Operating Funds. From and after the Management Commencement Date, Lessee shall, if and as required, maintain cash in the Hotel Account (“Operating Funds”) sufficient in amount to enable Manager to properly manage and operate the Hotels.
Operating Funds. Owner shall provide all funds necessary to enable Manager to manage and operate the Hotel in accordance with the terms of this Agreement and the License Agreement, regardless of the designation of a portion of the operating costs as Fee Ownership Costs. Owner agrees to deliver to Manager for deposit into the Bank Account(s) on the Effective Date the amount specified on Exhibit "B" which amount shall be the "Minimum Balance" to be maintained by Owner during the first year of the Hotel's operation. The Minimum Balance thereafter shall be no less than the Hotel's operating costs for the preceding fiscal month. The Minimum Balance shall serve as working capital for the Hotel's operations. Owner agrees, upon Manager's written request, to immediately furnish Manager with sufficient funds to make up any deficiency in the Minimum Balance;
Operating Funds. From time to time if and as required, Owner shall maintain cash in the Operating Account (“Operating Funds”) sufficient in amount to properly operate the Hotel (including amounts sufficient to pay those expenses described as deductions from Gross Operating Revenues). If at any time during the Term, the Operating Funds on hand fall below $35,000 (the “Minimum Balance”), Owner shall, within five (5) days after Manager’s written notice to Owner, deposit in the Operating Account additional funds in an amount equal to the difference between the Operating Funds then on hand and the Minimum Balance. The Operating Funds shall at all times be the property of the Owner.
Operating Funds. Monies advanced to, and disbursed by, the Operating Agent on behalf of the Participants in accordance with this Agreement.
Operating Funds. Investment strategies for operating funds and commingled pools containing operating funds have as their primary objective the assurance that anticipated cash flow are matched with adequate investment liquidity. In order to accomplish this, the College District shall maintain xxx- xxxxx balances in short-term investments with necessary li- quidity to ensure that sufficient funds are available for the continued operations of the College District. Funds shall not be invested in securities with stated maturities that exceed the reasonable expected expenditure time period.
Operating Funds. On or before June 1 of each year, Organization shall prepare a work plan and an operating budget for the following year. The annual budget shall budget provide details to support the proposed revenues and expenditures for the Organization. This detail shall be sufficient to meet standard budget and/or accounting principles generally recognized for governmental organizations. Expenditures may include administrative expenses, plan development costs, review expenses, capital improvement costs, Management Programs, Management Studies costs in Section 3.12, and insurance costs as authorized in Section 3.14. Upon the approval of the majority of voting members of the Organization, the budget shall be recommended to the parties for ratification along with a statement showing each party's proposed share of the budget. The budget shall be implemented only after ratification by each party to this Agreement. Failure to ratify or pay its share of the budget by any party to this Agreement shall be subject to the procedures in Section 3.6. Each party shall contribute funds toward the budget according to the following methods: Work Plan – ((PA / WA) + (PV / WV)) / 2 = the party's percentage share of the organization's operating budget. PA = Party's area within the watershed organization area WA = watershed organization area PV = party's market valuation within the watershed organization area WV = market valuation of the watershed organization area Operating Costs – Total amount to be divided equally between each community member of the Joint Powers Agreement. Operating costs per the operating budget are defined as copies, postage, recording secretary fees, insurance, and administrative fee charged to each member community. After ratification the chair or vice-chair shall certify the recommended budget to each party on or before June 1 of each year together with a statement showing the amounts due from each party. Each party shall pay over to the Organization the amount owing in two equal installments, the first on or before January 1 and second on or before July 1 in accordance with the tax year for which the amount due is being paid.
Operating Funds. Grantee shall demonstrate its capacity to provide five (5) years of operating funds for the Project. As set forth at Exhibit B of this Agreement, Grantee shall provide documentary evidence of such capacity prior to disbursement of any Grant funds.
Operating Funds. Operating Funds are Funds used for direct expenditures related to the day-to-day direct delivery of the SAO Program as agreed to with the City. Costs related to the provision of the SAO that can be claimed against Operating Funds include:
Operating Funds. Sponsor shall demonstrate its capacity to provide five (5) years of operating funds for the Project. As set forth at Exhibit B of this Agreement, Sponsor shall provide documentary evidence of such capacity prior to disbursement of any Grant funds.
Operating Funds. The term Operating Funds as used in this Agreement shall have the meaning set forth in Section 6.2 hereof.
