Common use of Deposits and Disbursements Clause in Contracts

Deposits and Disbursements. WTMI shall establish bank accounts in the name of the Partnership and shall deposit or cause personnel engaged on behalf of the Partnership to deposit therein all receipts and monies arising from the operation of the Property or otherwise received for and on behalf of the Partnership. WTMI shall disburse Partnership funds from said accounts on behalf and in the name of the Partnership in such amounts and at such times as disbursement of such revenues for payment of payroll, or employee leasing expense, and other obligations of the Partnership is required.