Common use of Interim Security Deposit Establishment Clause in Contracts

Interim Security Deposit Establishment. Upon the occurrence of a Triggering Event and in the event that Medical Group has not established, a Letter of Credit within thirty (30) days of PacifiCare’s notice and as required by this Section, PacifiCare may begin deducting six (6%) of Medical Group’s monthly Standard Service Capitation Payment, up to the amount, as defined in Paragraph (b) above, for the purpose of establishing a security deposit (also a “Security Deposit” hereunder). PacifiCare shall pay Medical Group the Security Deposit upon the earlier of (i) PacifiCare’s receipt of the fully funded Letter of Credit, or (ii) all of Medical Group’s financial obligations have been satisfied and this Agreement has been terminated.

Interim Security Deposit Establishment. Upon the occurrence of a Triggering Event and in the event that Medical Group has not established, established a Letter of Credit within thirty (30) days of PacifiCare’s notice and as required by this Section, PacifiCare may begin deducting six (6%) of Medical Group’s monthly Standard Service Capitation Payment, up to the amount, as defined in Paragraph (b) above, for the purpose of establishing a security deposit (also a “Security Deposit” hereunder). PacifiCare shall pay Medical Group the Security Deposit upon the earlier of (i) PacifiCare’s receipt of the fully funded Letter of Credit, or (ii) all of Medical Group’s financial obligations have been satisfied and this Agreement has been terminated.

Interim Security Deposit Establishment. Upon the occurrence of a Triggering Event and in the event that Medical Group has not established, established a Letter of Credit within thirty (30) days of PacifiCare’s notice and as required by this Section, PacifiCare may begin deducting six (6%) of Medical Group’s monthly Standard Service Capitation Payment, up to the amount, as defined in Paragraph (b) above, for the purpose of establishing a security deposit (also a “Security Deposit” hereunder). , PacifiCare shall pay Medical Group the Security Deposit upon the earlier of (i) PacifiCare’s receipt of the fully funded Letter of Credit, or (ii) all of Medical Group’s financial obligations have been satisfied and this Agreement has been terminated.