Rancon Accounts. Subject to Rancon’s approval, which approval shall not be unreasonably withheld or delayed, Glenborough shall select all banks, savings and loan associations or other financial institutions for any of the following described accounts. All accounts shall be in the name of Rancon, shall name Glenborough as agent for Rancon and need not be interest bearing accounts. Glenborough shall give written notice to Rancon of the number and location of all of Rancon’s accounts. If reasonable, Rancon may direct Glenborough to change any depository arrangement with respect to any account.
Appears in 4 contracts
Samples: Management and Services Agreement, Management and Services Agreement (Rancon Realty Fund Iv), Management and Services Agreement (Rancon Realty Fund V)
