Rental Account definition
Examples of Rental Account in a sentence
Subject to the Owner's approval, attorney fees and other necessary costs incurred in connection with such actions will be paid out of the Project Rental Account as Project expenses.
The Agent will pay premiums out of the Project Rental Account, as an expense of the Project.
The Agent will be compensated for its service under this Agreement by monthly fees to be paid out of the Project Rental Account to be treated as Project expenses.
Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Project Rental Account as agent for the Owner.
By the twenty-fifth (25th) day of each month, the Agent will furnish the Owner with a statement of receipts and disbursements during the previous month, a schedule of accounts receivable and payable, as of the end of the previous month and reconciled bank statements for the Project Rental Account, as of the end of the previous month.
In the event the balance in the Project Rental Account is at any time insufficient to pay disbursements due and payable under Section 11(a) above, the Agent will inform the Owner of that fact and Owner shall immediately deposit sufficient funds.
From the funds collected and deposited by the Agent in the Shopping Center Rental Account, either the Owner or the Agent, as shall be determined from time to time by the Owner, will make the following disbursements when payable in the following order.
The Agent will pay premiums out of the Shopping Center Rental Account, as an expense of the Shopping Center.
The Agent will be compensated for its services under this Agreement by monthly fees to be paid out of the Shopping Center Rental Account to be treated as Shopping Center expenses.
Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Shopping Center Rental Account as agent for the Owner.