Bank Accounts, Reserve Funds and Permitted Investments Sample Clauses

Bank Accounts, Reserve Funds and Permitted Investments. (a) On or prior to the Commencement Date, Pawnee and Lakes shall execute the Dominion Account Agreement and create the Dominion Account ("Dominion Account") described therein. Gross Gaming Revenues and Gross Ancillary Revenues shall be deposited daily into the Dominion Account, which shall be subject to the lien of the Dominion Account Agreement and established at a commercial bank, of Pawnee's choice, organized under the laws of the United States of America or any state thereof provided such bank is a member of the Federal Deposit Insurance Corporation and has combined capital, undivided profits and surplus of at least $500,000,000. Lakes shall also establish other segregated bank accounts with the approval of Pawnee for the operation of the Project (the "Project Accounts"), which accounts must indicate the custodial nature of the accounts. The signatures of authorized representatives of Lakes shall be the only signatures required to make withdrawals (by check or otherwise) from such accounts for single withdrawals of less than $250,000, provided that the monies withdrawn by Lakes are to be used only for the purposes set forth herein and provided further that if the amount of any single withdrawal exceeds $250,000 (excluding payout and prizes and transfers to any designated payroll accounts, taxes, and purchases of cash for day-to-day operational purposes, or Lakes' compensation under Section 5.5 herein), then the signature of Pawnee's designated representative will also be required.
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Bank Accounts, Reserve Funds and Permitted Investments. (a) Subject to Section 2.8(f), on or prior to the Opening Date, the Tribe, on behalf of itself and the Enterprise, and Manager shall execute the Blocked Account Agreement and establish and activate the Blocked Account(s) described therein. The Tribe, the Enterprise and Manager shall deposit all Gross Revenues daily into the Blocked Account(s) and shall take such actions and execute and deliver such agreements and instructions as shall be necessary or appropriate from time to time to ensure that all Gross Revenues continue to be deposited into the Blocked Account(s). Manager shall also establish other segregated bank accounts with the approval of the Business Board for the operation of the Enterprise (the “Enterprise Accounts”), which accounts must indicate the custodial nature of the accounts. The Blocked Account(s) and the Enterprise Accounts shall be established at such bank as the Business Board and Manager shall agree upon from time to time; provided, however, that such bank shall be organized under the laws of the United States of America or any state thereof; and provided, further, that such bank is a member of the Federal Deposit Insurance Corporation and has combined capital, profits and surplus of at least One Hundred Billion Dollars ($100,000,000,000). The funds in the Blocked Account(s) and the Enterprise Accounts shall be considered to be funds of the Enterprise and shall not be considered to have been distributed to the Tribe or to be available to the Tribe to be used for purposes unrelated to the Enterprise.
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Bank Accounts, Reserve Funds and Permitted Investments. (a) Subject to the terms of the Control Agreements, the Enterprise shall create an account or accounts at a commercial bank that is organized under the laws of the United States of America or any state thereof, and is a member of the Federal Deposit Insurance Corporation. Manager shall deposit, or cause to be deposited, daily all revenues into such accounts The Manager, with the approval of the Enterprise, shall also establish other segregated bank accounts for use in connection with the operation of the Casino Facilities (collectively, the “Project Accounts”), each of which must indicate the custodial nature of the accounts. The Enterprise shall have the right to control such accounts and to authorize deposits and withdrawals of any size, with regard thereto. The signatures of authorized representatives of the Manager shall be the only signatures required to make withdrawals (by check or otherwise) from such accounts for single withdrawals of less than $100,000.00, provided that the monies withdrawn by the Manager are to be used only in accordance with the Approved Budget and only for the purposes set forth herein. If the amount of any single withdrawal exceeds $100,000 (excluding amounts to be applied to payouts and prizes, transfers to any designated payroll accounts, taxes, cash for day-to-day operational purposes, or Management Fees), then the signature of the Enterprise’s designated representative will also be required.
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Bank Accounts, Reserve Funds and Permitted Investments. (a) During the Pre-Opening Period, the Enterprise shall create two accounts (one, the “General Operating Account” and the other, the “Lottery Facility Account”) at a commercial bank that is organized under the laws of the United States of America or any state thereof, and is a member of the Federal Deposit Insurance Corporation. In addition, the Enterprise shall be responsible to create any other bank accounts required under the Lottery Facility Management Contract. Manager shall deposit, or cause to be deposited, daily all Lottery Facility Gaming Revenue into the Lottery Facility Account and all other income and revenue of every kind resulting from the operation of the Casino into the General Operating Account. The Manager, with the approval of the Enterprise, shall also establish other segregated bank accounts for use in connection with the operation of the Casino (collectively, the “Project Accounts”), each of which must indicate the custodial nature of the accounts. The Enterprise shall have the right to control the General Operating Account, Lottery Facility Account and Project Accounts and to authorize deposits and withdrawals of any size, with regard thereto. The signatures of authorized representatives of the Manager shall be the only signatures required to make withdrawals (by check or otherwise) from the General Operating Account or any Project Account for single withdrawals of less than $500,000, provided that the monies withdrawn by the Manager are to be used only in accordance with the Approved Budget and only for the purposes set forth herein. If the amount of any single withdrawal exceeds $500,000 (excluding amounts to be applied to payouts and prizes, transfers to any designated payroll accounts, taxes, cash for day-to-day operational purposes, or Management Fees), then the signature of the Enterprise’s designated representative will also be required.
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Bank Accounts, Reserve Funds and Permitted Investments. (a) On or prior to the Commencement Date, the Tribe and LKAR shall execute the Dominion Account Agreement and create the dominion Account ("Dominion Account") described therein. Gross Gaming Revenues and Gross Incidental Revenues shall be deposited daily into the Dominion Account, which shall be subject to the lien of the Dominion Account Agreement and established at a commercial bank, of the Tribe's choice, organized under the laws of the United States of America or any state thereof provided such bank is a member of the Federal Deposit Insurance Corporation and has combined capital, undivided profits and surplus of at least $500,000,000. LKAR, through the Enterprise's general manager, shall also establish other segregated bank accounts with the approval of the Tribe for the operation of the Enterprise (the "Enterprise Accounts"), which accounts must indicate the custodial nature of the accounts. The signature of the Enterprise's general manager, (or his designated representative) shall be the only signature required to make withdrawals (by check or otherwise) from such accounts, provided that the monies withdrawn are to be used only for the purposes set forth herein, and provided further that if the amount of any single withdrawal exceeds $250,000 (excluding payout and prizes and transfers to any designated payroll accounts, taxes, and purchases of currency, or LKAR's compensation under Section 6.5 herein), then the signature of the Tribe's designated representative will also be required. Shingle Springs Development/Management Contract 10/13/03 revision
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Bank Accounts, Reserve Funds and Permitted Investments. (a) Gross Gaming and Incidental Revenues shall be deposited daily into one or more segregated bank accounts established in one or more commercial banks, of the Tribe's choice, organized under the laws of the United States of America or any state thereof provided such bank is a member of the Federal Deposit Insurance Corporation. The accounts must indicate the custodial nature of the accounts. The signature of an authorized representative of Manager shall be the only signature required to make withdrawals (by check or otherwise) from such accounts, provided that the monies withdrawn are to be used only for the purposes set forth herein, and provided further that if the amount of any single withdrawal exceeds Two Hundred and Fifty Thousand Dollars ($250,000) (excluding payout and prizes and transfers to any designated payroll accounts, taxes, purchases of currency and budget items already approved), then the signature of the Tribe's designated representative will also be required.
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Related to Bank Accounts, Reserve Funds and Permitted Investments

