Administration of Bank Accounts Sample Clauses

Administration of Bank Accounts. Manager shall establish and administer the bank accounts listed in this Section 5.4 (the “Bank Accounts”) on Tenant’s behalf at a bank or banks selected by Tenant and reasonably approved by Manager. All Bank Accounts shall (a) be established by Manager (or a designee of Manager), as agent for Tenant, in the name of CEOC (or a subsidiary of CEOC), (b) be owned by CEOC (or such subsidiary of CEOC) and (c) use the taxpayer identification number of CEOC (or such subsidiary of CEOC). The Bank Accounts shall be interest-bearing accounts if such accounts are reasonably available. The Bank Accounts may include:
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Administration of Bank Accounts. Manager shall establish and administer the bank accounts listed in this Section 5.4 (the “Bank Accounts”) on Owner’s behalf at a bank or banks selected by Owner and reasonably approved by Manager. All Bank Accounts shall (a) be established by Manager, as agent for Owner, in the name of Owner, doing business as the Managed Facilities, (b) be owned by Owner and (c) use the taxpayer identification number of Owner. The Bank Accounts shall be interest-bearing accounts if such accounts are reasonably available. The Bank Accounts may include:
Sample 1Sample 2Sample 3See All (5)
Administration of Bank Accounts. Manager shall establish and administer the bank accounts listed in this Section 5.4 (the “Bank Accounts”) on Owner’s behalf at a bank or banks selected by Owner and approved by Manager. All Bank Accounts shall be established by Manager, as agent for Owner, in the name of Owner, doing business as the Managed Facilities, shall be owned by Owner and shall use the taxpayer identification number of Owner. The Funds in the Bank Accounts shall be held in express trust for the benefit of Owner and shall be disbursed, in each case on the terms and subject to the conditions of this Agreement. Except as expressly provided in this Agreement, Manager shall not commingle the funds in any such Bank Account with any funds of Manager or any Affiliate of Manager. The Bank Accounts shall be interest-bearing accounts if such accounts are reasonably available. The Bank Accounts may include:
Sample 1Sample 2
Administration of Bank Accounts. Manager shall establish, as agent for Owner, a bank account or accounts at a bank or other financial institution designated by Owner and approved by Manager (“Bank Accounts”). The Bank Accounts shall be in the name of Owner, doing business as the Hotel, shall be owned by Owner and shall use the taxpayer identification number of Owner. Manager shall not commingle the funds in any such Bank Account with any funds of Manager or any Affiliate of Manager. The Bank Accounts shall be interest-bearing accounts if such accounts are reasonably available and shall be maintained in accordance with the Financing Documents. Manager shall deposit into the Bank Accounts all moneys received by Manager from the operations of the Hotel. The Bank Accounts may include sub-accounts for specific purposes, such as restaurant and bar, parking and travel agent commission accounts (all such sub-accounts opened by Manager for specific purposes shall be referred to as the “Sub-Accounts”) into which Manager may deposit or transfer funds for payment to third parties. Manager, on behalf of Owner, shall have sole control of the Bank Accounts and Sub-Accounts and shall pay out of the same, to the extent of the funds from time to time therein, all costs and Operating Costs incurred in connection with the Operation of the Hotel and in accordance with this Agreement, including, without limitation, Hotel Personnel Costs, the Base Management Fee and Incentive Management Fee, and the Owner’s Expenses, any other amounts due Manager or its Affiliates under this Agreement; and all other costs and expenditures which Manager is permitted or required to make pursuant to this Agreement. If permitted by the operating system of the depository bank and requested by Owner, Owner shall be provided with “read-only” internet access to the Bank Accounts permitting Owner to examine balances and activity in the Bank Accounts but not permitting actions affecting or relating to the deposit or withdrawal of funds in such Bank Accounts. Manager shall establish controls intended to ensure accurate reporting, safety and security of all transactions involving the Bank Accounts.
Sample 1Sample 2
Administration of Bank Accounts. Operator shall establish and administer the bank accounts listed in this Section 5.4 (the “Bank Accounts”) on Owner’s behalf at a bank or banks selected by Operator and approved by Owner, it being understood that at Owner’s request Operator shall provide Owner with a list of up to three (3) nationally recognized banks from which to choose (unless less than three such banks are conveniently located to the Hotel, in which case the number provided may be less than three). All Bank Accounts shall be established in the name of Owner, doing business as The St. Regis Aspen Resort, under Owner’s taxpayer identification number. The Bank Accounts may include (a) account(s) for the purposes of depositing all funds received in the Operation of the Hotel and paying all Operating Expenses and all other amounts due to Operator or its Affiliates (the “Operating Account”); (b) account(s) into which amounts sufficient to cover all Hotel Personnel Costs shall be deposited from time to time by Operator (by transfer of funds from the Operating Account) or Owner (if sufficient funds are not then available in the Operating Account) (the “Payroll Account”); (c) an interest-bearing account into which the Reserve Fund Contributions shall be deposited from time to time by Operator by transfer of funds from the Operating Account, or by Owner if sufficient funds are not then available in the Operating Account in accordance with Section 5.2.2 (the “Reserve Fund”); and (d) such other accounts as Operator deems necessary or desirable. To the extent that the Hotel is involved in the rental of any Club Units on behalf of Club Unit Owners or others, Operator may also, in its discretion, establish and Operate bank accounts pursuant to this Agreement with respect to such rental activity.
Sample 1
Administration of Bank Accounts. Owner shall establish and Manager shall administer on Owner’s behalf the bank accounts listed in this Section 6.4 (the “Bank Accounts”) at an internationally recognized bank or banks selected by Manager and reasonably approved by Owner. All Bank Accounts shall be established in the name of Owner, doing business as the Managed Facilities Name; provided, however, Manager shall have, during the Term the exclusive and, absent Gross Negligence or Willful Misconduct, irrevocable control, over the Bank Accounts solely for the purpose of performing its duties as set forth in this Agreement. The Bank Accounts may include but are not limited to (a) account(s) for the purposes of depositing all funds received in the Operation of the Hotel and paying all Hotel Operating Expenses and all other amounts due to Manager or its Affiliates in connection with the Hotel (the “Hotel Operating Account”); (b) account(s) for the purposes of depositing all funds received in the Operation of the Gaming Facilities and paying all Casino Operating Expenses and all other amounts due to Manager or its Affiliates in connection with the Casino (the “Casino Operating Account”); (c) account(s) into which amounts sufficient to cover all Hotel Personnel Costs shall be deposited from time to time by Manager, by transfer of funds from the Hotel Operating Account (the “Hotel Payroll Account”); (d) account(s) into which amounts sufficient to cover all Casino Personnel Costs shall be deposited from time to time by Manager, by transfer of funds from the Casino Operating Account (the “Casino Payroll Account”); (e) an interest-bearing account into which the Reserve Fund Contributions shall be deposited from time to time by Manager, by transfer of funds from the Operating Accounts in accordance with Section 6.2.2; and, (f) such other accounts as Manager and Owner deem reasonably necessary or desirable. Manager shall not have the right to transfer funds between the Bank Accounts established for the Hotel and those established for the Casino without Owner’s prior written approval or except as provided in an approved Business Plan.
Sample 1
Administration of Bank Accounts 
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Administration of Bank Accounts

