Trust Funds Sample Clauses

Trust Funds. The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

Trust Funds. In the event that any party hereto should receive any funds that are to be paid to another party pursuant to the terms of this Agreement, then the receiving party shall hold such funds in trust for the benefit of the party entitled to receive such funds and shall promptly pay such funds to the party entitled to receive such funds in accordance with this Agreement.

Trust Funds. All lease security deposits of the Real Estate shall be treated as trust funds not to be commingled with any other funds of Mortgagor. Within 10 days after request by Mortgagee, Mortgagor shall furnish Mortgagee satisfactory evidence of compliance with this subsection, together with a statement of all lease security deposits by lessees and copies of all Leases not previously delivered to Mortgagee under which such security deposits are held, which statement shall be certified by Mortgagor.

Trust Funds. All lease security deposits of the Real Estate shall be treated as trust funds not to be commingled with any other funds of Grantor. Within 10 days after request by Beneficiary, Grantor shall furnish Beneficiary satisfactory evidence of compliance with this subsection, together with a statement of all lease security deposits by lessees and copies of all Leases not previously delivered to Beneficiary under which such security deposits are held, which statement shall be certified by Grantor.

Trust Funds. Consistent with the

Trust Funds. If permitted by applicable law, deposit all receipts collected for Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from Broker's personal accounts. Broker shall not be liable in event of bankruptcy or failure of a financial institution.

Trust Funds. It is agreed and understood that the CLC may have a representative on any and all trust funds into which its members are required to pay. As long as the Constructors’ Labor Council of West Virginia, Inc. has a Contractor representative on each trust, it is agreed and understood that the provisions of the trust documents are incorporated herein by reference.

Trust Funds. All moneys and securities received by the Trustee under the provisions of this Indenture, shall be trust funds under the terms hereof and shall not be subject to lien or attachment of any creditor of the Issuer or of the Company. Such moneys shall be held in trust and applied in accordance with the provisions of this Indenture.

Trust Funds. 19:01 Where an Employee performs work that would require the Employer to contribute hourly contributions to each of the Trust Funds in the amounts specified in this Collective Agreement, then the Employer shall keep, and shall be deemed to have kept, such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies to the applicable Trust Fund. Further, in the event of any liquidation, assignment, or bankruptcy of such an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., 0xx Xxxxx, 0000-000 Xxxxxx, Xxxxxxxx, Xxxxxxx, X0X 0X0. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Emp...

Trust Funds. Borrower will receive the advances to be made hereunder and will hold the right to receive the same as a trust fund for the purpose of paying the cost of the acquisition and development of the Land and the construction of the Improvements, and Borrower agrees not to expend any part of the proceeds of the Loans for any purpose except in connection with the uses and purposes provided for in this Loan Agreement without the prior written consent of Lender.