Management Funds Sample Clauses

Management Funds. Manager to keep proper account (1) (a) All monies collected by the Manager (who shall be deemed to be a trustee for and on behalf of the Owners in respect of all monies and deposits received on their behalf) in the exercise of its powers and duties hereunder (save and except that the Manager may retain or pay into a current account a reasonable amount to cover expenditure of a minor nature as is from time to time determined by a resolution of the Owners' Committee (if any) and also subject to such conditions as may be approved by a resolution of the Owners' Committee) shall without delay be paid into (i) an interest-bearing bank account or accounts of the Manager (such bank account(s) shall be opened and maintained with a bank within the meaning of Section 2 of the Banking Ordinance and the title of which refers to the management of the Development); or (ii) if there is an Owners’ Incorporation, the account or accounts opened and maintained under Clause (1)(b) below. The Manager shall use that account(s) exclusively for the management of the Development and keep true and proper accounts of all such monies and the expenditure thereof and shall produce a detailed summary of such accounts each month and shall after the close of every financial year produce an annual set of accounts as soon as the accounts are certified by the auditors hereinafter referred to as providing an accurate summary of all items of income and expenditure during the preceding year. The Manager shall keep all bills, invoices, vouchers, receipts and other documents referred to in the accounts for at least 6 years. (b) Without prejudice to the generality of Clause (1)(a) above, if there is an Owners’ Incorporation, the Manager shall open and maintain one or more segregated interest-bearing accounts (such account(s) shall be opened and maintained with a bank within the meaning of Section 2 of the Building Ordinance, the title of which refers to the management of the Development), each of which shall be designated as a trust account or client account, for holding money received by him from or on behalf of the Owners’ Incorporation in respect of the management of the Development. (c) The Manager shall display a document showing evidence of any account opened and maintained under Clause (1)(a) or (1)(b) above in a prominent place in the Development. Compensation, etc recovered by Manager (2) Where any compensation, damages, costs and expenses are received or recovered (as the case may be) by ...
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Management Funds. Concurrent with the recordation of this Conservation Easement and as reflected in Recital F, above, Grantee received a one-time distribution of Dollars ($ ) in management funds (the “Management Funds”), of which Dollars ($ ) shall be a non-wasting endowment. Grantee may spend the Management Funds on any property interest held by Grantee for XX in Sacramento County for any purpose related to such property interest in the Grantee’s sole and absolute discretion, including, but not limited to, management, monitoring, enforcement, or restoration..
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Management Funds. 11. (a) The Manager shall open and maintain separate interest-bearing accounts and shall use that account(s) exclusively in respect of the management of the Development.
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Management Funds. 16. (a) (i) The Manager shall be deemed to be a trustee for and on behalf of the Owners in respect of all money received on their behalf and unless otherwise authorized by the Owners' Committee must pay the money into a specifically designated interest bearing account in respect of the Building at a licensed bank. The Manager may retain a reasonable amount to cover day-to-day expenditure, such amount to be approved from time to time by the Owners' Committee and the Manager shall keep proper accounts of all such money and the expenditure thereof and shall once every year produce an annual set of accounts to the Owners which accounts will be certified by the Authorized Accountant hereinafter referred to as providing an accurate summary of all items of income and expenditure during the preceding year. (ii) There shall be established and maintained by the Manager as trustee for and on behalf of the Owners at such time as it shall deem appropriate Building Special Fund towards payment of expenses of a capital nature for the replacement or improvement of installation, plant and equipment in respect of the Building Common Areas and Building Common Facilities and/or for the proper management of the Building Common Areas and Building Common Facilities and such fund shall not be refundable nor transferable Provided always that such fund shall be the property of the Owners and shall be deposited in a specifically designated interest bearing bank account designated as a trust account for the Owners. Special reference shall be made to the Building Special Fund in the annual accounts and an estimate shall be given as to the time of any likely need to draw on the fund. Any contribution to such fund and the time and manner for making such contribution shall be approved by the Owners in annual meeting. (iii) There shall be established and maintained by the Manager as trustee for and on behalf of the Residential Owners at such time as it shall deem appropriate Residential Special Fund towards payment of expenses of a capital nature for the replacement or improvement of installation, plant and equipment in respect of the Residential Common Areas and Residential Common Facilities and/or for the proper management of the Residential Common Areas and Residential Common Facilities and such fund shall not be refundable nor transferable Provided always that such fund shall be the property of the Residential Owners and shall be deposited in a specifically designated interest bearing...
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Management Funds. (a) The Manager shall be deemed to be trustee for and on behalf of the Owners in respect of the Management Funds irrespective of changes in ownership of the Undivided Shares.
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Management Funds. Manager to keep proper account
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Related to Management Funds

  • Investment Funds Unregistered general or limited partnerships or pooled investment vehicles and/or registered investment companies in which the Company (directly, or indirectly through the Master Fund) invests its assets that are advised by an Investment Manager.

