AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event the balance in the Operating (and/or) Reserve Account(s) is at any time insufficient to pay disbursements due and payable under paragraphs 4.1, 4.2 and 6.
AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating (and/or) Reserve Account(s) is at any time insufficient to pay disbursements due and payable under paragraphs 4.1 and 4.2 above, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the contingency reserve. In no event shall Agent be required to use its own funds to pay such disbursements. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating (and/or) Reserve Account(s). If Agent elects to advance any money in connection with the Premises to pay any expenses for Owner, such advance shall be considered a loan subject to repayment with interest, and Owner hereby agrees to reimburse Agent, including interest as provided in paragraph 17.7, and hereby authorizes Agent to deduct such amounts from any monies due Owner.
AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the Owner’s balance in the Escrow Account is at any time insufficient to pay disbursements due and payable under Section 4, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency. In no event shall Agent be required to use its own funds to pay such disbursements. Nor shall Agent be required to advance any monies to Owner or to any Escrow Account. Any deficiency in funds owed by Owner shall be considered a loan subject to repayment with interest, and Owner hereby agrees to reimburse Agent, including interest and hereby authorizes Agent to deduct such amounts from any monies due owner. Any sums due Agent under any provision of this Agreement, not paid within thirty (30) days after such sums have become due, shall bear interest at the rate of 20% APR, however, not less than Twenty Five Dollars ($25.) per month, until paid in full. Mailing or E-mailing monthly statement of income and expenses indicating a deficient Owner balance shall be sufficient notice to Owner of balance due. In the event that an action is brought by the Agent to recover any monies due Agent, for services rendered to the Owner as a result of this agreement, Owner agrees to pay Agent’s reasonable attorney’s fee in connection therewith.
AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds to the Association for any purpose whatsoever. Any funds advanced to the Association by Agent shall be repaid to Agent immediately from the Association's funds. Any sums due Agent under any provision of this Agreement, and not paid within thirty (30) days after such sums have become due, shall bear interest at the rate of 12% per annum.
AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds to the Association for any purpose whatsoever. Any funds advanced to the Association by Agent shall be repaid to Agent immediately from the Association's funds.
AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating Account is at any time insufficient to pay disbursements due and payable under this Agreement, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the Initial Deposit balance. In no event shall Agent be required to use its own funds to pay any disbursements on behalf of Owner. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating Account. MDA City Apartments (Recap) 4
AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating Account is at any time insufficient to pay disbursements due and payable under this Agreement, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the Initial Deposit balance. In no event shall Agent be required to use its own funds to pay any disbursements on behalf of Owner. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating Account.
AGENT NOT REQUIRED TO ADVANCE FUNDS. If Agent elects to advance any money in connection with the Premises to pay any expenses for Owner, such advance shall be considered a loan subject to repayment, and Owner hereby agrees to reimburse Agent, and hereby authorizes Agent to deduct such amounts from any monies due Owner. Agent agrees to advance funds for a maximum of three (3) months after the account is reconciled. This includes but is not limited to maintenance repairs, carpet cleaning, residential cleaning, utility bills, part replacement, etc. incurred because of items the owner is responsible for or amounts incurred because of tenants.
AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds from the Association bank account to pay for any of the expenses of the property as delineated in paragraph 5 or for any other purpose whatsoever.
AGENT NOT REQUIRED TO ADVANCE FUNDS. AGENT shall have no obligation to advance funds to the OWNER for any purpose whatsoever. Any funds advanced to the OWNER by AGENT shall be repaid to AGENT immediately from the OWNER's funds. Any sums due AGENT under any provision of this Agreement, and not paid within 10 days after such sums have become due, shall bear interest at the rate of 2.0% per month.
