Initial Deposit Into Operating Account Sample Clauses
Initial Deposit Into Operating Account. At closing Owner shall remit to Manager an amount to be determined at closing, which amount will be deposited in the Operating Account as an initial deposit representing the estimated disbursements to be made in the first month following the commencement of this Agreement. Furthermore, the Operating Account shall maintain a balance of at least $10,000.00 at all times in excess of amounts necessary to cover Operating Obligations next coming due with respect to the Property.
Initial Deposit Into Operating Account. The Operating Account shall have an imprest balance of $2,500.00 at all times in excess of amounts necessary to cover Operating Obligations next coming due with respect to the Property.