  • Settlement Funds The Servicer shall be named as a payee on all insurance loss drafts and upon receipt thereof, the funds shall be credited to the Borrower's Insurance Proceeds balance and deposited into (a) where such funds will be applied to the repair and restoration of the related Mortgaged Property and where required by applicable state law, one or more separate escrow accounts, so that the balance on deposit in such accounts is fully insured at all times by the FDIC through either the BIF or SAIF or (b) where such funds will not be applied to the repair and restoration of the related Mortgaged Property, the respective Custodial P&I Account.

  • Management Accounts The Management Accounts:

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • Payment Fund “Payment Fund” is defined in Section 2.6(a) of the Agreement.

  • GRANT FUNDS The Provider will not commingle grant funds (payments and reimbursements made under this Agreement) with other personal or business accounts. The U.S. Department of Justice, DOJ Grants Financial Guide does not require physical segregation of cash deposits or the establishment of any eligibility requirements for funds which are provided to a Provider. The Provider’s accounting systems must ensure grant funds are not commingled with funds on either a program-by-program or a project-by-project basis. Grant funds specifically budgeted and received for one project may not be used to support another. Where the Provider's existing accounting system cannot comply with this requirement, the Provider will establish an additional accounting system to provide adequate grant fund accountability for each project. In accordance with the provisions of section 287.0582, Florida Statutes, if the terms of this Agreement and reimbursement contemplated by this Agreement extend beyond the current fiscal year, the OAG's performance and obligation to reimburse under this Agreement are contingent upon an annual appropriation and spending authority by the Florida Legislature. In addition, the OAG’s performance and obligation to reimburse under this Agreement is contingent upon the OAG's Victims of Crime Act award, as funded through the U.S. Department of Justice, Office for Victims of Crime formula grant program.

  • Partnership Funds Pending application or distribution, the funds of the Partnership shall be deposited in such bank account or accounts, or invested in such interest-bearing or non-interest bearing investment, including, without limitation, checking and savings accounts, certificates of deposit and time or demand deposits in commercial banks, U.S. government securities and securities guaranteed by U.S. government agencies as shall be designed by the General Partner. Such funds shall not be commingled with funds of any other Person. Withdrawals therefrom shall be made upon such signatures as the General Partner may designate.

  • Income Funds T. Rowe Price Multi-Sector Account Portfolios, Inc. on behalf of:

  • Match Funds The goal of this subtask is to ensure that the Recipient obtains any match funds planned for this Agreement and applies them to the Agreement during the Agreement term. While the costs to obtain and document match funds are not reimbursable under this Agreement, the Recipient may spend match funds for this task. The Recipient may only spend match funds during the Agreement term, either concurrently or prior to the use of Energy Commission funds. Match funds must be identified in writing, and the Recipient must obtain any associated commitments before incurring any costs for which the Recipient will request reimbursement. The Recipient shall: • Prepare a Match Funds Status Letter that documents the match funds committed to this Agreement. If no match funds were part of the proposal that led to the Energy Commission awarding this Agreement and none have been identified at the time this Agreement starts, then state this in the letter. If match funds were a part of the proposal that led to the Energy Commission awarding this Agreement, then provide in the letter: o A list of the match funds that identifies:  The amount of cash match funds, their source(s) (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied.  The amount of each in-kind contribution, a description of the contribution type (e.g., property, services), the documented market or book value, the source (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied. If the in-kind contribution is equipment or other tangible or real property, the Recipient must identify its owner and provide a contact name, address, telephone number, and the address where the property is located.  If different from the solicitation application, provide a letter of commitment from an authorized representative of each source of match funding that the funds or contributions have been secured. • At the Kick-off meeting, discuss match funds and the impact on the project if they are significantly reduced or not obtained as committed. If applicable, match funds will be included as a line item in the progress reports and will be a topic at CPR meetings. • Provide a Supplemental Match Funds Notification Letter to the CAM of receipt of additional match funds. • Provide a Match Funds Reduction Notification Letter to the CAM if existing match funds are reduced during the course of the Agreement. Reduction of match funds may trigger a CPR meeting. Products: • Match Funds Status Letter • Supplemental Match Funds Notification Letter (if applicable) • Match Funds Reduction Notification Letter (if applicable)

  • Multi-Manager Funds In connection with securities transactions for the Fund, the Subadviser that is (or whose affiliated person is) entering into the transaction, and any other investment manager that is advising an affiliate of the Fund (or portion of the Fund) (collectively, the “Managers” for the purposes of this section) entering into the transaction are prohibited from consulting with each other concerning transactions for the Fund in securities or other assets and, if both Managers are responsible for providing investment advice to the Fund, the Manager’s responsibility in providing advice is expressly limited to a discrete portion of the Fund’s portfolio that it manages. This prohibition does not apply to communications by the Adviser in connection with the Adviser’s (i) overall supervisory responsibility for the general management and investment of the Fund’s assets; (ii) determination of the allocation of assets among the Manager(s), if any; and (iii) investment discretion with respect to the investment of Fund assets not otherwise assigned to a Manager.

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