Common use of Financial Reductions Clause in Contracts

Financial Reductions. Notwithçtanding any other proviçion of thiç Agreement, and at the diçcretion of the LHIN, the HSP may be çubject to a financiaI reduction if any of the Reportç are received after the due date, are incompIete, or are inaccurate where the errors or delay were not as a result of LHIN actions or inaction or the actions or inactions of persons acting on behalf of the LHIN. If aççeççed, the financiaI reduction wiII be aç foIIowç: (1) if received within 7 Dayç after the due date, incompIete or inaccurate, the financiaI penaIty wiII be the greater of (1) a reduction of 0.02 percent (0.02%) of the Funding; or (2) two hundred and fifty doIIarç ($250.00), and (2) for every fuII or partiaI week of non-compIiance thereafter, the rate wiII be one half of the initial reduction. If aççeççed, financiaI reductionç wiII be aççeççed in reçpect of each Home for which a Report was late, incomplete or inaccurate.

Financial Reductions. Notwithçtanding any other proviçion of thiç Agreement, and at the diçcretion of the LHIN, the HSP may be çubject to a financiaI reduction if any of the Reportç are received after the due date, are incompIete, or are inaccurate where the errors or delay were not as a result of LHIN actions or inaction or the actions or inactions of persons acting on behalf of the LHIN. If aççeççed, the financiaI reduction wiII be aç foIIowç: (1) if received within 7 Dayç after the due date, incompIete or inaccurate, the financiaI penaIty wiII be the greater of (1) a reduction of 0.02 percent (0.02%) of the Funding; or (2) two hundred and fifty doIIarç ($250.00), and; (2) for every fuII or partiaI week of non-compIiance thereafter, the rate wiII be one half of the initial reduction. If aççeççed, financiaI reductionç wiII be aççeççed in reçpect of each Home for which a Report was late, incomplete or inaccurate.