Banking Account. Manager shall establish and maintain a separate checking account (the “Account”). All monies deposited from time to time in the Account shall be deemed to be trust funds and shall be and remain the property of Owner and shall be withdrawn and disbursed by Manager for the account of Owner only as expressly permitted by this Agreement for the purposes of performing the obligations of Manager hereunder. No monies collected by Manager on Owner’s behalf shall be commingled with funds of Manager. The Account shall be maintained, and monies shall be deposited therein and withdrawn therefrom, in accordance with the following:
Appears in 8 contracts
Samples: Management Agreement (Industrial Logistics Realty Trust Inc.), Management Agreement (Logistics Property Trust Inc.), Management Agreement (Logistics Property Trust Inc.)
Banking Account. Manager shall establish and maintain a separate checking account (the “"Account”"). All monies deposited from time to time in the Account shall be deemed to be trust funds and shall be and remain the property of Owner and shall be withdrawn and disbursed by Manager for the account of Owner only as expressly permitted by this Agreement for the purposes of performing the obligations of Manager hereunder. No monies collected by Manager on Owner’s 's behalf shall be commingled with funds of Manager. The Account shall be maintained, and monies shall be deposited therein and withdrawn therefrom, in accordance with the following:
Appears in 6 contracts
Samples: Management Agreement (Dividend Capital Total Realty Trust Inc.), Management Agreement (Dividend Capital Total Realty Trust Inc.), Management Agreement (Dividend Capital Inc)
