Banking & Financial Reconciliation Sample Clauses

Banking & Financial Reconciliation. Seller will use its best efforts to cooperate in transitioning the banking and financial processes for the Hospital, including but not limited to: sending wire transfer payments or automated clearing house transfer payments from Seller’s accounts to Buyer’s accounts for accounts receivable dated during the Lease, preparing quarterly Credit Balance Reports for Medicare for periods prior to the Effective Date, and assisting Buyer with other government or third party patient payer reports as needed for activities of the Hospital prior to the Effective Date. (i) Buyer shall be responsible for setting up and managing its financial institution account(s) for receiving funds, and shall notify Seller in writing of the accounts it chooses to use for accounts receivable, including any changes to such accounts. (ii) Buyer hereby appoints Seller as its agent for purposes of billing and collecting Buyer’s accounts receivable as provided for herein and Seller hereby agrees to execute any and all documents reasonably necessary to memorialize such appointments. Buyer further appoints Seller to be its true and lawful attorney-in-fact during the term of this TSA for purposes of (i) billing and collecting in the name of Buyer, and (ii) receiving, taking possession of and endorsing in the name of Buyer any notes, checks, money orders, insurance payments and other instruments received in payment of accounts receivable of Buyer.

Banking & Financial Reconciliation. Transferor will use its best efforts to cooperate in transitioning the banking and financial processes for Evolutions, including, but not limited to, sending wire transfer payments or automated clearing house transfer payments from Transferor’s accounts to Transferee’s accounts for accounts receivable dated during the Lease. (i) Transferee shall be responsible for setting up and managing its financial institution account(s) for receiving funds, and shall notify Transferor in writing of the accounts it chooses to use for accounts receivable, including any changes to such accounts. (ii) Transferee hereby appoints Transferor as its agent for purposes of billing and collecting Transferee’s accounts receivable as provided for herein and Transferor hereby agrees to execute any and all documents reasonably necessary to memorialize such appointments. Transferee further appoints Transferor to be its true and lawful attorney-in-fact during the term of this Agreement for purposes of (i) billing and collecting in the name of Transferee, and (ii) receiving, taking possession of and endorsing in the name of Transferee any notes, checks, money orders, and other instruments received in payment of accounts receivable of Transferee.