Project Account. (1) A project ac- count will be established and main- tained by HUD as a specifically identi- fied and segregated account for each project. The account will be estab- lished out of the amounts by which the maximum annual commitment exceeds the amount actually paid out under the ACC each year. Payments will be made from this account for housing assist- ance payments (and fees for Agency admininstration, if appropriate) when needed to cover increases in contract rents or decreases in tenant rents and for other costs specifically approved by the Secretary.
Project Account. 26.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Project Account with a Bank (the “Project Account Bank”) in accordance with this Agreement read with the Project Account Agreement.
Project Account. 4.1 The Operator will maintain a separate Project Account that records all income and Eligible Expenditure relating to this Agreement.
Project Account. The Finance Authority shall establish and maintain the Project Account as a book account only, on behalf of the Borrower/Grantee, which account shall be kept separate and apart from all other accounts of the Finance Authority.
Project Account. (1) The Grantee is not required to establish and maintain separate depository accounts for funds received pursuant to this Contract. However, the Grantee must be able to account for the receipt, obligation and expenditure of funds received pursuant to this Contract through some sort of accounting system (the “Project Account”). (2 CFR 200.305(b)(7)(i)). The Grantee shall charge to the Project Account all approved costs of the Project. All such costs, including activities contributed by the Grantee or others and charged to the Project Account, shall be supported by properly executed vouchers or other records indicating in proper detail the nature and propriety of the charge.
Project Account. In order to assure that housing assistance payments will be increased on a timely basis to cover increases in Contract Rents or de- creases in Family Incomes:
Project Account. Without limitation to Section 4.03 of the General Conditions, the Recipient shall, for purposes of making the counterpart contribution to the financing of the Project:
Project Account. (1) A p r ojec t a c- co un t will be es t a blis h ed a n d m a i n- t a i n ed b y HUD a s a specific a ll y ide n t i- fied a n d seg r eg a t ed a cco un t fo r e a c h p r ojec t . T h e a cco un t will co n t a i n t h e s u m of t h e a m o un t s b y w h ic h t h e m a xi- x x x x nnu a l co mm i t m e n t exceeds t h e a m o un t a c t u a ll y p a id o u t fo r t h e p r ojec t un de r t h e ACC e a c h y e a r . P a y- m e n t s will be m a de f r o m t h i s a cco un t w h e n n eeded t o cove r i n c r e a ses i n Co n- t r a c t R e n t s o r dec r e a ses i n G r oss F a m - il y Co n t r ib u t io n s fo r ( i) h o u s i n g a ssis t - a n ce ( i n cl u di n g v a c a n c y) p a y m e n t s, ( ii) t h e a m o un t of t h e fee fo r P HA cos t s of a d m i n i s t r a t io n , a n d ( iii) o t h e r cos t s specific a ll y a pp r oved b y t h e S xx x x x x ry .
Project Account. The Parties agree that, in the interests of clarity, all receivables and payables relating to the Business that are generated or incurred during the term of this Agreement shall be only remitted to and withdrawn from the same dedicated bank account, in accordance with the following provisions:
Project Account. (A) Application before Event of Default: At any time prior to the occurrence of an Event of Default, the Borrower shall use commercially reasonable efforts to apply the balance standing to the credit of the Project Account in accordance with the following order of application:-
