Management Funds Sample Clauses

Management Funds. Manager to keep proper account (1) (a) All monies collected by the Manager (who shall be deemed to be a trustee for and on behalf of the Owners in respect of all monies and deposits received on their behalf) in the exercise of its powers and duties hereunder (save and except that the Manager may retain or pay into a current account a reasonable amount to cover expenditure of a minor nature as is from time to time determined by a resolution of the Owners’ Committee (if any) and also subject to such conditions as may be approved by a resolution of the Owners’ Committee) shall without delay be paid into (i) an interest-bearing bank account or accounts of the Manager (such bank account(s) shall be opened and maintained with a bank within the meaning of Section 2 of the Banking Ordinance (Cap.155) and the title of which refers to the management of the Development); or (ii) if there is an Owners’ Incorporation, the account or accounts opened and maintained under Sub-Clause (1)(b) below. The Manager shall use that account(s) exclusively for the management of the Development and keep true and proper accounts of all such monies and the expenditure thereof and shall produce a detailed summary of such accounts each month and shall after the close of every financial year produce an annual set of accounts as soon as the accounts are certified by the auditors referred to in Clause (3) of the Subsection (F) as providing an accurate summary of all items of income and expenditure during the preceding year. The Manager shall maintain proper books or records of account and other financial records and shall keep all bills, invoices, vouchers, receipts and other documents referred to in those books and records for at least 6 years. (b) Without prejudice to the generality of Sub-Clause (1)(a) above, if there is an Owners’ Incorporation, the Manager shall open and maintain one or more segregated interest-bearing accounts (such account(s) shall be opened and maintained with a bank within the meaning of Section 2 of the Banking Ordinance (Cap.155), the title of which refers to the management of the Development), each of which shall be designated as a trust account or client account, for holding money received by him from or on behalf of the Owners’ Incorporation in respect of the management of the Development. (c) The Manager shall display a document showing evidence of any account opened and maintained under Sub-Clauses(1)(a) or (1)(b) above in a prominent place in the Developmen...
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Management Funds. Concurrent with the recordation of this Conservation Easement and as reflected in Recital F, above, Grantee received a one-time distribution of Dollars ($ ) in management funds (the “Management Funds”), of which Dollars ($ ) shall be a non-wasting endowment. Grantee may spend the Management Funds on any property interest held by Grantee for XX in Sacramento County for any purpose related to such property interest in the Grantee’s sole and absolute discretion, including, but not limited to, management, monitoring, enforcement, or restoration..
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Management Funds. Manager to keep proper account
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Management Funds. 16. (a) (i) The Manager shall be deemed to be a trustee for and on behalf of the Owners in respect of all money received on their behalf and unless otherwise authorized by the Owners' Committee must pay the money into a specifically designated interest bearing account in respect of the Building at a licensed bank. The Manager may retain a reasonable amount to cover day-to-day expenditure, such amount to be approved from time to time by the Owners' Committee and the Manager shall keep proper accounts of all such money and the expenditure thereof and shall once every year produce an annual set of accounts to the Owners which accounts will be certified by the Authorized Accountant hereinafter referred to as providing an accurate summary of all items of income and expenditure during the preceding year. (ii) There shall be established and maintained by the Manager as trustee for and on behalf of the Owners at such time as it shall deem appropriate Building Special Fund towards payment of expenses of a capital nature for the replacement or improvement of installation, plant and equipment in respect of the Building Common Areas and Building Common Facilities and/or for the proper management of the Building Common Areas and Building Common Facilities and such fund shall not be refundable nor transferable Provided always that such fund shall be the property of the Owners and shall be deposited in a specifically designated interest bearing bank account designated as a trust account for the Owners. Special reference shall be made to the Building Special Fund in the annual accounts and an estimate shall be given as to the time of any likely need to draw on the fund. Any contribution to such fund and the time and manner for making such contribution shall be approved by the Owners in annual meeting. (iii) There shall be established and maintained by the Manager as trustee for and on behalf of the Residential Owners at such time as it shall deem appropriate Residential Special Fund towards payment of expenses of a capital nature for the replacement or improvement of installation, plant and equipment in respect of the Residential Common Areas and Residential Common Facilities and/or for the proper management of the Residential Common Areas and Residential Common Facilities and such fund shall not be refundable nor transferable Provided always that such fund shall be the property of the Residential Owners and shall be deposited in a specifically designated interest bearing...
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Management Funds. (a) The Manager shall be deemed to be trustee for and on behalf of the Owners in respect of the Management Funds irrespective of changes in ownership of the Undivided Shares.
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Management Funds. 11. (a) The Manager shall open and maintain separate interest-bearing accounts and shall use that account(s) exclusively in respect of the management of the Development.
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Related to Management Funds

  • Settlement Fund All payments under this Section IV shall be made into the Settlement Fund, except that, where specified, they shall be made into the Settlement Fund Escrow. The Settlement Fund shall be allocated and used only as specified in Section V.

