Condominium Manager definition

Condominium Manager means initially, Z▇▇▇ Residential Services, Inc., Borrower shall have the right, without prior consent of Lender, to cause the Condominium Association to transfer management of the Condominium Project to Property Manager, provided, however, that Property Manager has all licenses required under Florida law to manage a condominium project (including, a licensed individual as required under applicable law), the form of the new Condominium Management Agreement is reasonably satisfactory to Lender and the management fee does not exceed the monthly sum of $10,449.00 (that is, $13.50 per unit per month), as increased by three percent (3%) annually. Upon such transfer, Property Manager shall become the Condominium Manager for all intents and purposes under the Loan Documents.

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Condominium Manager means any manager of the Common Elements.

Condominium Manager means Marriott Hotel Services, Inc. on the date hereof, and hereafter shall mean the manager under the Condominium Management Agreement.

Examples of Condominium Manager in a sentence

• Condominium Manager and Manager of a Condominium have the same meaning.

• Condominium Manager andManager of a Condominium have the same meaning.

• Condominium Manager and its subcontractors and agents may contract with their Affiliates, provided that such contracts are commercially reasonable, subject to the requirements of Section 5.

• Condominium Manager is also authorized to file lawsuits and deliver settlement agreements and related documents to insurers upon, and in consideration of, payments of claims; to otherwise exercise all of the rights, powers and privileges of the insured parties, and to receive on behalf of the insured parties, all insurance proceeds, subject to the provisions of the Condominium Documents.

• This Agreement shall not be construed as prohibiting Condominium Manager, or any firm or corporation or any related person or entity controlled by Condominium Manager, from conducting or possessing an interest in any other business or activity, including, but not limited to, the ownership, financing, leasing, operation, development, management and brokerage of real property.

• Condominium Manager shall regulate the use of the storage areas on the Condominium Property, if any.

• Condominium Manager shall use commercially reasonable judgment in evaluating these factors with respect to each proposed service; provided, however, nothing contained herein shall require Condominium Manager to obtain the lowest price available as to any service, material or purchase, or in instances where bids are obtained, to accept the lowest bid, to the extent such decision is reasonable in light of the above factors.

• Condominium Manager shall have no obligation to invest such funds in any interest-bearing accounts or instruments.

• No such assignment shall release Condominium Manager of its liability under this Agreement.

• If there has been a determination by an arbitrator that Condominium Manager has caused a default sufficient to result in termination of this Agreement, Condominium Manager shall be responsible for the continued employment of the employees or bear the expense of severance and related liabilities for those positions.

More Definitions of Condominium Manager

Condominium Manager means for a Condominium Property the manager engaged by the Condominium Board.

Condominium Manager means the condominium management company or individual condominium manager acting on behalf of the Corporation from time to time;

Condominium Manager means an individual who has the prescribed qualifications to be licensed as a condominium manager under this Act and who provides condominium management services to,

Condominium Manager is defined in the Preamble and includes its legal successors and permitted assigns.