Practice Account definition

Practice Account means the bank account maintained by the Practice for payment of Excluded Expenses, receipt of the Monthly Payment and any other receipts or disbursements deemed appropriate by the Practice that do not violate the terms of this Agreement.

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Practice Account means the bank account established as described in Sections 3.11 herein below.

Practice Account has the meaning set forth in Section 5.1.4

Examples of Practice Account in a sentence

Professional Business Manager shall have access to the Professional Practice Account solely for the purposes stated herein.
The Practice shall prepare or arrange for the preparation by an accountant selected by the Practice of all appropriate corporate tax returns and reports required of the Practice including such returns and reports required with respect to the Professional Practice Account.
The Company will provide a Free Practice Account to the Client and credit virtual funds to the balance of such account (Demo Account).
To take possession of, endorse in the name of Medical Practice, subject to required reassignment by Physicians, and deposit into the Medical Practice Account any notes, checks, money orders, insurance payments, and any other instruments received in payment of accounts receivable for Medical Services.
To deposit all amounts collected into the Medical Practice Account, which shall be and at all times remain in Medical Practice’s name.
Upon the request of Practice Manager, Medical Practice shall execute and deliver to the financial institution wherein the Medical Practice Account is maintained, any additional documents or instruments that may be necessary to evidence or effect the special power of attorney granted to Practice Manager by Medical Practice pursuant to this Section or pursuant to Section 5.10 of this Agreement.
Practice Manager shall have access to the Medical Practice Account solely for the purposes stated in this Agreement.
Professional Business Manager shall administer, be responsible for, and be obligated to pay for all Office Expenses; provided, however, that Professional Business Manager shall only be liable for Office Expenses to the extent of funds in the Professional Practice Account.
Professional Business Manager shall not make any withdrawal from the Professional Practice Account unless expressly authorized in this Agreement.
Practice Manager shall have sole access to the Medical Practice Account.

More Definitions of Practice Account

Practice Account means the bank account of Practice established as described in Section 5.5(b)(ii).

Practice Account means that bank account selected by Practice, maintained in Practice's name and over which Practice has sole control, and which is referred to in Section 4.8 hereof.

Practice Account shall refer to the account set up in Practice’s name pursuant to Section 5.2 hereof, into which WellQuest shall pay on the tenth day of each month an amount equal to the previous month’s expected accounts receivable of the Practice, and out of which WellQuest shall make all disbursements, including disbursements to fund the Practice Payroll Account. 2.1.10. “Practice Employees” shall mean (i) those individuals who are employees of Practice or are otherwise under contract with Practice to provide professional services to Practice patients and are duly licensed to provide professional medical services in the State of Arkansas, including physicians and Allied Health Professionals. 2.1.11. “Practice Lockbox Account” shall refer to the account set up in Practice’s name and under Practice’s control, but subject to a lockbox daily “sweep” order pursuant to Section 5.1 hereof, into which all Practice Revenue collected for the Practice by WellQuest from patients and third party payors shall be deposited. 2 2.1.12. “Practice Operating Expenses” shall mean all operating and non-operating expenses incurred in the operation of the Practice, including, without limitation: (a) Salaries, benefits, and other direct costs of materials, services and employees of WellQuest at the Practice including depreciation and interest expenses and other indirect costs; and (b) Regional Costs, which shall be defined as material costs and direct costs of all employees or consultants of Parent who provide services at or in connection with the Practice required for improved Practice performance, such as work management, materials management, purchasing, marketing, advertising, and business office consultation; provided, however, only that portion of such material costs or employee’s or consultant’s costs that is allocable to work performed at or for the benefit of the Practice will be a Practice Operating Expense. 2.1.13. “Practice Operating Profit” shall mean for the applicable period Net Revenues, less Practice Payroll Account payments, management fees payable to WellQuest, and Practice Operating Expenses. 2.1.14. “Practice Payroll Account” shall mean the account established by WellQuest in Practice’s name, and under Practice’s control, into which WellQuest shall deposit $30,000 by the fifteenth day of each month following the month of services (such amount subject to revision by the mutual written consent of the parties). The primary source of the $30,000 monthly that WellQuest shall dep...

Practice Account means any practice account subject to the terms of this Agreement with RBC DI which you may access from time to time using the Services.

Practice Account means any bank account in the name of and owned by Practice.