Common use of Property Management Agreements Clause in Contracts

Property Management Agreements. If, in addition to or in lieu of any Borrower-Operator Agreement, Xxxxxxxx enters into a property management agreement or other document outlining procedures for managing the Healthcare Facility, such agreement or document must be consistent with Program Obligations. Borrower and the management agent shall submit and maintain a current management certification meeting standards consistent with Program Obligations. Any agreement relating to management of the Project must contain a provision that it cannot be assigned without the prior written approval of HUD.

Property Management Agreements. If, in addition to or in lieu of any Borrower-Operator Agreement, Xxxxxxxx enters into a property management agreement or other document outlining procedures for managing the Healthcare Facility, such agreement or document must be consistent with Program Obligations. Borrower and the management agent shall submit and maintain maintain, or cause to be submitted and maintained, a current management certification meeting standards consistent with Program Obligations. Any agreement relating to management of the Project must contain a provision that it cannot be assigned without the prior written approval of HUD.