Opening Bank Accounts. Manager will be provided with documentation that outlines the Owner approved bank account structures and the related bank account products and services that support those bank account structures. Requests for alternative bank account structures and/or bank account products and services must be documented and approved by Owner. Unless directed otherwise by Owner, Manager is not permitted to open additional or ancillary property bank accounts, or attach additional bank products or services to those accounts, via direct contact with the banking institution. In order to open new property bank accounts Manager shall complete the Bank Accounts Request Form provided by Owner and e-mail such form to Owner. The Owner is responsible for all correspondence with the Bank regarding the opening of an account. Bank Documentation (e.g. signature cards, etc.) will then be forwarded to Manager for completion. Once completed this documentation should be forwarded to the Owner for review and approval.
Opening Bank Accounts. The board of trustees may open any bank account or accounts with such scheduled bank as may from time to time be determined by the trustees and such accounts shall be operated by such of the trustees or other persons as may from time be authorized to do so by a resolution passed board of trustees at their board meeting.
Opening Bank Accounts. Property Manager will establish bank accounts and related bank account products and services to deposit funds collected from operation of the Property. Property Manager shall establish a master account or accounts for the funds collected from the Property (collectively, the “Master Account”), including, but not limited to, an account from which the receipts and expenses of the Property will be managed and a lock-box account through which rents and other receipts will be collected. The Master Account may contain funds collected from other properties which are managed by Property Manager. Property Manager shall also establish a segregated Owner’s operating account for the Property (the “Operating Account”). Requests for alternative bank account structures and/or bank account products and services must be documented and approved by Owner and Property Manager.
Opening Bank Accounts. Without written consent of the Entrusted Lenders, the Borrower will not independently or jointly with other institutions open bank accounts in relation to Project Baqiao A and B; The bank account that has been opened by the Borrower for Project Baqiao A and B are the following: Bank Account Name: (to be determined)
