Use of Operating Account Sample Clauses

Use of Operating Account. CCP shall draw upon each Project Participant’s Operating Account each month in an amount equal to the Monthly Costs multiplied by such Project Participant’s Entitlement Share. As required by Section 9.5, each Project Participant must deposit sufficient funds into such Project Participant’s Operating Account by the deadline specified in Section 9.5.
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Use of Operating Account. To the extent there are adequate funds available therein, the Operating Account shall be used to pay any and all direct or indirect expenses or Reimbursable Costs (as defined in Schedule 7. 1) of the Owner relative to the operation of the Center. This shall include, without limitation, those costs and expenses incurred by Consultant on behalf of Owner hereunder and those costs and expenses incurred by Manager on behalf of Owner as set forth in the Management Agreement, in each case to the extent authorized herein and therein. The right of Consultant to withdraw funds from the Operating Account for the purposes set forth herein is a material inducement to Consultant to enter into this Agreement, and is a material factor in Consultant's ability to perform hereunder. Therefore, Manager and Owner hereby each agree that, until the termination of this Agreement as set forth herein, appropriate representatives of Consultant shall have authority to withdraw funds from the Operating Account for the payment of such direct expenses and Reimbursable Costs, and Manager and Consultant agree to coordinate with each other and keep each other reasonably informed with respect to their activities relative to the Operating Account. Consultant hereby acknowledges and agrees that Manager, pursuant to the Management Agreement, and Owner shall also have concurrent authority to withdraw funds from the Operating Account for similar purposes.
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Use of Operating Account. To the extent there are adequate funds' available therein, the Operating Account shall be used to pay any and all direct or indirect expenses or Reimbursable Costs (as defined in Schedule 7.1) of Owner relative to the operation of the Center. This shall include, without limitation, those costs and expenses incurred by Manager on behalf of Owner hereunder to the extent authorized herein. The right of Manager to withdraw funds from the Operating Account for the purposes set forth herein IS a material inducement to Manager to enter into this Agreement, and is a material factor in Manager's ability to perform hereunder.
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Related to Use of Operating Account

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Statement of Operations Statement of Changes in Net Assets.

  • Hours of Operation You can access automated account information through the Service 7 days a week, 24 hours a day. There may be times, however, when all or part of the Service is unavailable due to system outages or maintenance. We assume no responsibility for any damage or delay that may result from such unavailability.

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.