Facility Management Agreement Clause Samples
A Facility Management Agreement clause outlines the terms under which one party is responsible for operating, maintaining, and managing a facility on behalf of another party. This clause typically details the scope of services, performance standards, reporting requirements, and compensation arrangements for the management company. By clearly defining the roles and responsibilities, it ensures that the facility is managed efficiently and that both parties understand their obligations, thereby reducing the risk of disputes and ensuring smooth facility operations.
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Facility Management Agreement. The termination of the Facility Management Agreement related to the Rattlesnake Project shall have been fully executed and delivered to Seller.
Facility Management Agreement. The termination of each Facility Management Agreement related to a Project owned by BH Class B Holdings, CR Class B Holdings, IPB Holdings and RSW Class B Holdings shall have been fully executed and delivered to Purchaser.
Facility Management Agreement. The agreement between the Corporation and the Facility Manager authorizing the Facility Manager to manage the day to day operation of the Property, which Facility Management Agreement shall be acceptable in form to the City.
Facility Management Agreement. The following Special Conditions of Facility Management Agreement (SCSFMA) shall supplement the General Conditions of Facility Management Agreement (GCFMA). Whenever there is a conflict, the provisions herein shall prevail over those in the GCFMA:
Facility Management Agreement. The parties hereto acknowledge and agree that (a) the Westbury Facility is not subject to a Facility Management Agreement; and (b) until such time, if ever, as the Westbury Facility is subject to a Facility Management Agreement, (1) there shall be no Facility Management Agreement to terminate for the Westbury Facility in the event of a Management Termination Event, (2) there shall be no payments due and owing to Manager in connection with the Westbury Facility, and (3) BLC Holdings shall have no right to cause Westbury Lessee to terminate the Westbury Lease pursuant to Paragraph 28(c) of the Agreement. The lack of a Facility Management Agreement for the Westbury Facility shall otherwise have no implications with respect to the Agreement. In accordance with the terms of this Paragraph and Paragraph 3 above, notwithstanding that there is no Facility Management Agreement for the Westbury Facility, Westbury Lessor shall be entitled to exercise, either jointly with PSLT-BLC Holdings or independently, all rights and remedies granted to PSLT-BLC Holdings under the Agreement, including, without limitation, those remedies granted to PSLT-BLC Holdings in the event of a Management Termination Event under Paragraph 28(b) of the Agreement.
Facility Management Agreement. Except as the Association shall otherwise agree, the terms and conditions of the Facility Management Agreement shall, inter alia, provide that:
1. The Facility Advisor shall assist Bangladesh Bank to manage, operate and administer the Facility in accordance with the Operational Directives and sound administrative and financial standards and practices.
2. The Facility Advisor shall duly perform all its obligations under the Facility Management Agreement. Except as Bangladesh Bank, the Borrower and the Association shall otherwise agree, the Facility Advisor shall not take or concur in any action which would have the effect of assigning, amending, abrogating or waiving the Facility Management Agreement, or any provision thereof.
3. The Facility Advisor shall, at the request of the Bangladesh Bank, exchange views with Bangladesh Bank, the Borrower and the Association with regard to the performance of its obligations under the Facility Management Agreement and other matters relating to the purposes of the Facility and the Credit.
4. The Facility Advisor shall promptly inform Bangladesh Bank, the Borrower and the Association of any condition which interferes or threatens to interfere with the accomplishment of the purposes of the Facility or the Credit or the performance by the Facility Advisor of its obligations under the Facility Management Agreement, the Master Facility Agreement and the Facility Access Agreements.
5. The Facility Advisor shall provide to Bangladesh Bank monthly, quarterly and semiannual reports in a format satisfactory to Bangladesh Bank, the Borrower and the Association, setting out, inter alia, the demand and utilization of Facility Loans and all relevant data relating to the resource mobilization aspects of PFI’s operations.
Facility Management Agreement. The agreement between the Corporation and the Facility Manager authorizing the Facility Manager to manage the day-to-day operation of the Property, which Facility Management Agreement shall be acceptable in form to the City. Funding Documents: This Agreement and all other documents now or hereafter executed by the Corporation or any other Person to evidence, secure or guarantee the performance and discharge of the Obligations. Governmental Authority: Any court, board, agency, commission, office for any governmental unit (federal, state, county, district, municipal, city or otherwise) whether now or hereafter in existence.
Facility Management Agreement. 18 Final Financial Statements; Final Balance Sheet.................4 1.19 Financial Statements of the Facilities..........................4 1.20 Guaranty........................................................4 1.21
Facility Management Agreement. The Facility Management Agreement shall have been terminated effective as of the Closing Date.