R2004-163 AUTHORIZING APPLICATIONS FOR GROUP HEALTH INSURANCE COVERAGE

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the case, unless otherwise agreed to in writing by the other party. In order to assume the Agreement, the assuming party shall: (i) cure, or provide adequate assurance that the party will promptly cure any default that may exist under the Agreement; (ii) compensate, or provide adequate assurance that assuming the party will promptly compensate the other party for any actual pecuniary loss resulting from such default; and (iii) provide adequate assurance of future performance under the Agreement. If the party fails to assume the Agreement within this 30-day period, the Agreement will be deemed rejected, as a matter of law and all rights of the party under the Agreement shall terminate. 7.03 "Administrator" Obligations on Termination. Within thirty(30) days after such effective date of termination, the"Administrator" shall make available to the "EMPLOYER"the following: a. All unprocessed applications for benefits; b. All claim files; and c. A check for the undisbursed balance of `Bmployer's"or Plan's funds remaining in the Claims Account shall be paid to the person or entity designated by"EMPLOYER"or its designate. 7.04 "EMPLOYER"Default. Upon default of payment, "EMPLOYER" shall be liable for all fees during the period in which services were provided under this Agreement and in which such fees were in arrears, and shall pay the same to the "Administrator"within five (5) days after demand. Upon default by"EMPLOYER"the following will apply: a. The"Administrator"is under no obligation to do electronic filing of 1099's unless the additional fees are paid in advance. b. There is no refund or pro-rata refund of any annual administration fee. 7.05 "EMPLOYER" Liability for Benefits After Termination. Upon termination of the Agreement, the"Administrator" shall cease to act on behalf of "EMPLOYER", and "EMPLOYER" shall be liable for the payment of all eligible benefit claims incurred at the time of termination. 8