Xxxx Accounts. The Advisor may establish and maintain one or more bank accounts in the name of the Company and the Operating Partnership and may collect and deposit into any such account or accounts, and disburse from any such account or accounts, any money on behalf of the Company and/or the Operating Partnership, under such terms and conditions as the Directors may approve, provided that no funds shall be commingled with the funds of the Advisor; and the Advisor shall from time to time render appropriate accountings of such collections and payments to the Directors and to the auditors of the Company.
Xxxx Accounts. All funds of the Company shall be deposited in a bank account or accounts opened in the Company’s name. The Board shall determine the institution or institutions at which the accounts will be opened and maintained, the types of accounts, and the Persons who will have authority with respect to the accounts and the funds therein.
Xxxx Accounts. The funds of the Company shall be deposited in such bank or brokerage account or accounts as the Managers may determine are required for the purpose, and the Managers shall arrange for the appropriate conduct of such accounts (including, without limitation, the designation of one or more signatories therefor).
Xxxx Accounts. The Members shall deposit or cause the Company to deposit all cash balances derived from the business of the Company into one or more bank accounts established in the name of the Company (each a “Bank Account”). In no event shall any Bank Account be co-mingled with any accounts of any Member, Affiliate of a Member or other Person. Each Bank Account shall be in such depository institution under such arrangements as the Members may reasonably determine by Required Approval. Any investment of funds shall be made in the name of the Company. Through the use of signature cards, authorized representatives of the Members and the Company shall have access to all Bank Accounts and the contents thereof for Company purposes as allowed by this Agreement. All payments or withdrawals of funds of amounts less than $10,000 from Company accounts may be made by any authorized person of the Administrative Member without the necessity of joinder by the other Member. Notwithstanding anything in this Agreement to the contrary, no payments from a Bank Account may be made to, and no withdrawals from a Bank Account made by, any Member or its Affiliate or employee of such Member unless specifically provided for in this Agreement or the Annual Budget.
Xxxx Accounts. The Manager may establish and maintain one or more bank accounts in the name of the REIT or any subsidiary of the REIT, and may collect and deposit into any such account or accounts, and disburse funds from any such account or accounts in a manner consistent with this Agreement, including, without limitation, the following: (a) the payment of the Base Management Fee, (b) the payment (or advance) of reimbursable costs and expenses, and (c) any other appropriate amounts. The Manager shall from time to time render appropriate accountings of such collections and payments to the Board of Directors and, upon request, to the auditors of the REIT or any subsidiary of the REIT. One or more of the obligations of the Manager hereunder may be revoked in whole or in part by the REIT from time to time in its sole discretion.
Xxxx Accounts. For each XXXX Participant, a XXXX Account shall be established in which seventy-five percent (75%) of the Participant’s XXXX Benefit shall be credited on a monthly basis. The Participant’s XXXX Account shall be credited with interest as provided herein. All XXXX Accounts shall be maintained for the benefit of each XXXX Participant and will be managed by the Pension Board in the same manner as all Retirement System assets. XXXX Interest for each XXXX Participant shall be at a fixed rate of 3.0% per annum and shall be credited on the average monthly XXXX Account balance during each twelve month period of XXXX participation (“XXXX Year”). By way of example: XXXX Participation begins January 1,2017. If XXXX Benefit is $4,000.00, $3,000.00 will be credited monthly to the XXXX Account (i.e., 75% of $4,000.00). After the completion of 12 months (i.e., December 31, 2017), the XXXX Account will have a total account balance of $36,585.00 ($36,000 in XXXX Benefits and $585.00 in interest [based on 3.0% of the average monthly balance of $19,500.00 (total month ending balances ($234,000.00) divided by 12 months)]. Interest will be prorated if the XXXX Participant commences or terminates participation during the XXXX year. Only complete months of XXXX Participation will be utilized for calculating interest on XXXX Account balances. By way of example: XXXX Participation begins January 1, 2017 and ends March 31, 2018. If XXXX Benefit is $4,000.00, $3,000.00 will be credited monthly to the XXXX Account (i.e.75% of $4,000.00). After the completion of 15 months (i.e., March 31, 2018), the XXXX Account will have a total account balance of $45,904.39 ($45,000.00 in XXXX Year [based on 3.0% of the average monthly balance of $42,585 (total month ending balances ($127,755.00) divided by 3 months)]. [3.0% annual pro-rated interest amount calculated by taking average monthly balance multiplied by .03 divided by 12 and multiplied by number of months of participation in pro-rated XXXX Year]. Separation from employment prior to the individual’s XXXX End Date shall result in an Early XXXX Participation Termination Adjustment as provided in Section H or the XXXX. The Pension Board shall provide each XXXX Participant with a statement of the individuals XXXX Account. The reference to individual XXXX Accounts shall be interpreted to refer to the accounting records of the Retirement System and not to the actual segregation of assets in the reserve funds of the Retirement System.
Xxxx Accounts. Borrower shall maintain all of its primary depository and disbursement account(s) (including its operating account) with Lender.
Xxxx Accounts. (a) Section 3.21(a) of the Seller Disclosure Schedule provides the following information with respect to each account maintained by or for the benefit of the Company or the Business at any bank or other financial institution: (i) the name of the bank or other financial institution at which such account is maintained; (ii) the account number; (iii) the type of account; and (iv) the names of all persons who are authorized to sign checks or other documents with respect to such account.
(b) Section 3.21(b) of the Seller Disclosure Schedule lists all of the accounts receivable of the Company, or Seller or its Affiliates (with respect to the Business), as of July 31, 2017. All such accounts receivable, whether billed or unbilled, of the Company or Seller or its Affiliates (with respect to the Business), arose in the ordinary course of business, are carried at values determined in accordance with GAAP consistently applied, to the knowledge of Seller are not subject to any valid set-off or counterclaim, do not represent obligations for goods sold on consignment, on approval or on a sale-or-return basis and are not subject to any other repurchase or return arrangement. No person has any Lien on any accounts receivable of the Company or the Business.
(c) Section 3.21(c) of the Seller Disclosure Schedule contains an accurate and complete list as of the date of this Agreement of all loans and advances made by the Company to any employee, director, consultant or individual independent contractor, other than routine travel advances made to employees in the ordinary course of business.
Xxxx Accounts. Seller shall maintain its major depository and disbursement account(s) with financial institution acceptable to FGI. Seller shall provide FGI prompt written notice upon the opening of any new depository account or disbursement account. Upon FGI’s request, Seller shall establish a lockbox through which Seller shall instruct all Account Debtors to make payment on Accounts. Seller shall execute such agreements as FGI may require, to establish the lockbox.
Xxxx Accounts. All funds of the Company shall be deposited in the Company’s name in a bank account or accounts as chosen by the Member(s). Withdrawals from any bank accounts shall be made only in the regular course of business of the Company and shall be made upon such signature or signatures as the Member(s) from time to time may designate.
