Collection of Rents and Other Income. Unless otherwise required by any Loan Documents, Property Manager shall xxxx all Tenants for, when appropriate, and shall use commercially reasonable efforts to collect, all rent and other charges due and payable from all Tenants. Property Manager shall have the authority to use all commercially reasonable methods to collect such rent and other charges due, including, without limitation, pursuing litigation against any Tenant. Property Manager shall deposit all monies so collected in the Operating Account.
Collection of Rents and Other Income. Manager shall regularly xxxx all tenants and use its best efforts to collect all rent and other charges due and payable from all tenants or from others for services provided in connection with the Property. Manager is authorized on behalf of Owner to initiate legal action for the collection of all amounts due Owner under tenant leases and enforcements of the terms of said leases. Manager shall deposit promptly all monies so collected in the Operating Account.
Collection of Rents and Other Income. Subject to Section 2.13(b), Manager will use diligent efforts to collect all rents and other charges which may become due at any time from any tenant or from others in connection with or for the use of the Property and will use its best efforts to ensure tenants’ compliance with their respective leases. Manager will collect and identify any income from miscellaneous services provided to tenants or the public from parking income, furniture rental, cleaning services, tenant storage and coin-operated machines of all types. All rents and other monies collected will be deposited in the Operating Account. Manager will not write off any income items without Owner’s prior approval.
Collection of Rents and Other Income. The Property Manager shall xxxx all tenants and shall use its commercially reasonable efforts to collect all rent and other charges due and payable from any tenant or from others for services provided in connection with the Project. The Property Manager shall deposit all monies so collected in the Operating Account (as defined in Section 6.
1). The Property Manager shall allocate all income, revenue and expense from the Project to the Tenants in Common as set forth in the Tenants in Common Agreement.
Collection of Rents and Other Income. Manager shall deposit into Manager’s trust account (“Property Account”) all rents, security deposits, income and any other monies payable to Owner under this Agreement (“Property Funds”) where such Property Funds are received by Manager.
Collection of Rents and Other Income. Manager will use commercially reasonable efforts to collect all rents and other charges which may become due at any time from any tenant or from others in connection with or for the use of the Property and will use diligent efforts to ensure tenants’ compliance with their respective leases. Manager will collect and identify any income from miscellaneous services provided to tenants or the public from parking income, furniture rental, cleaning services, tenant storage and coin-operated machines of all types. Subject to the terms of any outstanding loan documents, all rents and other monies collected will be deposited in the Operating Account.
Collection of Rents and Other Income. (a) Manager, at Owner's expense, shall take all proper and necessary action to enforce the terms of all leases and to collect all rent and other charges due from or payable by tenants or other users of the Property. Owner authorizes Manager to request, receive and deliver receipts for all such rent and other charges, and subject in each instance to the prior approval of Owner, to settle or compromise the payment of such amounts.
(b) If Manager fails to xxxx any tenant properly for the full amount of rent payable under any lease, and tenant fails to pay such amount, Manager promptly shall reimburse Owner any amounts due to Owner upon Owner's written notice to Manager of such failure.
(c) The amount Manager shall reimburse under section 2.4(b) shall include the amount undercharged with interest thereon at the lesser of fifteen percent (15%) per year or the maximum rate of interest permitted under applicable law. At Owner's option, Owner may deduct such amount due to Owner, plus interest, from that portion of the Management Fee thereafter becoming due.
(d) Manager shall collect and identify any income due to Owner from miscellaneous services provided to tenants or the public, including, without limitation, application fees, forfeited deposits, parking income, tenant storage, and coin operated machines of all types, such as vending machines and pay telephones. Manager shall deposit all monies so collected in the Depository Account (defined in Section 8.1).
Collection of Rents and Other Income. (a) Subject to the requirements of the Loan Agreement and the Deposit Account Agreement (as defined in the Loan Agreement), which provides for the direct payment of rent by Tenants into the Clearing Account, Manager shall diligently collect all rents (including escalation xxxxxxxx resulting from increases in expenses, taxes, insurance and common area maintenance charges) and any other fees and charges which may become due at any time from tenants of the Property, (the "Tenants") or from others for services provided in connection with or for the use of the Property or any portion thereof and to collect and identity any income due Owner from miscellaneous services provided to Tenants or the public including, without limitation, parking income, all revenues from work orders, construction charges, loading dock and elevator charges, supervisory or approval charges, license fees, tenant storage, and coin operated machines of all types (e.g., vending machines, pay telephones, etc.). Notwithstanding anything to the contrary in this Agreement, Manager shall only be required to xxxx Tenants annually as follows:
a) a statement setting forth new charges; b) settlement statements for all recovery charges; and c) a detailed invoice for all delinquent charges. All monies so collected shall be deposited in the Clearing Account (as defined in the Loan Agreement).
(b) Manager may not terminate any Lease, lock out Tenants, institute suit for rent or for use and occupancy, or initiate proceedings for recovery of possession of any tenant space unless such action is approved by Owner. Manager shall, on behalf of Owner, utilize commercially reasonable collection procedures as Owner deems appropriate to collect any past due rents or other charges or income with respect to the Property. In connection with any collection efforts only legal counsel or collection firms designated by Owner shall be retained or if Manager so retains, then only if Owner has provided written approval thereof All legal expenses incurred in bringing such approved suit or proceeding shall be submitted to Owner and paid for from the Operating Account, as hereinafter defined.
Collection of Rents and Other Income. The Property Manager shall bill all tenants and shall use its commercially reasonable efforts to collect all rent and other charges due and payable from any tenant or from others for services provided in connection with the Property and agrees to abide fully by the terms of any agreements between or among the Tenants in Common, the Property Manager and the Lender. The Property Manager shall hold in trust all monies collected from the tenants and shall deposit all monies so collected in the Operating Account, unless otherwise required by the Loan Documents. In the event of a conflict between the terms of the Loan Documents and the terms of this Agreement, the terms of the Loan Documents shall control.
Collection of Rents and Other Income. Broker shall use his best efforts to collect all rents and other charges that may become due at any time from Tenant. All monies so collected shall be transmitted to Owner with detail, net any fees or expenses as provided for herein. At the discretion of Broker, any lease may be terminated or legal suit instituted for rent or for use and occupancy or for recovery or possession of the Property. In connection with such suits or proceedings, Broker may retain legal counsel as necessary and appropriate. Broker shall use his best judgment in retaining such legal counsel. All legal expenses including, but not necessarily limited to, attorney’s fees, court costs and process service, incurred in bringing such suits or proceedings shall be at the expense of Owner.
