Common use of Segregated Funds Clause in Contracts

Segregated Funds. All Parties agree that the Annual Contribution funds in the Consortium Account shall be kept separate and apart from any and all other funds that may be acquired or utilized by YCPC and/or the Consortium, including, but not limited to, grant, loan, or donated funds. Grant, loan or donated funds shall be placed in separate Consortium accounts (each an “Additional Account”). It is the obligation of YCPC and the Administrator to maintain these funds and Additional Accounts separately, and to account for and report use of these funds to the Regional Committee.

Segregated Funds. All Parties agree that the Annual Contribution funds in the Consortium Account shall be kept separate and apart from any and all other funds that may be acquired or utilized by YCPC and/or the Consortium, including, but not limited to, grant, loan, or donated funds. Grant, loan or donated funds shall be placed in separate Consortium accounts (each an “Additional Account”). It is the obligation of YCPC and the Administrator to maintain these funds and Additional Accounts separately, separately and to account for and report use of these funds to the Regional Committee.