Common use of Project Accounts Clause in Contracts

Project Accounts. (i) Developer shall, and shall require all Transferees to, establish and maintain one or more accounts (each, a “Project Account”) with the San Francisco branches of financial institutions Approved by Authority to which all Gross Revenues shall be deposited. Financial institutions holding Project Accounts may be changed from time to time with Approval of Authority and Developer. (ii) Developer shall, and shall require all Transferees: (A) not to commingle funds held in a Project Account with funds not related to the Project, including Affiliate accounts; and (B) to retain and make statements and all other records related to Project Accounts available for Authority’s review and audit in accordance with Section 1.6.

Project Accounts. (i) Developer shall, and shall require all Transferees to, establish and maintain one or more accounts (each, a “Project Account”) with the San Francisco branches of financial institutions Approved by Authority to which all Gross Revenues shall be deposited. Financial institutions holding Project Accounts may be changed from time to time with Approval of Authority and Developer. (ii) Developer shall, and shall require all Transferees: (A) not to commingle funds held in a Project Account with funds not related to the Project, including Affiliate accounts; and (B) to retain and make statements and all other records related to Project Accounts available for Authority’s review and audit in accordance with Section 1.61.7.

Project Accounts. (i) 1.3.1. Developer shall, and shall require all Transferees to, establish and maintain one or more accounts (each, a “Project Account”) with the San Francisco branches of financial institutions Approved by Authority to which all Gross Revenues shall be deposited. Financial institutions holding Project Accounts may be changed from time to time with Approval of Authority and Developer. (ii) 1.3.2. Developer shall, and shall require all Transferees: (A) not to commingle funds held in a Project Account with funds not related to the Project, including Affiliate accounts; and (B) to retain and make statements and all other records related to Project Accounts available for Authority’s review and audit in accordance with Section 1.6.