Collection Agent Matters Sample Clauses

Collection Agent Matters. (a) As of and from the Effective Time, Buyer shall serve as Seller’s agent for purposes of collecting Accounts Receivable and Agency Settlements owed to Seller, and paying Accounts Payable, Agency Settlements and the Accrued PTO Cash-Out Amounts owed by Seller. Buyer shall use commercially reasonable efforts consistent with its ordinary course collections practices to collect the Accounts Receivable and Agency Settlements when due and to timely pay the Agency Settlements and Accounts Payable owed by Seller, which payments shall be paid from collections of Accounts Receivable and Agency Settlements; provided that Buyer may but is not obligated to advance funds to pay any Accounts Payable or Agency Settlements, in which case Buyer shall be entitled to reimburse itself from collections of Accounts Receivable and Agency Settlements. By agreeing to act as Seller’s agent for the limited purposes set forth in this Section 6.24, Buyer does not guarantee, and Seller acknowledges that Buyer is not guaranteeing, that Buyer will collect all Accounts Receivable and Agency Settlements owed to Seller as of the Closing Date, and Buyer will have no liability to Seller for Buyer’s inability to collect all such Accounts Receivable and Agency Settlements. Buyer may engage a third party collection agency or consultant with Medicare cost report expertise to facilitate collection of Accounts Receivable and Agency Receivables, respectively, or otherwise assign its obligations under this Section 6.24(a) to a third party. Buyer shall maintain accurate and complete records of its collection and payment activities under this Section 6.24(a). (b) If the sum of (i) cash received by Buyer upon collection of Accounts Receivable and Agency Settlements plus Seller PIP Payments plus Seller Straddle Patient Payments, without duplication, exceeds the sum of (ii) cash paid by Buyer to satisfy Accounts Payable and Agency Settlements, plus the aggregate Accrued PTO Cash-Out Amount paid by Buyer on behalf of Seller, plus the Collection Service Fee, then Buyer shall deliver such excess amount to Seller, by wire transfer of immediately available funds, within five (5) days after the second anniversary of the Closing Date.
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Related to Collection Agent Matters

  • AGENT/MANAGER (check one)

  • Respective Liabilities of the Depositor and the Servicer The Depositor and the Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.

  • Collateral Agent May Perform If any Grantor fails to perform any agreement contained in this Agreement, the Collateral Agent may (but shall not be obligated to) after such prior notice as may be reasonable under the circumstances, itself perform, or cause performance of, such agreement, and the expenses of the Collateral Agent incurred in connection with doing so shall be payable by the Grantors.

  • Respective Liabilities of the Depositor and the Master Servicer The Depositor and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.

  • Sub-Servicing Agreements Between Master Servicer and Sub-Servicers (a) The Master Servicer may enter into Sub-Servicing Agreements with Sub- Servicers for the servicing and administration of the Mortgage Loans and for the performance of any and all other activities of the Master Servicer hereunder. Each Sub-Servicer shall be either (i) an institution the accounts of which are insured by the FDIC or (ii) another entity that engages in the business of originating or servicing mortgage loans, and in either case shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement, and in either case shall be a ▇▇▇▇▇▇▇ Mac or ▇▇▇▇▇▇ Mae approved mortgage servicer. Each Sub-Servicing Agreement must impose on the Sub-Servicer requirements conforming to the provisions set forth in Section 3.08 and provide for servicing of the Mortgage Loans consistent with the terms of this Agreement. With the consent of the Trustee, which consent shall not be unreasonably withheld, the Master Servicer and the Sub-Servicers may enter into Sub-Servicing Agreements and make amendments to the Sub-Servicing Agreements or enter into different forms of Sub-Servicing Agreements; provided, however, that any such amendments or different forms shall be consistent with and not violate the provisions of this Agreement. (b) As part of its servicing activities hereunder, the Master Servicer, for the benefit of the Trustee and the Certificateholders, shall enforce the obligations of each Sub-Servicer under the related Sub-Servicing Agreement, including, without limitation, any obligation to make advances in respect of delinquent payments as required by a Sub-Servicing Agreement, or to purchase a Mortgage Loan on account of defective documentation or on account of a breach of a representation or warranty, as described in Section 2.02. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Master Servicer, in its good faith business judgment, would require were it the owner of the related Mortgage Loans. The Master Servicer shall pay the costs of such enforcement at its own expense, but shall be reimbursed therefor only (i) from a general recovery resulting from such enforcement only to the extent, if any, that such recovery exceeds all amounts due in respect of the related Mortgage Loans or (ii) from a specific recovery of costs, expenses or attorneys' fees against the party against whom such enforcement is directed.