DEPOSIT OF NET CLINIC REVENUES Sample Clauses

DEPOSIT OF NET CLINIC REVENUES. During the term of this Agreement, all Net Clinic Revenues collected resulting from the operations of the Clinic shall be deposited directly into a bank account of which KDCP shall be the owner ("Account"). ProMedCo- Temple and KDCP shall maintain their accounting records in such a way as to clearly segregate Net Clinic Revenues from other funds of ProMedCo-Temple or KDCP. KDCP hereby appoints ProMedCo-Temple as its true and lawful attorney-in-fact to deposit in the Account all revenues collected. KDCP covenants, and shall cause all KDCP Employees to covenant, to forward any payments received with respect to Net Clinic Revenues for services provided by KDCP and KDCP Employees to ProMedCo-Temple for deposit. ProMedCo- Temple shall have the right to withdraw funds from the Account and all owners of the Account shall execute a revocable standing transfer order ("Transfer Order") under which the bank maintaining the Account shall periodically transfer the entire balance of the Account to a separate bank account owned solely by ProMedCo-Temple ("ProMedCo-Temple Account"). KDCP and ProMedCo-Temple hereby agree to execute from time to time such documents and instructions as shall be required by the bank maintaining the Account and mutually agreed upon to effectuate the foregoing provisions and to extend or amend such documents and instructions. Any action by KDCP that interferes with the operation of this Section, including, but not limited to, any failure to deposit or allow ProMedCo-Temple to deposit any Net Clinic Revenues into the Account, any withdrawal of any funds from the Account not authorized by the express terms of this Agreement, or any revocation of or attempt to revoke the Transfer Order (otherwise than upon expiration or termination of this Agreement), will constitute a breach of this Agreement and will entitle ProMedCo-Temple, in addition to any other remedies that it may have at law or in equity, to seek a court ordered assignment of the following rights: (a) To collect accounts receivable resulting from the provision of services to patients of KDCP and the KDCP Employees; (b) To receive payments from patients, third party payor plans, insurance companies, Medicare, Medicaid and all other payors with respect to services rendered by KDCP and its KDCP Employees; (c) To take possession of and endorse any notes, checks, money orders, insurance payments and any other instruments received as payment of such accounts receivable; and (d) To collect all r...
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DEPOSIT OF NET CLINIC REVENUES. During the term of this Agreement, all Net Clinic Revenues collected resulting from the operations of the Clinic shall be deposited directly into a bank account of which ADC shall be the owner ("Account"). ProMedCo and ADC shall maintain their accounting records in such a way as to clearly segregate Net Clinic Revenues from other funds of ProMedCo or ADC. ADC hereby appoints ProMedCo as its true and lawful attorney-in-fact to deposit in the Account all revenues collected. ADC covenants, and shall cause all ADC Employees to covenant, to forward any payments received with respect to Net Clinic Revenues for services provided by ADC and ADC Employees to ProMedCo for deposit. ADC and ProMedCo hereby agree to execute from time to time such documents and instructions as shall be required by the bank maintaining the Account and mutually agreed upon to effectuate the foregoing provisions and to extend or amend such documents and instructions.
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DEPOSIT OF NET CLINIC REVENUES. Except as provided in Section 3.5(e) and Exhibit 3.5(e), during the term of this Agreement, all revenues collected, which revenues were generated by or on behalf of the Clinic, Practice or their respective employees, shall be transferred to or deposited directly into a bank account at its "Credit Facility Lender" (as defined in Section 5.5(c)), of which Manager shall be the owner and from which Manager shall have the sole right to make withdrawals ("Account"). Manager shall maintain its accounting records in such a way as to clearly segregate Net Clinic Revenues from other funds of Manager. Practice hereby appoints Manager as its true and lawful attorney-in-fact to deposit in the Account all Net Clinic Revenues collected. Practice and Manager hereby agree to execute from time to time such documents and instructions as shall be required by the Credit Facility Lender and mutually agreed upon to effectuate the foregoing provisions and to extend or amend such documents and instructions. Any funds in the Physician Deposit Account which are not made available to Manager due to any revocation of its authority under the Billing Agreement shall, at Manager's election, be deemed delivered for purposes of this section.
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Related to DEPOSIT OF NET CLINIC REVENUES

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  • Future Treatment of Unallowable Costs Unallowable Costs shall be separately determined and accounted for by Defendants, and Defendants shall not charge such Unallowable Costs directly or indirectly to any contracts with the United States or any State Medicaid program, or seek payment for such Unallowable Costs through any cost report, cost statement, information statement, or payment request submitted by Defendants or any of their subsidiaries or affiliates to the Medicare, Medicaid, TRICARE, or FEHBP Programs.

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  • Foreign Asset/Account, Exchange Control and Tax Reporting The Participant may be subject to foreign asset/account, exchange control and/or tax reporting requirements as a result of the acquisition, holding and/or transfer of shares of Common Stock or cash (including dividends and the proceeds arising from the sale of shares of Common Stock) derived from his or her participation in the Plan, to and/or from a brokerage/bank account or legal entity located outside the Participant’s country. The applicable laws of the Participant’s country may require that he or she report such accounts, assets, the balances therein, the value thereof and/or the transactions related thereto to the applicable authorities in such country. The Participant acknowledges that he or she is responsible for ensuring compliance with any applicable foreign asset/account, exchange control and tax reporting requirements and should consult his or her personal legal advisor on this matter.

  • Distributions; Xxxxxx Xxx Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

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