Hotel Bank Accounts Sample Clauses

Hotel Bank Accounts. Manager will conduct its various banking affairs required by this Agreement, subject, however, to Owner's approval. Manager will have no liability for any loss to Owner as a result of any bank insolvency or failure or as a result of any negligence or misconduct of any ank or its employees. All funds received in the operation of the Hotel will be, deposited into one or more special accounts bearing the name of the Hotel (the "Hotel Accounts"), or the Capital Replacement Reserve Accounts as appropriate, in the banks so selected by Manager. Owner's funds will not be co-mingled with funds of Manager or funds of other hotels managed by Manager. However, all of the HOTEL/MOTEL MANAGEMENT AGREEMENT - Page 4 --------------------------------- Hotel's disbursements will be made out of a common corporate disbursement account along with disbursements for other hotels, which will be funded only at time of payment from the Hotel Accounts or, as to Capital Replacements, from the Capital Replacement Reserve Account.
Sample 1
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Hotel Bank Accounts. Manager will select all banks with which the Hotel will conduct its various banking affairs, subject however, to Lessee's approval, not to be unreasonably withheld. Manager will have no liability for any loss to Lessee as a result of any bank insolvency or failure or as a result of any negligence or misconduct of the Bank or its employees. All funds received in the operation of the Hotel will be deposited into one or more special accounts bearing the name of the Hotel (the "Hotel Accounts") in the banks so selected. Subject to the provisions of Section 7, all amounts in the Hotel Accounts are the property of Lessee. The Lessee's funds will not be co-mingled with funds of the Manager or funds of other Hotel managed by Manager.
Sample 1Sample 2
Hotel Bank Accounts. 26 3.6 Withdrawals from Hotel Bank Accounts..................................... 26 3.7 Remittances to Westboy................................................... 26
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Hotel Bank Accounts. Manager shall select all banks with which each Hotel shall conduct its various banking affairs. All funds received in the operation of each Hotel shall be deposited into one or more special accounts bearing the name of such Hotel in a bank so selected having a branch reasonably convenient to such Hotel and having a capital and surplus of not less than Five Million Dollars ($5,000,000.00). Each Hotel's operating expenses shall be paid out of its special accounts or such other accounts as may be maintained for Westboy, as well as Manager's fees, payroll expenses and other expenses to be paid to or reimbursed to Manager and Manager Affiliates for such Hotel in accordance with the terms and provisions of this Agreement. Neither Manager nor Westboy shall commingle any separate funds in such accounts.
Sample 1Sample 2
Hotel Bank Accounts. Owner will select all banks with which the Hotel will conduct its various banking affairs. Manager will have no liability for any loss to Owner as a result of any bank insolvency or failure or as a result of any negligence or misconduct of the Bank or its employees. All funds received in the operation of the Hotel will be deposited into one or more special accounts bearing the name of the Hotel (the “Hotel Accounts”) in the banks so selected. Subject to the provisions of Article 7, all amounts in the Hotel Accounts are the property of Owner. The Owner’s funds will not be co-mingled with funds of Manager or funds of other Hotels managed by Manager which are not owned by Affiliates of Owner. Moreover, Owner’s funds will not be commingled with the funds of other Hotels owned by Owner in the event that such commingling is forbidden by Owner’s lender, provided, however, that in the event that such prohibition causes Manager to incur material, recurring costs in connection with keeping such funds separate, then such costs shall be charged to the Hotel as an Operating Expense.
Sample 1
Hotel Bank Accounts. Manager will select all banks with which the Hotel will conduct its various banking affairs, subject however, to Lessee’s approval. Manager will have no liability for any loss to Lessee as a result of any bank insolvency or failure or as a result of any negligence or misconduct of the Bank or its employees. All funds received in the operation of the Hotel will be deposited into one or more special accounts bearing the name of the Hotel (the “Hotel Accounts”) in the banks so selected. Subject to the provisions of Article 7, all amounts in the Hotel Accounts are the property of Lessee. The Lessee’s funds will not be co-mingled with funds of Manager or funds of other Hotels managed by Manager which are not owned or leased by affiliates of Lessee. Moreover, Lessee’s funds will not be commingled with the funds of other Hotels owned or leased by Lessee or the landlord under the Lease in the event that such commingling is forbidden by any third party lender with a secured interest in the Hotel, provided, however, that in the event that such prohibition causes Manager to incur material, recurring costs in connection with keeping such funds separate, then such costs shall be charged to the Hotel as an Operating Expense.
Sample 1
Hotel Bank Accounts. Manager will select all banks with which the Hotel will conduct its various banking affairs, subject however, to Owner's approval, not to be unreasonably withheld. Manager will have no liability for any loss to Owner as a result of any bank insolvency or failure or as a result of any negligence or misconduct of the Bank or its employees. All funds received in the operation of the Hotel will be deposited into one or more special accounts bearing the name of the Hotel (the "Hotel Accounts") in the banks so selected. Subject to the provisions of Section 7, all amounts in the Hotel Accounts are the property of Owner. The Owner's funds will not be co-mingled with funds of the Manager or funds of other hotels managed by Manager. However, all of the Hotel's disbursements will be made out of a common corporate disbursement account along with disbursements for other hotels owned by the Owner, which will be funded only at the time of payment from the Hotel Accounts.
Sample 1
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Related to Hotel Bank Accounts

