Agency Account. An Agency Account is an account to which funds may be deposited and withdrawals made by an Agent designated by the owner of the funds. An Agent has full authority with regard to the Account but does not have an ownership interest in the account. An Agency Account is revocable at any time by notifying us in writing. An Agency designation may be combined with one of the other forms of account ownership.
Agency Account. (S) shall mean any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1. 13.3 AGENT(S) shall have the meaning set forth in the last sentence of Section 6.
Agency Account. An account to which funds may be deposited and from which payments may be made by an agent designated by a depositor. In the event there is more than one depositor named on an account, each depositor may designate the same or a different agent for the purpose of depositing to or making payments of funds from a depositor’s account.
Agency Account. In order to provide Transaction processing services, FORTE may need to establish one (1) or more service accounts on AGENCY’s behalf or require AGENCY to establish a service account with a third-party provider sub-contracting with FORTE.
Agency Account. (s) shall mean any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.
Agency Account. All monies received by Manager in the operation of the Hotel, including the Operating Funds furnished by Owner, shall be deposited in accounts (collectively, the “Agency Account”) in Manager’s name, as agent of Owner, in the bank or similar institution recommended by Manager. Such monies shall not be commingled with any other funds of Manager. Withdrawals from the Agency Account shall be made only by authorized representatives of Manager, on the condition that such representatives of Manager are bonded or otherwise insured. All payments made by Manager under this Agreement shall be made from the Agency Account.
Agency Account. An Agency Account is an Account to which funds may be deposited and withdrawn by an agent designated by the owner of the Account. If you are the agent, then you have the full authority over the Account, except that the agent may not pledge or otherwise create a security interest in the Account. In addition, you will not have an ownership interest in the Account. On death of the Account owner, ownership of the Account passes as part of the Account owner’s estate by will or by intestacy. The owner of an Agency Account may revoke the agent’s authority over the Account at any time by notifying us in writing. We will not be liable for any actions of the agent until we have received either notice of the Account owner’s death, or written notification that the Account owner has revoked the agent’s authority, and have had reasonable time to act on such notice. An Agency Account designation may be combined with one of the other forms of Account ownership, except that it may not be combined with a convenience signer Account. We reserve the right to verify that any transaction carried out by an agent with the owner(s) of the Account.
Agency Account. See §9.17.
Agency Account. (a) All monies received by Manager in the operation of the Facilities, including the Operating Funds (defined below) furnished by Opco, shall be deposited in a special account or accounts, including credit card and payroll accounts (collectively called the "Agency Account"), in the Manager's name, as agent of Opco, in the bank or trust company recommended by Manager and approved by Opco. Such monies shall not be commingled with Manager's other funds. Out of the Agency Account, Manager shall pay all operating expenses of the Facilities to the extent included in Total Operating Expenses in accordance with the provisions of this Agreement. Withdrawals from accounts established pursuant to this Article VII shall be signed by representatives of the Manager only, provided such representatives are bonded or otherwise insured, and Manager shall supply Opco with bonds or other insurance upon Opco's request unless said bond or other insurance shall have been placed by Opco and delivered directly by the bonding or insurance company to Opco.
(b) Manager will maintain the Agency Account on Opco's behalf and all funds received from the operation of the Facilities will be and remain the property of Opco and will be disbursed by Manager only as set forth in this Agreement. Any and all expenses of the Facilities which are included in Total Operating Expenses paid by Manager must pass through the Agency Account. Opco shall have the right from time to time to direct Manager to change either the depository bank or the depository arrangements and Manager shall implement such changes promptly. Opco shall have the right to approve and to maintain control of signature cards for the Agency Account; provided, however, Opco shall not withdraw funds from such accounts except as provided below.
(c) Manager hereby acknowledges that Propco is entering into the Loan Documents on the date hereof and pursuant to the provisions of the Loan Documents and the Ground Lease has required Opco to agree to certain cash collection and disbursement procedures in connection with the Facilities and Manager, Propco, Mortgagee and Opco have entered into the Cash Management Agreement as of the date hereof in order to reflect those cash collection and disbursement procedures. Manager hereby agrees that notwithstanding the foregoing provisions of this Section 7.1, Manager shall abide by the terms of the Cash Management Agreement and deposit all funds received by Manager in connection with the operation of ...
Agency Account. 64 8.14. Business Activities...........................................................................65 8.15. Changes Relating to Term Loan Documents.......................................................65
