Examples of New Property Manager in a sentence
If Grantor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Grantor shall promptly provide Beneficiary with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
If Grantor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Grantor shall promptly provide Grantee with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
Upon the occurrence of a default by New Property Manager under the New Property Management Agreement that would entitle Seller to terminate the New Property Management Agreement (after the expiration of any applicable notice and/or cure periods under the New Property Management Agreement), then such default shall also constitute a default by Purchaser under Section 13.1 of this Agreement.
After the expiration of the Due Diligence Period, Purchaser shall have the right to participate in a weekly call with Seller and Existing Property Manager or New Property Manager, as applicable, to discuss operation of the Property, which shall be scheduled by Seller at the request of Purchaser, and which for the avoidance of doubt shall be a separate call from Seller’s operation calls with its property manager.
Provided that this Agreement is not previously terminated, upon ten (10) days written notice from Purchaser (provided that such notice may not be given until the New Property Management Approval is obtained), Seller shall (i) cause the Existing Property Management Agreement to be terminated, and (ii) enter into the New Property Management Agreement with New Property Manager.
Purchaser and New Property Manager shall reasonably cooperate with Seller and Seller’s lender in connection with Seller’s pursuit of the New Property Management Approval, including but not limited to entering into any commercially reasonable loan documentation required by Seller’s Lender as a condition of the New Property Management Approval.
If Mortgagor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Mortgagor shall promptly provide Mortgagee with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
KRE TOPAZ PORTFOLIO INVESTOR LLC, a Delaware limited liability company By: /s/ Mxxxxxx Xxxxxxxxx Name: Mxxxxxx Xxxxxxxxx Title: VP JOINDER OF NEW PROPERTY MANAGER New Property Manager has executed this Agreement for the limited purpose of agreeing to the terms of Section 3.4(a) applicable to it.
Each Seller shall prepare a proration schedule (the “Proration Schedule”) of the adjustments described in this Section 6.5 prior to Closing and Purchaser and New Property Manager shall, in good faith, assist each Seller in the preparation of such Proration Schedules).
On a Property-by-Property basis, and provided that the applicable Seller is not in default under this Agreement and as more particularly described below, prior to October 6, 2008, Sellers and Purchaser agree that each Seller shall enter into a Management Agreement with New Property Manager (as defined in this Section 6.1.4), Sellers shall deliver to Purchaser the Guaranty, and updated Rent Rolls.