Common use of Legislative Limitations Clause in Contracts

Legislative Limitations. Notwithstanding any other provisions of this Agreement, if the governmental agencies (or their representatives) that administer Medicare or Medicaid, or any other payor, or any other federal, state or local government or agency, passes, issues or promulgates any law, rule, regulation, standard or interpretation at any time while this Agreement is in effect which prohibits, restricts, limits or in any way materially changes the method or amounts of reimbursement or payment for services rendered under this Agreement, or give the other party notice of intent to amend this Agreement to the satisfaction of the noticing party, to reflect the prohibition, restriction, limitation or change, provided, however, that no such amendment shall alter the basic economic status of the parties pursuant to this Agreement. If this Agreement is not so amended in writing within sixty (60) days after such notice is given, the parties agree to submit the issues of such an amendment to arbitration in accordance with subparagraph 15(k); provided, however, that if at the election of either party, a formal appeal is filed with the relevant government agency, or a suit is filed in a court of competent jurisdiction, so as to stay the implementation of any such law, rule, regulation, standard or interpretation, during the period of such stay, the right to amend as set forth above shall also be stayed.

Legislative Limitations. Notwithstanding any other provisions of this Agreement, if the governmental agencies (or their representatives) that administer Medicare or Medicaid, or any other payor, or any other federal, state or local government or agency, passes, issues or promulgates any law, rule, regulation, standard or interpretation at any time while this Agreement is in effect which prohibits, restricts, limits or in any way materially changes the method or amounts of reimbursement or payment for services rendered under this Agreement, or either party may give the other party notice of intent to amend this Agreement to the satisfaction of the noticing party, to reflect the prohibition, restriction, limitation or change, provided, however, that no such amendment shall alter the basic economic status of the parties pursuant to this Agreement. If this Agreement is not so amended in writing within sixty (60) days after such notice is given, the parties agree to submit the issues issue of such an amendment to arbitration in accordance with subparagraph 15(k); provided, however, that if at the election of either party, a formal appeal is filed with the relevant government governmental agency, or a suit is filed in a court of competent jurisdiction, so as to stay the implementation of any such law, rule, regulation, standard or interpretation, during the period of such stay, the right to amend as set forth above shall also be stayed.