Common use of Collection of Governmental Receivables Clause in Contracts

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPS, Provider agrees that the following procedures shall apply: (a) Provider shall enter into a lockbox agreement applicable to Governmental Receivables and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of Provider. All payments in respect of Providers Governmental Receivables are to be made directly to such account. In the event IPS exercises this option, Provider shall instruct each Account Debtor in respect of Providers Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider shall attach written instructions to each invoice directing that said invoice be paid to the Governmental Lockbox Account. Provider agrees that it shall not deposit any funds other than payments of Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPS. Provider further agrees that it shall not during the term of this Agreement, terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (b) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider shall instruct the Collecting Bank to transfer all amounts deposited in the Governmental Lockbox Account constituting collected funds to IPSs Main Account. Provider shall have no right or interest in the Main Account. Provider shall not, so long as any Assigned A/R remains unpaid, change or cancel such automatic transfer at any time, or, without the prior written consent of IPS, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of the related Governmental Receivable to make its payments to such Account. Any such action shall be considered a breach of this Agreement for which IPS shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (c) Provider will cooperate with IPS and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R have been collected. (d) Provider agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of a Governmental Receivable received by Provider that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by Provider.

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPSCompany, Provider Princeton II agrees that the following procedures shall apply: (a) Provider Princeton II shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for Company and reasonably acceptable to Princeton II and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of ProviderPrinceton II. All payments in respect of Providers Princeton II's Governmental Receivables are to be made directly to such account. In the event IPS Company exercises this option, Provider Princeton II shall instruct each Account Debtor in respect of Providers Princeton II's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider Princeton II shall attach written instructions to each invoice directing representing such Governmental Receivable generated subsequent to the date of this Agreement instructing such Third-Party Payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider Princeton II agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSCompany. Provider Princeton II further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (b) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider Princeton II shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Company's Main Account. Provider Princeton II shall have no right or interest in the Main Account. Provider Princeton II shall not, so long as any Assigned A/R purchased Account remains unpaid, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSCompany, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS Company shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (c) Provider Princeton II will cooperate with IPS Company and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R purchased Accounts sold hereunder have been collected. (d) Provider agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of a Governmental Receivable received by Provider that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by Provider.

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPSCompany, Provider TOC agrees that the following procedures shall apply: (a) Provider TOC shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for Company and reasonably acceptable to TOC and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of ProviderTOC. All payments in respect of Providers TOC's Governmental Receivables are to be made directly to such account. In the event IPS Company exercises this option, Provider TOC shall instruct each Account Debtor in respect of Providers TOC's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider TOC shall attach written instructions to each invoice directing representing such Governmental Receivable generated subsequent to the date of this Agreement instructing such Third-Party Payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider TOC agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSCompany. Provider TOC further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (b) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider TOC shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Company's Main Account. Provider TOC shall have no right or interest in the Main Account. Provider TOC shall not, so long as any Assigned A/R purchased Account remains unpaid, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSCompany, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS Company shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (c) Provider TOC will cooperate with IPS Company and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R purchased Accounts sold hereunder have been collected. (d) Provider TOC agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider TOC that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by ProviderTOC, unless the failure to make such deposit is attributable to Company.

Collection of Governmental Receivables. With respect to payments on -------------------------------------- Governmental Receivables, at the request and option of IPSMidSouth, Provider the Practice agrees that the following procedures shall apply: (ai) Provider The Practice shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for MidSouth and in a form reasonably acceptable to the Practice which shall establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of Providerthe Practice. All payments in with respect of Providers to the Practice's Governmental Receivables are to be made directly to such accountthe Governmental Lockbox Account. In the event IPS MidSouth exercises this option, Provider the Practice shall instruct each Account Debtor in with respect of Providers to the Practice's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider the Practice shall attach written instructions to each invoice directing representing such Governmental Receivables generated subsequent to the date of this Agreement which will instruct such third-party payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider The Practice agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSMidSouth. Provider The Practice further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (bii) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider the Practice shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Main Accountthe Disbursement Account in accordance with Section 3.l(b)(2). Provider The Practice shall have no right or interest in the Main Disbursement Account. Provider The Practice shall not, so long as this Agreement has not been terminated pursuant to Section 10.3 or so long as any Assigned A/R Purchased Accounts Receivable remains unpaidoutstanding, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSMidSouth, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its regarding making payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS MidSouth shall be entitled to all remedies at law Applicable Law and in equity, including the obtaining of an injunction. (ciii) Provider The Practice will cooperate with IPS MidSouth and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R Purchased Accounts Receivable sold hereunder have been collected. (div) Provider The Practice agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider the Practice that is not deposited in the Governmental Lockbox Account within forty-eight two (482) hours business days after receipt by Providerthe Practice. Except that the finance charge shall not apply to payments made on Purchased Accounts Receivables which are made as part of a cash, check or credit card payment at the time of the delivery of medical services by the Practice which are remitted to the Practice Account ("Joint Payment"). All Joint Payments shall be allocated and remitted to the appropriate party on the Settlement Date.

