Bank Deposits. (a) All monies received by Manager for or on behalf of Owner shall be deposited into the “Depository Account” which shall be an interest bearing account designated by RREM in Owner’s name. Manager shall account for such funds consistent with the system of accounting for the Project approved by Owner. All funds on deposit shall be and remain under the sole and exclusive control of Owner, subject to the provisions hereof.
(b) A “Disbursement Account” shall also be established to pay the normal and reasonable expenses incident to the operation and maintenance of the Project. The Disbursement Account shall be under the signatory control of the Manager.
Bank Deposits. 1.3.1 Prudential will identify in writing, from time to time, the banks to which the Remittances will be processed via Imaged Cash Letter ("ICL").
1.3.2 Prudential will maintain separate agreements with Prudential's bank(s) of choice. Vendor will process Remittances for deposit in accordance with Section 2.10 herein. Prudential will have the option of reviewing, from time to time, its relationship with such banks, and Vendor will cooperate with Prudential in amending its Attachment B-2 to implement such changes in the banking relationships as Prudential may reasonably direct.
Bank Deposits. 2.10.1 In accordance with Attachment E-2, Vendor will make ICL deposits at Prudential's bank(s) of choice in accordance with a schedule mutually agreed upon by the parties in writing. All monetary deposit totals must equal the monetary total included in the daily transmission files sent to Prudential (as defined in Attachment E-2). Vendor must receive written confirmation from the bank(s) that a complete file was received.
Bank Deposits. Interest-bearing negotiable certificates of deposit, interest-bearing time deposits, interest-bearing savings accounts or bankers’ acceptances, issued by a Qualified Financial Institution whose unsecured short-term obligations are rated in the Highest Rating Category. Interest-bearing negotiable certificates of deposit, interest-bearing time deposits or interest-bearing savings accounts, issued by a Qualified Financial Institution, if such deposits or accounts are fully insured by the Federal Deposit Insurance Corporation.
Bank Deposits. No employees shall be required to deliver cash deposits to a bank in excess of $100 unless accompanied by another staff member.
Bank Deposits. All cash held by the Manager for the account of the Authority and all cash collected by the Manager for the account of the Authority after the Closing Date shall be deposited on each business day in bank accounts in such bank as the Authority may direct and upon such terms and conditions as may be specified by the Authority.
Bank Deposits. Under the FDIC Insured Deposit Program your free credit balances will be swept into interest-bearing deposit accounts at up to 12 participating Program Banks, providing eligibility for up to $2.5 million in deposit insurance coverage ($5 million for joint accounts of two or more), subject to applicable limitations. The insurance limit applicable to each insurable capacity will be referred to as the “Maximum Applicable Deposit Insurance Amount.” Xxxxxxxx, as your agent, will deposit the available cash in your account into deposit accounts in each Program Bank on the Priority List up to the deposit limit of $246,500 ($493,000 for joint accounts of two or more) (the “Deposit Limit”) in order to permit your funds to be eligible for the greatest possible FDIC insurance coverage. Once $246,500 ($493,000 for joint accounts of two or more) has been deposited in each Program Bank on the Priority List, and you have reached the Program limit of $2.5 million ($5 million for joint account of two or more), any additional funds will be deposited in designated “Excess Banks” without limit and without regard to maximum available FDIC insurance coverage. The list of “Excess Banks” can be found at the bottom of the Priority List, which can be obtained by visiting the Royal Alliance website at xxx.xxxxxxxxxxxxx.xxx, as mentioned above.
Bank Deposits. Due to the unusual nature of depositing “bank deposits”, no employee who expresses a reluctance to make the deposits will be forced to do so.
Bank Deposits. Agent shall establish and maintain, at cost of Owner, separate bank accounts in the name of the Property, as Agent deems appropriate, into which all monies received by Agent for or on behalf of Owner in connection with the operation and management of the Property shall be deposited by Agent.
Bank Deposits. Each of the Borrowers and the Guarantor covenants that the Lender shall be the principal bank of account and primary depository for each of the Borrowers and the Guarantor.
