Common use of Option to Purchase Contracts Clause in Contracts

Option to Purchase Contracts. From time to time, Provider may offer in writing (“Offer”) to sell, transfer, assign and convey to UMC all of its right, title and interest in contracts between Provider and its patients in a form acceptable to UMC evidencing consummated credit sales of certain physician services provided by Provider (“Contracts”), which have been completed, or scheduled to be completed, in a manner satisfactory to UMC. UMC shall have the right, but not the obligation, to purchase any and/or all of the Contracts. The purchase shall be at a price to be agreed to between UMC and Provider at or about the time of the Offer by Provider.