Operating Account Deficiency. If there are not sufficient funds in the Operating Account to make any payment referenced in Section 7, Property Manager shall notify Company, if possible, at least ten (10) days prior to any delinquency so that the Company has an opportunity to deposit sufficient funds in the Operating Account to allow for such payment prior to the imposition of any penalty or late charge. In no event shall Property Manager be required to expend any of its own funds for the operation or maintenance of the Property, nor to incur any liability unless Company shall have furnished Property Manager with funds necessary for the discharge thereof prior to incurring such liability; provided, however, that should Property Manager do so, Property Manager shall be entitled to reimbursement from Company within thirty (30) days after such advance.
Appears in 23 contracts
Samples: Property and Asset Management Agreement (Strategic Realty Trust, Inc.), Fproperty and Asset Management Agreement (Strategic Realty Trust, Inc.), Fproperty and Asset Management Agreement (Strategic Realty Trust, Inc.)