Collection of Governmental Receivables. With respect to payments on -------------------------------------- Governmental Receivables, at the request and option of IPSMidSouth, Provider the Practice agrees that the following procedures shall apply: (ai) Provider The Practice shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for MidSouth and in a form reasonably acceptable to the Practice which shall establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of Providerthe Practice. All payments in with respect of Providers to the Practice's Governmental Receivables are to be made directly to such accountthe Governmental Lockbox Account. In the event IPS MidSouth exercises this option, Provider the Practice shall instruct each Account Debtor in with respect of Providers to the Practice's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider the Practice shall attach written instructions to each invoice directing that said representing such Governmental Receivables generated subsequent to the date of this Agreement which will instruct such third-party payor or Account Debtor that-payment under such invoice is to be paid to the Governmental Lockbox Account. Provider So long as this Agreement has not been terminated pursuant to Section 10.3 or so long as any Purchased Accounts Receivable remains outstanding, the Practice agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSMidSouth. Provider The Practice further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (bii) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider the Practice shall instruct the Collecting Bank to transfer automatically on a daily basis all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Main the Disbursement Account. Provider The Practice shall have no right or interest in the Main Disbursement Account. Provider The Practice shall not, so long as any Assigned A/R Purchased Accounts Receivable remains unpaidoutstanding, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSMidSouth, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its regarding making payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS MidSouth shall be entitled to all remedies at law Applicable Law and in equity, including the obtaining of an injunction. (ciii) Provider The Practice will cooperate with IPS MidSouth and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R Purchased Accounts Receivable sold hereunder have been collected. (div) Provider The Practice agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider the Practice that is not deposited in into the Governmental Lockbox Account within forty-eight two (482) hours business days after receipt by Providerthe Practice.

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPSCompany, Provider ROAII agrees that the following procedures shall apply: (a) Provider ROAII shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for Company and reasonably acceptable to ROAII and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of ProviderROAII. All payments in respect of Providers ROAII's Governmental Receivables are to be made directly to such account. In the event IPS Company exercises this option, Provider ROAII shall instruct each Account Debtor in respect of Providers ROAII's Governmental Receivables to remit all such payments directly to such such 8.3.6-1 Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider ROAII shall attach written instructions to each invoice directing representing such Governmental Receivable generated subsequent to the date of this Agreement instructing such Third-Party Payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider ROAII agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSCompany. Provider ROAII further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (b) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider ROAII shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Company's Main Account. Provider ROAII shall have no right or interest in the Main Account. Provider ROAII shall not, so long as any Assigned A/R purchased Account remains unpaid, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSCompany, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS Company shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (c) Provider ROAII will cooperate with IPS Company and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R purchased Accounts sold hereunder have been collected. (d) Provider ROAII agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider ROAII that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by ProviderROAII.

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPSCompany, Provider GCOA agrees that the following procedures shall apply: (a) Provider GCOA shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for Company and reasonably acceptable to GCOA and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of ProviderGCOA. All payments in respect of Providers GCOA's Governmental Receivables are to be made directly to such account. In the event IPS Company exercises this option, Provider GCOA shall instruct each Account Debtor in respect of Providers GCOA's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider GCOA shall attach written instructions to to 8.3.6-1 each invoice directing representing such Governmental Receivable generated subsequent to the date of this Agreement instructing such Third-Party Payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider GCOA agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSCompany. Provider GCOA further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (b) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider GCOA shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Company's Main Account. Provider GCOA shall have no right or interest in the Main Account. Provider GCOA shall not, so long as any Assigned A/R purchased Account remains unpaid, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSCompany, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS Company shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (c) Provider GCOA will cooperate with IPS Company and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R purchased Accounts sold hereunder have been collected. (d) Provider GCOA agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider GCOA that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by ProviderGCOA.

