Insurer Payment Mechanics Sample Clauses

Insurer Payment Mechanics. GOVERNMENTAL ENTITIES PAYMENT MECHANICS; EOB'S; MISDIRECTED PAYMENTS.................................................. 17 ss. 3.01.

Insurer Payment Mechanics. (a) On or prior to the Initial Purchase Date, the Provider and the Purchaser shall have entered into the Depositary Agreement and shall have caused the Lockbox Bank to establish the Purchaser Lockbox and Purchaser Lockbox Account. The Provider shall prepare, execute and deliver on or prior to the Initial Purchase Date to each Insurer who becomes an Obligor of Designated Receivables from time to time, with copies to the Purchaser, Notices to Insurers addressed to each such Insurer, which Notice to Insurers shall provide that all checks and EOB's from such Insurers on account of Receivables shall be sent to the Purchaser Lockbox and all wire transfers on account of Eligible Receivables shall be wired directly into the Purchaser Lockbox Account. (b) On and after the Initial Purchase Date, the Provider shall cause all invoices that are sent to Insurers who are qualified to be Obligors of Designated Receivables from time to time (and return envelopes, if provided by the Provider) to set forth only the address of the Purchaser Lockbox as a return address for payment of Receivables and delivery of EOB's, and only the Purchaser Lockbox Account with respect to wire transfers for payment of Receivables. The Provider hereby further covenants and agrees to instruct and notify each of the members of the Provider's accounting and collections staff to provide identical information in communications with such Insurers with respect to Collections, wire transfers and EOB's.

Insurer Payment Mechanics. (a) On or prior to the initial ------------------------- Borrowing Date, the Borrower shall have entered into a lockbox agreement (the terms of which shall be satisfactory to the Agent) with respect to the Preexisting Lockbox and the related Preexisting Lockbox Account for each Health Care Provider that generates Pledged Receivables due and owing from Insurers that are, at any time, in excess of five percent (5%) of all Pledged Receivables generated by such Health Care Provider. On or prior to the initial Borrowing Date, the Borrower shall have entered into Assignment Agreements with each bank (each a "Preexisting Lockbox Bank") at which, at the time of the initial ------------------------ Borrowing Date, the Borrower maintains a Preexisting Lockbox and the related Preexisting Lockbox Account. The Borrower hereby conveys, transfers and assigns, as security, to the Agent for the benefit of the Lender all of its rights and interests of every kind in the Preexisting Lockboxes and the