Common use of Effective Date and Term of CAP Clause in Contracts

Effective Date and Term of CAP. The Effective Date for this CAP shall be calculated in accordance with paragraph II.14 of the Agreement ("Effective Date"). The period for compliance ("Compliance Term") with the obligations assumed by Advocate under this CAP shall begin on the Effective Date of this CAP and end two (2) years from the date of HHS’ final approval of all corrective action obligations set forth in section V below, unless HHS has notified Advocate under section VIII hereof of its determination that Advocate or any Advocate Entity has breached this CAP. In the event of such a notification by HHS under section VIII hereof, the Compliance Term shall not end until HHS notifies Advocate that it has determined that the breach has been cured. After the Compliance Term ends, the Contact Person shall still be obligated to submit the final Periodic Report as required by section VI and comply with the document retention requirements in section VII.

Appears in 2 contracts

Samples: Resolution Agreement, Resolution Agreement

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Effective Date and Term of CAP. The Effective Date for this CAP shall be calculated in accordance with paragraph II.14 of the Agreement ("Effective Date"). The period for compliance ("Compliance Term") with the obligations assumed by Advocate TRIPLE-S under this CAP shall begin on the Effective Date of this CAP and end two three (23) years from the date receipt of HHS’ final approval of all corrective action obligations set forth in section V belowthe policies and procedures required by paragraph V.C, unless HHS has notified Advocate TRIPLE-S under section VIII hereof of its determination that Advocate or any Advocate Entity has TRIPLE-S breached this CAP. In the event of such a notification by HHS under section VIII hereof, the Compliance Term shall not end until HHS notifies Advocate TRIPLE-S that it has determined that the breach has been cured. After the Compliance Term ends, the Contact Person TRIPLE-S shall still be obligated to submit the final Periodic Annual Report as required by section VI and comply with the document retention requirements requirement in section VII.

Appears in 2 contracts

Samples: Resolution Agreement (Triple-S Management Corp), Resolution Agreement

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Effective Date and Term of CAP. The Effective Date for this CAP shall be calculated in accordance with paragraph II.14 of the Agreement ("Effective Date"). The period for compliance ("Compliance Term") with the obligations assumed by Advocate Aetna under this CAP shall begin on the Effective Date of this CAP and end two (2) years from the date of HHS’ final approval of all corrective action obligations set forth in section V below, Effective Date unless HHS has notified Advocate Aetna under section VIII hereof of its determination that Advocate or any Advocate Entity has Aetna breached this CAP. After the Compliance Term ends, Aetna shall still be obligated to: (a) submit the final Annual Report as required by section VI; and (b) comply with the document retention requirement in section VII. In the event HHS notifies Aetna of such a notification by HHS breach under section VIII hereof, the Compliance Term shall not end until HHS notifies Advocate Aetna that it HHS has determined that Aetna failed to meet the breach has been cured. After the Compliance Term ends, the Contact Person shall still be obligated to submit the final Periodic Report as required by section VI and comply with the document retention requirements in section VII.of section

Appears in 1 contract

Samples: Resolution Agreement

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