Common use of Project Account Clause in Contracts

Project Account. On behalf of the Sponsored Organization, the Fiscal Sponsor shall establish and operate for the use of the Project a designated account (“Account”) segregated on the Fiscal Sponsor’s books. All amounts deposited into a Project’s Account shall be used in its support, less administrative charges, if any, and subject to the conditions set forth in this agreement.

Project Account. On behalf of the Sponsored Organization, the Fiscal Sponsor shall will establish and operate for the use of the Project a designated account (“Account”) segregated on the Fiscal Sponsor’s books. All amounts deposited into a Project’s Account shall will be used in its support, less administrative charges, if any, and subject to the conditions set forth in this agreement.