Contract Terms and Termination. The Partnership provides lithotripsy services to 11 Contract Hospitals pursuant to 11 separate Hospital Contracts. Many, but not all, of the Hospital Contracts grant the Partnership the exclusive right to provide lithotripsy services at the particular Contract Hospital. Most of the Hospital Contracts provide for automatic renewal on a year-to-year basis. All of the Hospital Contracts with automatic renewal provisions are terminable without cause upon 60 days or less prior written notice by either party prior to any renewal date. One of the Hospital Contracts has no automatic renewal provision and will terminate within the next six months unless renegotiated. It is expected that most new lithotripsy service contracts, if any, would have one-year terms and be automatically renewed unless either party elects to cancel prior to the end of the term. In addition, many of the existing contracts have, and any new contracts are expected to have, provisions permitting termination in the event certain laws or regulations are enacted or applied to the contracting parties' business arrangements in a manner deemed materially detrimental to either party. See "Government Regulation" above. The General Partner believes it has a good relationship with the Contract Hospitals and does not anticipate significant terminations. There is no assurance, however, that terminations will either not occur or that the resulting impact to the Partnership would not have a material adverse effect on Partnership operations. In addition, competing vendors may attempt to cause certain Contract Hospitals to contract with them instead of the Partnership. The loss of Contract Hospitals to competition will adversely affect Partnership revenues and such effect could be material. Thus, there is no assurance that Partnership operations as conducted on the date of this Memorandum will continue as herein described or contemplated, and the cancellation of a significant number of service contracts or the Partnership's inability to secure new ones could have a material negative impact on the financial condition and results of the Partnership. See "Business Activities - Hospital Contracts"and "Risk Factors - Competition." Loss on Dissolution and Termination. Upon the dissolution and termination of the Partnership, the proceeds realized from the liquidation of its assets, if any, will be distributed to its partners only after satisfaction of the claims of all creditors. Accordingly, the ability of a Limite...
Contract Terms and Termination. The Partnership is attempting to negotiate similar agreements to the existing Hospital Contracts with additional treatment centers in the Service Area. There can be no assurance that the Partnership will be able to enter into any new agreements. Reimbursement Agreements. Prime and the General Partner have negotiated third-party reimbursement agreements with certain national and local commercial third-party payors. The national agreements are negotiated by Prime and the General Partner apply to all the lithotripsy partnerships which are Affiliates of the General Partner, including the Partnership, to the extent such entities directly bill and collect from patients or their third-party payors. Some of the national and local payors have agreed to pay a fixed price for lithotripsy services. For the most part, the agreements may be terminated by either party on 60 to 120 days' notice. The national and local reimbursement agreements that have been negotiated or renegotiated in the past two to four years almost entirely provide for lower reimbursement rates for lithotripsy services than the older agreements. Operation of the Lithotripsy Systems It is anticipated that the Partnership will continue to provide services under the Hospital Contracts and similar arrangements. See "Business Activities - Hospital Contracts" and "Risk Factors - Operating Risks - Contract Terms and Termination." Qualified physicians who make appropriate arrangements with Contract Hospitals receiving lithotripsy services pursuant to the Hospital Contracts and other lithotripsy service agreements may treat their own patients using the Lithotripsy Systems after they have received any necessary training required by the rules of such Contract Hospital. The Partnership may also make arrangements to make the Lithotripsy Systems available to qualified physicians (including, but not limited to, qualified physician Limited Partners) desiring to treat their own patients after they have received any necessary training. The General Partner will endeavor to the best of its abilities to require that physicians using the General Partner's Lithotripsy Systems comply with the Partnership's quality assurance and outcome analysis programs in order to maintain the highest quality of patient care. In addition, the Partnership reserves the right to request that (i) physicians (or members of their practice groups) treat only their own patients with the Lithotripsy Systems; and (ii) physician Limited Partners disc...
