Common use of Process for Payment Clause in Contracts

Process for Payment. For personnel costs associated with Services provided hereunder, the Manager agrees to submit to Physicians Care not less frequently than biweekly and not less than three (3) business days prior to the due date for payment thereof, a detailed statement of actual personnel expenses to be incurred for such period by the Manager. Unless objected to by Physicians Care prior to such due date, the Manager may deduct from the Administrative Services Account an amount equal to the personnel costs as set forth in the detailed statement. With respect to all other expenses of the Manager, the Manager agrees to submit to Physicians Care an invoice and a detailed statement of actual expenses on the fifth day of each month for the immediately preceding month. Such detailed statement shall also include a certification of the Chief Financial Officer of the Manager indicating the status of all accounts payable of Physicians Care and the Manager related to Services hereunder, as of the first day of the immediately preceding month, all additions to such accounts payable for such month, and a detailed listing of the accounts actually paid for such month. If not contested by Physicians Care within five (5) business days of receipt hereof, the Manager may deduct from the Administrative Services Account an amount equal to the undisputed amount of such invoice. The Manager shall submit within thirty (30) days of the close of each fiscal year a detailed reconciliation of all costs for Services hereunder, payments made and amounts due. Physicians Care's failure to contest any invoice shall not be deemed a waiver of any rights of Physicians Care to dispute an amount due on annual reconciliation or within the applicable statute of limitations.