Common use of Right of First Opportunity Clause in Contracts

Right of First Opportunity. The Physician hereby grants IPA the first opportunity to negotiate Risk Contracts and enter into Risk Contracts with a Plan on behalf of the Physician in accordance with the following terms: a. If the Physician is contacted by a Plan for the purpose of participating in the Plan, or if the Physician desires to participate in a Plan or to renew a contract where the IPA also has a contract with such Plan in effect, in any case after the effective date of this Agreement, the Physician agrees to promptly notify IPA in writing of such offer. IPA will have sixty (60) days from the date of notice to execute a letter of intent to enter into a definitive agreement with the Plan and an additional one hundred twenty (120) days after execution of the letter of intent to negotiate and execute a definitive agreement between IPA and the Plan. The Physician agrees to suspend all negotiations with such Plan during the period in which IPA is conducting negotiations with the Plan. IPA agrees to promptly notify the Physician if IPA decides not to contract with the Plan or is otherwise unable to reach an acceptable agreement with such Plan, and in either such case the Physician may after such notice negotiate and execute a separate agreement with the Plan. IPA will use its best efforts to exercise its right of first refusal in an expeditious manner. b. If IPA is contacted by a Plan for the purpose of entering into an agreement with the Plan, or if IPA contacts a Plan for the purpose of entering into a contract with the Plan, IPA will promptly notify the Physician in writing of such contact. The Physician agrees to suspend or forego separate negotiation of a contract with the Plan during a one hundred twenty (120) day period from the date of such notice, during which time IPA may negotiate a definitive agreement between IPA and the Plan. IPA agrees to promptly notify the Physician if it decides not to contract with the Plan or is otherwise unable to reach an acceptable agreement with such Plan, and in either such case, the Physician may after such notice negotiate and execute a separate agreement with the Plan. c. If the Physician has in effect a contract with a Plan as of the date that IPA first executes a contract with a Plan, then the Physician agrees not to renew such contract as of its expiration date and instead to participate in such Plan through IPA as of such expiration date.

Right of First Opportunity. The Physician Group, on behalf of each of the Group Physicians, hereby grants IPA the first opportunity to negotiate Risk Contracts and enter into Risk Contracts with a Plan on behalf of the Physician Group and its Group Physicians in accordance with the following terms: a. If the Group or a Group Physician is contacted by a Plan for the purpose of participating in the Plan, or if the Group or a Group Physician desires to participate in a Plan or to renew a contract where the IPA also has a contract with such Plan in effect, in any case after the effective date of this Agreement, the Physician Group agrees and shall cause its Group Physicians to agree to promptly notify IPA in writing of such offer. IPA will have sixty (60) days from the date of notice to execute a letter of intent to enter into a definitive agreement with the Plan and an additional one hundred twenty (120) days after execution of the letter of intent to negotiate and execute a definitive agreement between IPA and the Plan. The Physician Group agrees and shall cause its Group Physicians to agree to suspend all negotiations with such Plan during the period in which IPA is conducting negotiations with the Plan. IPA agrees to promptly notify the Physician Group if IPA decides not to contract with the Plan or is otherwise unable to reach an acceptable agreement with such Plan, and in either such case the Physician Group and Group Physicians may after such notice negotiate and execute a separate agreement with the Plan. IPA will use its best efforts to exercise its right of first refusal in an expeditious manner. b. If IPA is contacted by a Plan for the purpose of entering into an agreement with the Plan, or if IPA contacts a Plan for the purpose of entering into a contract with the Plan, IPA will promptly notify the Physician Group in writing of such contact. The Physician Group agrees and shall cause Group Physicians to agree to suspend or forego separate negotiation of a contract with the Plan during a one hundred twenty (120) day period from the date of such notice, during which time IPA may negotiate a definitive agreement between IPA and the Plan. IPA agrees to promptly notify the Physician Group if it decides not to contract with the Plan or is otherwise unable to reach an acceptable agreement with such Plan, and in either such case, the Physician Group and Group Physicians may after such notice negotiate and execute a separate agreement with the Plan. c. If the Physician Group or one of the Group Physicians has in effect a contract with a Plan as of the date that IPA first executes a contract with a Plan, then the Physician Group agrees and shall cause its Group Physicians to agree not to renew such contract as of its expiration date and instead to participate in such Plan through IPA as of such expiration date.