Contract Terms and Termination. The Partnership provides lithotripsy services to seven Contract Hospitals in the Memphis area pursuant to four separate Hospital Contracts. In addition, the Partnership has entered in an additional Hospital Contract with Baptist Memorial Hospital - DeSoto in Southaven, Mississippi pursuant to which the Partnership expects to commence service in February 2000. All but one of the Hospital Contracts grant the Partnership the exclusive right to provide lithotripsy services at the particular Contract Hospital. Each of the Hospital Contracts provide for automatic renewal on a year-to-year basis. All of the Hospital Contracts with automatic renewal provisions are terminable without cause upon 30 days or, in some cases 60 or 90 days prior written notice by either party prior to any renewal date. The Baptist Memorial Hospital - DeSoto contract has a term of three years, but may be terminated without cause by either party on 180 days notice. It is expected that most new lithotripsy service contracts, if any, would have one-year terms and be automatically renewed unless either party elects to cancel prior to the end of the term. In addition, many of the existing contracts have, and any new contracts are expected to have, provisions permitting termination in the event certain laws or regulations are enacted or applied to the contracting parties' business arrangements in a manner deemed materially detrimental to either party. See "Government Regulation" above. Lxxxx believes it has a good relationship with the Contract Hospitals and does not anticipate significant Hospital Contract terminations. There is no assurance, however, that terminations will either not occur or that the resulting impact to the Partnership would not have a material adverse effect on Partnership operations. Litho anticipates that some Contract Hospitals may attempt to negotiate rate reductions as a condition to renewal. In addition, competing vendors may attempt to cause certain Contract Hospitals to contract with them instead of the Partnership. The loss of Contract Hospitals to competition will adversely affect Partnership revenues and such effect could be material. Thus, there is no assurance that Partnership operations as conducted on the date of this Memorandum will continue as herein described or contemplated, and the cancellation of a significant number of service contracts or the Partnership's inability to secure new ones could have a material negative impact on the financial condition an...
Contract Terms and Termination a) The minimum Contract Terms are specified in section 4 for each service in particular.
Contract Terms and Termination. The Partnership provides lithotripsy services to four Contract Hospitals pursuant to four separate Hospital Contracts. The Contract Hospitals generally pay the Partnership a fee for each lithotripsy procedure performed at the health care facility; however, the Partnership does directly bill and collect for services from some patients or their third-party payors. Three of the Hospital Contracts grant the Partnership the exclusive right to provide lithotripsy services at the particular Contract Hospitals. All of the Hospital Contracts provide for automatic renewal on a year-to-year basis. Two of the Hospital Contracts are terminable without cause at any time upon 60 days written notice by either party, and two Hospital Contracts are terminable without cause at the end of the initial term or any renewal period upon 60 days prior written notice. The Partnership also leases the Existing Lithotripsy System to an Affiliate of the General Partner for the purpose of providing lithotripsy services at a hospital located in Louisville, Kentucky. See "
Contract Terms and Termination. The Partnership provides lithotripsy services to 7 Contract Hospitals pursuant to 7 separate Hospital Contracts. A majority of the Hospital Contracts grant the Partnership the exclusive right to provide lithotripsy services at the particular Contract Hospital. Two of the Hospital Contracts provide for automatic renewal on a year-to-year basis. These Hospital Contracts are terminable without cause upon 180 days prior written notice by either party prior to any renewal date. Three of the Hospital Contracts have no automatic renewal provision and will terminate on October 31, 2000, November 30, 2000 or December 31, 2000, respectively, unless the parties mutually agree to extend the terms. One Hospital Contract's term expires on June 30, 2001, and is terminable at any time without cause upon 30 days prior written notice by the Contract Hospital. In addition, the Partnership is negotiating a contract extension with Catholic Health Care West which will cover services at one more Contract Hospital. The Partnership is currently providing services at such Contract Hospital on a month-to-month basis. It is expected that most new lithotripsy service contracts, if any, would have one-year terms and be automatically renewed unless either party elects to cancel prior to the end of the term. The General Partner believes it has a good relationship with the Contract Hospitals and does not anticipate significant terminations. There is no assurance, however, that terminations will either not occur or that the resulting impact to the Partnership would not have a material adverse effect on Partnership operations. In addition, competing vendors may attempt to cause certain Contract Hospitals to contract with them instead of the Partnership. The loss of Contract Hospitals to competition will adversely affect Partnership revenues and such effect could be material. Thus, there is no assurance that Partnership operations as conducted on the date of this Memorandum will continue as herein described or contemplated, and the cancellation of a significant number of service contracts or the Partnership's inability to secure new ones could have a material negative impact on the financial condition and results of the Partnership. See "Business Activities - Hospital Contracts"and "Risk Factors - Competition." Loss on Dissolution and Termination. Upon the dissolution and termination of the Partnership, the proceeds realized from the liquidation of its assets, if any, will be distributed to ...
Contract Terms and Termination. This one-year contract is effective from July 1, 2017 through June 30, 2018. The transfer or assignment of this contract is prohibited. Contracts may be terminated at any time, on 30-day written notice, upon the mutual agreement of all parties, or in a shorter period of time, if the terms of the contract are violated in any way.
