Operations Account Sample Clauses

The Operations Account clause establishes a dedicated bank account used exclusively for managing the financial transactions related to the operation of a specific project or asset. Typically, all revenues generated and expenses incurred in connection with the operations are deposited into and paid from this account, ensuring a clear separation from other funds. This clause is essential for maintaining transparency, facilitating accurate accounting, and preventing the commingling of funds, thereby simplifying financial oversight and reporting for all parties involved.
Operations Account. (a) Payments in (i) EDC WGQ must ensure that, on each Waterfall Date, it will transfer the relevant amounts (if any) into the Operations Account (WGQ) pursuant to Clause 18.7(c)(ii).
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Operations Account. The parties agree that an operations account for the lottery will be established at a bank in Phnom Penh with the account to be registered under the name of LUCKY WIN WIN CAMBODIA, INC. (LUCKY WIN WIN). It is agreed that this the sole purpose and use of the corporate name of LUCKY WIN WIN is to provide a vehicle by which funds collected from the sale of lottery tickets can be deposited and subsequently disbursed by WIN WIN. It is agreed too that the aforementioned lottery license will remain under the control of GOLDEN WIN WIN and will not be transferred to LUCKY WIN WIN. Disbursements from this operational account will only be effected by WIN WIN after providing GOLDEN WIN WIN with a full accounting of income and expenses prior to said distribution.
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Operations Account. SMG shall deposit any funds derived from RAP’s Greek Theatre OPEN VENUE MODEL operations to the Operations Account. CITY’s staff will transfer funds from the Operations Account to the Disbursement Account as needed to pay for Greek Theatre operational expenses. SMG shall have no disbursement authority on the Operations Account.
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Operations Account. − The balance as of September 30, 2022 was $175 thousand. CSCDA staff and League accounting personnel are available to respond to any questions the Commissioners may have about the attached FY 2022-23 Q1 financial reports. Issuance fees Qualified 501 (c)(3) 313,015 250,000 55,000 22.00% PACE 2,483,154 3,000,000 1,036,624 34.55% SCIP / ▇▇▇▇▇ ▇▇▇▇ 1,720,625 1,800,000 596,375 33.13% Other municipal bond programs 203,127 50,000 10,000 20.00% Investment income 959 0 3,315 Total issuance fees 5,611,699 5,600,000 1,820,063 32.50% Bond administrative fees Qualified 501 (c)(3) 1,626,085 1,500,000 274,781 18.32% SCIP / ▇▇▇▇▇ ▇▇▇▇ 691,728 725,000 389,683 53.75% Other municipal bond programs 153,140 75,000 31,639 42.19% Investment income (166,902) 0 (76,897) Total bond administrative fees 8,790,349 8,300,000 2,076,376 25.02% Total additions 14,402,047 13,900,000 3,896,439 28.03% Program management fees - BSP 2,826,521 2,746,000 880,057 32.05% Program governance fees - CSAC 1,392,109 1,427,000 468,345 32.82% Program governance fees - League 1,392,109 1,427,000 468,345 32.82% Total issuance 5,610,740 5,600,000 1,816,747 32.44% Bond administration Program administration fees - BSP 1,173,548 1,100,000 313,448 28.50% Compliance/portfolio monitoring fees - BSP 569,327 550,000 109,998 20.00% Prior administration fees - HB Capital 3,374,989 2,790,000 765,816 27.45% Program governance fees - CSAC 1,622,238 1,590,000 408,405 25.69% Program governance fees - League 1,622,238 1,590,000 408,405 25.69% Compliance fees - Urban Futures 184,750 175,000 47,407 27.09% Total bond administration 8,547,091 7,795,000 2,053,479 26.34% Subtotal Issuance & Bond Administration 14,157,831 13,395,000 3,870,226 28.89% Actual Budget YTD Variance 2021-22 2022-23 2022-23 2022-23 General administrative Executive Director 60,600 72,000 16,256 22.58% General Counsel - ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 108,964 125,000 35,505 28.40% Insurance 32,372 35,000 400 1.14% Board travel reimbursements 1,591 2,000 387 19.35% Issuer counsel - ▇▇▇▇▇▇ 75,000 100,000 50,000 50.00% Auditor - MUN CPAs 15,900 20,000 0 0.00% Other professional services 3,876 5,000 0 0.00% BSP municipal advisor fee 24,000 24,000 6,000 25.00% Bank service fees 4,725 7,000 1,575 22.50% Marketing and Sponsorships 52,564 50,000 10,000 20.00% Annual meeting 55,877 60,000 13,082 21.80% Other 40,108 5,000 757 15.14% Total general administrative 475,577 505,000 133,962 26.53% Total deductions 14,633,408 13,900,000 4,004,188 28.81% Net surplus (deficit) (231...
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Operations Account. An “Operations Account,” the funds of which shall be used to pay the expenses incidental to the operation and maintenance of the Property, as set forth in this Agreement and as further requested by the Series Entity, including without limitation, payment of Manager’s compensation, mortgage expenses, personnel expenses, insurance, security deposits, taxes and leasing commissions payable by the Series Entity as provided for hereunder. Manager will maintain on deposit a minimum of one month of Property expenses. Manager shall keep security deposits received from tenants separate from the Operations Account in a “Security Deposit Account.”
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Related to Operations Account

