MODIFICATION FOR PROSPECTIVE LEGAL EVENTS Sample Clauses

MODIFICATION FOR PROSPECTIVE LEGAL EVENTS. If, in the good faith opinion of either party, as supported by the written opinion of counsel to such party, any Federal or state laws or regulations now existing or hereafter promulgated or enacted, including specifically without limitation Medicare, are interpreted by judicial decision, a regulatory agency or legal counsel in any manner as to indicate that the structure of this Agreement, or any portion thereof, may be in violation of such laws or regulations, such party may require the parties hereto to use their respective best efforts to amend this Agreement, or such portions hereof, to the extent necessary to avoid further violation. To the maximum extent possible, any such amendment shall preserve the underlying economic and financial risks, rewards and other arrangements set forth herein. A party requesting such an amendment shall give written notice thereof to the other party which shall set out in sufficient detail the basis for the amendment request and specifically identify the specific provisions of this Agreement for which renegotiation is sought. Within thirty (30) days of its receipt of the requesting party's notice, the other party shall give notice to the requesting party of any additional provisions of this Agreement as to which the other party requests renegotiation and the reasons therefor. No provisions of this Agreement other than those specifically designated by the parties for renegotiation shall be affected by the renegotiations. Should the parties be unable to agree upon mutually acceptable revisions to this Agreement within ninety (90) days after receipt by the other party of the initial request for renegotiation, then the matters that remain unresolved through renegotiation pursuant to this SECTION 7.a shall be submitted to binding arbitration pursuant to the provisions of SECTION 7.c hereof. Each of the foregoing time periods shall be shortened if and to the extent necessary to avoid a violation of applicable law in a timely manner.
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Related to MODIFICATION FOR PROSPECTIVE LEGAL EVENTS

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  • Modification, etc No modification, amendment or waiver of any provision of this Article, nor the consent to any departure by a Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on a Guarantor in any case shall entitle such Guarantor or any other guarantor to any other or further notice or demand in the same, similar or other circumstances.

  • Compensation for Providing Information The Party requesting Information agrees to reimburse the other Party for the reasonable out-of-pocket costs, if any, of creating, gathering and copying such Information, to the extent that such costs are incurred for the benefit of the requesting Party.

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  • Waiver, Modification, Etc No provision or term of this Amendment may be modified, altered, waived, discharged or terminated orally, but only by an instrument in writing executed by the party against whom such modification, alteration, waiver, discharge or termination is sought to be enforced.

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