Common use of Company Bank Accounts; Investments Clause in Contracts

Company Bank Accounts; Investments. Capital Contributions, revenues and any other Company funds shall be deposited by the Company in one or more bank accounts established in the name of the Company at such financial institution(s) as may be approved by the Governance Board, or shall be invested by the Company, in accordance with parameters established by the Governance Board, in furtherance of the purposes of the Company. Except as may otherwise be provided in any other Operative Agreement or approved by the Governance Board: (i) no other funds shall be deposited into Company bank accounts or commingled with Property and (ii) funds deposited in the Company’s bank accounts may be withdrawn only to be invested in furtherance of the Company’s purposes, to pay Company debts or obligations or to be distributed to the Members pursuant to this LLC Agreement.

Company Bank Accounts; Investments. Capital Contributions, revenues and any other Company funds shall be deposited by the Company in one or more bank accounts established in the name of the Company at such financial institution(s) as may be approved by the Governance Board, or shall be invested by the Company, in accordance with parameters established by the Governance Board, in furtherance of the purposes of the CompanyBusiness Purpose. Except as may otherwise be provided in any other Operative Agreement or approved by the Governance Board: (ia) no other funds shall be deposited into Company bank accounts or commingled with Company Property and (iib) funds deposited in the Company’s bank accounts may be withdrawn only to be invested in furtherance of the Company’s purposesBusiness Purpose, to pay Company debts or obligations or to be distributed to the Members pursuant to this LLC Agreement.