Group Physician Stockholders definition
Examples of Group Physician Stockholders in a sentence
The Group shall be solely responsible for matters involving its corporate governance, employees and similar internal matters, including, but not limited to, preparation and contents of such reports to regulatory authorities governing the Professional Operations that the Group is required by law to provide, and distribution of salaries and professional fee income among the Group Physician Stockholders, Physician Employees and Physician Extender Employees.
In the event that all or a substantial portion of the Group Physician Stockholders and the Full-time Physician Employees breach Exhibit 6.2, then the Group shall immediately pay and be jointly and severally liable to Administrator for all payments of the Liquidated Damages that otherwise may be owed to Administrator by such persons.
In this regard, but for the covenants set forth in this Section 6, and the execution of Exhibit 6.2 by all of the Group Physician Stockholders and the Full-time Physician Employees, Administrator would not have agreed to reduce the Service Fee or to commit the additional capital and resources to the parties’ business.
It shall not be necessary for Parent or Administrator to have exhausted its remedies against the individual Group Physician Stockholders or Full-time Physician Employees in order to obtain payment from the Group pursuant to this Section 6.2(b)(ii).
In the event that all or a substantial portion of the Group Physician Stockholders and the Full-time Physician Employees breach this Paragraph 4, then the Group shall immediately pay and be jointly and severally liable to Administrator for all payments of the Liquidated Damages that otherwise may be owed to Administrator by such persons.
Notwithstanding the foregoing, the Group Physician Stockholders, the Full-time Physician Employees and the Group expressly agree that should Administrator be entitled to the Liquidated Damages set forth in Section 6.2(b) above, then neither the Group nor any Group Physician Stockholder or Full-time Physician Employee shall be entitled to use any setoff, claim, award, defense, damage or discharge in any subsequent action or proceeding to reduce the Liquidated Damages below the amount stated.
Group shall be solely responsible for matters involving its corporate governance, employees and similar internal matters, including, but not limited to, preparation and contents of such reports to regulatory authorities governing the business operations that Group is required by law to provide, and distribution of salaries and professional fee income among the Group Physician Stockholders, the Physician Employees and the Physician Extender Employees.
The Group shall be solely responsible for matters involving its corporate governance, employees and similar internal matters, including, but not limited to, preparation and contents of such reports to regulatory authorities governing the Professional Operations that the Group is required by law to provide, and distribution of salaries, benefits and professional fee income among the Group Physician Stockholders, Physician Employees and Physician Extender Employees.
But for the covenants set forth in Section 6 of the Agreement, and the execution of this Joinder by all of the Group Physician Stockholders and the Full-time Physician Employees, Administrator would not have agreed to reduce the Service Fee or to commit the additional capital and resources to the Group’s business.