Common use of Insurer Payment Mechanics Clause in Contracts

Insurer Payment Mechanics. (a) On or prior to the Initial Transfer Date, each of the Primary Servicer, the Originators, the Company, the Lender, and the Collecting Bank shall have entered into the Depositary Agreement and shall have caused the Collecting Bank to establish the Company Lockbox and the Company Lockbox Account. (b) On or prior to the Initial Transfer Date, each Originator shall prepare, execute and deliver to each Designated Obligor who is an Insurer, with copies to the Company and the Agent, a Notice to Insurers addressed to each such Insurer, which Notice to Insurers shall state that all present and future Accounts owing to such Originator have been and will be transferred to the Company and that all checks and EOB's from such Insurer on account of Accounts shall be sent to the Company Lockbox and all wire transfers from such Insurer on account of Accounts shall be wired directly into the Company Lockbox Account. (c) Each Originator covenants and agrees that, on and after the Initial Transfer Date, all invoices (and return envelopes, if provided by such Originator) that are sent to Designated Obligors who are Insurers shall set forth only the address of the Company Lockbox as a return address for payment of Accounts and delivery of EOB's, and only the Company Lockbox Account with respect to wire transfers for payment of Accounts. Each Originator hereby further covenants and agrees to instruct and notify each of the members of its accounting and collections staff to provide identical information in communications with Insurers with respect to Collections, wire transfers and EOB's.

Insurer Payment Mechanics. (a) On or prior to the Initial Transfer Purchase Date, each of the Primary Servicer, the Originators, the Company, the Lender, Provider and the Collecting Bank Purchaser shall have entered into the Depositary Agreement and shall have caused the Collecting Lockbox Bank to establish the Company Purchaser Lockbox and the Company Purchaser Lockbox Account. (b) On or prior to the Initial Transfer Date, each Originator . The Provider shall prepare, execute and deliver on or prior to the Initial Purchase Date to each Insurer who becomes an Obligor of Designated Obligor who is an InsurerReceivables from time to time, with copies to the Company and the AgentPurchaser, a Notice Notices to Insurers addressed to each such Insurer, which Notice to Insurers shall state that all present and future Accounts owing to such Originator have been and will be transferred to the Company and provide that all checks and EOB's from such Insurer Insurers on account of Accounts Receivables shall be sent to the Company Purchaser Lockbox and all wire transfers from such Insurer on account of Accounts Eligible Receivables shall be wired directly into the Company Purchaser Lockbox Account. (cb) Each Originator covenants and agrees that, on On and after the Initial Transfer Purchase Date, the Provider shall cause all invoices that are sent to Insurers who are qualified to be Obligors of Designated Receivables from time to time (and return envelopes, if provided by such Originatorthe Provider) that are sent to Designated Obligors who are Insurers shall set forth only the address of the Company Purchaser Lockbox as a return address for payment of Accounts Receivables and delivery of EOB's, and only the Company Purchaser Lockbox Account with respect to wire transfers for payment of AccountsReceivables. Each Originator The Provider hereby further covenants and agrees to instruct and notify each of the members of its the Provider's accounting and collections staff to provide identical information in communications with such Insurers with respect to Collections, wire transfers and EOB's.