Governmental Payor Program definition
Examples of Governmental Payor Program in a sentence
By the date required for cure by the Governmental Authority, Borrower will correct or will cause to be corrected any deficiency the curing of which is a condition of continued eligibility for Governmental Payor Program payment or reimbursement, including full participation in the Governmental Payor Program for existing residents and for new residents to be admitted with Governmental Payor Program coverage.
Borrower will not and will not permit any circumstance to occur which would (i) cause Borrower, a Facility Operator or the Facility to be disqualified for participation in any Governmental Payor Program or (ii) cause the non-renewal or termination of Borrower, a Facility Operator or the Facility’s participation in any such program, as applicable.
For purposes of determining whether the foregoing percentage has been exceeded, Lender will not include any then-current resident who was originally admitted to the Facility as a private pay resident, and who had at the time of admission neither been a participant in, nor been eligible for, any Governmental Payor Program, but became eligible for, and a participant in, a Governmental Payor Program subsequent to such resident’s admission to the Facility.
There is no threatened or pending revocation, suspension, termination, probation, restriction, limitation or nonrenewal affecting Borrower or Facility Operator, of any participation or provider agreement with any Governmental Payor Program or any private commercial insurance managed care or employee assistance program to which Borrower or Facility Operator is subject.
All Governmental Payor Program and private insurance cost reports and financial reports submitted by Borrower or Facility Operator are and will be materially accurate and complete and have not been and will not be misleading in any material respects.
All Governmental Payor Program and private insurance cost reports and financial reports submitted by Borrower or Facility Operator or Property Manager are and will be materially accurate and complete and have not been and will not be misleading in any in all material respects.
No circumstance exists or event has occurred which could reasonably be expected to result in a material violation of any Health Care Law or any requirement of any Third Party Payor Program or Governmental Payor Program in which a Loan Party or a Subsidiary of any Loan Party participates.
There is no investigation, audit, claim review, or other action pending, or to the knowledge of any Loan Party, threatened, which could result in a suspension, revocation, termination, restriction, limitation, modification or non-renewal of any Third Party Payor Authorization or result in any Loan Party’s or any of their Subsidiaries’ exclusion from any Third Party Payor Program or Governmental Payor Program in which a Loan Party or a Subsidiary of any Loan Party participates.
None of the Credit Parties or their Subsidiaries or their Affiliates, nor any officer, director, managing employee or, to the Knowledge of the applicable Credit Party or Subsidiary, agent (as those terms are defined in 42 C.F.R. § 1001.1001) thereof, is a party to, or bound by, any order, individual integrity agreement, or corporate integrity agreement with any Governmental Authority concerning compliance with any laws, rules, or regulations, issued under or in connection with a Governmental Payor Program.
If, as of the date hereof, less than 20% of the total number of beds at the Facility are allocated to residents who participate in a Governmental Payor Program, no more than 25% of the total number of beds may be allocated to residents who participate in a Governmental Payor Program during the term of the Loan.