Collection of Governmental Receivables. With respect to payments on -------------------------------------- Governmental Receivables, at the request and option of IPSMidSouth, Provider the Practice agrees that the following procedures shall apply: (ai) Provider The Practice shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for MidSouth and in a form reasonably acceptable to the Practice which shall establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of Providerthe Practice. All payments in with respect of Providers to the Practice's Governmental Receivables are to be made directly to such accountthe Governmental Lockbox Account. In the event IPS MidSouth exercises this option, Provider the Practice shall instruct each Account Debtor in with respect of Providers to the Practice's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider the Practice shall attach written instructions to each invoice directing representing such Governmental Receivables generated subsequent to the date of this Agreement which will instruct such third-party payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider So long as this Agreement has not been terminated pursuant to Section 10.3 or so long as any Purchased Accounts Receivable remain outstanding, the Practice agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSMidSouth. Provider The Practice further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (bii) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider the Practice shall instruct the Collecting Bank to transfer automatically on a daily basis all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs Main Accountthe Disbursement Account in accordance with Section 3.1(b)(2). Provider The Practice shall have no right or interest in the Main Disbursement Account. Provider The Practice shall not, so long as any Assigned A/R Purchased Accounts Receivable remains unpaidoutstanding, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSMidSouth, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its regarding making payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS MidSouth shall be entitled to all remedies at law Applicable Law and in equity, including the obtaining of an injunction. (ciii) Provider The Practice will cooperate with IPS MidSouth and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R Purchased Accounts Receivable sold hereunder have been collected. (div) Provider The Practice agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider the Practice that is not deposited in the Governmental Lockbox Account within forty-eight two (482) hours business days after receipt by Providerthe Practice.

Collection of Governmental Receivables. With respect to payments on Governmental Receivables, at the request and option of IPSSCN, Provider OSMC II agrees that the following procedures shall apply: (ai) Provider OSMC II shall enter into a lockbox agreement Lockbox Agreement applicable to Governmental Receivables in a form acceptable to counsel for SCN and reasonably acceptable to OSMC II and establish a Governmental Lockbox Account. The Governmental Lockbox Account shall be an account in the name of ProviderOSMC II. All payments in respect of Providers OSMC II's Governmental Receivables are to be made directly to such account. In the event IPS SCN exercises this option, Provider OSMC II shall instruct each Account Debtor in respect of Providers OSMC II's Governmental Receivables to remit all such payments directly to such Governmental Lockbox Account pursuant to a Notification Letter. In addition, Provider OSMC II shall attach written instructions to each invoice directing representing such Governmental Receivable generated subsequent to the date of this Agreement instructing such Third-Party Payor or Account Debtor that said payment under such invoice is to be paid to the Governmental Lockbox Account. Provider XXXX XX agrees that it shall not deposit any funds other than payments of on Governmental Receivables into, nor make any withdrawals from, the Governmental Lockbox Account without the prior written consent of IPSSCN. Provider XXXX XX further agrees that it shall not during the term of this Agreement, Agreement terminate, modify or amend in any manner the Lockbox Agreement applicable to the Governmental Lockbox Account. (bii) In accordance with the Lockbox Agreement pertaining to Governmental Receivables, Provider OSMC II shall instruct the Collecting Bank to transfer automatically all amounts deposited in the Governmental Lockbox Account constituting collected good funds to IPSs SCN's Main Account. Provider OSMC II shall have no right or interest in the Main Account. Provider OSMC II shall not, so long as any Assigned A/R purchased Account remains unpaid, change or cancel such automatic transfer order at any time, or, without the prior written consent of IPSSCN, change either the identity of the Governmental Lockbox Account or the instructions to each Account Debtor of on the related Governmental Receivable to make its payments to such Accountaccount. Any such action shall be considered a breach of this Agreement for which IPS SCN shall be entitled to all remedies at law and in equity, including the obtaining of an injunction. (ciii) Provider OSMC II will cooperate with IPS SCN and its agents in the identification of sums deposited into the Governmental Lockbox Account, which cooperation shall continue until all Assigned A/R purchased Accounts sold hereunder have been collected. (div) Provider OSMC II agrees to pay, on demand, a finance charge equal to the Finance Charge Rate, on any payment of on a Governmental Receivable received by Provider OSMC II that is not deposited in the Governmental Lockbox Account within forty-eight (48) hours after receipt by ProviderOSMC II.