Bank Accounts and Working Capital. Manager shall deposit all funds received from the operation of the Facility in and Operating Account in a bank or banks presently being used by the Facility or such other banks as are designated from time to time by Owner. Owner shall provide sufficient working capital for the operation of the Facility and shall made deposits in the Operating Accounts of such working capital from time to time upon the request of Manager. All costs and expenses incurred in operation of the Facility shall be paid out of the Operating Accounts. All checks or other documents withdrawal must be signed by the Owner. Deposits may be made by Comptroller of the Manager or his designee.
Bank Accounts and Working Capital. Manager shall deposit all funds received from the operation of the Facility in an Operating Account in a bank or banks presently being used by the Facility or such other banks as are designated from time to time by Manager. Operator shall provide sufficient working capital for the operation of the Facility and shall make deposits in the Operating Account of such working capital from time to time.
Bank Accounts and Working Capital. CCMC shall deposit all funds received from the operation of the Facility in an Operating Account in a bank or banks presently being used by the Facility or such other banks as are designated from time to time by CCMC. Owner shall provide sufficient working capital for the operation of the Facility and shall make deposits in the Operating Accounts of such working capital from time to time upon the request of CCMC. All costs and expenses incurred in the operation of the Facility shall be paid out of the Operating Accounts. All checks or other documents withdrawal must be signed by the Comptroller of CCMC or his designate. Deposits may be made by the Comptroller of CCMC or his designate.
Bank Accounts and Working Capital. Manager, in the Facility's name and on behalf of Lessee, shall deposit in a bank account or accounts of the Facility (the "Operating Accounts") established in Lessee's name all funds received from the operations of the Facility. Lessee shall provide sufficient working capital for the operation of the Facility, which shall be deposited into or drawn from the Operating Accounts. All costs and expenses incurred in the operation of the Facility shall be paid out of the Operating Accounts. Manager shall specify the signatory or signatories required on all checks or other documents of withdrawal for the Operating Accounts.
Bank Accounts and Working Capital. Manager shall deposit in a bank or banks designated by Owner all funds received from the operations of the Facility. Owner shall provide sufficient working capital for the operation of the Facility. All costs and expenses incurred in the operation of the Facility (including, but not limited to, the costs and expenses described in Section 2.01 (i) operation and maintenance fund) shall be paid out of the Owner’s appropriate bank accounts. All checks or other documents of withdrawal in excess of $10,000.00 must be signed by any two of the following persons: officer of Manager, a person designated by Owner, or such other persons as Manager and Owner shall designate in writing for this purpose. Deposits may be made by any one of the above persons. All such persons authorized to draw upon the Owner’s bank accounts shall be reasonably bonded or otherwise insured.
Bank Accounts and Working Capital. Except as stated in Section 4(7) of Exhibit XII,
Bank Accounts and Working Capital. Manager, in the Facility's name and on behalf of Owner, shall deposit in a bank account or accounts of the Facility (the "Operating Accounts") established in Owner's name all funds received from the operations of the Facility. Owner shall provide sufficient working capital for the operation of the Facility and shall make deposits in the Operating Account of such working capital from time to time upon the request of Manager. All costs and expenses incurred in the operation of the Facility shall be paid out of the Operating Accounts. Manager shall specify with the approval of the Owner the signatory or signatories required on all checks or other documents of withdrawal for the Operating Accounts.
Bank Accounts and Working Capital. A. Management Company, in the Facility names and on behalf of Owner, shall transfer all Gross Revenues (as defined in the Bond Documents) of the Facility daily, upon receipt, for deposit into one or more separate, segregated bank account or accounts of the Facility established in Owner’s name at a bank selected by Owner (the “Operating Accounts”), provided that upon notice from the Servicing Agent that a Cash Flow Trap Event has occurred under Section 5.8 of the Loan and Financing Agreement, the Management Company shall transfer to the Trustee all Gross Revenues and rental receipts for application as provided in Section 5.8 of the Loan and Financing Agreement.
Bank Accounts and Working Capital. 7.1 Manager, in the name and on behalf of Owner, shall transfer all revenues of the Business as promptly as practicable following receipt thereof, but in no event less frequently than weekly, for deposit into a bank account or accounts established exclusively for that purpose (the "Operating Accounts") established in Owner's name. Manager shall supervise the disbursements from the Operating Accounts on behalf of Owner of such amounts and at such times as the same are required in Manager's reasonable business judgment. Manager shall discharge such supervisory responsibilities in accordance with reasonable and customary business standards and practices. All costs and expenses (including the Management Fee and other
Bank Accounts and Working Capital. Owner shall establish and maintain in a local bank selected by Owner an account or accounts for the operation of the Facility ("Operating Accounts"), in Owner's name and on behalf of Owner, and Operators shall thereafter deposit therein all funds received by Operators on Owner's behalf from the operation of the Facility. It is anticipated that Operators shall have sufficient revenue and working capital to operate the Facility out of the revenue generated by the Facility. Owner shall provide funds for the Operating Accounts, in addition to the revenue generated from the operation of the Facility, in the event that revenue is insufficient, at any point, to pay current expenses. All expenses incurred in connection with the operation of the Facility (including, without limitation, the payment of Operator's Management Fee) shall be paid out of the Operating Accounts. In consultation with Owner and subject to its direction, Operators shall supervise and coordinate the writing of checks and withdrawals from the Operating Accounts to pay for operating the Facility to the extent necessary for the discharge of Operators' obligations hereunder. Replacement Reserve accounts have been established for the Facility. Capital improvements shall be paid out from those Replacement Reserve accounts according to their terms. Operators shall have no obligation to (1) provide or contribute working capital required for the operation of the Facility, or (2) fund capital expenditures required to maintain the Facility in good condition and repair.
