencies that administer the Medicare, Medicaid, or other federal programs (or their representatives or agents) or any other federal, state, or local governmental agency, or any court or administrative tribunal passes, issues, or promulgates any law, rule, regulation, standard, interpretation, order, decision or judgment, including but not limited to, those relating to any regulations pursuant to state or federal anti-kickback or self-referral statutes (collectively or individually as a “Legal Event”), which, in the good faith judgment of one party (the “Noticing Party”), materially and adversely affects either party’s licensure, accreditation, certification, or ability to refer, to accept any referral, to ▇▇▇▇, to claim, to present a ▇▇▇▇ or claim, or to receive payment or reimbursement from any federal, state or local governmental or non- governmental payor, or which subjects the Noticing Party to a risk of prosecution or civil monetary penalty, or which, in the good faith judgment of the Noticing Party, indicates a rule or regulation with which the Noticing Party desires further compliance, then the Noticing Party may give the other party notice of intent to amend or terminate this Agreement in accordance with section F.3.b herein.
Legal Event; Consequences. Notwithstanding any other provision of this Agreement, if any federal, state or local governmental or nongovernmental agency, or any court or administrative tribunal passes, issues or promulgates any law, rule, regulation, standard, interpretation, order, decision or judgment (collectively or individually, “Legal Event”) which, in the good faith judgment of either party (the Noticing Party”), renders this Agreement illegal or subjects the Noticing Party to a risk of prosecution or monetary penalty, or which, in good faith judgment of the Noticing Party, indicates a rule or regulation with which the Noticing Party desires further compliance, then the Noticing Party may give the other party notice of intent to amend or terminate this Agreement in accordance with the next subparagraph.
Legal Event; Consequences. Notwithstanding any other provision of this Agreement, if the governmental agencies that administer Medicare, Medicaid or other federally or state funded programs (or their representatives or agents), or any other federal, state or local governmental or nongovernmental agency, or any court or administrative tribunal passes, issues or promulgates any law, rule, regulation, standard, interpretation, order, opinion, decision or judgment, including but not limited to those relating to any regulations pursuant to state or federal anti-kickback or self-referral statutes (collectively or individually, a “Legal Event”), which, in the good faith judgment of one Party (the “Noticing Party”), materially and adversely affects either Party’s licensure, accreditation, certification, or ability to refer, to accept any referral, to bill, to claim, to present a bill or claim, or to receive payment or reimbursement from any federal, state or local governmental or nongovernmental payer, or which subjects the Noticing Party to a risk of prosecution or penalty, or if in the reasonable opinion of counsel to either Party any term or provision of this Agreement could trigger a Legal Event, then the Noticing Party may give the other Party notice of intent to amend or terminate this Agreement in accordance with this Section.