Payments to Owner definition

Payments to Owner. To remit to the Owner on or about the fifteenth of each month any funds remaining from rents received after paying necessary disbursements. In the event that disbursements exceed receipts, Owner will immediately remit such excess to Agent. Owner will not receive rent payments until a signed lease or lease extension has been received by Agent. Litigation: To enter into litigation on behalf of Owner as Agent determines to be in Owner's best interest, to hire legal counsel, and to offer and accept settlements of disputes. AGENT TERMINATION CLAUSE: Agent may terminate the management agreement with 30 days written notice to Owner if the agent, in its sole discretion, deems the continuation of the agreement subjects itself to liability or is in breach of its duties to the tenants or any other persons. If so terminated, the Owner shall immediately pay back to Agent all monies of any nature expended by Agent on the Owner’s behalf. OWNER'S OBLIGATIONS: Financial Responsibility: To be personally responsible for the payment of any expenses or other obligation incurred by Agent in the proper exercise of his authority and duties hereunder; to be personally responsible for the payment to Agent of the amount of excess of expenditures over receipts. Owner hereby grants to Agent a lien against said property to insure the repayment to Agent of said excess and any other amounts that may be due hereunder. In the event that any or all of such an excess remains unpaid to Agent one month after Agent has delivered to Owner a statement showing the amount of the excess, Owner will incur a service charge equal to two percent (2%) of the amount of the excess unpaid each month. Agent's Liability: Owner agrees to fully indemnify and hold harmless Agent and all of its agents and employees from and against all claims, damages, losses, and expenses, including attorney’s fees actually incurred, arising out of, resulting from, or directly or indirectly connected with the performance of Agent’s work and services performed under this agreement, including, but not limited to, the Agent’s rental or management of the herein described property, and from any liability for any alleged injury, damage, or loss suffered by any tenant, applicant, or other person whatsoever. Owner agrees to carry, at his own expense, necessary public liability insurance in an amount not less than $300,000, which policy shall be so written as to protect Agent in the same manner and to the same extent they protect Owner a...
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Examples of Payments to Owner in a sentence

  • Should such condition precedent not be satisfied for each Computation Quarter, then City shall have no obligation under this Section 3.2 to make any Covenant Payments to Owner in such Computation Quarter.

  • Payments to Owner hereunder will be made by check(s) drawn on Purchaser’s (or its assignee’s) bank account.

  • Payments to Owner Trustee/Lessor: Payments made to Owner Trustee pursuant to the terms of the Operative Documents shall be made to the following account of Lessor: or to such other account of Lessor in the United States as may be specified in a notice delivered by Owner Trustee to Lessee and Owner Participant in accordance with Section 10.1 at least 10 Business Days prior to the due date after which payments are to be made pursuant to such notice.

  • Payments to Owner; Fixed Annuity Payments; Amount of Fixed Annuity Payments; Amount of Variable Annuity Payments ANNUITY PAYMENT OPTIONS .

  • Payments to Owner Trustee....................................33 SECTION 3.07.

  • Notwithstanding anything herein to the contrary, while City may pay the Economic Development Grant from any lawful source other than Ad Valorem Tax Revenues or Hotel Occupancy Tax Revenues (except as specified in Section 5.4 hereof), City must pay the Chapter 380 Payments to Owner at the times and in the amounts set forth in this Agreement, provided Owner is in compliance with its obligations under this Agreement at the time such payments are due.

  • Payments to Owner Trustee...............................................

  • SECTION 7.1. Owner Trustee's Fees and Expenses.....................16 SECTION 7.2. Indemnification.......................................16 SECTION 7.3. Payments to Owner Trustee.............................17 ARTICLE VIII.

  • Upon satisfaction of the condition in subsections (i) and (ii), City shall be obligated to pay all previously unpaid City Payments to Owner within thirty (30) days.

  • Lessee shall make the following Payments to Owner at: P▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇ ▇▇▇▇▇ or 7▇▇ ▇▇▇▇▇▇ ▇▇▇, Washoe Valley, NV 89704.