  • GRANT FUNDS The Provider will not commingle grant funds (payments and reimbursements made under this Agreement) with other personal or business accounts. The U.S. Department of Justice, DOJ Grants Financial Guide does not require physical segregation of cash deposits or the establishment of any eligibility requirements for funds which are provided to a Provider. The Provider’s accounting systems must ensure grant funds are not commingled with funds on either a program-by-program or a project-by-project basis. Grant funds specifically budgeted and received for one project may not be used to support another. Where the Provider's existing accounting system cannot comply with this requirement, the Provider will establish an additional accounting system to provide adequate grant fund accountability for each project. In accordance with the provisions of section 287.0582, Florida Statutes, if the terms of this Agreement and reimbursement contemplated by this Agreement extend beyond the current fiscal year, the OAG's performance and obligation to reimburse under this Agreement are contingent upon an annual appropriation and spending authority by the Florida Legislature. In addition, the OAG’s performance and obligation to reimburse under this Agreement is contingent upon the OAG's Victims of Crime Act award, as funded through the U.S. Department of Justice, Office for Victims of Crime formula grant program.

  • Match Funds The goal of this subtask is to ensure that the Recipient obtains any match funds planned for this Agreement and applies them to the Agreement during the Agreement term. While the costs to obtain and document match funds are not reimbursable under this Agreement, the Recipient may spend match funds for this task. The Recipient may only spend match funds during the Agreement term, either concurrently or prior to the use of Energy Commission funds. Match funds must be identified in writing, and the Recipient must obtain any associated commitments before incurring any costs for which the Recipient will request reimbursement. The Recipient shall: • Prepare a Match Funds Status Letter that documents the match funds committed to this Agreement. If no match funds were part of the proposal that led to the Energy Commission awarding this Agreement and none have been identified at the time this Agreement starts, then state this in the letter. If match funds were a part of the proposal that led to the Energy Commission awarding this Agreement, then provide in the letter: o A list of the match funds that identifies:  The amount of cash match funds, their source(s) (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied.  The amount of each in-kind contribution, a description of the contribution type (e.g., property, services), the documented market or book value, the source (including a contact name, address, and telephone number), and the task(s) to which the match funds will be applied. If the in-kind contribution is equipment or other tangible or real property, the Recipient must identify its owner and provide a contact name, address, telephone number, and the address where the property is located.  If different from the solicitation application, provide a letter of commitment from an authorized representative of each source of match funding that the funds or contributions have been secured. • At the Kick-off meeting, discuss match funds and the impact on the project if they are significantly reduced or not obtained as committed. If applicable, match funds will be included as a line item in the progress reports and will be a topic at CPR meetings. • Provide a Supplemental Match Funds Notification Letter to the CAM of receipt of additional match funds. • Provide a Match Funds Reduction Notification Letter to the CAM if existing match funds are reduced during the course of the Agreement. Reduction of match funds may trigger a CPR meeting. Products: • Match Funds Status Letter • Supplemental Match Funds Notification Letter (if applicable) • Match Funds Reduction Notification Letter (if applicable)

  • MANAGEMENT FUNCTIONS B-1 The Association recognizes that the management of the Hospital and the direction of the working forces are fixed exclusively in the Hospital and shall remain solely with the Hospital except as specifically limited by the provisions of this Agreement, and without restricting the generality of the foregoing, the Association acknowledges that it is the exclusive function of the Hospital to:

  • Retirement Fund The sum of $ 7.90, May 1, 2019 (May 1, 2020 $8.07; May 1, 2021 $ 8.24) per paid hour; ex- cept that Apprentices starting after April 30, 1997 will have this amount pro-rated in ac- cordance with their term level;

  • Good Funds All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing 120 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified 121 check, savings and loan teller’s check and cashier’s check (Good Funds).

  • 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.

  • Provident Fund (1) The Provident Fund for the Clothing Industry (Free State and Northern Cape), (hereinafter referred to as the "Northern Chamber Fund"), originally established on the 1st pay day in September 1971 in terms of Government Notice No' R. 321 dated 1 March 1974, is hereby dissolved.

  • MANAGEMENT FUNCTION 3.01 The Union recognizes the right of the Company to hire, promote, transfer, demote and layoff employees and to suspend, discharge or otherwise discipline employees for just cause subject to the right of any employee to lodge a grievance in the manner and to the extent as herein provided. The Union further recognizes the right of the Company to operate and manage its business in all respects, to maintain order and efficiency in its operations, and to determine the location of its operations, its products, the scheduling of its operations and its methods, processes, and means of conducting its business. The Union further acknowledges that the Company has the right to make and alter, from time to time, rules and regulations to be observed by employees, which rules and regulations shall not be inconsistent with the provisions of this Agreement.

  • The Settlement Fund 37. Releasors shall look solely to the Settlement Fund for settlement and satisfaction of all Released Claims against the DENSO Defendants and the Releasees, and shall have no other recovery against the DENSO Defendants or any other Releasee for any Released Claims.

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