Common use of ACCOUNTS RECEIVABLE COLLATERAL Clause in Contracts

ACCOUNTS RECEIVABLE COLLATERAL. The Accounts Receivable and any related reimbursement contracts with the payor of such Accounts Receivable have not been satisfied, subordinated or rescinded in any manner (other than settlements in the Ordinary Course of Business with payors of such Accounts Receivable reached to facilitate collection); such Accounts Receivable were created through the provision of services or merchandise supplied by either (a) the Borrower and its Subsidiaries and the related charges were usual, customary and reasonable, or (b) a Target of an Acquisition prior to such Acquisition and the Borrower believes, after due investigation, that the related charges were usual, customary and reasonable; such Accounts Receivable are owned by the Borrower and its Subsidiaries free and clear of any adverse claim and the Borrower and its Subsidiaries have the right to assign and transfer such Accounts Receivable except as such assignment or transfer would be prohibited by Section 1815(c) of the Social Security Act, 42 U.S.C. ss. 1395g(c) and the regulations promulgated thereunder; and there are no procedures or investigations pending or threatened before any Governmental Authority seeking a determination or ruling that might affect the validity or enforceability of a material portion of such Accounts Receivable subject to the review or jurisdiction of such Governmental Authority.

ACCOUNTS RECEIVABLE COLLATERAL. The Accounts Receivable and any related reimbursement contracts with the payor of such Accounts Receivable have not been satisfied, subordinated or rescinded in any manner (other than settlements in the Ordinary Course of Business with payors of such Accounts Receivable reached to facilitate collection); such Accounts Receivable were created through the provision of services or merchandise supplied by either (a) the Borrower and its Subsidiaries and the related charges were usual, customary and reasonable, or (b) a Target target of an Acquisition prior to such Acquisition and the Borrower believes, after due investigation, that the related charges were usual, customary and reasonable; such Accounts Receivable are owned by the Borrower and its Subsidiaries free and clear of any adverse claim and the Borrower and its Subsidiaries have the right to assign and transfer such Accounts Receivable except as such assignment or transfer would be prohibited by Section 1815(c) of the Social Security Act, 42 U.S.C. ss. 1395g(c) and the regulations promulgated thereunder; and there are no procedures or investigations pending or threatened before any Governmental Authority seeking a determination or ruling that might affect the validity or enforceability of a material portion of such Accounts Receivable subject to the review or jurisdiction of such Governmental Authority. All Accounts Receivable have been appropriately adjusted to reflect changes in reimbursement policies of any Medicaid/Medicare Account Debtor or Nongovernmental Payor that are known by Borrower.