Common use of RENEGOTIATION PROCEDURE Clause in Contracts

RENEGOTIATION PROCEDURE. If SECTION 3.4 provides for renegotiation of this Agreement pursuant to this SECTION 14.3, the parties shall engage in good faith negotiations with the intent and goal of reaching a consensus which will preserve each party's anticipated benefit and respective rights and obligations under this Agreement and avoid default of this Agreement. Failure to agree upon renegotiated amounts pursuant to SECTION 3.4 within 75 days after request for renegotiation shall be submitted to arbitration pursuant to SECTION 14. 1. When an event occurs which allows for renegotiation of the amounts to be paid to PBHC under this Agreement, the HMO Subsidiaries shall pay the amounts specified in SECTION 9.1 until final resolution of the dispute. Any adjustments to the amounts paid to PBHC that are subsequently agreed to by the parties shall be retroactive to the effective date of the event which allowed for such renegotiation.

RENEGOTIATION PROCEDURE. If SECTION 3.4 provides for renegotiation of this Agreement pursuant to this SECTION 14.3, the parties shall engage in good faith negotiations with the intent and goal of reaching a consensus which will preserve each party's anticipated benefit and respective rights and obligations under this Agreement and avoid default of this Agreement. Failure to agree upon renegotiated amounts pursuant to SECTION 3.4 within 75 days after request for renegotiation shall be submitted to arbitration pursuant to SECTION 14. 1. When an event occurs which allows for renegotiation of the amounts to be paid to PBHC APS under this Agreement, the HMO Subsidiaries shall pay the amounts specified in SECTION 9.1 until final resolution of the dispute. Any adjustments to the amounts paid to PBHC APS that are subsequently agreed to by the parties shall be retroactive to the effective date of the event which allowed for such renegotiation.