TOC Operating Account definition

TOC Operating Account means that certain operating account established by TOC at a bank selected by TOC in TOC's sole discretion as more fully described in Section 5.11.
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Examples of TOC Operating Account in a sentence

  • TOC agrees to establish and maintain a bank account, which shall be referred to as the TOC Operating Account, for the purpose of (a) depositing proceeds from the sale of TOC's Accounts Receivable pursuant to Section 8.3 and (b) paying (i) any Service Fees owed pursuant to Article VIII of this Agreement, (ii) expenses which are solely the obligation of TOC (Excluded Expenses), and (iii) compensation or distributions to Physician Owners, and the distributions shall be made in that order of payment.

  • TOC shall have the right to open or create bank accounts in addition to the TOC Operating Account described in Section 5.11 of this Agreement.

  • Company shall pay to TOC for all Accounts Receivable purchased by check, wire transfer or intrabank transfer to the TOC Operating Account described in Section 5.

  • Upon receipt of TOC's service fee, Company shall be required to deposit into the TOC Operating Account described in Section 5.11 an amount of money necessary for TOC to pay the compensation and benefits associated with the Technical Employees and Physician Employees (other than Physician Owners) employed by TOC.

  • TOC shall retain control of the account but shall designate a Company employee as a signatory on the TOC Operating Account.

  • Except for cash proceeds from the collection of Accounts Receivable purchased from TOC by Company, Company shall deposit any cash receipts collected on behalf of TOC into the TOC Operating Account described in Section 5.11.

Related to TOC Operating Account

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

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

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • AAVS Account means the account to which your Automatic Add Value Service is linked, as defined or specified in the relevant Application Form or such other account as notified to us by the Financial Institution or by the AAVS Account Holder from time to time;