Repayment of Excess Monthly Income. In each month of the Subsidy Period that the Gross Collections exceed the Professional Expenses (the "Excess Collections"), the Physician agrees to pay the Excess Collections to the District to be applied to any Income Subsidy the District advanced during the preceding months of the Subsidy Period. In no event, however, shall the Physician be required to reimburse the District by an amount greater than the Excess Collections for that month. In the event the payments due to the District hereunder are not made as set forth above, the outstanding balance shall bear interest from the date payment is due until the date paid at the prime rate, as published in the Wall Street Journal on the date payment is due, plus one percent per annum.
Appears in 2 contracts
Samples: Agreement for Physician Services, Agreement for Physician Services
Repayment of Excess Monthly Income. In each month of the Subsidy Period that the Gross Collections exceed the Professional Expenses (the "Excess Collections"), the Physician agrees Provider may elect to pay the Excess Collections to the District to be applied to any Income Subsidy the District advanced during the preceding months of the Subsidy Period. In no event, however, shall the Physician Provider be required to reimburse the District by an amount greater than the Excess Collections for that month. In the event the payments due to the District hereunder are not made as set forth above, the outstanding balance shall bear interest from the date payment is due until the date paid at the prime rate, as published in the Wall Street Journal on the date payment is due, plus one percent per annum.
Appears in 2 contracts
Samples: Agreement for Physician Services, Agreement for Physician Services
