Common use of Because of Inability to Perform Obligations Clause in Contracts

Because of Inability to Perform Obligations. This Agreement may be immediately suspended or terminated by written notice to the other party if either party is unable to perform its obligations by reason of: (1) complete or partial destruction of facilities; (2) a material reduction in the number of Participating Providers; (3) lockout; (4) strike; (5) riot; (6) war; (7) pandemic, (8) act of God; or (8) by any ordinance, law, order or decree of any governmental authority. Neither party will be required to perform its duties nor be liable for any damages arising from the suspension or termination of this Policy pursuant to this paragraph. The Insurance Company shall refund any unearned Aggregate Premium to the Group for the period following the date of such suspension or termination of this Policy. The Insurance Company, at its option may agree to allow the Group to retroactively terminate the Policy. Should the Insurance Company agree to a retroactive termination date, the Group is still obligated to reimburse the Insurance Company for any claims or charges which the Insurance Company has to pay, as required by: (1) state or federal law; (2) pharmacy benefit management agreement; or (3) provider agreement, plus a reasonable administrative fee.

Because of Inability to Perform Obligations. This Agreement may be immediately suspended or terminated by written notice to the other party if either party is unable to perform its obligations by reason of: (1) complete or partial destruction of facilities; (2) a material reduction in the number of Participating Providers; (3) lockout; (4) strike; (5) riot; (6) war; (7) pandemic, (8) act pandemic,(8)act of God; or (8) by any ordinance, law, order or decree of any governmental authority. Neither party will be required to perform its duties nor be liable for any damages arising from the suspension or termination of this Policy pursuant to this paragraph. The Insurance Company shall refund any unearned Aggregate Premium to the Group for the period following the date of such suspension or termination of this Policy. The Insurance Company, at its option may agree to allow the Group to retroactively terminate the Policy. Should the Insurance Company agree to a retroactive termination date, the Group is still obligated to reimburse the Insurance Company for any claims or charges which the Insurance Company has to pay, as required by: (1) state or federal law; (2) pharmacy benefit management agreement; or (3) provider agreement, plus a reasonable administrative fee.