PBTC definition
Examples of PBTC in a sentence
Perform all normal and customary accounting functions for PBTC and maintain all necessary books and records in connection therewith; and monitor the actual monthly income and expenses of PBTC, collect revenues and pay operating expenses, compare actual results to the relevant operating budgets, and report to PBTC.
Service Manager shall inform PBTC of any such expenditures as soon as reasonably practicable but in no event later than the end of the next business day succeeding the date upon which such expenditures are made.
All rights and remedies that PBTC or Service Manager may have at law, in equity or otherwise for any breach of any term or condition of this Agreement shall be distinct, separate and cumulative rights and remedies and no one of them shall be deemed to be in exclusion of any other right or remedy of PBTC or Service Manager.
The Executive shall receive a Base Salary at the rate of $750,000.00 per year.
PBTC shall (i) furnish Service Manager with all information in PBTC's possession reasonably necessary to enable Service Manager to perform its duties, and (ii) otherwise cooperate with, and assist Service Manager in, performance of Service Manager's duties hereunder.
For performing its servicing and administration duties, PBTC shall pay to Service Manager a fee equal to a reasonable cost allocation of all salaries, cost and overhead of Service Manager for the time devoted by Service Manager and its agents and employees to performing the duties and services herein described (the "SERVICE FEE").
To the extent such Service Fee is not timely paid, Service Manager may offset such overdue amount against amounts owing by it under any other agreement to PBTC.
Service Manager is authorized to engage attorneys and other advisors as necessary to provide legal services in connection with the day-to-day operation of PBTC, including enforcement of contracts; review of contracts, leases and other documents; and implementing and defending legal actions.
During the Term (defined below) and during the one (1) year period following the expiration or termination of this Agreement, PBTC and its duly authorized agents may, at reasonable times, examine, inspect, audit, and copy Service Manager's books, records, files, and reports pertaining to PBTC.
Assist PBTC in assuring compliance with applicable governmental regulations (including without limitation labor and employment regulations and the Americans With Disabilities Act); and implementing a program to monitor continuing compliance with governmental regulations.