DISBURSEMENT OF DEPOSITS. The parties to this Agreement agree that deposit monies held on account as specified herein shall only be disbursed under one of the following conditions:
DISBURSEMENT OF DEPOSITS. If requested by Owner, Manager shall remit to Owner with the monthly financial report all unexpended operating funds, except for a reserve of contingencies, as provided in Section 5.01 below, which shall remain in the Operating Account.
DISBURSEMENT OF DEPOSITS. Agent shall disburse and pay from the bank account specified in Section 6.01 hereof, such amounts and at such times as the same are required in connection with the management and operation of the Property in accordance with the provision of this Agreement. As requested by Owner, Agent will disburse to Owner all funds as in the Agent's sole discretion, after providing sufficient reserves, shall be considered available for Owner.
DISBURSEMENT OF DEPOSITS. Manager shall disburse and pay all funds on deposit on behalf of and in the name of Owner, in such amounts and at such times as the same are required in connection with the ownership, maintenance and operation of the Project on account of all taxes, assessments and charges of every kind imposed by any governmental authority having jurisdiction over the Project, and all costs and expenses of maintaining, operating and supervising the operation of the Project, including, but not limited to, the Management Fees due hereunder, salaries, fringe benefits and expenses of the Project employees, insurance premiums, debt service, legal and accounting fees and the cost and expense of utilities, services, marketing, advertising and concessions. To the extent there are insufficient funds to pay all of such costs and expenses, Manager shall pay such of the foregoing items in the order and manner selected by Manager. Nothing in this agreement shall require the Manager to advance money on the Owner’s behalf.
DISBURSEMENT OF DEPOSITS. The Seller acknowledges and agrees that deposit monies held on account by Xxxxxx shall only be disbursed under one of the following conditions:
DISBURSEMENT OF DEPOSITS. Manager shall disburse and pay all funds on behalf of and in the name of Owner in such amounts and at such times as the same are required in connection with the ownership, maintenance and operation of the Project on account of all taxes, assessments and charges of every kind imposed by any governmental authority having jurisdiction over the Project, and all costs and expenses of maintaining, operating and supervising the operation of the Project, including, but not limited to, salaries, fringe benefits and expenses of the Project Employees, insurance premiums, legal and external accounting fees and the cost and expense of utilities, services and concessions. If Owner requests Manager to place or create any services for the Project which are not generally provided at other comparable apartment complexes managed by Manager, Owner shall reimburse Manager for any costs of Manager's staff allocable to the placement and/or creation of such services.
DISBURSEMENT OF DEPOSITS. Manager shall disburse and pay all funds on deposit in the operating accounts maintained hereunder on behalf of, and in the name of, Owner in such amounts and at such times as the same are required in connection with the ownership, maintenance and operation of the Facilities, as applicable, in accordance with the Budget, subject to the limitations set forth in this Agreement, including Section 4.1 above.
DISBURSEMENT OF DEPOSITS. Any Gross Receipts in excess of Operating Expenses and the Owner Payment (the "Net Operating Income") shall be paid to or retained by Manager. Manager shall pay Owner the Owner Payment notwithstanding the amount of Net Operating Income.
DISBURSEMENT OF DEPOSITS. Except as otherwise provided herein (including Section 2.11), Manager shall disburse and pay all funds on deposit on behalf of and in the name of Owner in such amounts and at such times as required in connection with the ownership, maintenance and operation of the Project on account of all costs and expenses of maintaining, operating and supervising the operation of the Project, including, but not limited to, salaries, fringe benefits and expenses of the Project Employees, legal and accounting fees and the cost and expense of utilities, services and concessions. Notwithstanding any other provision of this Agreement to the contrary, Owner shall be responsible for paying directly (and such sums shall not be paid out of the Operating Account) all taxes, assessments and charges of every kind imposed by any governmental authority having jurisdiction over the Project, all insurance premiums for insurance coverage carried by the Owner with respect to the Project, and any and all debt service and loan payments with respect to the Project.
DISBURSEMENT OF DEPOSITS. Manager shall disburse and pay all funds on deposit on behalf of, and in the name of, Owner in such amounts and at such times as the same are required in connection with the ownership, maintenance and operation of the Property on account of all taxes, assessments and charges of every kind imposed by any governmental authority having jurisdiction over the Property, and all costs and expenses of maintaining, operating, and supervising the operation of the Property, including, but not limited to, salaries, fringe benefits and expenses of the Property Employees, insurance premiums, debt services, capital expenditures, legal and accounting fees and the cost and expense of utilities, services and concessions. Owner agrees to reimburse Manager for any costs of Manager's advertising staff that are allocable to the placement and/or creation of advertising for the Property, subject to Owner's approval, which will not be unreasonably withheld. Manager shall properly utilize all escrows and reserves established for their intended purposes and not use operating funds in lieu thereof other than as an advance to be promptly reimbursed.
