UPL Program definition
UPL Program means a program under which, in exchange for certain payment of fees, costs and other reimbursements from the UPL Hospital, a Borrower agrees to manage one or more Facilities, the possession and operation of which has been transferred to such UPL Hospital and, subsequent to such transfer, the accounts related to such Facility or Facilities qualify under a Medicaid “upper payment limit” program.
UPL Program shall have the meaning set forth in Section 17.6.
UPL Program means the Medicaid Upper Payment Limit (and Intergovernmental Transfer) program in place in Indiana and Texas, where a hospital holds the operating License for the Facility and Seller or Seller Parties act as sublessor and/or manager in coordination with such hospital, including any successor programs. In the event that any additional states approve similar programs in which Seller or Seller Parties participate for one or more Facilities prior to the Closing, this definition shall also include the programs in such additional states.
Examples of UPL Program in a sentence
No Loan Party shall permit any UPL Hospital to transfer any Permit (other than the transfer of Permits back to the respective Borrower upon termination of the applicable UPL Program) or pledge any Permit as collateral security for any Indebtedness, and each Loan Party shall cause each UPL Hospital to hold each Permit free from restrictions or known conflicts, which, in each case, would materially impair the use or operation of the related Facility for the uses described in Section 4.1(b).