Disbursement Account. All Property expenses paid by Manager, as provided herein, are to be drawn on a separate disbursement account (the "Disbursement Account") that has been established by Owner which shall have two authorized signatories designated by Manager and approved by Owner. Any check in excess of $5,000 will require Owner approval prior to clearing the Disbursement Account. Owner will fund the Disbursement Account on a weekly basis, after receiving and approving the estimated total dollar amount requested from Manager.
Appears in 6 contracts
Samples: Property Management and Leasing Agreement (Balcor Equity Properties Xii), Management and Leasing Agreement (Balcor Realty Investors 85 Series I), Management and Leasing Agreement (Balcor Realty Investors 86 Series I)
