Common use of Termination by Practice Clause in Contracts

Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) misappropriates Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the error, or (B) fails to properly account Practice's funds and fails to correct such accounting error within thirty (30) days of receipt of notice from Practice describing with particularity the error.

Appears in 2 contracts

Samples: Management Services Agreement (Novamed Eyecare Inc), Management Services Agreement (Novamed Eyecare Inc)

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Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) intentionally and in bad faith misappropriates Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the errorfunds, or (B) fails to properly account Practice's funds and fails to correct such accounting error within thirty (30) days of receipt of notice from Practice describing with particularity the error.

Appears in 2 contracts

Samples: Management Services Agreement (Novamed Eyecare Inc), Management Services Agreement (Novamed Eyecare Inc)

Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof a court of competent jurisdiction makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) intentionally and in bad faith misappropriates Practice's funds, or (B) misapplies Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the error, or (B) fails to properly account Practice's funds and fails to correct such accounting error misapplication within thirty (30) days of receipt of notice from Practice describing with particularity the errormisapplication.

Appears in 1 contract

Samples: Management Services Agreement (Novamed Eyecare Inc)

Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) intentionally and in bad faith misappropriates Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the errorfunds, or (B) fails to properly account Practice's funds and fails to correct such accounting error within thirty (30) days of receipt of notice from Practice describing with particularity the error.

Appears in 1 contract

Samples: Management Services Agreement (Novamed Eyecare Inc)

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Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) misappropriates Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the error, or (B) fails to properly account Practice's funds and fails to correct such accounting error within thirty (30) days of receipt of notice from Practice describing with particularity the error.

Appears in 1 contract

Samples: Management Services Agreement (Novamed Eyecare Inc)

Termination by Practice. Practice may terminate this Management ----------------------- Services Agreement upon any of the following occurrences which shall be deemed to be "for cause": (i) In the event that an arbitrator pursuant to Section 8.6 hereof a court of competent jurisdiction makes a final determination that Business Manager has materially breached a fiduciary duty owed to Practice, Practice may terminate this Management Services Agreement upon ten (10) days' notice to Business Manager; or (ii) With ten (10) days' written notice to Business Manager, in the event Business Manager (A) intentionally and in bad faith misappropriates Practice's funds, or (B) misapplies Practice's funds and fails to correct such misappropriation within five (5) business days of receipt of notice from Practice describing with particularity the error, or (B) fails to properly account Practice's funds and fails to correct such accounting error misapplication within thirty (30) days of receipt of notice from Practice describing with particularity the errormisapplication.

Appears in 1 contract

Samples: Management Services Agreement (Novamed Eyecare Inc)

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