Common use of Bank Accounts; Disbursement of Funds Clause in Contracts

Bank Accounts; Disbursement of Funds. (a) Subject to the terms and conditions of this Agreement and applicable Gaming Laws, all funds received from operation of the Managed Properties and all sums advanced by Owner for purposes other than Capital Improvements and Replacements shall be deposited in the Operating Bank Accounts. Withdrawals from the Operating Bank Accounts shall be made by representatives of Manager whose signatures have been authorized by both Manager and Owner; provided, however, Manager’s signing authority shall be limited solely to the specified purposes designated in writing by Owner and Manager and, provided further, Owner shall have the right to rescind, from time to time, in its sole and absolute discretion, the representatives holding such signing authority so long as Manager can appoint a replacement representative simultaneously therewith. Manager shall be entitled to maintain at each of the Managed Properties (i) the Cage Cash Minimum Balance; and (ii) reasonable change and xxxxx cash funds in amounts consistent with the Approved Annual Plan and Operating Budget. With respect to each Fiscal Month, Manager shall, on behalf of Owner, disburse funds from the Operating Bank Accounts in the order of priority and to the extent available in accordance with the Disbursement Priority Schedule set forth on Exhibit “D” with any and all amounts remaining in the Operating Bank Accounts following such disbursements being promptly swept to the Owner Account. (b) All payments made by Manager hereunder shall be made from authorized Bank Accounts or xxxxx cash funds. Manager shall not be required to make any advance or payment to or for the account of Owner except out of such funds, and Manager shall not be obligated to incur any liability or obligation for Owner’s account without sufficient assurances (as reasonably determined by Manager) that necessary funds for the discharge thereof will be provided by Owner. The Management Fees, Reimbursable Expenses and/or other amounts payable by Owner to Manager under this Agreement shall be promptly paid by Owner to the extent funds are not available for that purpose from the operation of the Managed Properties.

Bank Accounts; Disbursement of Funds. (a) Subject to the terms and conditions of this Agreement and applicable Gaming Laws, all funds received from operation of the Managed Properties and all sums advanced by Owner for purposes other than Capital Improvements and Replacements shall be deposited in the Operating Bank Accounts. Withdrawals from the Operating Bank Accounts shall be made by representatives of Manager whose signatures have been authorized by both Manager and Owner; provided, however, Manager’s signing authority shall be limited solely to the specified purposes designated in writing by Owner and Manager and, provided further, Owner shall have the right to rescind, from time to time, in its sole and absolute discretion, the representatives holding such signing authority so long as Manager can appoint a replacement representative simultaneously therewith. Manager shall be entitled to maintain at each of the Managed Properties (i) the Cage Cash Minimum Balance; and (ii) reasonable change and xxxxx cash funds in amounts consistent with the Approved Annual Plan and Operating Budget. With respect to each Fiscal Month, Manager shall, on behalf of Owner, disburse funds from the Operating Bank Accounts in the order of priority and to the extent available in accordance with the Disbursement Priority Schedule set forth on Exhibit “DA” with any and all amounts remaining in the Operating Bank Accounts following such disbursements being promptly swept to the Owner Account. (b) All payments made by Manager hereunder shall be made from authorized Bank Accounts or xxxxx cash funds. Manager shall not be required to make any advance or payment to or for the account of Owner except out of such funds, and Manager shall not be obligated to incur any liability or obligation for Owner’s account without sufficient assurances (as reasonably determined by Manager) that necessary funds for the discharge thereof will be provided by Owner. The Management Fees, Reimbursable Expenses and/or other amounts payable by Owner to Manager under this Agreement shall be promptly paid by Owner to the extent funds are not available for that purpose from the operation of the Managed Properties.

Bank Accounts; Disbursement of Funds. (a) Subject to the terms and conditions of this Agreement and applicable Gaming Laws, all funds received from operation of the Managed Properties Property and all sums advanced by Owner for purposes other than Capital Improvements and Replacements shall be deposited in the Operating Bank AccountsAccount. Withdrawals from the Operating Bank Accounts Account shall be made by representatives of Manager whose signatures have been authorized by both Manager and Owner; provided, however, Manager’s signing authority shall be limited solely to the specified purposes designated in writing by Owner and Manager and, provided further, Owner shall have the right to rescind, from time to time, in its sole and absolute discretion, the representatives holding such signing authority so long as Manager can appoint a replacement representative simultaneously therewith. Manager shall be entitled to maintain at each of the Managed Properties Property (i) the Cage Cash Minimum Balance; and (ii) reasonable change and xxxxx cash funds in amounts consistent with the Approved Annual Plan and Operating Budget. With respect to each Fiscal Month, Manager shall, on behalf of Owner, disburse funds from the Operating Bank Accounts Account in the order of priority and to the extent available in accordance with the Disbursement Priority Schedule set forth on Exhibit “DA” with any and all amounts remaining in the Operating Bank Accounts Account following such disbursements being promptly swept to the Owner Account. (b) All payments made by Manager hereunder shall be made from authorized Bank Accounts or xxxxx cash funds. Manager shall not be required to make any advance or payment to or for the account of Owner except out of such funds, and Manager shall not be obligated to incur any liability or obligation for Owner’s account without sufficient assurances (as reasonably determined by Manager) that necessary funds for the discharge thereof will be provided by Owner. The Management Fees, Reimbursable Expenses and/or other amounts payable by Owner to Manager under this Agreement shall be promptly paid by Owner to the extent funds are not available for that purpose from the operation of the Managed PropertiesProperty.