Property Services Agreement definition
Examples of Property Services Agreement in a sentence
Simultaneously with the execution of the Lease, the Lessee shall enter into a ▇▇▇▇.▇▇▇ Internet Plaza Office Building Property Services Agreement with the property management company designated by the Lessor (subject to the name of the agreement finalized).
By executing this Agreement, each Limited Partner approves the provisions of the Property Services Agreement Form and consents to the execution, delivery and performance by a Fund Entity of a Property Services Agreement substantially in such form with respect to each Property in which any Operating Company invests.
The additional terms of agreement in this Specified Form are suggested provisions only and the Property Services Regulatory Authority does not accept any liability as to the adequacy of the heads and/or terms of agreement under this Property Services Agreement or with respect to their application or enforceability.
However, it is the Agent’s responsibility to ensure that in undertaking any amendment of the Specified Form - Property Services Agreement and/or agreeing any different terms, the provisions of Schedule 2 of the Property Services (Regulation) Act 2011 are complied with in clear and unambiguous terms.
Notwithstanding anything herein to the contrary, no costs or expenses payable by the Owner of any Property under the terms of the Property Services Agreement entered into with respect to such Property shall be deemed Managing General Partner Expenses.
Blank copies of this Specified Form: Property Services Agreement may be obtained from the Property Services Regulatory Authority (PSRA) website (▇▇▇.▇▇▇.▇▇).
The headings in the Specified Form which are bold, underlined and marked with an asterix (*) are heads of agreement which must be addressed in the Property Services Agreement in accordance with Parts 1 and 3 of Schedule 2 of the Property Services (Regulation) Act 2011 (the relevant provisions have been extracted at Appendix 1 to these notes).
It is not necessary to set aside an existing Property Services Agreement to use this revised Property Services Agreement.
Notwithstanding anything herein to the contrary, no costs or expenses payable by the Owner of any Property under the terms of the Property Services Agreement entered into with respect to such Property shall be deemed General Partner Expenses.
Furthermore, the Renewal Master Property Services Agreement was entered into in the ordinary and usual course of business of the Group after due negotiations on an arm’s length basis with reference to the prevailing market conditions.