Establishment of Operating Account Sample Clauses

Establishment of Operating Account. Lodemo and Global shall establish a local depository account at a bank or other institution approved in writing by Global (the "Operating Account"). If requested by Global, all funds in the Operating Account shall be invested in a cash management program approved by Global ("Cash Management Account"). Lodemo will be authorized to make deposits and withdrawals from the Operating Account and Cash Management Account in accordance with this Agreement and within the guidelines of the then current Budget. Project funds shall not be commingled with Lodemo's other funds and only Project funds shall be deposited in the Operating Account and in no other account. Lodemo shall pay all of its direct costs authorized to be paid under this Agreement out of the Operating Account or Cash Management Account.
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Establishment of Operating Account. Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at 000 Xxxxx Xxxxxx Xxxxxx, 0xx Xxxxx, NV1-119-02-01, Las Vegas, Nevada, 89101-6014, a non-interest bearing deposit account in the name of Pledgor and under the control of Secured Party, designated as "Xxxx Las Vegas, Operating Account". Securities Intermediary hereby undertakes to treat Pledgor as the person entitled to exercise the rights that comprise any Financial Asset credited to the Operating Account. Secured Party and the Pledgor agree that this account shall be the "Operating Account."
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Establishment of Operating Account. Operator shall establish and maintain, and the Company shall fund, a separate interest-bearing bank account ("Account") in the name of Company. All revenues and funds received by Operator in the course of the Operation of the Facilities and all interest earned on the Account shall be deposited in the Account. Deductions from the Account shall only consist of payments to the Operator for Cash Operating Costs (as described and authorized in Attachment I, Accounting Procedure) and cash distributions to the Partners. There shall be no commingling of funds of the Account with other accounts of the Operator.
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Establishment of Operating Account. Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at 00 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, a securities account in the name of Pledgor and under the control of Secured Party, designated as "Xxxx Las Vegas, Project Liquidity Reserve Account". Securities Intermediary hereby undertakes to treat Pledgor as the person entitled to exercise the rights that comprise any Financial Asset credited to the Project Liquidity Reserve Account. The Secured Party and the Pledgor agree that this account shall be the "Operating Account."
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Establishment of Operating Account. For purposes of this Escrow ---------------------------------- Agreement, the Escrow Agent is hereby directed to open and maintain at all times during the term of this Escrow Agreement an escrow account within the Escrow for the benefit of the Beneficiary (said account being called the "Operating Account" and being identified as Account No. E00748). All cash, checks, drafts, certificates, chattel paper and other instruments at any time and from time to time received by the Escrow Agent evidencing Escrow Assets or Distributions in respect of, or otherwise as proceeds of, Escrow Assets, shall be deposited in the Operating Account. The Escrow Agent shall deliver to the Grantor and the Beneficiary, on a monthly basis, a written statement (the "Valuation Report") identifying in reasonable detail the Escrow Assets then on deposit in the Operating Account, specifying any withdrawals from or deposits to the Operating Account during such month, and certifying the aggregate Market Value of the Escrow Assets as of the close of business on the day preceding the date of such Valuation Report.
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Establishment of Operating Account. For purposes of this Escrow Agreement, the Escrow Agent is hereby directed to open and maintain at all times during the term of this Escrow Agreement an Operating Account within the Escrow for the benefit of the Beneficiary (said account being called the “Operating Account” and being identified as Account No.
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Establishment of Operating Account. Spectra shall establish and maintain, in its name, a separate commercial bank account for the Facilities (“Operating Account”) and shall deposit all Gross Receipts in such account.
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Related to Establishment of Operating Account

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any.

  • Establishment of Accounts The Escrow Agent hereby instructs the Depositary, and the Depositary agrees, to establish the separate deposit accounts listed on Schedule I hereto and to establish such additional separate deposit accounts as may be required in connection with the deposits contemplated by Section 2.4 hereof (each, an “Account” and collectively, the “Accounts”), each in the name of the Escrow Agent and all on the terms and conditions set forth in this Agreement.

  • Establishment of the Bank Account 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Establishment of Bank Accounts On or before the Closing Date, the Servicer will establish the following segregated trust accounts at a Qualified Institution (initially the corporate trust department of ), each in the name “ , as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 20 - “, to be designated as follows:

  • Establishment of Collection Account (a) The Servicer, on behalf of the Issuer and the Indenture Trustee, shall establish the Collection Account in the name of the Indenture Trustee for the benefit of the Securityholders. The Collection Account shall be an Eligible Deposit Account initially established with the Indenture Trustee and maintained with the Indenture Trustee. Except as otherwise provided in this Agreement, in the event that the Collection Account maintained with the Indenture Trustee is no longer an Eligible Deposit Account, then the Servicer shall, with the Indenture Trustee’s assistance, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution within thirty days.

  • Operating Accounts (a) Maintain its primary operating and other deposit accounts and securities accounts with Bank and Bank’s Affiliates.

  • Portfolio Accounting Services (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.

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