Common use of Bank Accounts; Receivables Clause in Contracts

Bank Accounts; Receivables. On the expiration or termination of this Agreement or the termination of Manager, as applicable, Manager shall disburse all of Tenant’s funds or other funds generated by the Managed Facility in the Bank Accounts to Tenant. All receivables of the Managed Facility outstanding as of the effective date of termination or expiration of this Agreement or termination of Manager, as applicable, shall continue to be the property of Tenant. Manager will turn over to Tenant any receivables collected directly by Manager after the effective date of termination or expiration of this Agreement or termination of Manager, as applicable.

Appears in 9 contracts

Samples: Management and Lease Support Agreement (Vici Properties Inc.), Management and Lease Support Agreement (Vici Properties Inc.), Management and Lease Support Agreement (Vici Properties Inc.)

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Bank Accounts; Receivables. On the expiration or termination of this Agreement or the termination of Manager, as applicable, Manager shall disburse all of Tenant’s funds or other funds generated by the Managed Facility Facilities in the Bank Accounts to Tenant. All receivables of the Managed Facility Facilities outstanding as of the effective date of termination or expiration of this Agreement or termination of Manager, as applicable, shall continue to be the property of Tenant. Manager will turn over to Tenant any receivables collected directly by Manager after the effective date of termination or expiration of this Agreement or termination of Manager, as applicable.

Appears in 1 contract

Samples: Management and Lease Support Agreement

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