Termination by WellQuest Clause Samples

Termination by WellQuest. WellQuest 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 Practice, or upon other action taken or suffered, voluntarily or involuntarily, under any federal or state law for the benefit of debtors by Practice, except for the filing of a petition in involuntary bankruptcy against Practice which is dismissed within thirty (30) days thereafter, WellQuest may give notice of the immediate termination of this Agreement. (b) In the event Practice shall materially default in the performance of any duty or obligation 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 Practice by WellQuest, WellQuest may terminate this Agreement. (c) At WellQuest’s option, WellQuest may terminate this Agreement immediately upon the termination or expiration of the sublease agreement between WellQuest and the Practice, the lease agreement between WellQuest and its lessor, or the Medical Director Agreement between WellQuest and Physician Shareholder. (d) At WellQuest’s option, WellQuest may terminate this Agreement immediately in the event the Physician Shareholder or the Practice are investigated, sanctioned or excluded from participation in a federal or state healthcare program, or convicted of a crime, or in the event Physician Shareholder’s license to practice medicine is revoked or restricted. (e) At WellQuest’s option, WellQuest may terminate this Agreement immediately upon the occurrence of any incident in which the Practice, the Physician Shareholder, or any of the Physician Employees has engaged in conduct which would be deemed by a reasonable person to be disruptive, intimidating, coercive, harassing or below the acceptable standard of clinical behavior; or which jeopardizes the health or safety of patients or other HealthQuest Center employees, and, if the conduct is that of an individual Physician Employee other than Physician Shareholder, if the Practice fails to immediately remove and replace such Physician Employee with another Physician Employee acceptable to WellQuest; (f) At WellQuest’s option, WellQuest may terminate this Agreement upon thirty (30) days notice to Practice in the event that, beginning on the 25th month of the Agreement’s term, the Practice’s net revenue, on a trailing three month basis, does not equal or exceed $500,000.