Closure procedure Clause Samples

Closure procedure. Should this C2 Agreement be terminated or suspended for any reason whatsoever, or should the Pharmacy effect a transfer of ownership to a third party without debtors and/or creditors, in any manner whatsoever, or should the Pharmacy be sequestrated or liquidated, whether provisionally or finally, MediKredit shall implement the following procedure as from the effective date of such event, in order to finally reconcile and close the Pharmacy’s account: 14.6.1 MediKredit shall retain a reasonable amount of all Valid Claims due to the Pharmacy as payment for Claims that may be rejected by Medical Schemes after the effective date of the stated event. 14.6.2 MediKredit shall retain such amount for a reasonable period and thereafter pay to the Pharmacy the balance of all Valid Claims due to the Pharmacy less rejections.