Common use of Facility Funds Clause in Contracts

Facility Funds. Facility shall provide and make available in a mutually agreeable manner through a checking account of Facility upon which Manager has signatory rights, sufficient good funds to permit the operation of the Facility in accordance with all budgets and recommendations submitted by Manager and approved by Facility. Facility agrees that it shall not withdraw or authorize withdrawal of any funds from any Facility operating account for any purpose other than payment of operating costs and expenses of the Facility in accordance with a current budget proposed by Manager and approved by Facility.

Appears in 1 contract

Sources: Management Agreement (National Western Life Insurance Co)

Facility Funds. Facility shall provide and make available in a mutually agreeable manner through a checking account of Facility upon which Manager has counter-signatory rightsrights with Facility, sufficient good funds to permit the operation of the Facility in accordance with all budgets and recommendations submitted by Manager and approved by Facility. Facility agrees and Manager agree that it they shall not withdraw or authorize withdrawal of any funds from any Facility operating account for any purpose other than payment of operating costs and expenses of the Facility in accordance with a current budget proposed by Manager and approved by Facility.

Appears in 1 contract

Sources: Management/Consultant Agreement (National Western Life Insurance Co)