Existing Practice definition
Examples of Existing Practice in a sentence
As of the Closing Date all accounts receivable of the Acquired Company (formerly the Existing Practice) have been sold to IOI under separate terms and conditions of Accounts Receivable Bills of Sale and Assignment of even date herewith and the cash proceeds from such sales distributed to Sellers.
Schedule 5.27 lists all hospitals at which each Company Existing Practice has staff privileges and the extent of such privileges.
Solely for purposes of construing Parent's and Merger Sub's obligations under this Section 7.15, if Parent or Merger Sub (or any other FemPartners' subsidiary) fails or refuses to collect that portion of the Excess Advances which exceed the lesser of (i) $12,000 (per physician) or (ii) ten percent (10%) of the net book value of the accounts receivable of the respective Company Existing Practice as of June 30, 1999, then, except for the practices of ▇.▇.
The parties recognize Manager would not have agreed to the amendment of this Agreement to address ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, M.D. ("Girasole") becoming a shareholder in Existing Practice effective January 1, 1999 but for Existing Practice's and Girasole's agreement to comply with all of the terms and conditions relative to such occurrence, including but not limited to maintaining the employment agreement as set forth in Exhibit 11.2-2.
Effective September 22, 1997, Existing Practice and Shareholders entered into a Management Services Agreement with IOI and Manager.