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:
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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.
Sample 1
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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