Bank Accounts, Funds and Assets. The funds of the Partnership shall be deposited in such bank or banks as the General Partners shall deem appropriate. Subject to the provisions of Article XII, such funds shall be withdrawn only by the General Partners or their duly authorized agents. Sponsors shall have a fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in their immediate possession or control, and they shall not employ or permit another to employ such funds or assets in any manner except for the exclusive benefit of the Partnership. Sponsors shall not commingle or permit the commingling of the funds of the Partnership with the funds of any other person or entity.
Bank Accounts, Funds and Assets. The funds of the Partnership shall be invested in such accounts and investments as described herein and such funds shall be withdrawn only by the Project Leader or his duly authorized agents. The Project Leader shall have fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in his immediate possession or control, and he shall not employ such funds or assets in any manner except for the exclusive benefit of the Partnership.
Bank Accounts, Funds and Assets. The funds of the Partnership shall be deposited in such bank or banks as the General Partner shall deem appropriate. Subject to the provisions of this Agreement, the funds may be withdrawn only by the General Partner or its duly authorized agents. All bank accounts shall require the signatures of the General Partner on all checks. The General Partner shall have a fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in their immediate possession or control, and they shall not employ, or permit another to employ, the funds or assets in any manner, except for the exclusive benefit of the Partnership. The General Partner shall not commingle or permit the commingling of the funds of the Partnership with the funds of any other person.
Bank Accounts, Funds and Assets. The funds of the Company shall be deposited in such bank or banks as the Board shall deem appropriate.
Bank Accounts, Funds and Assets. The funds of the Company shall be deposited in such bank or banks as the Manager shall deem appropriate. Such funds shall be withdrawn only by the Manager. All checks shall require the signature of the Manager.
Bank Accounts, Funds and Assets. The funds of the Company shall be deposited in the Company’s name in such checking or other accounts as the Managers shall deem appropriate. Such funds shall be withdrawn only by such authorized persons as may be designated by the Managers.
Bank Accounts, Funds and Assets. The funds of the Partnership shall be deposited in such bank(s) or other financial institution(s) as the General Partner shall deem appropriate. Such funds shall be withdrawn only by the General Partner or its duly authorized agents. The General Partner shall have a fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in its immediate possession or control, and it shall not employ or permit another to employ such funds or assets in any manner except for the exclusive benefit of the Partnership. The General Partner shall not commingle or permit the commingling of the funds of the Partnership with the funds of any other Person; provided, however, nothing herein shall be construed from prohibiting the General Partner from establishing master fiduciary accounts to facilitate the collection of revenues and payments of expenses so long as there shall be a separate accounting in subaccounts for all funds of the Partnership and all other Persons participating in such master fiduciary accounts, the funds of the Partnership maintained in the master fiduciary accounts shall not be lent or used to satisfy the obligation of any such other Person and such funds are appropriately protected against claims by creditors of any such other Persons; and provided, further, that the General Partner will place any funds received as mileage allowances with respect to any railcars owned by the Partnership in a separate bank account in which it shall also place mileage allowances received with respect to other railcars managed by the General Partner and its Affiliates. All such funds (whether or not attributable to the Partnership’s railcars) will be used to make payment of mileage allowances due to lessees with respect to the Partnership’s railcars and the other railcars managed by the General Partner and its Affiliates. No rebates or give-ups may be received by the General Partner, nor may the General Partner participate in any reciprocal business arrangements. No funds of the Partnership shall be invested in other equipment Programs (whether sponsored by the General Partner and its Affiliates or by others), except as otherwise provided in Section 2.20(s).
Bank Accounts, Funds and Assets. The Company’s money shall be deposited at a bank or banks designated by the Operating Manager. Signatories for the withdrawal of funds shall be determined by the Operating Manager.
Bank Accounts, Funds and Assets. The funds of the Partnership shall be invested in such accounts and investments as described herein and such funds shall be withdrawn only by the General Partners or their duly authorized agents. The General Partners shall have fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in its immediate possession or control, and it shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the Partnership.
Bank Accounts, Funds and Assets. The Company shall maintain one or more bank accounts in such depository or depositories as the Member-Manager may determine. All receipts of the Company, of every kind, shall be deposited in such accounts; all expenses and indebtedness of the Company shall be paid from such accounts. In no event shall funds not belonging to the Company be deposited in such accounts. All monies deposited in such accounts shall be and shall remain the property of the Company and (as between the Members) shall be received, held, and disbursed as trust funds. Such funds shall be disbursed only for purposes authorized specifically by this Operating Agreement. Withdrawal of funds from such account or accounts shall be by checks signed by the Member-Manager.
