Common use of Bank Accounts, Funds and Assets Clause in Contracts

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 Subject to the provisions of Article XII, such funds shall be withdrawn only by the General Partners or their duly authorized agents.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.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Windsor Park Properties 3), Windsor Park Properties 7, Windsor Park Properties 6

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Bank Accounts, Funds and Assets. The funds of the Partnership shall be deposited in such bank or banks as the General Partners Partner shall deem appropriate. Subject to the provisions of Article XIIthis Agreement, such the funds shall may be withdrawn only by the General Partners Partner or their its duly authorized agents. Sponsors The General Partner shall have a fiduciary responsibility for the safekeeping and use of all funds of the Partnership, whether or not in their its immediate possession or control, and they it shall not employ employ, or permit another to employ such employ, the funds or assets in any manner manner, except for the exclusive benefit of the Partnership. Sponsors The General Partner shall not commingle or permit the commingling of the funds of the Partnership with the funds of any other person or entityperson.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (HF Enterprises Inc.), Agreement of Limited Partnership (SeD Intelligent Home Inc.)

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 Subject to the provisions of Article XII, such funds shall be withdrawn only by the General Partners or their duly authorized agents.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.

Appears in 1 contract

Samples: Windsor Park Properties 5

Bank Accounts, Funds and Assets. The funds of the Partnership shall be deposited in such bank or banks as the General Partners Partner(s) shall deem appropriate. Subject to the provisions of Article XII, such funds shall be withdrawn only by the General Partners Partner(s) 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 employ, or permit another to employ 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 entityPerson.

Appears in 1 contract

Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 3)

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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 employ, or permit another to employ 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 entityPerson.

Appears in 1 contract

Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 2)

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