Payments to the Practice's Account Sample Clauses

Payments to the Practice's Account. To the extent funds are available, the Business Manager shall be responsible for remitting from the Account to an account to be owned by and held in the Practice's name, separate from the Account, the amounts which the Practice is entitled to receive under Section 3.10(a). Within sixty (60) days of the end of each of the first three (3) fiscal quarters in each fiscal year and within one hundred twenty (120) days of the end of each fiscal year, a settlement process shall be undertaken pursuant to which adjustments, if necessary, shall be made in the total payments to the Practice based upon the financial statements prepared in accordance with Section 3.11(b). Any additional payment due to the Practice will be made within thirty (30) days of the completion of the settlement process. Any reduction in payments to the Practice as the result of such settlement process shall be made by reducing future payments to the Practice, commencing with the month following completion of the settlement process, until such adjustments are made in full. Business Manager and the Practice shall each have signing capacity to withdraw funds from the Practice's account; provided however that Business Manager shall only be entitled to withdraw funds relating to such account in connection with the payment of Practice Expenses and Shareholders' salaries, benefits and payroll taxes. Subject to the foregoing, the Practice hereby grants to Business Manager a special power of attorney and appoints Business Manager as the Practice's true and lawful agent and attorney-in-fact, and Business Manager hereby accepts such special power of attorney and appointment, to sign checks on behalf of the Practice for payments of the Practice Expenses and Shareholders' salaries, benefits and payroll taxes in accordance with this Business Management Agreement. Upon request of Business Manager, the Practice shall execute and deliver to the financial institution wherein the Practice's account is maintained, such additional documents or instruments as may be necessary to evidence or effect the special power of attorney granted to Business Manager by the Practice pursuant to this Section 3.10(b). The special power of attorney granted herein shall be coupled with an interest and shall be irrevocable except with Business Manager's written consent. The irrevocable power of attorney shall expire when this Business Management Agreement has been terminated. If Business Manager assigns this Business Management Agreem...
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