Common use of Manager’s Right to Debit Trust Account Clause in Contracts

Manager’s Right to Debit Trust Account. Owner hereby expressly authorizes Manager to deduct from Owner’s funds in said trust account(s) amounts needed to pay the following expenses (collectively referred to as “Expenses”): (1) management fees, commissions and other amounts owing to Manager; (2) Manager’s out-of-pocket expenses associated with managing the Property including, without limitation, copying costs, postage, mileage expenses at the IRS maximum rate, costs to conduct credit checks, costs associated with evicting tenants, etc.; (3) all costs to maintain, repair and improve the Property including emergency repairs to the extent approved in writing by Owner or to the extent the same have been approved elsewhere herein; and (4) all amounts needed to pay bills for which Manager is responsible for paying under the lease of the Property.

Manager’s Right to Debit Trust Account. Owner hereby expressly authorizes Manager to deduct from Owner’s funds in said trust account(s) amounts needed to pay the following expenses (collectively referred to as “Expenses”): (1) management fees, commissions and other amounts owing to Manager; (2) Manager’s out-of-pocket expenses associated with managing the Property including, without limitation, copying costs, postage, mileage expenses at the IRS maximum rate, costs to conduct credit checks, costs associated with evicting tenants, etc.; (3) all costs to maintain, repair and improve the Property including emergency repairs to the extent approved in writing by Owner or to the extent the same have been approved elsewhere herein; and (4) all amounts needed to pay bills for which Manager is responsible for paying under the lease of the Property.. FOR TRAINING ONLY

Manager’s Right to Debit Trust Account. Owner hereby expressly authorizes Manager to deduct from Owner’s funds in said trust account(s) amounts needed to pay the following expenses (collectively referred to as “Expenses”): (1) management fees, commissions and other amounts owing to Manager; (2) Manager’s out-of-pocket expenses associated with managing the Property including, without limitation, copying costs, postage, mileage expenses at the IRS maximum rate, costs to conduct credit checks, costs associated with evicting tenants, etc.; (3) all costs to maintain, repair and improve the Property including emergency repairs to the extent approved in writing by Owner or to the extent the same have been approved elsewhere herein; and (4) all amounts needed to pay bills for which Manager is responsible for paying under the lease of the Property.. SAMPLE