Management Subcontracts definition
Examples of Management Subcontracts in a sentence
In addition, the General Partner hereby approves of the delegation of certain administrative rights to the Fairways Investor through the approval process of the Development Budget and Business Plan, and to the Developer as set forth in any Development Agreement, to the Manager as set forth in the Management Agreements and to the Subcontractor as set forth in any Management Subcontracts.
After an annual Operating Budget has been approved by the BH Investor, the General Partner shall implement it on behalf of the Partnership as set forth in the Development Agreement, the Management Agreements or the Management Subcontracts and may cause the Partnership to incur the expenditures and obligations therein provided.
The Manager may, but is not obligated to, enter into subsequent Management Subcontracts in substantially the form attached hereto as Exhibit E-1 with Manager for additional Phases as they are completed.
The Partners hereby acknowledge and agree that approval of the BH Investor and the Fairways Investor has been obtained with respect to the Management Agreement, Development Agreement, Management Subcontracts and other fees payable by the Partnership to Affiliates of the Partners as set forth in Section 4.8 below.