Common use of Deposit of Company Funds Clause in Contracts

Deposit of Company Funds. Upon formation of the Company, all Capital Contributions shall be transferred to a separate Company account or accounts in such banks or other financial institutions as may be selected by the Officers. Such account or accounts shall be maintained in the name of or for the benefit of the Company. Thereafter, all revenues, bank loans, proceeds and other receipts will be deposited and maintained in such account or accounts, which may or may not bear interest, and all expenses, costs and similar items payable by the Company will be paid from such accounts. The Company's funds, including, but not limited to, the Member's Capital Contributions, Company revenue and the proceeds of any borrowing by the Company, may be invested as the Officers deem advisable. Any interest or other income generated by such deposits or investments will be considered part of the Company's account. Company funds from any of the various sources mentioned above may be commingled with other Company funds, but not with the separate funds of the Board or any other Person and may be withdrawn, expended and distributed as authorized by the terms and provisions of this Agreement.

Deposit of Company Funds. Upon formation of the Company, all Capital Contributions shall be transferred to a separate Company account or accounts in such banks or other financial institutions as may be selected by the OfficersManagement Committee. Such account or accounts shall be maintained in the name of or for the benefit of the Company. Thereafter, all revenues, bank loans, proceeds and other receipts will be deposited and maintained in such account or accounts, which may or may not bear interest, and all expenses, costs and similar items payable by the Company will be paid from such accounts. The Company's funds, including, but not limited to, the Member's Capital Contributions, Company revenue and the proceeds of any borrowing by the Company, may be invested as the Officers deem Management Committee deems advisable. Any interest or other income generated by such deposits or investments will be considered part of the Company's account. Company funds from any of the various sources mentioned above may be commingled with other Company funds, but not with the separate funds of the Board or any other Person and may be withdrawn, expended and distributed as authorized by the terms and provisions of this Agreement.

Deposit of Company Funds. Upon formation of the Company, all Capital Contributions shall be transferred to a separate Company account or accounts in such banks or other financial institutions as may be selected by the Officers. Such account or accounts shall be maintained in the name of or for the benefit of the Company. Thereafter, all revenues, bank loans, proceeds and other receipts will be deposited and maintained in such account or accounts, which may or may not bear interest, and all expenses, costs and similar items payable by the Company will be paid from such accounts. The Company's funds, including, but not limited to, the Member's Capital Contributions, Company revenue and the proceeds of any borrowing by the Company, may be invested as the Officers deem deems advisable. Any interest or other income generated by such deposits or investments will be considered part of the Company's account. Company funds from any of the various sources mentioned above may be commingled with other Company funds, but not with the separate funds of the Board or any other Person and may be withdrawn, expended and distributed as authorized by the terms and provisions of this Agreement.