Deposit and Disbursement of Funds. Manager shall deposit in a banking institution which is a member of the FDIC in accounts in Manager's name, as agent for Owner, all monies arising from the operation of the Facility or otherwise received by Manager for and on behalf of Owner (the "Facility Funds"), and shall disburse and pay the same from said accounts on behalf and in the name of Owner pursuant to the Budget, in the following order of priority, as and when required to be made in connection with:
Appears in 3 contracts
Samples: Master Management Agreement (Integrated Health Services Inc), Master Management Agreement (Integrated Health Services Inc), Master Management Agreement (Monarch Properties Inc)
Deposit and Disbursement of Funds. Manager shall deposit in a banking institution which is a member of the FDIC in accounts in Manager's name, name as agent for OwnerTenant, all monies arising from the operation of the Facility Facilities or otherwise received by Manager for and on behalf of Owner Tenant (the "Facility Funds"), and shall disburse and pay the same from said accounts on behalf and in the name of Owner pursuant to the Budget, Tenant in the following order of prioritypriority and, in each case, in such amounts and at such times as and when such Facility Funds are required to be made paid in connection with:
Appears in 1 contract
Samples: Management Agreement (Integrated Health Services Inc)
