Monitoring Accounts Sample Clauses
The Monitoring Accounts clause establishes the right or obligation for one party to oversee or review specific financial accounts related to the agreement. Typically, this involves granting access to account statements, transaction records, or other financial data to ensure compliance with contractual terms or to track the flow of funds. By enabling regular oversight, this clause helps prevent misuse of funds, ensures transparency, and allows for early detection of discrepancies or breaches.
Monitoring Accounts. Manager shall monitor, through computer access to the extent available, all Project Accounts and other accounts established by Manager on behalf of Owner and/or required by any Lender. In the event Manager determines at any time that funds in such accounts are insufficient for such purposes, Manager shall immediately inform Owner of such insufficiency and provide Owner with a statement of outstanding amounts currently due. Unless otherwise required by the Loan Compliance Requirements or any Cash Management System, all funds received by Manager for or on behalf of Owner (less any sums properly deducted by Manager pursuant to any of the provisions of this Agreement and the Annual Plan) shall be deposited in the appropriate Project Account maintained by Manager for the deposit of funds of Owner and not mingled with the funds of Manager or any other project.
Monitoring Accounts. Manager shall monitor, through computer access to the extent available, all Property Account(s) (as defined below) and other accounts established by Manager on behalf of an Owner and/or required by any lender. In the event Manager determines at any time that funds in such accounts are insufficient for such purposes, Manager shall immediately inform the applicable Owner of such insufficiency and provide such Owner with a statement of outstanding amounts currently due. Unless otherwise required by any applicable loan requirements or any Cash Management System, all funds received by Manager for or on behalf of any Owner (less any sums properly deducted by Manager pursuant to any of the provisions of this Agreement and the applicable Annual Plan) shall be deposited in the appropriate Property Account(s) maintained by Manager for the deposit of funds of such Owner and not commingled with the funds of Manager, any other Owner or any other Property.
Monitoring Accounts. Collection Manager’s monitor accounts to ensure that payment commitments are made. Credit is an ongoing process, it needs to be evaluated and re-evaluated. If the information gathered indicates a declining financial condition, every effort must be made to protect and reduce our credit exposure.