Account Classification Clause Samples
The Account Classification clause defines how different types of accounts are categorized within an agreement or system. It typically outlines the criteria or characteristics that distinguish one class of account from another, such as personal versus business accounts, or different tiers based on usage or features. By clearly specifying these classifications, the clause ensures that rights, obligations, and applicable terms are properly assigned to each account type, thereby reducing confusion and supporting consistent administration.
Account Classification. Manager shall adopt a system of classification of accounting entries (Chart of Accounts) reasonably satisfactory to Owner.
Account Classification. Manager shall adopt Owner’s system of classification of accounting entries or provide a means of classification which can be easily translated by Owner to Owner’s requirements.
Account Classification. Manager shall adopt a system of classification of accounts as set forth on Exhibit D.
Account Classification. If requested by Owner, Manager shall adopt or use Owner's accounts, classifications or accounting program.
Account Classification. Manager shall utilize existing accounting and internal auditing systems presently utilized by LLIDA, including books of control and accounts consistent with good accounting procedure, and in accordance with generally accepted accounting principles.
Account Classification. Manager shall use the chart of accounts for the Property provided by Owner, as set forth in Exhibit G, which chart may be amended by Owner from time to time by written notice to Manager.
Account Classification. Each FFELP Loan constitutes an "account" within the meaning of the applicable Uniform Commercial Code.