Cost Settlement for APM Years Sample Clauses

Cost Settlement for APM Years. 1 and 2 only The State shall reimburse Contractor’s Reasonable Actual Costs, net of all other revenues, for providing care capacity for 26 Level 1 Beds, in accordance with the requirements of Act 79 (2012). The State and Contractor agree to settle on an annual basis the difference between all revenues and Reasonable Actual Costs as demonstrated by Contractor through audited financial information. If audited financial information is not available for the Level 1 Cost Settlement within 90 days after the end of each APM Year due to timing of the audit and cost report submission, preliminary unaudited financial information may be submitted to State. State will use that information to initiate a Level 1 cost settlement review. Contractor shall submit audited financial information within 150 days for State to confirm or adjust the Level 1 cost settlement amount. A final review consistent with Act 79 legislation will be for the fiscal period ending December 31st of each year for which this contract is in force. If, after completion of that review, there is a difference in Reasonable Actual Costs as defined in this contract and actual costs incurred, and the State disallows expenditures, Contractor may request that the State review the disallowed expenditures in accordance with Attachment B, Section 7: Dispute Resolution. If there is a disagreement in Reasonable Actual Costs, as defined in this contract, and actual costs incurred by Contractor, Contractor and the State will work together to determine a revised reasonable actual cost definition. Upon the completion of the Year-End Reconciliation process, if there is a Medicare claim or cost report adjustment resulting in the recovery of a previous reimbursement, Contractor may reopen the reconciliation process to identify additional costs. For APM Years 3 and 4, the Parties agree that the APM Per Diem rate is a fair and reasonable prospective estimate of the reasonable actual cost of care. Therefore, Contractor will not seek additional compensation from the State for Level 1 Patient days except as authorized by Section 4.a of this Attachment B.
Sample 1
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Related to Cost Settlement for APM Years

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • NOW, THEREFORE the parties hereto agree as follows:

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

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