New Property Manager definition
Examples of New Property Manager in a sentence
The associated costs for the personnel arranged for by the Minister during the transition period shall be considered Extra Work and paid by the New Property Manager from the extra work Allowance.
If Grantor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Grantor shall promptly provide Grantee with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
Purchaser and New Property Manager acknowledge and agree that if Seller elects to terminate this Agreement pursuant to such Section 13.1, then Seller shall have the right to terminate the New Property Management Agreement at any time thereafter, and that thereafter Seller shall have the rights and remedies available to it both under Section 13.1 hereof and under the Property Management Agreement.
Contemporaneously with such delivery by Sellers, Purchaser shall cause New Property Manager to execute and deliver to each Seller two counterparts to the applicable Management Agreement with such Seller.
Purchaser and New Property Manager shall reasonably cooperate with Seller and Seller’s lender in connection with Seller’s pursuit of the New Property Management Approval, including but not limited to entering into any commercially reasonable loan documentation required by Seller’s Lender as a condition of the New Property Management Approval.
In connection with the appointment of New Property Manager as property manager of each of the Properties, each Seller shall be solely responsible for obtaining any consent of its applicable Lender to the change in property managers, to the extent required.
If Mortgagor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Mortgagor shall promptly provide Mortgagee with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
Upon the occurrence of a default by Seller under the New Property Management Agreement that would entitle New Property Manager to terminate it (after the expiration of any applicable notice and/or cure periods), then such default shall also constitute a default by Seller under Section 13.2 of this Agreement.
If Trustor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Trustor shall promptly provide Beneficiary with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.
If Grantor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other than Property Manager (“New Property Manager”), Grantor shall promptly provide Beneficiary with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the Property.