Owner’s account Clause Samples

Owner’s account. All Restaurant receipts (including all cash and credit card receipts) shall be deposited on a daily basis (except for weekends or bank holidays where funds shall be deposited on the first available business day) into an account in the name of and under Owner's sole control ("Owner's Account") and shall be confirmed by the Cashier. Most of the daily expenses of the Restaurant shall be paid for from the Working Capital Account; however any rent payments due the City, the State of Florida or any affiliate of Owner for rent; real estate taxes, and capital expenditures shall be paid for from the Owner's Account. Operator shall prepare for Owner's signature all checks for such payments, which payments shall be consistent with the Annual Operating Budget. Operator shall also prepare monthly account reconciliations for the Owner's Account and provide the same to Owner together with the Monthly Statement. The Owner Account reconciliations shall be certified as true and correct by Stephen J. Kneapler on behalf of Operator.

Owner’s account. Owner transfers $500 to Manager as an account-opening deposit. Owner agrees to maintain a minimum cash reserve of $500 in addition to and separate from any security deposits. This cash reserve shall be used as needed to pay costs diligently incurred by Manager or due Manager in fulfilling Manager’s obligations, including but not limited to advertising expenses, approved maintenance, recurring bills and Manager’s fees associated with Property. Security deposit funds may not be used towards expenses unless chargeable to the Tenant after the Tenant vacates the property. Owner agrees to advance additional funds when necessary to maintain the minimum reserve or pay expenses as needed. Manager is not obligated to, in the management of Property, expend on behalf of Owner funds not available in Owner’s account. Owner agrees to submit funds within 10 days after a request for additional funds is made. When for any reason funds in Owner’s account are insufficient to pay all liabilities for Property, funds will be disbursed in the following order of priority: a) any fees, charges or expenses due under this agreement, b) delinquent maintenance invoices, c) delinquent utility bills, d) mortgage payments, e) maintenance invoices, f) utilities and other bills, g) cash reserve maintenance and h) owner distribution. Owner agrees to pay late charges, interest and any other penalties caused by lack of sufficient funds when Manager has requested such funds.

Owner’s account. The Co-Manager agrees not to access the Owner’s Burbz account and, instead, will utilize the Co-Manager’s personal Burbz account.

Owner’s account. All payments to the Owner shall be made by wire transfer of immediately available federal funds to the following account (the “Owner’s Account”): Account of: DALLAS CONVENTION CENTER HOTEL DEVELOPMENT CORPORATION Account Number: ABA Number: Attention: with sufficient information to identify the source and application of such funds and with written confirmation as provided herein.

Owner’s account