Common use of Management Account Clause in Contracts

Management Account. Management/Consultant will deposit all funds collected relating to the Property in the operating account of S.V.G. Properties, L.P. Management/Consultant will not commingle any funds collected relating to the Property with any other funds. All sums collected by Management/Consultant relating to the Property and all sums placed in the Account will be held in trust for Owner. Management/Consultant may draw on the Account only to pay the following matters in the following order of priority: li) first, operating expenses permitted by Sections 5.1 and 4.2, (ii) second, the Management Fee described in Section 5.1, and (iii) finally, all the amounts payable to Owner.