Effect of Change in Rates. Patriot and FRP shall use their reasonable efforts to cause each of the insurance companies, HMOs, point-of-service vendors and third-party administrators providing services and benefits under the New FRP Health and Welfare Plans and the Patriot Health and Welfare Plans to maintain the premium and/or administrative rates based on the aggregate number of participants in both the New FRP Health and Welfare Plans and the Patriot Health and Welfare Plans through the expiration of the financial fee or rate guarantees in effect as of the Close of the Distribution Date under the respective contracts, policies, and agreements separately rated or adjusted for the demographics, experience or other relevant factors related to the covered participants of Patriot and FRP, respectively. To the extent they are not successful in such efforts, Patriot and FRP shall each bear the revised premium or administrative rates attributable to the individuals covered by their respective health and welfare plans.
Appears in 3 contracts
Sources: Employee Matters Agreement (FRP Holdings, Inc.), Employee Matters Agreement (New Patriot Transportation Holding, Inc.), Employee Matters Agreement (New Patriot Transportation Holding, Inc.)