Drs Clause Samples
The "Drs" clause, short for "debit and credit," is used in contracts to specify how financial adjustments, such as payments or reimbursements, are to be recorded and settled between parties. Typically, this clause outlines the procedures for offsetting amounts owed, detailing how credits for overpayments or debits for underpayments are to be handled in the course of the contractual relationship. By clearly defining these accounting mechanisms, the clause ensures that both parties have a mutual understanding of how financial discrepancies will be managed, thereby reducing the risk of disputes and promoting accurate financial reconciliation.
Drs. The term “
Drs. ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ will waive their dissenters= rights in respect of and will vote their shares in Prime for, the merger between Prime and OptiCare, subject to the percentage ownership of Prime in the combined company at closing being within 1% of 48.755% of the total ownership calculated on a primary basis.
(a) Upon execution of this Agreement, the Parties agree to immediately resume a normal, good faith and financially appropriate working relationship amongst each other. Without limiting the generality of the foregoing, upon the execution of this Agreement that certain Sublease dated March 30, 1999, by, between and among ▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇. ▇. ▇▇▇▇▇▇ and Consolidated Eye Care, Inc., shall be deemed rescinded and shall be void and of no further effect.
(b) The Parties agree with Lender that (i) the monies, released from the ▇▇▇▇ County Superior Court Clerk, will be applied first to the payment of $250,000 to ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇, second to the extent of $1,000,000, to the delivery into escrow of the amount required by Section 2 hereof, third, to the extent of $1,906,797.00, to the payment in full of all past due amounts owed to Lender and legal fees associated herewith, fourth to provide for the working capital and managed care needs of Prime and its subsidiaries, as agreed to by Lender and Prime, and last to the prepayment of the Term Loan owed by Prime to Lender; (ii) all cash received by OECC, PA between the date of the TRO and the date of this Agreement shall be turned over to CEC and deposited in an account designated by Prime; and (iii) all cash received by OECC, PA and CEC shall be deposited in accounts satisfactory to Lender for which, commencing on April 15, 1999, the sole signature rights will be held by ▇▇▇▇▇ ▇▇▇▇▇▇ or ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ or their designees. Prime agrees to provide to Lender, as soon as available but not later than April 30, 1999, a cash flow analysis satisfactory to Lender of the working capital and managed care requirements of Prime and its subsidiaries for the subsequent eight (8) weeks. All cash held by Prime, its subsidiaries or OECC, PA in excess of the reasonable working capital requirements as set forth in the cash flow analysis shall be paid to the Bank on May 6, 1999 and applied to the principal installments of the Term Loan owing to Lender, in the inverse order of maturity.
Drs. ▇▇▇▇▇▇ and ▇▇▇▇ each shall disclose to Licensee and Harvard’s Office of Technology Development in a confidential writing the conception and/or reduction to practice of any Consulting Invention and Joint Invention promptly after he becomes aware thereof. Harvard shall disclose to Licensee in a confidential writing the conception and/or reduction to practice of any Consulting Invention and Joint Invention of which it becomes aware, promptly after its receipt of an invention disclosure form from Drs. ▇▇▇▇▇▇ and/or King.
Drs. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇ shall keep Sponsor informed with regard to all patent related matters, the patent application and maintenance process of licensed Subject Matter. Drs. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇ shall promptly deliver to Sponsor copies of all patent applications, amendments, related correspondence, and other pertinent documents of Licensed Subject Matter.
Drs. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇ will keep accurate scientific records relating to the Research program and will make such records available to Sponsor or its authorized representative throughout the Term of the Agreement (as defined in Section 11) during normal business hours upon reasonable notice.
Drs. The term “DRS” shall have the meaning given in Section 2.10.
Drs. Ankit and Nimta ▇▇▇▇▇▇▇▇▇, representing The Center for Trauma and Joint Replacement, will submit invoices for each case performed (including postoperative patient needs) to host sponsor club committee for review followed by payment .
Drs. ▇▇▇▇ and Niu will create and present the Living Shorelines Decision Tree Model flow charts, that include Shoreline Management Model for Undefended Shorelines, Shoreline Management Model for Shoreline with Existing Bulkheads, and Shoreline Management Model for Shoreline with Existing Revetment, to PPBEP staff.
Drs. Bade▇ ▇▇▇ Shum▇▇'▇ ▇▇▇regate liability under the indemnification provisions is limited to $100,000.
Drs. Ankit and Nimta ▇▇▇▇▇▇▇▇▇, representing The Center for Trauma and Joint Replacement, will submit surgeons permission papers in individual application to MCI for all overseas surgeons and other medical authorities when and where required .