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Assignment of proceeds |
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Assignment of proceeds Arrangement that allows the original beneficiary of a letter of credit to pledge or turn over proceeds to another, typically end supplier. |
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| The $500,000 balloon payment due January 15, 2006, pursuant to the vendor take back mortgage on the Beiseker facility acquisition was satisfied by the provision of an irrevocable assignment of proceeds on a real estate sale which is scheduled to close January 23, 2006. ResCare Premier is an in-network provider for many national and regional healthcare insurance companies, Workers' Compensation insurers, and, on a limited basis, will enter into Security and Assignment of Proceeds Agreements. Sales are principally made to qualified Medicare and private insurance beneficiaries through which the company accepts assignment of proceeds from Medicare and so-called Medigap and supplementary Insurance companies. |
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Assignment of proceeds