Common use of Practice Accounts Clause in Contracts

Practice Accounts. Practice shall maintain one or more Practice Accounts, in the name of and under the tax identification number of Practice, at banks selected by Manager. Practice shall take such action as is necessary to maintain Manager's authority to make withdrawals from and deposits into each Practice Account. Practice shall not maintain any bank account for cash deposits that is not a Practice Account for purposes of this Agreement. Practice hereby agrees and acknowledges that Manager will manage the working capital of the Practice, and may sweep working capital of the Practice into Manager Accounts. Notwithstanding the foregoing, or any other provision of this Agreement, Practice and Manager agree that no interest shall be payable from Manager to Practice on such funds.