Payroll Account. Manager may establish one or more separate bank accounts for handling payroll costs in the name of Lessee. Such accounts shall be in a bank selected by Lessee, and shall be handled exclusively by the individuals designated by Manager and approved in writing by Lessee. Funds shall be deposited in the payroll account or accounts from the Operating Account, as needed, in order to meet payroll requirements.
Appears in 3 contracts
Sources: Hotel Master Management Agreement (MHI Hospitality CORP), Hotel Master Management Agreement, Hotel Master Management Agreement (MHI Hospitality CORP)