Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10%) or $25,000, whichever is greater, in any one accounting category for the current month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.
Appears in 42 contracts
Samples: Form of Property Management Agreement (Steadfast Apartment REIT, Inc.), Property Management Agreement (Steadfast Apartment REIT, Inc.), Property Management Agreement (Steadfast Apartment REIT, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10%) or $25,00010,000, whichever is greater, in any one accounting category for the current month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating cash flow statement submitted by Manager to Owner.
Appears in 10 contracts
Samples: Property Management Agreement (Steadfast Income REIT, Inc.), Property Management Agreement (Steadfast Apartment REIT III, Inc.), Property Management Agreement (Steadfast Apartment REIT III, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10I 0%) or $25,000S25,000, whichever is greater, in any one accounting category for the current month cumulative year-to-date total shall shalJ be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.
Appears in 2 contracts
Samples: Property Management Agreement, Property Management Agreement (Steadfast Apartment REIT, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10%) or $25,000, whichever is greater, in any one accounting category for the current month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.. Section 3.12
Appears in 1 contract
Samples: Property Management Agreement (Steadfast Apartment REIT, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property Propetty shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10( l 0%) or $25,000, whichever is greater, in any one accounting category for the current cun-ent month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.. Section 3.12
Appears in 1 contract
Samples: Management Agreement (Steadfast Apartment REIT, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property Properly shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (( 10%) or $25,000, 25.000. whichever is greater, . in any one accounting category for the current month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.. Section 3.12
Appears in 1 contract
Samples: Property Management Agreement (Steadfast Apartment REIT, Inc.)
Implementation. Manager agrees to use diligence and to employ all reasonable efforts to ensure that the actual costs of maintaining and operating the Property shall not exceed the Operating Budget either in total or in any one accounting category. Any expense causing or likely to cause a variance of greater than ten percent (10I 0%) or $25,000, whichever is greater, in any one accounting category for the current month cumulative year-to-date total shall be promptly explained to Owner by Manager in the next operating statement submitted by Manager to Owner.. Section 3 .12
Appears in 1 contract
Samples: Property Management Agreement (Steadfast Apartment REIT, Inc.)
