Managed Properties definition
Examples of Managed Properties in a sentence
At all Properties that are not Tenant Managed Properties, Landlord shall provide on-site and supervisory property management services either through an Affiliate of Landlord or through a qualified third party property submanager designated by Landlord (any such Landlord Affiliate or submanager, a “Landlord Designated Submanager”).
Landlord shall be and remain responsible for disbursement of Operating Expense and Real Estate Tax payments at all Properties, including Tenant Managed Properties.
Manager shall not commingle any Operating Revenues received by it with respect to any of the Managed Properties with any of its other funds or property.
Lender shall have the right to inspect and make copies of the books, accounts and records of Manager that relate to the Managed Properties or the Management Agreements up to four times per year (or at any time during the continuance of an Event of Default under the Loan Agreement), all at reasonable times and upon reasonable advance notice to Manager.
Subject to the terms of this Agreement, the sole responsibility and authority for the management of the Managed Properties is vested in Manager, and Manager shall have the complete right and authority to manage the Managed Properties.