Procedure for Handling Receipts and Operating Capital Sample Clauses

POPULAR SAMPLE Copied 1 times
Procedure for Handling Receipts and Operating Capital. 4.01 BANK DEPOSITS All monies received by Manager for or on behalf of Owner shall be deposited by Manager with the Depository. Manager shall maintain separate accounts for such funds consistent with the system of accounting of the Project. All funds on deposit shall be managed by Manager subject to the terms hereof. All monies of Owner held by Manager pursuant to the terms hereof shall be held by Manager in trust for the benefit of Owner to be held and disbursed as herein provided and shall not, unless Owner otherwise has agreed or directed, be commingled with the funds of any other person, including Manager or any affiliate of Manager. In no event shall Manager be responsible for any loss to amounts on deposit caused by the insolvency or other similar event or occurrence with respect to the Depository.
View SourceView Similar (6)
Procedure for Handling Receipts and Operating Capital. 4.01. BANK DEPOSITS. All monies received by Manager for or on behalf of Owner shall be deposited by Manager with the Depository. Manager shall maintain a separate account for the Project consistent with the system of accounting of the Project, in the name of the Project (the "Operating Account"). All funds on deposit shall be and remain under the control of Manager and Owner, subject to the provisions of this Agreement. Manager shall cause all rents, security deposits (unless by law such security deposits must be retained in a separate account), revenues, issues and profits from the Project to be deposited and maintained in the Operating Account. Any interest earned on the Operating Account shall accrue solely to the benefit of and be paid to Owner. All monies of Owner held by Manager pursuant to the terms of this Agreement shall be held by Manager in trust for the benefit of Owner to be held and disbursed as provided in this Agreement, and shall not, unless Owner otherwise has agreed or directed, be commingled with the funds of any other person, including Manager or any affiliate of Manager.
View SourceView Similar (2)
Procedure for Handling Receipts and Operating Capital. 6.01 BANK DEPOSITS. Agent shall establish and maintain, at cost of Owner, separate bank accounts in the name of the Property, as Agent deems appropriate, into which all monies received by Agent for or on behalf of Owner in connection with the operation and management of the Property shall be deposited by Agent.
View Source
Procedure for Handling Receipts and Operating Capital. 4.1 BANK DEPOSITS All monies received by Manager for or on behalf of Bluerock shall be deposited by Manager with the Depository. Manager shall maintain separate accounts for such funds consistent with the system of accounting of the Project. All funds on deposit shall be managed by Manager subject to the terms hereof. All monies of Bluerock held by Manager pursuant to the terms hereof shall be held by Manager in trust for the benefit of Bluerock to be held and disbursed as herein provided and shall not, unless Bluerock otherwise has agreed or directed, be commingled with the funds of any other person, including Manager or any affiliate of Manager. In no event shall Manager be responsible for any loss to amounts on deposit caused by the insolvency or other similar event or occurrence with respect to the Depository.
View Source
Procedure for Handling Receipts and Operating Capital. 4.01 BANK DEPOSITS All monies received by Manager for, or on behalf of, Owner shall be deposited by Manager with the Depository in one or more accounts under Owner’s name (but with respect to each certain employees of Manager designated by Manager shall, in addition to Owner, have signature authority). Manager shall maintain separate accounts for such funds consistent with the system of accounting of the Project and in accordance with any lender requirements. All funds on deposit shall be managed by Manager subject to the terms hereof. All monies of Owner held by Manager pursuant to the terms hereof shall be held by Manager in trust for the benefit of Owner to be held and disbursed as herein provided. In no event shall Manager be responsible for any loss to amounts on deposit caused by the insolvency or other similar event or occurrence with respect to the Depository.
View Source
Procedure for Handling Receipts and Operating Capital. Subject to the terms and conditions of the Operating Agreement and the Acquisition Loan Documents, all funds relating to the management and operation of the Property shall be administered as follows:
View Source
Procedure for Handling Receipts and Operating Capital. 4.01 BANK DEPOSITS All monies received by Manager for, or on behalf of, Owner shall be deposited by Manager with the Depository. Manager shall maintain separate accounts for such funds consistent with the system of accounting of the Project. All funds on deposit shall be managed by Manager subject to the terms hereof. All monies of Owner held by Manager pursuant to the terms hereof shall be held by Manager in trust for the benefit of Owner to be held and disbursed as herein provided. In no event shall Manager be responsible for any loss to amounts on deposit caused by the insolvency or other similar event or occurrence with respect to the Depository.
View Source
Procedure for Handling Receipts and Operating Capital 
View SourceView Similar (45)

Related to Procedure for Handling Receipts and Operating Capital

  • Project Monitoring Reporting and Evaluation The Recipient shall furnish to the Association each Project Report not later than forty-five (45) days after the end of each calendar semester, covering the calendar semester.

  • Application and Operation 5 PART 2 - DISPUTE RESOLUTION AND CONSULTATION 12

  • Management and Operation of Business Section 7.1 Management 61 Section 7.2 Replacement of Fiduciary Duties 63 Section 7.3 Certificate of Limited Partnership 63 Section 7.4 Restrictions on the General Partner’s Authority 63 Section 7.5 Reimbursement of the General Partner 64 Section 7.6 Outside Activities 65 Section 7.7 Indemnification 65 Section 7.8 Limitation of Liability of Indemnitees 67 Section 7.9 Resolution of Conflicts of Interest; Standards of Conduct and Modification of Duties 68 Section 7.10 Other Matters Concerning the General Partner 70 Section 7.11 Purchase or Sale of Partnership Interests 70 Section 7.12 Registration Rights of the General Partner and its Affiliates 71 Section 7.13 Reliance by Third Parties 73

  • Required Procurement Procedures for Obtaining Goods and Services The Grantee shall provide maximum open competition when procuring goods and services related to the grant- assisted project in accordance with Section 287.057, Florida Statutes.

  • Business and Operations Borrower will continue to engage in the businesses presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Property. Borrower will qualify to do business and will remain in good standing under the laws of each jurisdiction as and to the extent the same are required for the ownership, maintenance, management and operation of the Property.