Common use of Release of Money or Other Property Upon Written Request Clause in Contracts

Release of Money or Other Property Upon Written Request. The Manager hereby agrees that any money or other property of the Service Recipients or their Subsidiaries held by the Manager Group under this Agreement shall be held by the relevant member of the Manager Group as custodian for such Person, and the relevant member of the Manager Group’s records shall be appropriately marked clearly to reflect the ownership of such money or other property by such Person. Upon the receipt by the relevant member of the Manager Group of a written request signed by a duly authorized representative of a Service Recipient requesting the relevant member of the Manager Group to release to the Service Recipient any money or other property then held by the relevant member of the Manager Group for the account of such Service Recipient under this Agreement, the relevant member of the Manager Group shall release such money or other property to the Service Recipient within a reasonable period of time, but in no event later than 30 days following such request. The relevant member of the Manager Group shall not be liable to any Service Recipient, a Service Recipient’s Governing Body or any other Person for any acts performed or omissions to act by a Service Recipient in connection with the money or other property released to the Service Recipient in accordance with the second sentence of this Section 10.

Appears in 4 contracts

Samples: Management Services Agreement, Management Services Agreement (NRG Yield, Inc.), Management Services Agreement (NRG Yield, Inc.)

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Release of Money or Other Property Upon Written Request. The Manager hereby agrees that any money or other property of the Service Recipients or their Subsidiaries held by the Manager Group under this Agreement shall be held by the relevant member of the Manager Group as custodian for such Person, and the relevant member of the Manager Group’s records shall be appropriately marked clearly to reflect the ownership of such money or other property by such Person. Upon the receipt by the relevant member of the Manager Group of a written request signed by a duly authorized representative of a Service Recipient requesting the relevant member of the Manager Group to release to the Service Recipient any money or other property then held by the relevant member of the Manager Group for the account of such Service Recipient under this Agreement, the relevant member of the Manager Group shall release such money or other property to the Service Recipient within a reasonable period of timepromptly, but in no event later than 30 7 days following such request. The relevant member of the Manager Group shall not be liable to any Service Recipient, a Service Recipient’s Governing Body or any other Person for any acts performed or omissions to act by a Service Recipient in connection with the money or other property released to the Service Recipient in accordance with the second sentence of this Section 10.

Appears in 2 contracts

Samples: Master Services Agreement (Clearway Energy, Inc.), Master Services Agreement (Clearway Energy, Inc.)

Release of Money or Other Property Upon Written Request. The Manager Managers hereby agrees agree that any money or other property of the Service Recipients or their Subsidiaries held by the Manager Group under this Agreement shall will be held by the relevant member of the Manager Group as custodian for such Person, and the relevant member of the Manager Group’s records shall will be appropriately marked clearly to reflect the ownership of such money or other property by such Person. Upon the receipt by the relevant member of the Manager Group of a written request signed by a duly authorized representative of a Service Recipient requesting the relevant member of the Manager Group to release to the Service Recipient any money or other property then held by the relevant member of the Manager Group for the account of such Service Recipient under this Agreement, the relevant member of the Manager Group shall will release such money or other property to the Service Recipient within a reasonable period of time, but in no event later than 30 60 days following such request. The relevant member of the Manager Group shall will not be liable to any Service Recipient, a Service Recipient’s Governing Body or any other Person for any acts performed or omissions to act by a Service Recipient in connection with the money or other property released to the Service Recipient in accordance with the second sentence of this Section 1011.

Appears in 2 contracts

Samples: Master Services Agreement (Brookfield Property Partners L.P.), Master Services Agreement (Brookfield Property Partners L.P.)

Release of Money or Other Property Upon Written Request. The Manager Service Providers hereby agrees agree that any money or other property of the Service Recipients or their Subsidiaries held by the Manager Service Provider Group under this Agreement shall be held by the relevant member of the Manager Service Provider Group as custodian for such Person, and the relevant member of the Manager Service Provider Group’s records shall be appropriately marked clearly to reflect the ownership of such money or other property by such Person. Upon the receipt by the relevant member of the Manager Service Provider Group of a written request signed by a duly authorized representative of a Service Recipient requesting the relevant member of the Manager Service Provider Group to release to the Service Recipient any money or other property then held by the relevant member of the Manager Service Provider Group for the account of such Service Recipient under this Agreement, the relevant member of the Manager Service Provider Group shall release such money or other property to the Service Recipient within a reasonable period of time, but in no event later than 30 60 days following such request. The relevant member of the Manager Service Provider Group shall not be liable to any Service Recipient, a Service Recipient’s Governing Body or any other Person for any acts performed or omissions to act by a Service Recipient in connection with the money or other property released to the Service Recipient in accordance with the second sentence of this Section 1011.

Appears in 2 contracts

Samples: Master Services Agreement (TerraForm Power, Inc.), Merger Agreement (TerraForm Power, Inc.)

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Release of Money or Other Property Upon Written Request. The Without limiting Section 3.3 hereof, the Manager hereby agrees that any money or other property of the Service Recipients or their Subsidiaries held by the Manager Group under this Agreement shall be held by the relevant member of the Manager Group as custodian for such Person, and the relevant member of the Manager Group’s records shall be appropriately marked clearly to reflect the ownership of such money or other property by such Person. Upon the receipt by the relevant member of the Manager Group of a written request signed by a duly authorized representative of a Service Recipient requesting the relevant member of the Manager Group to release to the Service Recipient any money or other property then held by the relevant member of the Manager Group for the account of such Service Recipient under this Agreement, the relevant member of the Manager Group shall release such money or other property to the Service Recipient within a reasonable period of time, but in no event later than 30 days 5 Business Days following such request. The relevant member of the Manager Group shall not be liable to any Service Recipient, a Service Recipient’s Governing Body or any other Person for any acts performed or omissions to act by a Service Recipient in connection with the money or other property released to the Service Recipient in accordance with the second sentence of this Section 10.

Appears in 1 contract

Samples: Management Services Agreement (TerraForm Power, Inc.)

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