Termination During Program. If Resident is terminated for any reason or no reason from Institution, as determined solely by Institution, during the MIDOCS Program, Resident and Institution will receive no advance funds for such Resident beyond that which has already been received from MIDOCS. Further, Resident expressly and voluntarily agrees to repay immediately to MIDOCS any Loan Assistance Amounts paid to Resident for any portion of loan assistance amounts representing the Practice Requirement term not completed prior to such termination. Resident understands that MIDOCS shall not accept nor be required to accept any form of partial, periodic or monthly payments to pay off the total amount due.
Termination During Program. If Resident is terminated for any reason or no reason from Institution, as determined solely by Institution, during the MIDOCS Program, Resident and Institution will receive no advance funds for such Resident beyond that which has already been received from MIDOCS. Further, Resident expressly and voluntarily agrees to repay immediately to MIDOCS any Loan Assistance Amounts paid to Resident for any portion of loan assistance amounts representing the Practice Requirement term not completed prior to such termination, and Resident shall not be liable for any termination penalty or payment per 3.2 thereof. Resident understands that MIDOCS shall not accept nor be required to accept any form of partial, periodic or monthly payments to pay off the total amount due.
Termination During Program. If Resident is terminated for any reason or no reason from Institution, as determined solely by Institution, during the Program, Resident and Institution will receive no advance funds for such Resident beyond that which has already been received from MIDOCS. Further, Resident expressly and voluntarily agrees to repay immediately to [Institution/MIDOCS] any Loan Assistance Amounts paid to Resident for any portion of the Practice Requirement term not completed prior to such termination. Resident understands that [Institution/MIDOCS] shall not accept nor be required to accept any form of partial, periodic or monthly payments to pay off the total amount due. Interest on Outstanding Balance. Any amount due under Sections 3.2 or 3.3 shall bear interest on the unpaid balance at the greater of (a) ten percent (10%) per annum or (b) the maximum rate allowed by law, calculated from the date of termination until paid in full. Deferral or Waiver. For good cause, Resident may request in writing that the Practice Requirement be deferred or waived in whole or in part. Any such request shall be granted in MIDOC’s sole discretion.
Termination During Program. If Resident is terminated for any reason or no reason from Institution, as determined solely by Institution, during the MIDOCS Program, Resident and Institution will receive no advance funds for such Resident beyond that which has already been received from MIDOCS. Further, Resident expressly and voluntarily agrees to repay immediately to MIDOCS any Loan Assistance Amounts paid to Resident for any portion of loan assistance amounts representing the Practice Requirement term not completed prior to such termination. Resident understands that MIDOCS shall not accept nor be required to accept any form of partial, periodic or monthly payments to pay off the total amount due. Interest on Outstanding Balance. Any amount due under Sections 3.2 or 3.3 shall bear interest on the unpaid balance at the greater of (a) ten percent (10%) per annum or (b) the maximum rate allowed by law, calculated from the date of termination until paid in full. Deferral or Waiver. For good cause, Resident may request in writing that the Practice Requirement be deferred or waived in whole or in part. Any such request shall be granted in MIDOCS’ sole discretion. Voluntary Undertaking. With a complete understanding of Article 3 of this Addendum, Resident specifically, freely, unequivocally and voluntarily requests that deductions be made from Resident’s final paycheck in accordance with the provisions of Article 3. Resident agrees to execute any documents required for such deductions, which shall be made in accordance with and as permitted by Michigan law.
