HMO Event means any material non-compliance by Parent or any Subsidiary with any of the terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial conditions; or the assertion in writing, after the date hereof, by any HMO Regulator that it intends to take administrative action against Parent or any Subsidiary to revoke or modify in a manner adverse to Parent or any Subsidiary any license, charter or permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against Parent or any Subsidiary.

HMO Event means any material non-compliance by the Borrower or any of its Subsidiaries with any of the terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial condition; or the assertion in writing, after the date hereof, by an HMO Regulator that it intends to take administrative action against the Borrower or any of its Subsidiaries to revoke or modify any license, charter or permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against the Borrower or any of its Subsidiaries.

Examples of HMO Event in a sentence

Promptly after occurrence thereof, notice of the occurrence of any HMO Event upon any Responsible Officer of the Borrower becoming aware thereof.
Promptly after occurrence thereof, notice of the occurrence of any HMO Event upon any Authorized Officer of Borrower becoming aware thereof.
An HMO Event shall have occurred and remain unremedied on the sooner to occur of 30 days after the occurrence of such event or 5 days after the duration of any cure period imposed for the cure of such HMO Event by the HMO Regulator administering the pertinent HMO Regulations.

More Definitions of HMO Event

HMO Event means (i) any non-compliance by the Borrower or any of its HMO Subsidiaries (other than a Designated HMO Subsidiary) with any of the material terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial conditions that is materially adverse to the Borrower and its Subsidiaries taken as a whole; or (ii) the assertion in writing, after the date hereof, by any HMO Regulator that it intends to take administrative action against the Borrower or any of its HMO Subsidiaries to revoke or modify in a manner materially adverse to the Borrower and its Subsidiaries taken as a whole any material license, material charter or material permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against the Borrower or any of its HMO Subsidiaries.

HMO Event means the failure by the Borrower or any of its HMO Subsidiaries to comply in any material respect with any of the terms and provisions of any applicable HMO Regulation pertaining to the fiscal soundness, solvency or financial condition of the Borrower or any of its HMO Subsidiaries; or the assertion after the Effective Date, by an HMO Regulator that is taking or has taken administrative action against the Borrower or any of its HMO Subsidiaries to revoke or modify any Governmental Approval of, or enforce the fiscal soundness, solvency or financial provisions or requirements of such HMO Regulations against, the Borrower or any of its HMO Subsidiaries, if such failure, action, modification or enforcement is reasonably likely to have a Material Adverse Effect.

HMO Event means (a) the failure by the Borrower or any of its HMO Subsidiaries to comply in any material respect with any of the terms and provisions of any applicable HMO Regulation pertaining to the fiscal soundness, solvency or financial condition of the Borrower or any of its HMO Subsidiaries or (b) the assertion, after the Effective Date, by an HMO Regulator that is taking or has taken administrative action against the Borrower or any of its HMO Subsidiaries to revoke or modify any Governmental Approval of, or enforce the fiscal soundness, solvency or financial provisions or requirements of such HMO Regulations against, the Borrower or any of its HMO Subsidiaries, if such failure, action, modification or enforcement would reasonably be expected to have a Material Adverse Effect.

HMO Event means any material non-compliance by Borrower or any of its Subsidiaries with any of the terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial condition; or the assertion in writing, after the date hereof, by an HMO Regulator that it intends to take administrative action against Borrower or any of its Subsidiaries to revoke or modify any license, charter or permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against Borrower or any of its Subsidiaries.

HMO Event means any material non-compliance by Borrower or any of its Subsidiaries with any of the terms and provisions of any applicable HMO Regulations pertaining to its fiscal soundness, solvency or financial condition; or the assertion in writing, after the date hereof, by an HMO Regulator that it intends to take administrative action against Borrower or any of its Subsidiaries to revoke or modify any license, charter or permit of the Borrower or any of its Subsidiaries or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against Borrower or any of its Subsidiaries.

HMO Event means (i) any non-compliance by the Borrower or any of its HMO Subsidiaries with any of the material terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial conditions that is materially adverse to the Borrower and its Restricted Subsidiaries taken as a whole; or (ii) the assertion in writing, after the date hereof, by any HMO Regulator that it intends to take administrative action against the Borrower or any of its HMO Subsidiaries to revoke or modify in a manner materially adverse to the Borrower and its Restricted Subsidiaries, taken as a whole, any material license, material charter or material permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against the Borrower or any or its HMO Subsidiaries. “HMO Regulations” shall mean all laws, rules, regulations, directives and administrative orders applicable under Federal or state law to any HMO Subsidiary, including Part 422 of Chapter IV of Title 42 of the Code of Federal Regulations and Subchapter XI of Chapter 6A of Title 42 of the United Stated Code Annotated (and any regulations, orders and directives promulgated or issued pursuant thereto, including Part 417 of Chapter IV of Title 42 of the Code of Federal Regulations).

HMO Event means any material non-compliance by the Parent or any of its HMO Subsidiaries (other than a Designated HMO Subsidiary) with any of the material terms and provisions of the HMO Regulations pertaining to its fiscal soundness, solvency or financial conditions; or the assertion in writing, after the date hereof, by any HMO Regulator that it intends to take administrative action against the Parent or any of its HMO Subsidiaries to revoke or modify in a manner materially adverse to the Parent and its Subsidiaries taken as a whole any material license, material charter or material permit or to enforce the fiscal soundness, solvency or financial provisions or requirements of the HMO Regulations against the Parent or any of its HMO Subsidiaries.