  • Location of Bank Accounts Schedule 6.01(v) sets forth a complete and accurate list as of the Effective Date of all deposit, checking and other bank accounts, all securities and other accounts maintained with any broker dealer and all other similar accounts maintained by each Loan Party, together with a description thereof (i.e., the bank or broker dealer at which such deposit or other account is maintained and the account number and the purpose thereof).

  • Administration of Accounts You agree that You shall be solely responsible for management of Your Administrator account(s) and all Your Managed Apple IDs, including but not limited to: (i) the security and safeguarding of the user name and password associated with each account; (ii) the provision and/or removal of access by any of Your personnel or End Users to such account and any Content provided and/or stored in the Service; and (iii) the provision of appropriate documentation and guidelines to End Users about using the Managed Apple ID accounts.

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

  • Bank Account Payments shall be made to the Contractor’s bank account denominated in euro, identified as follows: Name of bank: [complete] Address of branch in full: [complete] Exact designation of account holder: [complete] Full account number including codes: [complete] [IBAN code: [complete]]

  • Additional Bank Accounts Borrower shall not, directly or indirectly, open, establish or maintain any deposit account, investment account or any other account with any bank or other financial institution, other than the Blocked Accounts and the accounts set forth in Schedule 8.8 hereto, except: (a) as to any new or additional Blocked Accounts and other such new or additional accounts which contain any Collateral or proceeds thereof, with the prior written consent of Lender and subject to such conditions thereto as Lender may establish and (b) as to any accounts used by Borrower to make payments of payroll, taxes or other obligations to third parties, after prior written notice to Lender.

  • Custody of Partnership Funds; Bank Accounts (a) All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.

  • Administration of Buydown Funds (a) With respect to any Buydown Mortgage Loan, the Subservicer has deposited Buydown Funds in an account that satisfies the requirements for a Subservicing Account (the "Buydown Account"). The Master Servicer shall cause the Subservicing Agreement to require that upon receipt from the Mortgagor of the amount due on a Due Date for each Buydown Mortgage Loan, the Subservicer will withdraw from the Buydown Account the predetermined amount that, when added to the amount due on such date from the Mortgagor, equals the full Monthly Payment and transmit that amount in accordance with the terms of the Subservicing Agreement to the Master Servicer together with the related payment made by the Mortgagor or advanced by the Subservicer.

  • Administration of Agreement All approvals referenced in this Agreement must be obtained from the parties' contract administrators or their designees. All notices must be given to the parties' contract administrators respectively. The OAG's contract administrator is Xxxxxxxxx X. Xxxxxx, Chief, Bureau of Advocacy and Grants Management. The Provider’s contract administrator will be provided at the time of execution. The parties will provide each other with written notification of any change in its designated representative for this Agreement. Such changes do not require a formal written amendment to this Agreement.

  • Establishment of Trust Accounts (a) (i) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders.

  • Discretion of Bank as to Manner of Funding Notwithstanding any other provision of this Agreement, each Bank shall be entitled to fund and maintain its funding of all or any part of its Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if each Bank had actually funded and maintained each Eurodollar Loan through the purchase of deposits in the eurodollar interbank market having a maturity corresponding to such Loan’s Interest Period and bearing an interest rate equal to LIBOR for such Interest Period.

Time is Money Join Law Insider Premium to draft better contracts faster.