Common use of Plan Specifications Clause in Contracts

Plan Specifications. (a) CLIENT has provided a true, accurate and complete description of the Covered Drug benefits available to its Members. CLIENT shall retain the sole and complete discretionary authority to manage and control its Plan, including but not limited to, the authority to decide disputed claims under the Plan, eligibility reporting, financial reporting, and funding of claims. (b) CLIENT acknowledges that BENECARD PBF has relied upon the information provided by CLIENT and its representatives in offering the terms of this Agreement. CLIENT may, at any time, alter or amend its Plan Specifications and other Plan information; provided, CLIENT notifies BENECARD PBF in writing of all such alterations or amendments not less than sixty (60) days prior to their effective date. This notification should include events like, but not limited to, a change in status under the Employee Retirement Income Security Act of 1974 (ERISA) .If those alterations or amendments materially affect the CLIENT’s Rebate participation, BENECARD PBF’s duties or obligations under this Agreement, then the parties will negotiate in good faith for mutually acceptable modifications of this Agreement, including but not limited to, any adjustment that may be needed to the Prescription Pricing Schedule, the Rebate Guarantees or BENECARD PBF Fees. If CLIENT and BENECARD PBF are unable to agree upon modifications, then either CLIENT or BENECARD PBF may terminate this Agreement as set out in Article IV hereof.

Plan Specifications. (a) CLIENT has provided a true, accurate and complete description of the Covered Drug benefits available to its Members. CLIENT shall retain the sole and complete discretionary authority to manage and control its Plan, including but not limited to, the authority to decide disputed claims under the Plan, eligibility reporting, financial reporting, and funding of claims. (b) CLIENT acknowledges that BENECARD PBF has relied upon the information provided by CLIENT and its representatives in offering the terms of this Agreement. CLIENT may, at any time, alter or amend its Plan Specifications and other Plan information; provided, CLIENT notifies BENECARD PBF in writing of all such alterations or amendments not less than sixty (60) days prior to their effective date. This notification should include events like, but not limited to, a change in status under the Employee Retirement Income Security Act of 1974 (ERISA) .If If those alterations or amendments materially affect the CLIENT’s Rebate participation, BENECARD PBF’s duties or obligations under this Agreement, then the parties will negotiate in good faith for mutually acceptable modifications of this Agreement, including but not limited to, any adjustment that may be needed to the Prescription Pricing Schedule, the Rebate Guarantees or BENECARD PBF Fees. If CLIENT and BENECARD PBF are unable to agree upon modifications, then either CLIENT or BENECARD PBF may terminate this Agreement as set out in Article IV hereof.