Common use of Duties of Property Manager Clause in Contracts

Duties of Property Manager. (a) Property Manager’s duties as property manager for the Properties include the following for each of the Properties (as may be supplemented with additional duties as detailed in the applicable Property Addendum for each Property) and for Owner, as applicable: (i) For Accounting: (A) Calculate, bxxx and collect rental payments and other charges due to the Owner from tenants in the Properties under the respective tenant leases or otherwise with regard to the Properties. To the extent tenant leases affecting any Property so require, Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants.

Appears in 2 contracts

Samples: Property Management Agreement (United Realty Trust Inc), Property Management Agreement (United Realty Trust Inc)

AutoNDA by SimpleDocs

Duties of Property Manager. (a) Property Manager’s duties as the property manager for the Properties include the following for each of the Properties (as may be supplemented with additional duties as detailed in the applicable Property Addendum for each Property) and for Owner, as applicable: (i) For Accounting: (A) Calculate, bxxx and collect rental payments and other charges due to the Owner from tenants in the Properties under the respective tenant leases or otherwise with regard to the Properties. To the extent tenant leases affecting any Property so require, Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants.

Appears in 2 contracts

Samples: Property Management Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.), Property Management Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.)

AutoNDA by SimpleDocs

Duties of Property Manager. (a) Property Manager’s duties as the property manager for the Properties include the following for each of the Properties (as may be supplemented with additional duties as detailed in the applicable Property Addendum for each Property) and for Owner, as applicable: (i) For Accounting: (A) Calculate, bxxx xxxx and collect rental payments and other charges due to the Owner from tenants in the Properties under the respective tenant leases or otherwise with regard to the Properties. To the extent tenant leases affecting any Property so require, Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants.

Appears in 2 contracts

Samples: Property Management Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.), Property Management Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!