Common use of Payment of the Management Fee Clause in Contracts

Payment of the Management Fee. To facilitate the payment of the Management Fee, Medical Practice expressly authorizes Practice Manager to draw its Management Fee from the Medical Practice Account on the fifth business day of each calendar month (or on the date of expiration or termination of this Agreement if not on the first business day of a calendar month) following the payment of all Practice and Practice Manager’s expenses. The payment of the Management Fee shall commence during the second calendar month of the Term and continue monthly thereafter, and shall be based upon the Gross Collections during the immediately preceding calendar month. Practice Manager shall have the right to obtain loans for any business purpose the Practice Manager deems reasonable either on behalf of Medical Practice or for Practice Manager and to use any or all tangible and intangible assets of the Medical Practice as collateral for these loans from financial institutions whether or not such loans are obtained in the name of Practice Manager or Medical Practice.