Depositories. The Managers shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts.
Appears in 5 contracts
Samples: Merger Agreement (MVP REIT, Inc.), Merger Agreement (MVP REIT II, Inc.), Merger Agreement (Moody National REIT I, Inc.)
Depositories. The Managers Manager shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers Manager shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts, and no funds not belonging to the Company shall be deposited to such accounts. All amounts so deposited shall be received, held and disbursed by a Person or Persons designated by the Manager only for the purposes authorized by this Agreement.
Appears in 3 contracts
Samples: Operating Agreement (Moody National REIT I, Inc.), Operating Agreement (Moody National REIT I, Inc.), Operating Agreement (Moody National REIT I, Inc.)
Depositories. The Managers shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts, and no funds not belonging to the Company shall be deposited to such accounts. All amounts so deposited shall be received, held and disbursed by a Person or Persons designated by the Managers only for the purposes authorized by this Agreement.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Renal Care Group Inc), Limited Liability Company Agreement (Renal Care Group Inc)
Depositories. The Managers or their designees shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers or such designees shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts, and no funds not belonging to the Company shall be deposited to such accounts. All amounts so deposited shall be received, held and disbursed by Persons designated by the Managers only for and on behalf of the Company.
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Depositories. The Managers shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be he paid from such accounts.
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Depositories. The Managers shall may maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers Manager shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts. Unless otherwise determined by the Managers, all signatories on any such account shall be bonded under a blanket commercial bond insuring the Company against loss, and such accounts shall be insured against loss from forgery.
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