Termination by the Practice. The Practice may immediately terminate this Professional Business Management Agreement at its discretion, upon written notice pursuant to Section 8.3, as follows:
(i) If Professional Business Manager becomes insolvent by reason of its inability to pay its debts as they mature; is adjudicated bankrupt or insolvent; files a petition in bankruptcy, reorganization or similar proceeding under the bankruptcy laws of the United States or shall have such a petition filed against it which is not discharged within thirty (30) days; has a receiver or other custodian, permanent or temporary, appointed for its business, assets or property; makes a general assignment for the benefit of creditors; has its bank accounts, property or accounts attached; has execution levied against its business or property; or voluntarily dissolves or liquidates or has a petition filed for corporate dissolution and such petition is not dismissed with thirty (30) days;
(ii) If the Professional Business Manager fails to comply with any material provision of this Professional Business Management Agreement and does not correct such failure within ninety (90) days after written notice of such failure to comply is delivered by the Practice specifying the nature of the breach in reasonable detail; or
(iii) Professional Business Manager commits any act of fraud, misappropriation or embezzlement, or any other felony and as a result the Professional Business Manager is unable to substantially perform under the terms of this Professional Business Management Agreement.
Termination by the Practice. Subject to clause 9.3, the Practice may terminate the employment by giving you notice, or payment in lieu of notice, in accordance with the following table:- Not more than 1 year 1 week More than 1 year, but not more than 3 years 2 weeks More than 3 years but not more than 5 years 3 weeks More than 5 years 4 weeks An additional weeks’ notice is to be added if the employee is over 45 and has been employed for a continuous period of not less than 2 years.
Termination by the Practice. The Practice may immediately terminate this Agreement at its discretion, upon written notice pursuant to Section 8.3, as follows:
i) If Business Manager becomes insolvent by reason of its inability to pay its debts as they mature; is adjudicated bankrupt or insolvent; files a petition in bankruptcy, reorganization or similar proceeding under the bankruptcy laws of the United States or shall have such a petition filed against it which is not discharged within thirty (30) days; has a receiver or other custodian, permanent or temporary, appointed for its business, assets or property; makes a general assignment for the benefit of creditors; has its bank accounts, property or accounts attached; has execution levied against its business or property; or voluntarily dissolves or liquidates or has a petition filed for corporate dissolution and such petition is not dismissed with thirty (30) days;
ii) If the Business Manager fails to comply with any material provision of this Agreement, or any other agreement with the Practice, and does not correct such failure within sixty (60) days after written notice of such failure to comply is delivered by the Practice specifying the nature of the breach in reasonable detail.
Termination by the Practice. As a casual, you or the Practice may terminate the employment by giving one hour’s notice, or payment in lieu of notice, subject to sub-clause (2) below.
Termination by the Practice. Upon written notice to the Company, the Practice may terminate this Agreement and have no further liability or obligation hereunder (except as expressly provided herein) upon the occurrence of any of the following events (each an “Event of Company Default”):
(a) The Company shall apply for or consent to the appointment of a receiver, trustee or liquidator of it or all or a substantial part of its assets, file a voluntary petition in bankruptcy, be unable to pay its debts as they come due, make a general assignment for creditors or take advantage of any insolvency Law, have liabilities that exceed its assets, or be “insolvent” as defined under the federal Bankruptcy Code or under any insolvency law in any state in which the Company does business, or any order, judgment or decree shall be entered by any court of competent jurisdiction, on the application of a creditor, adjudicating it as bankrupt or insolvent or approving a petition seeking its reorganization or appointment of a receiver, trustee, or liquidator of it or all or a substantial part of its assets.
(b) The Company fails to make any payment within ten (10) days of when such payment is due to the Practice hereunder and such failure continues for more than ten (10) days after the Company’s receipt of a written notice specifying such breach.
(c) Except as provided in Section 6.3(b), the Company ceases to perform its duties and responsibilities hereunder or breaches any material term or condition of this Agreement (including, without limitation, Section 2.13) and, in the reasonable opinion of the Practice, such cessation or breach remains uncured for a period of sixty (60) days after the Company’s receipt of a written notice specifying such breach.
(d) The Company is involuntarily suspended, excluded or terminated from participation in Medicare or Medicaid.
(e) The Company withdraws from participation in Medicare or Medicaid as a result of regulatory investigation or the Company is excluded from entering into healthcare provider agreements with a material portion of the managed care or healthcare insurance industry.
