Deposit and Transmittal. TSP shall be entrusted with the responsibility for handling funds of others, documenting financial transactions and maintaining the integrity of financial records in accordance with TR Sections CS-Customer Service, and FR Financial Requirements, and for maintaining certain Project accounts and transferring funds as provided in Section 5. TSP shall have a fiduciary duty to the Joint Board, the States’ Parties and users of the Bridges, and shall institute all necessary and proper mechanisms for custody and administration over funds and revenues. Project Gross Revenues are public funds. TSP shall collect all Gross Revenues resulting from the performance of Operations and Maintenance Work hereunder and shall hold such Gross Revenues in trust for the Joint Board until deposited into the accounts specified to receive the same in accordance with the provisions of Section 5, the Flow of Funds Diagram set forth in Attachment C-3 to the TR, and the Custody and Revenue Control Contract to be entered into among the Custodian, the Revenue Control Manager, KPTIA and IFA and TSP, substantially in the form of Exhibit O.
Appears in 6 contracts
Samples: Toll Services Agreement, Toll Services Agreement, Toll Services Agreement
