Separate Accounting Clause Samples
The Separate Accounting clause requires that financial records and accounts related to a specific project, contract, or business activity be maintained independently from other operations. In practice, this means that all revenues, expenses, and transactions associated with the relevant activity must be tracked and reported separately, often using distinct ledgers or accounting codes. This approach ensures transparency and accuracy in financial reporting, helping to prevent the commingling of funds and making it easier to audit or verify compliance with contractual or regulatory requirements.
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Separate Accounting. Our policies may permit separate accounting to be applied to your ▇▇▇ for the benefit of your beneficiaries. If permitted, separate accounting must be applied in accordance with Treasury Regulation 1.401(a)(9)-8, Q&A 2 and 3. A beneficiary is considered the only designated beneficiary of his/her share of the ▇▇▇ assets if separate accounting applies.
Separate Accounting. Contractor shall establish a separate account for all funds specified in this Agreement and shall use the funds to purchase necessary supplies, defray travel, and will employ the necessary personnel to perform the Work specified in this Agreement. Contractor shall also establish and maintain, if applicable, such accounting and documentation of matching expenditures of the Contractor to satisfy the requirements of the project.
Separate Accounting. If this Contract includes both Restricted Elective Deferrals and other Contributions and the Restricted Elective Deferrals are not separately accounted for by the Company, distributions may not be made earlier than the later of (1) any date permitted under paragraph b, and
Separate Accounting. Municipality shall deposit and maintain all funding received from any source for the Project in a segregated fund or account, which shall be subject to audit pursuant to Article 8. Any interest earned by Municipality on any funds provided under this Agreement shall be credited against the funding otherwise due from County under this Agreement and must be utilized by Municipality solely in accordance with the terms of this Agreement. Upon prior written approval by the Contract Administrator, Municipality may utilize other methods of separate accounting for the Project funds provided the accounting method permits a full and complete audit of the funds as required by Article 8.
Separate Accounting. The CONTRACTOR will establish a separate account for all funds specified in this AGREEMENT and will use the funds to purchase necessary supplies, defray travel, and will employ the necessary personnel to perform the Work specified in this AGREEMENT. The CONTRACTOR shall also establish and maintain, if applicable, such accounting and documentation of matching expenditures of the CONTRACTOR to satisfy the requirements of the PROJECT.
Separate Accounting. Separate records will be maintained for the interest of each Individual under an IRA established by the Employer.
Separate Accounting. Upon receipt of a domestic relations order, the Plan Administrator will separately account for and preserve the amounts that would be payable to an Alternate Payee until a determination is made with respect to the status of the order. During the period in which the status of the order is being determined, the Plan Administrator will take whatever steps are necessary to ensure that amounts that would be payable to the Alternate Payee, if the order were a QDRO, are not distributed to the Participant or any other person. The separate accounting requirement may be satisfied, at the Plan Administrator’s discretion, by a segregation of the assets that are subject to separate accounting.
Separate Accounting. The Subrecipient will establish a separate account for all funds specified in this Subaward. Reimbursement is only for actual expenses for transactions transpiring between July 01, 2019 and June 30, 2020. No Encumbrances and/or Commitments will be considered towards reimbursement.
Separate Accounting. All of the revenues, expenses and obligations of Owner related to the Hospital prior to the Effective Date shall be managed in the Old Bank Accounts and records that are separate from the New Bank Accounts and records that are used to operate the Hospital on or after the Effective Date. Owner shall have the right to audit all financial information and/or books with respect to Manager’s and the Hospital’s performance under the terms of this Agreement.
Separate Accounting. MLFIP and MLF shall account separately for all trades and all assets of each Client, and such trades and assets shall in no event be commingled with those of any other Client.