Minimum Reserve. It is the Owners option to maintain a Minimum Reserve with Agent. Agent may (but shall not be required to) advance its own funds for purchases, services, repairs, maintenance, & etc..... in which event Owner shall reimburse Agent upon demand the full amount advanced. Agent may withhold all amounts payable to Owner for a period of 45 days after the termination of this Agreement to pay bills previously incurred and to close accounts.
Appears in 3 contracts
Samples: Management Agreement (Property Management Corp of America), Management Agreement (Property Management Corp of America), Management Services Agreement (Property Management Corp of America)
Minimum Reserve. It is the Owners option to maintain a Minimum Reserve with Agent. Agent may (but shall not be required to) advance its own funds for purchases, services, repairs, maintenance, & etc..... in which event Owner shall reimburse Agent upon demand the full amount advanced. Agent may withhold all amounts payable to Owner for a period of 45 days da ys after the termination of this Agreement to pay bills previously incurred and to close accounts.
Appears in 1 contract
Samples: America Management Agreement
