Common use of Supplements to Client’s Trust Account – Property Management Clause in Contracts

Supplements to Client’s Trust Account – Property Management. Owner shall at all times maintain sufficient funds in the Client's Trust Account-Property Management, to enable Manager to pay reasonably-anticipated obligations of the Property in a timely manner. Owner and Manager agree that Manager shall maintain a minimum balance as indicated on the first page of the Agreement to ensure adequate funds are available to pay the operating expense of the Property. If collections are projected to insufficient or will not be received in time to satisfy this requirement, Owner shall provide Manager with the necessary funds within two (2) business days following Manager's request therefor. If Owner has not provided said funds within seven (7) days after Manager's request, Manager may, at its sole option, terminate this Agreement. Manager shall not be required to advance funds for Owner's account. However, should Manager make a payment for Owner's account and should a deficit occur therein, upon notification by Manager, Owner shall immediately remit to Manager sufficient funds to remove the deficit.

Supplements to Client’s Trust Account – Property Management. Owner shall at all times maintain sufficient funds in the Client's ’s Trust Account-Account – Property Management, to enable Manager to pay reasonably-reasonably anticipated obligations of the Property in a timely manner. Owner and Manager agree that Manager shall maintain a minimum balance as indicated on the first page of the this Agreement to ensure adequate funds are available to pay the operating expense expenses of the Property. If collections are projected to be insufficient or will not be received in time to satisfy this requirement, Owner shall provide Manager with the necessary funds within two (2) business days following Manager's ’s request therefortherefore. If Owner has not provided said funds within seven (7) days after Manager's ’s request, Manager may, at its sole option, terminate this Agreement. Manager shall not be required to advance funds for Owner's ’s account. However, should Manager make a payment for Owner's ’s account and should a deficit occur therein, upon notification by Manager, Owner shall immediately remit to Manager sufficient funds to remove the deficit.