Initial Property Manager definition

Initial Property Manager means Kestrel Management, L.P., a Delaware limited partnership.
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Initial Property Manager. Means ARC Management, LLC, a Tennessee limited liability company. Initial Management Agreement. As described in Section 6.5. Initiating Member. As described in Section 10.3(a). Initiating Member Deposit. As described in Section 10.3(a).
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Initial Property Manager means each of the Property Managers listed on Schedule 4 attached hereto.
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Examples of Initial Property Manager in a sentence

  • So long as the Properties are producing NOI which equals or exceeds the NOI set forth on the operating pro-forma approved by SHP for the Properties, a copy of which is attached hereto as Exhibit E (the "Operating Pro Forma"), SHP will not unreasonably withhold its approval of the Annual Operating Budget and Marketing Budget proposed by the Initial Property Manager.

  • Agent shall have received a copy of each Initial Property Management Agreement duly executed by the applicable Parent Entity and the Initial Property Manager together with a Manager's Consent duly executed by the Property Manager, each of which shall be in form and substance reasonably satisfactory to Agent.

  • The ownership of and transfers of interests in Initial Property Manager shall be limited as set forth in the Initial Management Agreement.

  • Managing Member shall cause Property Manager (including, without limitation, the Initial Property Manager) to obtain fidelity bonds with reputable surety companies, covering all persons having access to the Company's funds and indemnifying the Company against loss resulting from fraud, theft, dishonesty and other wrongful acts of such persons.

  • The Reserve for the Property shall be held by the Initial Property Manager in an interest bearing account and shall be expended only for capital repairs/replacements and/or capitalized furniture, fixtures or equipment which are authorized in an approved Annual Operating Budget or an approved Capital Budget.

  • The Company shall also require the Initial Management Agreement for the Initial Property Manager and the Management Agreement for any subsequent Property Manager to include a requirement that the Property be operated as a REOC.

  • The day-to-day operations of the Property shall be the responsibility of the Managing Member, but such day-to-day operations shall be delegated to Initial Property Manager or another Property Manager acceptable to SHP, pursuant to the terms, conditions and limitations set forth in the Initial Management Agreement or any subsequent Management Agreement.

  • As defined in, and as required by the terms of the Initial Management Agreement, the Annual Operating Budget, Marketing Budget, Capital Budget and Repairs and Equipment Estimate (collectively "Budgets") will be prepared by the Initial Property Manager and delivered to Managing Member, who will in turn deliver all such items to the other Members.

  • The Capital Budget proposed by Initial Property Manager will include the Repairs and Equipment Estimate and a reserve of $500 per unit, in the Property to be available for capital repairs and the acquisition of furniture, fixtures and equipment normally capitalized under generally accepted accounting principles ("Reserve").

  • As of the Closing Date, the Properties are, and, subject to the terms and provisions of Section 10.1, at all times shall remain (unless consented to by Agent), managed by Initial Property Manager.

Related to Initial Property Manager

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Property Management Fee means the fee payable to the Manager for its day-to-day management of the Property pursuant to the Management Agreement.