Examples of Garage Management Agreement in a sentence
Manager further agrees to (a) execute such affidavits and certificates as Lender shall reasonably require to further evidence the agreements herein contained, (b) on request from Lender, furnish Lender with copies of such information as Garage Mortgage Borrower is entitled to receive under the Garage Management Agreement, and (c) cooperate with Lender’s representative in any inspection of all or any portion of the Garage Property.
In the event that the responsibility for the management of the Garage Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Garage Management Agreement is terminated.
Notwithstanding anything to the contrary in the Garage Management Agreement, the Manager acknowledges and agrees that the Rents are the sole property of Mortgage Borrowers, encumbered by the lien of the Mortgage and the other Mortgage Loan Documents in favor of Mortgage Lender.
In any bankruptcy, insolvency or similar proceeding, Manager, on behalf of itself and on behalf of any trustee acting on behalf of Manager, waives any claim to the Rents other than as such Rents may be used to pay the fees and compensation of Manager pursuant to the terms and conditions of the Garage Management Agreement, subject to the terms hereof.
At such time as the Obligations are satisfied and the Garage Pledge Agreement is terminated, this Assignment and all of Lender’s right, title and interest hereunder with respect to the Garage Management Agreement shall terminate.
Manager agrees that it will act in conformity with the provisions of this Assignment, the provisions of Section 9.5 of the Loan Agreement and Lender’s rights hereunder or otherwise related to the Garage Management Agreement.
Pursuant to a Parking Garage Management Agreement between KBS and St. Louis Parking Company (″St. Louis Parking″), St. Louis Parking managed, operated, and maintained the Parking Facility.
The Garage Manager shall have the authority delegated to it under the Garage Management Agreement.
Any action by the Company to seek a remedy against the Garage Manager under the terms of the Garage Management Agreement or to exercise any termination right thereunder shall require the unanimous approval of the Members, provided that if the Members cannot agree, then Xxxxx’ decision shall control.
If Purchaser does not elect to assume the Existing Garage Management Agreement, Purchaser shall give written notice of same to the City, the City shall terminate the Existing Garage Management Agreement, and the Closing date shall be delayed by the number of days necessary (if any) to accommodate the 30-day termination notice required under Existing Garage Management Agreement.