Common use of Collection of Certain Patient Receipts and Payment of Clinic Expenses Clause in Contracts

Collection of Certain Patient Receipts and Payment of Clinic Expenses. VERO II agrees to establish and maintain a bank account, which shall be referred to as the VERO II Operating Account, for the purpose of (a) depositing proceeds from the sale of VERO II's Accounts Receivable pursuant to Section 8.3 and (b) paying (i) any Service Fees owed pursuant to Article VIII of this Agreement, (ii) expenses which are solely the obligation of VERO II (Excluded Expenses), and (iii) compensation or distributions to Physician Owners, and the distributions shall be made in that order of payment. VERO II shall designate a Company employee as a signatory on the VERO II Operating Account. After the payment of any Service Fees owed pursuant to Article VIII of this Agreement, and expenses which are solely the obligation of VERO II, VERO II may withdraw amounts for distributions to Physician Owners.

Collection of Certain Patient Receipts and Payment of Clinic Expenses. VERO II ROAII agrees to establish and maintain a bank account, which shall be referred to as the VERO II ROAII Operating Account, for the purpose of (a) depositing proceeds from the sale of VERO IIROAII's Accounts Receivable pursuant to Section 8.3 and (b) paying (i) any Service Fees owed pursuant to Article VIII of this Agreement, (ii) expenses which are solely the obligation of VERO II ROAII (Excluded Expenses), and (iii) compensation or distributions to Physician Owners, and the distributions shall be made in that order of payment. VERO II ROAII shall designate a Company employee as a signatory on the VERO II ROAII Operating Account. After the payment of any Service Fees owed pursuant to Article VIII of this Agreement, and expenses which are solely the obligation of VERO IIROAII, VERO II ROAII may withdraw amounts for distributions to Physician Owners.