Project Control Account and Project Control Ledger Sample Clauses

Project Control Account and Project Control Ledger. The Borrower shall maintain a special account (the “Project Control Account”) at Credit Suisse First Boston, New York, New York and such account shall be titled “Project Control Account”. The Agent shall have exclusive possession of and sole dominion and control over the Project Control Account in accordance with the terms of this Agreement. The Agent shall maintain a ledger (the “Project Control Ledger”) with respect to the Roanoke Account and such ledger shall be titled “Project Control Ledger”. The Roanoke Account (for the sole account of the Project Control Ledger) shall be maintained so long as there exists any amount in any of the funds or accounts created under the Series 0000 Xxxxxxxxx or the Series 1993 Indenture. Until the Tranche B Conversion Date, Borrower shall maintain a sub-ledger within the Project Control Ledger of the Roanoke Account (the “Rova II Sub-Ledger”) into which all Cash Revenues from the Rova II Facility shall be deposited. All Cash Revenues (and insurance proceeds not required to be deposited in the Roanoke Account (for the sole account of the Contingency Ledger) pursuant to Section 6.1(i) hereof) shall be deposited in the Roanoke Account (for the sole account of the Project Control Ledger), except that prior to the Tranche B Conversion Date, all Cash Revenues from the Rova II Facility shall be deposited into the Roanoke Account (for the sole account of the Rova II Sub-Ledger). Borrower has irrevocably instructed all parties paying Cash Revenues to Borrower, and shall so instruct all other parties at any time paying Cash Revenues to Borrower, to make such payments into the Roanoke Account (for the sole account of the Project Control Ledger) and, until the Tranche B Conversion Date, Cash Revenues from the Rova II Facility to be deposited into the Roanoke Account (for the sole account of the Rova II Sub-Ledger). In addition, Borrower shall maintain a second sub-ledger within the Project Control Ledger of the Roanoke Account (the “Checking Sub-Ledger”) against which checks may be drawn by Borrower for the payment of Cash Expenses. The balance in the Roanoke Account (for the sole account of the Checking Sub-Ledger) shall not exceed the aggregate amount of all checks outstanding and to be drawn against such ledger. Borrower shall not make transfers from the Roanoke Account (for the sole account of the Project Control Ledger) to the Roanoke Account (for the sole account of the Checking Sub-Ledger) more than three times in any month (...
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Related to Project Control Account and Project Control Ledger

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Deposit Account Control Agreement control agreement satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account.

  • Control of Joint Accounts Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature or authenticated request of any other owner(s). Any owner may withdraw or transfer funds, pledge to us all or any part of the shares, or stop payment on items without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners in order to act.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Management Accounts The Management Accounts:

  • Account Control Agreements Account Control Agreements for all of Borrower’s deposit accounts and accounts holding securities duly executed by all of the parties thereto, in the forms provided by or reasonably acceptable to Lender.

  • Foreign Assets/Account Reporting Information Italian residents who, during the fiscal year, hold investments abroad or foreign financial assets (e.g., cash, Shares and RSUs) which may generate income taxable in Italy are required to report such on their annual tax returns (UNICO Form, RW Schedule) or on a special form if no tax return is due. The same reporting obligations apply to Italian residents who, even if they do not directly hold investments abroad or foreign financial assets (e.g., cash, Shares and RSUs), are beneficial owners of the investment pursuant to Italian money laundering provisions.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

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