Medicare Accelerated Payment Covenants Clause Samples
The Medicare Accelerated Payment Covenants clause establishes the terms and conditions under which a healthcare provider may receive expedited payments from Medicare, typically in situations where there is a disruption in claims processing or cash flow. This clause outlines eligibility requirements, the process for requesting accelerated payments, and the obligations for repayment, such as timelines and interest terms. Its core practical function is to ensure that providers maintain financial stability during periods of delayed Medicare reimbursements, thereby supporting continued patient care and operational continuity.
Medicare Accelerated Payment Covenants. Each Loan Party or any of its Subsidiaries that receives one or more Medicare Accelerated Payments shall use the proceeds thereof exclusively for the uses permitted pursuant to the Applicable Laws of such Medicare program and otherwise comply in all material respects with the Applicable Laws of such Medicare program.
Medicare Accelerated Payment Covenants. Each Credit Party that received one or more Medicare Accelerated Payments shall cause each Medicare Accelerated Payment to be repaid in full to CMS within the applicable time period required by CMS after the date such Medicare Accelerated Payment was made and otherwise in accordance with the requirements of the Medicare Accelerated and Advance Payment Program.