Working Funds Sample Clauses

Working Funds. The Lessee shall cause funds to be deposited in one or more operating accounts established by Manager, in amounts sufficient to implement the Capital Improvement Budget, pay the Management Fees and to enable Manager to perform its duties under this Agreement (“Working Funds”). In the event Lessee fails to advance sufficient Working Funds, Manager shall have the right to elect to terminate this Agreement upon ten (10) days’ prior written notice to Lessee with respect to the affected applicable Hotel. During such ten (10) day period, Lessee and Manager shall use reasonable efforts to resolve the dispute over such Working Funds. If such dispute is not resolved, then this Agreement shall terminate with respect to the affected applicable Hotel on the tenth (10th) day following Manager’s delivery of written notice of termination as provided above. If such dispute is resolved, then the notice will be deemed rescinded and this Agreement shall not be terminated pursuant to the notice with respect to the affected applicable Hotel. Further, if Manager should so terminate this Agreement with respect to the affected applicable Hotel and if Manager in good faith incurs expenditures, or otherwise accrues liabilities in accordance with the Capital Improvement Budget prior to the date of termination, Lessee agrees to promptly indemnify and hold Manager harmless from and against (i) any and all liabilities, costs and expenses properly incurred by Manager in connection with such expenses and liabilities through the date of Termination of this Agreement with respect to such Hotel, and (ii) any and all liabilities, costs and expenses properly incurred by Manager as a result of Lessee’s failure to perform any obligation or pay any liability arising under any related contracts pertaining to the applicable Hotel after Termination of this Agreement with respect to such Hotel. In the event of a Termination by Manager pursuant to this Section 7.01, Manager shall be entitled to a termination fee as liquidated damages but not as a penalty, as set forth in connection with a termination for convenience as described in Section 2.03(c) and subject to Section 2.03(d) above. Upon expiration or termination of this Agreement for the Hotel and the payment to Manager of all amounts due Manager hereunder upon such expiration or termination, as provided in this Agreement, all remaining Working Funds shall be transferred forthwith to Lessee, or made freely available to Lessee. Manager shall not be...
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Working Funds. Should the aggregate contributions made by the parties in accordance with the capitalization of the Corporation be insufficient to cover the Corporation's working fund requirements, the parties shall consult in good faith in order to find an appropriate solution.
Sample 1
Working Funds. Owner shall provide working funds to Manager, to be deposited into the Hotel Accounts, within fifteen business days of a request by Manager stating the amount required and the necessity for such funds. Owner shall provide (or shall cause Lessor to provide) sufficient funds to ensure the uninterrupted and efficient operation of the Hotel, in accordance with the then-applicable Budget or as otherwise expressly set forth in this Agreement, including sufficient funds to pay all of the items described in Section 5.04. If Owner (or Lessor) does not deposit the funds requested by Manager, Manager may withdraw such funds from the FF&E Reserve. In such event, Manager shall notify Owner and Owner shall immediately replenish (or shall cause Lessor to immediately replenish) the funds withdrawn from the FF&E Reserve. On or prior to the Commencement Date, Owner shall deposit (or cause Lessor to deposit) initial working funds in the amount of at least US$600,000 (it being agreed by Owner and Manager that approximately $300,000 of the foregoing $600,000 has been funded on the date hereof from Owner’s Permitted Mortgagee’s seasonality reserve) into the Hotel Accounts. In addition, Manager may (but is not obliged to) use or pledge its credit or advance its own funds to make ordinary and customary purchases of goods and payments for services for the Hotel on Owner's behalf, in which event:
Sample 1

Related to Working Funds

  • Sinking Funds Unless specified on the face hereof, this Note will not be subject to, or entitled to the benefit of, any sinking fund.

  • Sinking Fund The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

  • Operating Functions Acquiror and Acquiror Bank shall cooperate with the Company and the Bank in connection with planning for the efficient and orderly combination of the parties and the operation of the Bank and Acquiror Bank, and in preparing for the consolidation of the banks’ appropriate operating functions to be effective at the Effective Time or such later date as the parties may mutually agree.

  • Sinking Fund Provisions No sinking fund provisions.

  • Working Facilities During the Term of Employment, the Company shall furnish the Executive with an office, secretarial help and such other facilities and services suitable to his position and adequate for the performance of his duties hereunder.

  • Leasing Functions The Manager shall coordinate the leasing of the Properties and shall negotiate and use its best efforts to secure executed leases from qualified tenants, and to execute same on behalf of the Owner, if requested, for available space in the Properties, such leases to be in form and on terms approved by the Owner and the Manager, and to bring about complete leasing of the Properties. The Manager shall be responsible for the hiring of all leasing agents, as necessary for the leasing of the Properties, and to otherwise oversee and manage the leasing process on behalf of the Owner.

  • Reporting Functions (i) Monthly Servicer's Certificate. On or before each Remittance ------------------------------- Date, the Servicer shall prepare and deliver to the Note Issuer, the Note Trustee, the Certificate Trustee and the Infrastructure Bank a written report substantially in the form of Exhibit A hereto (a --------- "Monthly Servicer's Certificate") setting forth certain information relating to FTA Payments received by the Servicer during the Collection Period preceding such Monthly Remittance Date.

  • Purchase Price and Payment Terms The purchase price for all the Assets is as follows, $2,000,000 worth of Companies restricted shares at closing by issuing 2,000,000 shares of pre reverse, CRT stock.

  • Other Funds Federated Absolute Return Fund Federated Emerging Markets Debt Fund Federated Global Strategic Value Dividend Fund Federated Global Total Return Bond Fund Federated International Bond Strategy Portfolio Federated International Dividend Strategy Portfolio Federated International Leaders Fund Federated International Small-Mid Company Fund Federated International Strategic Value Dividend Fund Federated MDT Large Cap Value Fund Federated MDT Large Cap Value Fund * Federated Muni and Stock Advantage Fund *a portfolio of Federated MDT Equity Trust which became effective August 31, 2017. NINTH AMENDMENT TO FUND ACCOUNTING AGREEMENT THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

  • Invoices and Payments Within thirty (30) days after the end of each month in which Development Activities are performed, NovaDel shall invoice Licensee for any costs and expenses incurred by NovaDel or its Affiliates in such month. Each invoice shall be payable to NovaDel within thirty (30) days after invoice date.

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