Examples of PA Account in a sentence
PA shall neither draw checks on the PA Account nor request Business Manager to do so.
Manager shall open the PA Account and shall have exclusive domain and control with a bank (“Bank”) mutually agreed upon by the Parties and whose deposits are insured by the Federal Deposit Insurance Corporation (“FDIC”) and shall deposit therein all collections collected by Manager and PA pursuant to this Agreement.
Business Manager shall have access to the PA Account solely for the purposes contemplated hereby.
To facilitate the payment of ------------------------- the Management Fee as provided in Section 6.1 hereof, PA hereby expressly authorizes Business Manager to make withdrawals of the Management Fee from the PA Account as such fee becomes due and payable during the Term and thereafter as provided in Section 7.3.
Business Manager shall apply on a monthly -------------------- basis, except as otherwise stated hereunder, funds that are in the PA Account in the following order of priority: (i) PA Expenses; (ii) Office Expenses (other than the Base Management Fee); (iii) Management Fees (both Base Management Fee and Performance Fee); and (iv) any other expenditures.
To assure that PA receives the entire amount of professional fees for its services and to assist PA in maintaining reasonable cash flow for the payment of Office Expenses, Business Manager may, during the Term, purchase, without recourse to PA for the amount of the purchase, the accounts receivable of PA arising during the previous month by transferring the amount set forth below into the PA Account.
OF PITTSBURGH, PA Account Number: [______________] Contact: Xxxxx Xxxx, Phone: (000) 000-0000 Name of Nominee in which Notes are to be issued: MAC & CO.
Business Manager shall have access to the PA Account solely ------ for the purposes contemplated hereby.
The term "New PA Account" shall mean the bank account of New PA established as described in Sections 4.8 and 4.9.
To assure that New PA receives the entire amount of professional fees for its services and to assist New PA in maintaining reasonable cash flow for the payment of Office Expenses, Business Manager may purchase, with recourse to New PA for the amount of the purchase, the accounts receivable of New PA arising during the previous month by transferring the amount set forth below into the New PA Account.