Common use of Manager Disbursements Clause in Contracts

Manager Disbursements. Except as otherwise directed by the Venture, Manager shall from the funds on deposit in the Operating Account described in Section 7.2 below, cause to be disbursed the amounts necessary to pay regularly and punctually amounts due and payable as operating expenses of the Premises authorized to be incurred under the terms of this Agreement, including without limitation, payment of sums due on any mortgage loan affecting the Premises, payment prior to delinquency and prior to the addition thereon of interest or penalties of all real property taxes and assessments and other taxes levied or assessed against the Premises, all rents, insurance premiums and other impositions applicable to the Premises, the administration fee and the Manager's fee provided for in Article VI. After disbursement as herein specified, any balance remaining shall be disbursed or transferred as generally or specifically directed from time to time by Venture. Manager shall have no obligation to pay any of the aforementioned expenses or costs unless there are sufficient funds in the Operating Account described in Section 7.2 below or the funds shall be supplied to Manager by the Venture. In the event that at any time there are insufficient funds on hand to meet such operating expenses, Manager shall promptly notify the Venture, which shall supply such funds, and if Manager shall have advanced its own funds to meet such expenses, the Venture shall promptly reimburse Manager therefor. All checks to Manager for reimbursement of expenses and for the Management Fee (as defined below) shall be co-signed by a Venturer of the Venture.

Manager Disbursements. Except as otherwise directed by Owner and subject to the Venturelimitations of SECTION 2.1(B), Manager shall shall, from the funds on deposit in the Operating Account described (defined in Section 7.2 SECTION 5.2 below), cause to be disbursed the amounts necessary to pay regularly and punctually amounts due and payable as operating expenses of the residential portions of the Premises authorized to be incurred under the terms of this Agreement, including (without limitation) payment of utility bills, telephone bills, custodial bills, trash removal bills, water and sewer rents, vault charges and leasing commissions, payment of sums due on any mortgage loan affecting the Premises, payment (if directed by Owner) prior to delinquency and prior to the addition thereon thereof of interest or penalties of all real property taxes and assessments and other taxes levied or assessed against the residential portions of the Premises, all rents, insurance premiums and other impositions applicable to the residential portions of the Premises, the administration fee and the . Manager's fee fees provided for in Article VIARTICLE IV, any reimbursement due to Manager pursuant to SECTION 5.3, and if requested by Owner, payment of sums due on any mortgage loan affecting the residential protions of the Premises. Manager may also pay sums due on such mortgage loans if permitted by the terms of the Joint Venture Agreement. After disbursement as herein specified, any balance remaining shall be disbursed disbured or transferred as generally or specifically directed from time to time by VentureOwner. Manager shall have no obligation to pay any of the aforementioned expenses or costs unless there are sufficient sufficent funds in the Operating Account described in Section 7.2 below or the funds shall be are supplied to Manager by the VentureOwner. In the event that at any time there are insufficient funds on hand to meet such operating expenses, Manager shall promptly notify the VentureOwner, which shall supply such funds, and if Manager shall have advanced its own funds to meet such expenses, the Venture expenses Owner shall promptly reimburse Manager therefor. All checks to Manager Manger for reimbursement of expenses and for the Management Fee (as defined below) Manger's fees and all checks for payment of leasing commissions shall be co-signed by a Venturer of the VentureOwner.

Manager Disbursements. Except as otherwise directed by Owner and subject to the Venturelimitations of Section 2.1(b), Manager shall shall, from the funds on deposit in the Operating Account described (defined in Section 7.2 5.2 below), cause to be disbursed the amounts necessary to pay regularly and punctually amounts due and payable as operating expenses of the commercial portion of the Premises authorized to be incurred under the terms of this Agreement, including (without limitation) payment of utility bills, telephone bills, custodial bills, trash removal bills, water and sewer rents, vault charges and leasing commissions, payment of sums due on any mortgage loan affecting the Premises, payment (if directed by Owner) prior to delinquency and prior to the addition thereon thereof of interest or penalties of all real property taxes and assessments and other taxes levied or assessed against the commercial portion of the Premises, all rents, insurance premiums and other impositions applicable to the commercial portion of the Premises, the administration fee and the Manager's fee fees provided for in Article VIIV, any reimbursement due to Manager pursuant to Section 5.3, and if requested by Owner, payment of sums due on any mortgage loan affecting the commercial portion of the Premises. Manager may also pay sums due on such mortgage loans if permitted by the terms of the Joint Venture Agreement. After disbursement as herein specified, any balance remaining shall be disbursed or transferred as generally or specifically directed from time to time by VentureOwner. Manager shall have no obligation to pay any of the aforementioned expenses or costs unless there are sufficient funds in the Operating Account described in Section 7.2 below or the funds shall be are supplied to Manager by the VentureOwner. In the event that at any time there are insufficient funds on hand to meet such operating expenses, Manager shall promptly notify the VentureOwner, which shall supply such funds, and if Manager shall have advanced its own funds to meet such expenses, the Venture expenses Owner shall promptly reimburse Manager therefor. All checks to Manager for reimbursement of expenses and for the Management Fee (as defined below) Manager's fees and all checks for payment of leasing commissions shall be co-signed cosigned by a Venturer of the VentureOwner.

Manager Disbursements. Except as otherwise directed by the Venture, Manager shall from the funds on deposit in the Operating operating Account described in Section 7.2 5.2 below, cause to be disbursed the amounts necessary to pay regularly and punctually amounts due and payable as operating expenses of the Premises authorized to be incurred under the terms of this the Agreement, including without limitation, payment of sums due on any mortgage loan affecting the Premises, payment prior to delinquency and prior to the addition thereon of interest or penalties of all real property taxes and assessments and other taxes levied or assessed against the Premises, all rents, insurance premiums and other impositions applicable to the Premises, the administration fee fees of the "Leasing Agent" under that certain Leasing Agreement of even date herewith between the Venture and C-H Leasing Associates, a Georgia general partnership and the Manager's fee provided for in Article VIV hereof. After disbursement as herein specified, any balance remaining shall be disbursed or transferred as generally or specifically directed from time to time by the Venture. Manager shall have no obligation to pay any of the aforementioned expenses or costs unless there are sufficient funds in the Operating Account described in Section 7.2 5.2 below or the funds shall be supplied to Manager by the Venture. In the event that at any time there are insufficient funds on hand to meet such operating expenses, Manager shall promptly notify the Venture, which shall supply such fundsfunds to the extent required to pay amounts within the then current approved Annual Budget or otherwise agreed to by the Venture. In no event shall Manager be entitled to advance any funds as a loan to the Venture for any purpose, and if Manager the repayment of any funds so advanced shall have advanced its own funds to meet such expenses, not be an obligation of the Venture shall promptly reimburse Manager thereforVenture. All checks to Manager for reimbursement of expenses and for in excess of the Management Fee (as defined below) amount provided therefor in the approved Annual Budget shall be co-signed by a duly authorized representative of a Venturer of the Venture.