Common use of Bank Accounts, Notes and Drafts Clause in Contracts

Bank Accounts, Notes and Drafts. (a) All funds not required for the immediate needs of the Company shall be placed in Permitted Investments, which investments shall have a maturity appropriate for the anticipated cash flow needs of the Company. All Company funds shall be deposited and held in accounts which are separate from all other accounts maintained by the Members and the Administrator, and the Company’s funds shall not be commingled with any funds of any other Person, including the Project Company, any Administrator, any Member or any Affiliate of a Administrator or a Member. (b) The Members acknowledge that the Company may maintain Company funds in accounts, money market funds, certificates of deposit, other liquid assets in excess of the insurance provided by the Federal Deposit Insurance Corporation, or other depository insurance institutions and that neither the Managing Member nor the Administrator nor the Company shall be accountable or liable for any loss of such funds resulting from failure or insolvency of the depository institution, so long as any such maintenance of funds is in compliance with the first sentence of Section 7.3(a). (c) Checks, notes, drafts and other orders for the payment of money shall be signed by such officers of the Company, or the Managing Member, as the Company from time to time may authorize. When the Company so authorizes, the signature of any such Person may be a facsimile.

Bank Accounts, Notes and Drafts. (a) All funds not required for the immediate needs of the Company shall may be placed in Permitted Investments, which investments shall have a maturity appropriate for the anticipated cash flow flows needs of the Company. All Company funds shall be deposited and held in accounts which are separate from all other accounts maintained by the Members and the AdministratorManaging Member, and the Company’s funds shall not be commingled with any other funds of any other Person, including the Project Company, any AdministratorManaging Member, any Member or any Affiliate of a Administrator or a Membertheir Affiliates (other than the Company itself). (b) The Members acknowledge that the Company Managing Member may maintain Company funds in accounts, money market funds, certificates of deposit, other liquid assets Assets in excess of the insurance provided by the Federal Deposit Insurance Corporation, or other depository insurance institutions and that neither the Managing Member nor the Administrator nor the Company shall not be accountable or liable for any loss of such funds resulting from failure or insolvency of the depository institution, so long as any such maintenance of funds is in compliance with the first sentence of Section 7.3(a). (c) Checks, notes, drafts and other orders for the payment of money shall be signed by such officers of the Company, or Persons as the Managing Member, as the Company Member from time to time may authorize. When the Company Managing Member so authorizes, the signature of any such Person may be a facsimile.