Bank Accounts and Disbursement of Funds Sample Clauses

Bank Accounts and Disbursement of Funds. (a) Management Company agrees to deposit all monies received from the operation of the Project in an account opened in the name of Owner (the “Project Account”) and not to commingle such monies with funds of Management Company. The Project Account shall be subject at all times to the control of Management Company and Owner; provided, however, that Management Company shall have the right to draw checks or funds thereon, including payment by Electronic Fund Transfer (“EFT”) or wire. Management Company shall pay from the Project Account the operating expenses of the Project and other payments relative to the Project that are required or permitted by the terms of this Agreement. Payment for expenses may include reimbursements to Management Company for supplies purchased through vendor accounts maintained by Management Company and payment of compensation due to Management Company or any affiliate who has provided services to the Project.
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Bank Accounts and Disbursement of Funds. Manager shall establish and/or maintain on behalf of and in the name of the applicable Owner one or more bank accounts as may be required by the applicable Owner or the Financing Documents. Subject to availability of adequate funds in such accounts, Manager shall withdraw from such accounts such funds as may be necessary to pay such Owner’s Operating Disbursements and Direct Reimbursement Expenses in accordance with the Budget.
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Bank Accounts and Disbursement of Funds. Operator shall establish and maintain in the name of Owner one or more bank accounts as may be required or convenient in the reasonable judgment of Operator in connection with the business of Owner relating to the Facility. Operator shall not commingle Owner funds or bank accounts with Operator funds or bank accounts. Operator is authorized to make disbursements and withdrawals from such accounts in order to pay all O&M Costs, including any payments required under any of the Facility Documents and any insurance premiums, accountants’ fees and other professional services fees, taxes, license fees, property taxes or assessments. Operator shall notify Owner of the need to make deposits to and withdrawals from any such accounts and otherwise inform Owner of disbursements of funds which need to be approved or authorized from any such accounts.
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Bank Accounts and Disbursement of Funds. Manager shall --------------------------------------- establish and maintain on behalf of and in the name of Lessee one or more bank accounts as required by the Disbursement Agreement or any other Transaction Document or otherwise as required or convenient in connection with the business of Lessee relating to the Project. Manager shall have the exclusive authority to inform Agent or Lessor, as the case may be, of the need to make deposits to and withdrawals from any such accounts and otherwise to inform Agent or Lessor, as the case may be, of disbursements of funds which need to be approved or authorized from any other accounts of Lessee established or maintained in connection with any of the Transaction Documents in order to pay all of Lessee's operating and other expenses, including any payments required under any of the Transaction Documents and any insurance premiums, accountants' fees and other professional services fees, taxes, license fees, property taxes, assessments or other Lessee expenses. Without limiting the foregoing, Manager also shall have the exclusive authority on behalf of Lessee to furnish Agent or Lessor, as the case may be, with information necessary for such Person to direct payment from any Lessee Account established under the Disbursement Agreement and to act for and on behalf of Lessee in all matters arising under the Disbursement Agreement.
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Bank Accounts and Disbursement of Funds. Subject to the requirements of the Loan Documents, ( i) Manager shall have the authority to provide cash management services for Owners and to make deposits to and withdrawals from any of the Owners’ Accounts and Local Accounts in order to pay all of such Owner’s operating and other expenses, including, without limitation, any payments required under any of the Project Documents or the Chapter 11 Cases and any insurance premiums, accountants’ fees, legal fees and other professional services fees, taxes, license fees, property taxes, assessments or other Owner expenses, and (ii) Manager shall administer any escrow arrangements to which the Owners are a party, as well as any letters of credit, bonds or other similar support instruments posted by the Owners relating to the Projects.
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Bank Accounts and Disbursement of Funds. SunEdison shall establish and/or maintain on behalf of and in the name of the applicable Owner one or more bank accounts as may be required by the applicable Owner or the Financing Documents. Subject to availability of adequate funds in such accounts, SunEdison shall withdraw from such accounts such funds as may be necessary to pay such Owner’s Operating Disbursements and Direct Reimbursement Expenses in accordance with the Budget.
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Bank Accounts and Disbursement of Funds. Section 6.1
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Related to Bank Accounts and Disbursement of Funds

  • Disbursement of Funds No later than 1:00 p.m. (local time at the place of funding) on the date specified in each Notice of Borrowing, each Lender will make available its Pro Rata Share of Loans, to fund the Borrowing requested to be made on such date in Dollars, Euro or Sterling, as the case may be, and in immediately available funds, at the Payment Office (for the account of such non-U.S. office of the Administrative Agent as the Administrative Agent may direct in the case of Eurocurrency Loans) and the Administrative Agent will make available to the Borrower at its Payment Office the aggregate of the amounts so made available by the Lenders not later than 2:00 p.m. (local time in the place of payment). Unless the Administrative Agent shall have been notified by any Lender at least one Business Day prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of the Borrowing to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing and the Administrative Agent may, but shall not be required to, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender on the date of Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower and, if so notified, the Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to the rate for Base Rate Loans or Eurocurrency Loans, applicable to the Type of Loan to which such corresponding amount related, for the period in question; provided, however, that any interest paid to the Administrative Agent in respect of such corresponding amount shall be credited against interest payable by the Borrower to such Lender under Section 3.1 in respect of such corresponding amount. Any amount due hereunder to the Administrative Agent from any Lender which is not paid when due shall bear interest payable by such Lender, from the date due until the date paid, at the Federal Funds Rate for amounts in Dollars (and at the Administrative Agent’s cost of funds for amounts in Euros or Sterling or any other Alternative Currency) for the first three days after the date such amount is due and thereafter at the Federal Funds Rate (or such cost of funds rate) plus 1%, together with the Administrative Agent’s standard interbank processing fee. Further, such Lender shall be deemed to have assigned any and all payments made of principal and interest on its Loans, amounts due with respect to its Letters of Credit (or its participations therein) and any other amounts due to it hereunder first to the Administrative Agent to fund any outstanding Loans made available on behalf of such Lender by the Administrative Agent pursuant to this Section 2.7 until such Loans have been funded (as a result of such assignment or otherwise) and then to fund Loans of all Lenders other than such Lender until each Lender has outstanding Loans equal to its Pro Rata Share of all Loans (as a result of such assignment or otherwise). Such Lender shall not have recourse against the Borrower with respect to any amounts paid to the Administrative Agent or any Lender with respect to the preceding sentence; provided, that such Lender shall have full recourse against the Borrower to the extent of the amount of such Loans such Lender has been deemed to have made pursuant to the preceding sentence. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment hereunder or to prejudice any rights which the Borrower may have against the Lender as a result of any default by such Lender hereunder.

  • Costs and Disbursements (a) Except as otherwise provided in this Agreement, a Recipient of Services shall pay to the Provider of such Services a monthly fee for the Services (or category of Services, as applicable) (each fee constituting a “Service Charge” and, collectively, “Service Charges”) as listed on the Schedules hereto.

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