  • CONCERNING MARGIN ACCOUNTS, SENIOR SECURITY ACCOUNTS, AND COLLATERAL ACCOUNTS 1. The Custodian shall, from time to time, make such deposits to, or withdrawals from, a Senior Security Account as specified in a Certificate received by the Custodian. Such Certificate shall specify the Series for which such deposit or withdrawal is to be made and the amount of cash and/or the amount and kind of Securities specifically allocated to such Series to be deposited in, or withdrawn from, such Senior Security Account for such Series. In the event that the Fund fails to specify in a Certificate the Series, the name of the issuer, the title and the number of shares or the principal amount of any particular Securities to be deposited by the Custodian into, or withdrawn from, a Senior Securities Account, the Custodian shall be under no obligation to make any such deposit or withdrawal and shall so notify the Fund.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Bank Accounts; Investments Capital Contributions, revenues and any other Company funds shall, as directed by Preferred, be deposited by the Company in trading accounts (whether “regulated” or “unregulated”) established in the name of the Company. As provided by Rule 4.20(c) of the Commodity Futures Trading Commission (the “CFTC”), no other funds shall be deposited into the Company’s trading accounts or commingled with Company investments. Funds deposited in the Company’s trading accounts may be withdrawn only to be invested in furtherance of the Company’s purposes, to pay Company debts or obligations or to be distributed to the Members pursuant to this Agreement.

  • Permitted Investments At any time, any one or more of the following obligations and securities:

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Collateral Fund Permitted Investments The Company shall, at the written direction of the Purchaser, invest the funds in the Collateral Fund in Collateral Fund Permitted Investments. Such direction shall not be changed more frequently than quarterly. In the absence of any direction, the Company shall select such investments in accordance with the definition of Collateral Fund Permitted Investments in its discretion. All income and gain realized from any investment as well as any interest earned on deposits in the Collateral Fund (net of any losses on such investments) and any payments of principal made in respect of any Collateral Fund Permitted Investment shall be deposited in the Collateral Fund upon receipt. All costs and realized losses associated with the purchase and sale of Collateral Fund Permitted Investments shall be borne by the Purchaser and the amount of net realized losses shall be deposited by the Purchaser in the Collateral Fund promptly upon realization. The Company shall periodically (but not more frequently than monthly) distribute to the Purchaser upon request an amount of cash, to the extent cash is available therefore in the Collateral Fund, equal to the amount by which the balance of the Collateral Fund, after giving effect to all other distributions to be made from the Collateral Fund on such date, exceeds the Required Collateral Fund Balance. Any amounts so distributed shall be released from the lien and security interest of this Agreement.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Lien on Deposit Accounts Cash Collateral (i) To further secure the prompt payment and performance of the Obligations, the Borrower and each Guarantor hereby grants to the Administrative Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account and Securities Account of such Borrower or Guarantor, including sums in any blocked, lockbox, sweep or collection account, to the extent such amounts constitute the Property of such Borrower or Guarantor. The Borrower and each Guarantor hereby authorizes and directs each bank or other depository to deliver to the Administrative Agent, upon request, all balances and assets in any Deposit Account or Securities Account maintained for such Borrower or Guarantor, without inquiry into the authority or right of the Administrative Agent to make such request.

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