Termination by the Practice. As provided for under 45 C.F.R. § 164.504(e)(2)(iii), the Practice may immediately terminate this Agreement, all relevant Services Agreement(s) and any related agreements if the Practice makes the determination that Contractor has breached a material term of this Agreement. Alternatively, and in the sole discretion of Practice, Practice may choose to provide Contractor with written notice of the existence of the breach and provide Contractor with thirty (30) calendar days to cure said breach upon mutually agreeable terms. In the event that mutually agreeable terms cannot be reached within this thirty (30) day period, Contractor shall cure said breach to the satisfaction of the Practice within an additional fifteen (15) days. Failure by Contractor to cure said breach or violation in the manner set forth above shall be grounds for immediate termination of the Services Agreement by the Practice. If termination is not feasible, Practice has the right to report the problem to the Secretary of the U.S. Department of Health and Human Services.
Termination by the Practice. The first sentence of Section --------------------------- ------- 10.3, Section 10.3(b) and Section 10.3(d) of the Service Agreement are hereby ---- --------------- --------------- deleted and replaced in their entirety with the following:
Termination by the Practice. The Practice may terminate this --------------------------- Agreement as follows:
(a) In the event of the filing of a petition in voluntary bankruptcy or an assignment for the benefit of creditors by MidSouth, or upon other action taken or suffered, voluntarily or involuntarily, under any federal or state Applicable Law for the benefit of creditors by MidSouth, except for the filing of a petition in bankruptcy by or against MidSouth which is dismissed within ninety (90) days thereafter, the Practice may give notice of the immediate termination of this Agreement; or
(b) In the event MidSouth shall Default in the performance of any duty or obligation imposed upon it by this Agreement and the Default continues for a period of ninety (90) days after written notice thereof has been given to MidSouth by the Practice (or in the event the Default cannot be cured within the period and MidSouth is diligently pursuing a cure, the period shall be extended so long as MidSouth diligently and in good faith continues to cure the Default until completion), or if MidSouth shall fail to remit the payments due as provided in this Agreement and the failure to remit continues for a period of two (2) business days after written notice thereof, the Practice may terminate this Agreement; or
(c) In the event that MidSouth shall intentionally or in bad faith violate Applicable Law resulting in a direct, continuing material adverse effect on the operations, earnings and cash flow of the Practice; or
(d) In the event that MidSouth has not successfully completed an initial public offering of MidSouth common stock or MidSouth has not merged with a publicly traded entity with an initial market price of stock or if the market price of the merged stock is not greater than five (5) dollars per share, within thirty-six (36) months from the date of this Agreement, the Physician Shareholder may, at that time, terminate this Agreement and be released from the restrictive covenants contained in Article 7.
Termination by the Practice. Subject to compliance with the --------------------------- provisions set forth in Section 10.5, a Practice may terminate this Agreement ------------ with respect to itself upon the occurrence of any of the following events without any further action on the part of such Practice: (b) If Physician Health Corporation ("PHC") shall not have consummated the Public Offering as of the end of the seventy-second (72nd) month following the Effective Date; provided that the Practice notifies MidSouth of the decision of the Practice to terminate this Agreement pursuant to this Section 10.3(b) within --------------- 90 days following the end of the seventy-second (72nd) month following the Effective Date.
Termination by the Practice. The Practice may terminate this Agreement as follows:
(a) In the event of the filing of a petition in voluntary bankruptcy or an assignment for the benefit of creditors by PHYN, or upon the receivership or voluntary or involuntary dissolution of PHYN without reinstatement within thirty (30) days, or other action taken or suffered, voluntarily or involuntarily, under any federal or state law for the benefit of debtors by PHYN, except for the filing of a petition in involuntary bankruptcy against PHYN which is dismissed within sixty (60) days thereafter, the Practice may give notice of the immediate termination of this Agreement.
(b) In the event PHYN shall materially default in the performance of any duty or obligation to make a payment to the Practice imposed upon PHYN by Section 8.3 of this Agreement, and such default shall continue for a period of ten (10) days after written notice thereof has been given to PHYN by the Practice, the Practice may terminate this Agreement. In the event PHYN shall materially default in the performance of any duty or obligation (other than its obligations under Section 8.3) imposed upon it by this Agreement, and such default shall continue for a period of ninety (90) days after written notice thereof has been given to PHYN by the Practice, the Practice may terminate this Agreement.
