Unilateral amendment definition

Unilateral amendment provisions can take different forms, but typically require the payor to provide advanced written notice of the amendment, and allow the provider the option of terminating the contract if it rejects the amendment. Such provisions may also, however, be silent on the provider’s option to terminate the agreement. Rarely does the language allow the provider to reject the amendment without any consequences. The following are typical examples of these provisions: • Payor shall have the right to amend this Agreement by providing ninety (90) days advance written notice to Provider. If Provider objects to the amendment and notifies Payor of its intent to terminate within thirty (30) days of the date of the notice of amendment, the termination will be effective at the end of the ninety (90) day notice period, unless Xxxxx agrees to retract the amendment, in which case the Agreement will remain in full force and effect without the proposed amendment. • Payor may amend this Agreement upon ninety (90) days written notice by sending Provider a copy of the amendment. The information provided herein is for general informational purposes only and does not constitute legal advice. No reader of this document should act or refrain from acting on the basis of information provided herein without first seeking legal advice from counsel in the relevant jurisdiction.

Related to Unilateral amendment

  • Person means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.