Common use of Deposit of Proceeds Clause in Contracts

Deposit of Proceeds. In recognition of the fact that MidSouth will ------------------- have purchased all of the Practice's Private Receivables and to facilitate repayment of the Government Advances, the Practice agrees, within __ days of the date of this Agreement, to deliver a letter, in the form as attached hereto as Exhibit 6.2(b)-1 and Exhibit 6.2(b)-2 to all payors under the Private ---------------- ---------------- Receivables and the Government Receivables, respectively (the "Payor Instruction ----------------- Letter"). The Payor Instruction Letters shall (i) direct payments on Private ------ Receivables to Post Office Box __________ (the "MidSouth Lockbox"), which ---------------- lockbox shall be opened by the Depository Bank and all proceeds of Private Receivables therein contained shall be deposited by the Depository Bank into the Lockbox Account, and (ii) direct payments on Governmental Receivables to Post Office Box __________ (the "Practice Lockbox"), which lockbox shall be opened by ---------------- the Depository Bank and all proceeds of Government Receivables therein contained shall be deposited by the Depository Bank into the Sweeping Account. The depository agreement for the Sweeping Account shall provide (i) that the Depository Bank shall deposit all checks or other forms of payment received in the Practice Lockbox into the Sweeping Account, and (ii) that the account balance in the Sweeping Account shall be "swept" daily into the Lockbox Account. Prior to the effective date of the instructions contained in the Payor Instruction Letters, and to the extent that the Practice receives any payments with respect to its Accounts Receivable and contrary to the terms of any Payor Instruction Letter, the Practice agrees to deposit all such payments received by the Practice as follows:

Deposit of Proceeds. In recognition of the fact that MidSouth PHC-SUB will ------------------- have purchased all of the Practice's Private Receivables and to facilitate repayment of the Government Advances, the Practice agrees, within __ 10 days of the date of this Agreement, to deliver a letter, in the form as attached hereto as Exhibit 6.2(b)-1 EXHIBIT 7.4(B)-1 and Exhibit 6.2(b)-2 EXHIBIT 7.4(B)-2 to all payors under the Private ---------------- ---------------- Receivables and the Government Receivables, respectively (the "Payor Instruction ----------------- Letter"). The Practice acknowledges that PHC-SUB is an intended third party ------ beneficiary of the instructions contained in the Payor Instruction Letter and that such instructions are irrevocable without PHC-SUB's prior written consent. The Payor Instruction Letters shall (i) direct payments on Private ------ the Receivables to Post Office Box __________ (the "MidSouth Lockbox"), which ---------------- lockbox shall be opened by the Depository Bank and all proceeds of Private Receivables therein contained shall be deposited by the Depository Bank into the Lockbox Account, and (ii) direct payments on Governmental Receivables to Post Office Box __________ (the "Practice Lockbox"), which lockbox shall be opened by the ---------------- the Depository Bank and all proceeds of Government Receivables therein contained shall be deposited by the Depository Bank into the Sweeping Account. The depository agreement for the Sweeping Account shall provide (i) that the Depository Bank shall deposit all checks or other forms of payment received in the Practice Lockbox into the Sweeping Account, and (ii) that the account balance in the Sweeping Account shall be "swept" daily into the Lockbox Account. Prior to the effective date of the instructions contained in the Payor Instruction Letters, and to the extent that the Practice receives any payments with respect to its Accounts Receivable and contrary to the terms of any Payor Instruction LetterLetter (including, without limitation, any amounts received directly from patients at the time medical services are rendered or otherwise), the Practice agrees to deposit all such payments received by the Practice into Account No. 717-63961 (the "Sweeping -------- Account") maintained by the Practice at the Fifth Third Bank (the "Depository ------- ---------- Bank"), which such account shall be "swept" daily into Account No. 728-07970 ---- maintained by PHC-SUB at Depository Bank (the "Lockbox Account"). --------------- All amounts received by PHC-SUB as follows:provided above which are proceeds of Private Receivables shall be owned by PHC-SUB. All amounts received by PHC-SUB as provided above which are proceeds of Government Receivables shall be applied first to the repayment of all Government Advances theretofore made, and the balance, if any, shall be refunded to the Practice.

Deposit of Proceeds. In recognition Upon the issuance of the fact that MidSouth will ------------------- have purchased all of the Practice's Private Receivables and to facilitate repayment of the Government AdvancesSubscription Receipts, the Practice agrees, within __ days of Escrowed Proceeds shall be deposited with the Subscription Receipt Agent on the date of this Agreementsuch issuance by way of one or more electronic wire transfers or certified cheques by: (i) the Underwriters, to deliver a letterin an amount representing, in the form as attached hereto as Exhibit 6.2(b)-1 aggregate, (x) the aggregate purchase price for the Subscription Receipts sold pursuant to the Offering to subscribers that are not on the President's List, less (y) an amount representing the sum of the Underwriters' Expenses and Exhibit 6.2(b)-2 to all payors under 50% of the Private ---------------- ---------------- Receivables and the Government Receivables, respectively (the "Payor Instruction ----------------- Letter"). The Payor Instruction Letters shall (i) direct payments on Private ------ Receivables to Post Office Box __________ (the "MidSouth Lockbox"), which ---------------- lockbox shall be opened by the Depository Bank and all proceeds of Private Receivables therein contained shall be deposited by the Depository Bank into the Lockbox Account, Underwriters' Fee; and (ii) direct payments the Corporation's legal counsel, in an amount representing, in the aggregate, the aggregate purchase price for the Subscription Receipts sold pursuant to the Offering to subscribers that are on Governmental Receivables the President's List. The Subscription Receipt Agent shall accept and hold the Escrowed Funds in escrow for and on behalf of the persons who have an interest therein pursuant hereto, shall disburse and deal with the Escrowed Funds in the manner contemplated by and in accordance with the provisions of this Article Seven, and at all times shall keep the Escrowed Proceeds in a segregated account, all on the terms and subject to Post Office Box __________ (the "Practice Lockbox"), which lockbox shall be opened by ---------------- conditions hereof. The Corporation acknowledges and agrees that it is a condition of the Depository Bank and all proceeds of Government Receivables therein contained shall be deposited payment by the Depository Bank into holders of Subscription Receipts of the Sweeping Accountissue price therefor that the Escrowed Proceeds are held by the Subscription Receipt Agent in accordance with the provisions of this Article Seven. The depository agreement Corporation and the Lead Underwriters each further acknowledges and confirms that it has no interest in the Escrowed Proceeds or in the interest accrued thereon unless and until the Release Notice is delivered to the Subscription Receipt Agent. The Subscription Receipt Agent shall retain the Escrowed Proceeds and the interest accrued thereon for the Sweeping Account shall provide (i) that benefit of the Depository Bank shall deposit all checks or other forms holders of payment received in Subscription Receipts and, upon the Practice Lockbox into delivery of the Sweeping Account, and (ii) that the account balance in the Sweeping Account shall be "swept" daily into the Lockbox Account. Prior Release Notice to the effective date Subscription Receipt Agent, retroactively for the benefit of the instructions contained Corporation and the Underwriters in accordance with the Payor Instruction Letters, and to the extent that the Practice receives any payments with respect to its Accounts Receivable and contrary to the terms provisions of any Payor Instruction Letter, the Practice agrees to deposit all such payments received by the Practice as follows:this Article Seven.