Practice Payroll Account definition

Practice Payroll Account means 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 deposit into the Payroll Account shall be funds transferred from the Practice Account. However, if the Practice Account funds are not sufficient to fund the $30,000 deposit into the Practice Payroll Account, then WellQuest shall advance sufficient funds to fully fund the Practice Payroll Account.
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Practice Payroll Account means 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 deposit into the Payroll Account shall be funds transferred from the Practice Account. However, if the Practice Account funds are not sufficient to fund the $30,000 deposit into the Practice Payroll Account, then WellQuest shall advance sufficient funds to fully fund the Practice Payroll Account. 2.1.15. “Practice Payroll Expenses” shall mean salaries, employee benefits, Practice payroll taxes, education, CME, professional workshops, and other professional expenses of Practice’s Employees. 2.1.16. “Practice Revenues” shall mean (a) all fees and charges actually recorded or booked each month by or on behalf of Practice as a result of professional medical services personally furnished to patients by Physician Shareholder and Practice Employees and other fees or income generated in their capacity as professionals, whether rendered in an inpatient or outpatient setting plus (b) Capitation Revenues. ARTICLE III
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Examples of Practice Payroll Account in a sentence

  • From the funds in the Practice Account, WellQuest shall pay the following: (i) $30,000 by the 15th day of each month following the month of services into the Practice Payroll Account; and (ii) the Practice Expenses.

  • However, if the Practice Account funds are not sufficient to fund the $30,000 deposit into the Practice Payroll Account, then WellQuest shall advance sufficient funds to fully fund the Practice Payroll Account.

Related to Practice Payroll Account

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Participating Account a separate account investing all or a portion of its assets in the Trust, including the Account.

  • Company Account means the bank or/and electronic Account of the Company, and the Company Account in the Processing Center.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Intercompany Account means any receivable, payable or loan between any member of the Ensign Group, on the one hand, and any member of the Pennant Group, on the other hand, that exists prior to the Effective Time and is reflected in the records of the relevant members of the Ensign Group and the Pennant Group, except for any such receivable, payable or loan that arises pursuant to this Agreement or any Ancillary Agreement.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.