LENDER, ALL IN FORM AND SUBSTANCE SATISFACTORY TO LENDER,
SUCH INITIAL TERM SHALL BE AUTOMATICALLY EXTENDED TO JANUARY 31, 2011.
ALL
REVOLVING LOANS SHALL BE REPAID ON OR BEFORE THE EARLIER OF THE LAST DAY OF THE
INITIAL TERM OR UPON TERMINATION OF THE CREDIT FACILITY OR TERMINATION OF THIS
AGREEMENT ("MATURITY DATE").
AFTER THE MATURITY DATE NO FURTHER REVOLVING LOANS
SHALL BE AVAILABLE FROM LENDER.
(E)
FROM TIME TO TIME, UPON NOT LESS THAN THREE (3) BUSINESS DAYS
NOTICE TO BORROWERS, LENDER MAY ADJUST THE ADVANCE RATE IN ORDER TO REFLECT, IN
LENDER'S REASONABLE JUDGMENT, THE EXPERIENCE WITH BORROWERS (INCLUDING BY WAY OF
ILLUSTRATION, TO ADJUST FOR ANY KNOWN OR POTENTIAL OFFSETS BY MEDICARE OR
MEDICAID) OR THE AGGREGATE AMOUNT OR PERCENTAGE OF THE COLLECTIONS WITH RESPECT
TO THE ACCOUNTS.
2
2.02
FUNDING PROCEDURES.
(A)
SUBJECT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT AND SO LONG
AS NO EVENT OF DEFAULT OR UNMATURED EVENT OF DEFAULT HAS OCCURRED AND IS
CONTINUING HEREUNDER, LENDER WILL MAKE REVOLVING LOANS TO BORROWERS UPON
REQUEST. BORROWERS SHALL PROVIDE LENDER WITH A SIGNED BORROWING BASE CERTIFICATE
ON A SPECIFIED BUSINESS DAY OF EACH WEEK (SUCH DAY TO BE MUTUALLY AGREEABLE TO
BORROWERS AND LENDER (SUCH DATE SHALL BE REFERRED TO HEREIN AS THE "SETTLEMENT
DATE", WHETHER OR NOT BORROWERS HAVE REQUESTED A REVOLVING LOAN TO BE MADE ON
SUCH DATE)). BORROWERS MAY REQUEST A REVOLVING LOAN ON THE SETTLEMENT DATE OR
ANY OTHER DAY OF THE WEEK (SUCH DAY ALONG WITH THE SETTLEMENT DATE ARE REFERRED
TO HEREIN AS THE "FUNDING DATE").
WHETHER OR NOT BORROWERS HAVE REQUESTED A
REVOLVING LOAN TO BE MADE ON SUCH DATE, LENDER MAY AT ANY TIME DEDUCT FROM THE
BORROWING BASE AN AMOUNT EQUAL TO ALL FEES, EXPENSES, PRINCIPAL, INTEREST OR
OTHER AMOUNTS DUE AND PAYABLE TO LENDER HEREUNDER, AND SUCH DEDUCTION SHALL BE
DEEMED TO BE A REVOLVING LOAN AND AN ADVANCE HEREUNDER.
(B)
NOT LATER THAN 11:00 A.M. (EASTERN TIME) TWO (2) BUSINESS DAYS
PRIOR TO EACH SETTLEMENT DATE ("DOWNLOAD DATE"), BORROWERS WILL DELIVER TO
LENDER THE COMPUTER FILE DATA ASSOCIATED WITH THE ACCOUNTS, WHICH SHALL INCLUDE
WITHOUT LIMITATION, THE INFORMATION (INCLUDING CHANGES IN THE OBLIGOR
REIMBURSEMENT RATES AND CHANGES IN FEDERAL OR STATE LAWS OR REGULATIONS
AFFECTING PAYMENT FOR MEDICAL SERVICES), REQUIRED BY LENDER TO ENABLE LENDER TO
PROCESS AND VALUE THE OUTSTANDING ACCOUNTS OF BORROWERS, AS WELL AS BILL AND
COLLECT SUCH ACCOUNTS FOLLOWING AN EVENT OF DEFAULT ("ACCOUNTS DETAIL FILE").
UPON COMPLETION OF THE PROCESSING OF THE DATA WITH RESPECT TO SUCH ACCOUNTS,
LENDER OR ITS AGENT WILL PREPARE AND DELIVER TO BORROWERS BY NO LATER THAN
10:00 A.M. (EASTERN TIME) ON THE SECOND BUSINESS DAY FOLLOWING THE DOWNLOAD DATE
(OR IF SUCH ACCOUNTS DETAIL FILE IS NOT DELIVERED UNTIL AFTER 1:00 P.M. (EASTERN
TIME) ON THE DOWNLOAD DATE, THE THIRD BUSINESS DAY FOLLOWING THE DOWNLOAD DATE),
A REPORT REGARDING THE BORROWING BASE THEN IN EFFECT, WHICH SHALL BE
SUBSTANTIALLY IN THE FORM OF EXHIBIT 2.02(B) HERETO (A "BORROWING BASE REPORT").