  • Income Account The Trustee shall collect the dividends and other cash distributions on the Securities in each Trust which would be treated as dividend (other than capital gain dividends) or interest income under the Internal Revenue Code as such become payable (including all monies which would be so treated representing penalties for the failure to make timely payments on the Securities, or as liquidated damages for default or breach of any condition or term of the Securities or of the underlying instrument relating to any Securities and other income attributable to a Failed Contract Obligation for which no Replacement Security has been obtained pursuant to Section 3.12 hereof) and credit such income to a separate account for each Trust to be known as the "Income Account." Any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account. Except as provided in the preceding sentence, non-cash distributions received by a Trust (other than a non-taxable distribution of the shares of the distributing corporation which shall be retained by a Trust) shall be dealt with in the manner described in Section 3.11, herein, and shall be retained or disposed of by such Trust according to those provisions and the proceeds thereof shall be credited to the Capital (Principal) Account. Neither the Trustee nor the Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. All other distributions received by a Trust shall be credited to the Capital (Principal) Account."

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Business Accounts If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to: • enter into this Agreement, as amended from time to time; • access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and • use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

  • Revenue Account The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Revenue Account” (account number ▇▇▇▇▇▇▇) (the “Revenue Account”). Except as otherwise set forth in this Agreement, the Borrower shall (and the Borrower shall cause each Project Company to) deposit in the Revenue Account all cash amounts held by or paid to the Borrower (and each Project Company), including without limitation, (i) any and all distributions and other payments to which the Borrower is entitled under the Borrower LLC Agreement, (ii) all Project Revenues paid to the Borrower or any Project Company under any Project Documents or otherwise, (iii) all proceeds of any equity contribution funded by all Affiliated Participants, (iv) all proceeds of any business interruption insurance received by the Borrower or any Project Company or otherwise in respect of the Projects, and (v) transfers from other Collateral Accounts in accordance with this Section 6; provided, however, that (x) all Government Grant proceeds received from the Governmental Authority shall be deposited in the Government Grant Proceeds Account pursuant to Section 6(g), (y) all proceeds of insurance (other than proceeds of business interruption insurance) shall be deposited in the Loss Proceeds Account pursuant to Section 6(f), and (z) all proceeds paid to the Borrower or any Project Company related to the Permitted Transmission Line Transfer shall be deposited in the Gen Lead Account pursuant to Section 6(j). So long as no Event of Default has occurred and is continuing or will occur upon giving effect to the application described below, funds in the Revenue Account shall be applied by internal account transfer by the Securities Intermediary at the direction of the Security Agent and the Borrower, in each case at the following times and in the following order of priority: