Common use of Effect of Change in Rates Clause in Contracts

Effect of Change in Rates. Parent and ElderCare shall use their reasonable best efforts to cause each of the insurance companies, HMOs and third-party administrators providing services and benefits under the Parent Health and Welfare Plans and the ElderCare Health and Welfare Plans to maintain the premium and/or administrative rates based on the aggregate number of participants in both the Parent Health and Welfare Plans and the ElderCare Health and Welfare Plans through the Transition Date. To the extent they are not successful in such efforts, Parent and ElderCare shall each bear the revised premium or administrative rates attributable to the individuals covered by their respective Health and Welfare Plans.