BUILDING REVENUE ACCOUNT Sample Clauses

BUILDING REVENUE ACCOUNT. All funds collected by Contractor derived from the operation of the Building, including all Gross Monthly Collections, shall be immediately deposited in a bank account designated by Owner (the “Building Revenue Account”). General Contractor may endorse any and all checks drawn to the order of Owner “for deposit only” and deposit them in the Building Revenue Account, but shall have no other authority to endorse or negotiate checks made payable to Owner. The account shall belong solely to Owner, and any interest or other income earned on the assets of the Building Revenue Account shall be redeposited in the Building Revenue Account, and shall be the property of Owner. Owner may designate a different account in any bank or financial institution as the building Revenue Account at any time by written notice to General Contractor. No funds of General Contractor shall be deposited or commingled with the funds in the Building Revenue Account.
Sample 1
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BUILDING REVENUE ACCOUNT. The term “Building Revenue Account” shall have the meaning set forth in Section 7.05.
Sample 1
BUILDING REVENUE ACCOUNT. All funds collected by Property Manager derived from the operation of the Building, including all Gross Monthly Collections shall be immediately deposited in the following Building Revenue Account in accordance with instructions issued by Owner: Property Manager may endorse for deposit only any and all checks drawn to the order of Owner for deposit in the Building Revenue Account. Any interest or other income earned on the assets of the Building Revenue Account shall be redeposited in the Building Revenue Account, and, shall be the property of Owner. Owner may designate a different account in any bank or financial institution as the Building Revenue Account at any time by written notice to Property Manager. No other funds of Property Manager shall be deposited or commingled with funds in the Building Revenue Account.
Sample 1
BUILDING REVENUE ACCOUNT. The term “
Sample 1
BUILDING REVENUE ACCOUNT. All funds collected by General Contractor derived from the operation of the Building, including all Gross Monthly Collections shall be immediately deposited in the following Building Revenue Account in accordance with instructions issued by the Owner: General Contractor may endorse for deposit only any and all checks drawn to the order of Owner for deposit in the Building Revenue Account. Any interest or other income earned on the assets of the Building Revenue Account shall be redeposited in the Building Revenue Account, and shall be the property of Owner. Owner may designate a different account in any bank or financial institution as the Building Revenue Account at any time by written notice to General Contractor. No other funds of General Contractor shall be deposited or commingled with funds in the Building Revenue Account.
Sample 1

Related to BUILDING REVENUE ACCOUNT

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Paying Electricity Charges pay for electricity and other utilities consumed in or relating to the Said Flat And Appurtenances.

  • Gross Revenue 16.1.1 For the purposes of this PPP Agreement and its Schedules, Gross Revenue shall be defined as:

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Electricity Charges The licensee herein shall pay the electricity bills directly for energy consumed on the licensed premises and should submit original receipts to Licensor indicating that the electricity bills are paid.

  • Health and Dental Premium Accounts The Employer agrees to provide eligible employees with the option to pay for the employee portion of health and dental premiums on a pretax basis as permitted by law or regulation.

  • Utility Charges Tenant shall pay or cause to be paid all charges for electricity, power, gas, oil, water and other utilities used in connection with the Leased Property.

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