Common use of Legislative, Regulatory or Administrative Change Clause in Contracts

Legislative, Regulatory or Administrative Change. If there shall be a change in the Medicare or Medicaid laws, regulations or general instructions, the adoption of new legislation, or a change in any third-party reimbursement system, any of which materially affects the manner in which either party may perform or be compensated for its services under this Agreement, the parties shall immediately propose a new service arrangement or basis for compensation for the services furnished pursuant to this Agreement. If such notice of new service arrangement or basis for compensation is given in writing to Practice Manager, and if Practice Manager on behalf of Medical Practice is unable, within ninety (90) days thereafter, to arrive at a new service arrangement or basis for compensation, either party may terminate this Agreement by providing the other party with written notice at least thirty (30) days prior to the specified termination date. Medical Practice shall continue its liability to Practice Manager for all expenses incurred by Practice Manager on behalf of Medical Practice including all Medical Practice’s liabilities to Practice Manager who will continue to hold the Power of Attorney to direct the sale and transfer of stock so as to pay all Practice Manager’s debts and obligations.