Disbursement Account. A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b).
Appears in 14 contracts
Samples: Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.)
Disbursement Account. A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b). Manager may open a separate Disbursement Account for each Project.
Appears in 6 contracts
Samples: Management Agreement (Resource Income Opportunity REIT, Inc.), Management Agreement (Resource Apartment REIT III, Inc.), Management Agreement (Resource Apartment REIT III, Inc.)
Disbursement Account. A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b). Manager shall open a separate Disbursement Account for each Project.
Appears in 2 contracts
Samples: Management Agreement (Resource Apartment REIT III, Inc.), Management Agreement (Resource Apartment REIT III, Inc.)