  • Bank Accounts The Custodian shall identify on its books as belonging to the applicable Fund cash (including cash denominated in foreign currencies) deposited with the Custodian. Where the Custodian is unable to maintain, or market practice does not facilitate the maintenance of, cash on the books of the Custodian, a bank account or bank accounts shall be opened and maintained outside the United States on behalf of a Portfolio with a Foreign Sub-Custodian. All accounts referred to in this Section shall be subject only to draft or order by the Custodian (or, if applicable, such Foreign Sub-Custodian) acting pursuant to the terms of this Agreement to hold cash received by or from or for the account of the Portfolio. Cash maintained on the books of the Custodian (including its branches, subsidiaries and affiliates), regardless of currency denomination, is maintained in bank accounts established under, and subject to the laws of, The Commonwealth of Massachusetts.

  • Bank Account Payments shall be made to the Contractor’s bank account denominated in euro, identified as follows: Name of bank: [complete] Address of branch in full: [complete] Exact designation of account holder: [complete] Full account number including codes: [complete] [IBAN code: [complete]]

  • Location of Bank Accounts Schedule 6.01(v) sets forth a complete and accurate list as of the Effective Date of all deposit, checking and other bank accounts, all securities and other accounts maintained with any broker dealer and all other similar accounts maintained by each Loan Party, together with a description thereof (i.e., the bank or broker dealer at which such deposit or other account is maintained and the account number and the purpose thereof).

  • Deposits to the Bank Account 3.1 The Selling Agents shall promptly deliver to the Escrow Agent all monies which they receive from prospective purchasers of the Securities, which monies shall be in the form of checks or wire transfers. Upon the Escrow Agent’s receipt of such monies, they shall be credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “HIGHTIMES HOLDING CORP.’s. Escrow Account.” Any check payable other than to the Escrow Agent as required hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient information to do so, then to the applicable Selling Agent (together with any Subscription Information, as defined below or other documents delivered therewith) by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.

  • Bank Accounts; Investments Capital Contributions, revenues and any other Company funds shall, as directed by Preferred, be deposited by the Company in trading accounts (whether “regulated” or “unregulated”) established in the name of the Company. As provided by Rule 4.20(c) of the Commodity Futures Trading Commission (the “CFTC”), no other funds shall be deposited into the Company’s trading accounts or commingled with Company investments. Funds deposited in the Company’s trading accounts may be withdrawn only to be invested in furtherance of the Company’s purposes, to pay Company debts or obligations or to be distributed to the Members pursuant to this Agreement.

  • Disbursement from the Bank Account 4.1 Subject to 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the Minimum Dollar Amount or the Minimum Securities Amount, as indicated by the Subscription Information submitted to the Escrow Agent, then in either such case, the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund.

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

  • Bank Accounts; Receivables (a) Part 2.7(a) of the Disclosure Schedule provides accurate information with respect to each account maintained by or for the benefit of the Company at any bank or other financial institution.

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