Common use of EFFECTIVITY AND DURATION OF THIS AGREEMENT Clause in Contracts

EFFECTIVITY AND DURATION OF THIS AGREEMENT. 1. This Agreement shall take effect on the date stated in the Schedule B - ASO Fund and Membership Information upon signing by the parties thereof and upon receipt by MediCard of the full Network Access Fee and Revolving Fund, and will be in force and effect for a period of one (1) year. 2. This Agreement terminates upon expiration of the one-year period unless the same is renewed under such terms as may be agreed upon by both parties. This AGREEMENT may be renewed upon filing the application for renewal by the COMPANY and/or Principal Member before the date of expiration of the subsisting AGREEMENT or upon signing a new AGREEMENT, and upon payment of the required revolving fund and network access fee that may be required by MediCard based on the current rates. Otherwise, the COMPANY and/or Principal Member would have to re-apply for membership in the same manner as new applicants. It is expressly agreed that all re- applications for membership in accordance with this AGREEMENT shall be subject to re- evaluation and approval by MediCard. 3. Any aggrieved party may pre-terminate this Agreement for cause (i.e. any act of bad faith, breach of agreement, etc.), save in cases cited below, upon service of thirty (30) days notice to the other. MediCard shall have the right to immediately terminate this Agreement in the event that: (a) any material misrepresentation; or warranty made by the COMPANY and/or Member is false or untrue; or if the COMPANY and/or Member commits any act with the intend to defraud MediCard; or (b) the COMPANY and/or Principal Member’s non-payment of ASO Fund in Schedule B and other obligations subject to agreed payment terms.