Funds or Accounts Sample Clauses
The 'Funds or Accounts' clause defines how financial resources or monetary accounts are managed, held, or utilized under the agreement. It typically specifies which party is responsible for establishing, maintaining, or controlling certain funds or accounts, and may outline procedures for deposits, withdrawals, or transfers. For example, it might require one party to set up a dedicated escrow account for payments or to maintain a reserve fund for future obligations. This clause ensures clear allocation of financial responsibilities and helps prevent disputes over the handling of money within the contractual relationship.
Funds or Accounts. The Acquisition Fund has been established under the Escrow Agreement with the Escrow Agent. Amounts held in the Acquisition Fund will be used to pay a portion of the costs of the Project. No other funds or accounts have been established for the Lease Agreement to hold Lease Proceeds or other money that will be used to make rental payments under the Lease Agreement.
Funds or Accounts. The Escrow Fund has been established under the Escrow Agreement with the Escrow Agent. Amounts held in the Escrow Fund will be used to pay costs of the Project. No other funds or accounts have been established for the Lease to hold Lease Proceeds or other money that will be used to make rental payments under the Lease.
Funds or Accounts. The following fund has been established for the Lease: