Existing Property Management Agreement definition
Examples of Existing Property Management Agreement in a sentence
In the event that any Existing Property Management Agreement or Future Property Management Agreement is terminated following the rejection thereof pursuant to Section 365 of the U.S. Bankruptcy Code (11 U.S.C. Section 101 et.
For the avoidance of doubt, the Existing Property Management Agreement shall be terminated prior to the Closing.
All accrued fees pursuant to the Existing Property Management Agreement shall be paid by Seller at or prior to Closing..
If Seller has not previously terminated the Existing Property Management Agreement and entered into the New Property Management Agreement, then Seller shall cause the Existing Property Management Agreement to be terminated by the Closing.
MPG, MOF and Beacon acknowledge and agree that, on the Closing Date, the Company shall pay to MPG any and all then accrued and unpaid fees and unreimbursed expenses which MPG is entitled to receive under each of the LLC Agreement and the Existing Property Management Agreement on account of services rendered and expenses incurred by MPG thereunder during calendar year 2011 and through and including the portion of calendar year 2012 ending on the Closing Date.
Provided that this Agreement is not previously terminated, upon ten (10) days written notice from Purchaser (provided that such notice may not be given until the New Property Management Approval is obtained), Seller shall (i) cause the Existing Property Management Agreement to be terminated, and (ii) enter into the New Property Management Agreement with New Property Manager.
All accrued fees pursuant to the Existing Property Management Agreement shall be paid by the Owners at or prior to Closing, but the Owners shall not receive any capital account credit on account thereof.