Common use of Management Plan Clause in Contracts

Management Plan. As a condition precedent to the issuance of the Governmental Lender Note, Borrower shall prepare and submit to the Executive Director for review and approval a property management plan which includes a detailed plan and strategy for long term marketing, operation, maintenance, coordination and provision of social services, repair and security of the Apartment Complex, method of selection of tenants, rules and regulations for tenants, and other rental policies for the Apartment Complex with particular focus and specific provisions on operation of affordable housing (“Management Plan”). Executive Director approval of the Management Plan shall not be unreasonably withheld or delayed. Subsequent to approval of the Management Plan by the Executive Director the ongoing management, coordination and provision of social services and operation of the Apartment Complex shall be in compliance with the approved Management Plan. Borrower and Property Manager may from time to time submit to the Executive Director proposed amendments to the Management Plan, which are also subject to the prior written approval of the Executive Director.

Management Plan. As a condition precedent to the issuance of the Governmental Lender NoteBonds, Borrower shall prepare and submit to the Executive Director for review and approval a property management plan which includes a detailed plan and strategy for long term marketing, operation, maintenance, coordination and provision of social services, repair and security of the Apartment Complex, method of selection of tenants, rules and regulations for tenants, and other rental policies for the Apartment Complex with particular focus and specific provisions on operation of affordable housing (“Management Plan”). Executive Director approval of the Management Plan shall not be unreasonably withheld or delayed. Subsequent to approval of the Management Plan by the Executive Director the ongoing management, coordination and provision of social services and operation of the Apartment Complex shall be in compliance with the approved Management Plan. Borrower and Property Manager may from time to time submit to the Executive Director proposed amendments to the Management Plan, which are also subject to the prior written approval of the Executive Director.

Management Plan. As a condition precedent to the issuance execution and delivery of the Governmental Lender NoteNotes, Borrower shall prepare and submit to the Executive Director for review and approval a property management plan which includes a detailed plan and strategy for long term marketing, operation, maintenance, coordination and provision of social services, repair and security of the Apartment Complex, method of selection of tenants, rules and regulations for tenants, and other rental policies for the Apartment Complex with particular focus and specific provisions on operation of affordable housing (“Management Plan”). Executive Director approval of the Management Plan shall not be unreasonably withheld or delayed. Subsequent to approval of the Management Plan by the Executive Director the ongoing management, coordination and provision of social services and operation of the Apartment Complex shall be in compliance with the approved Management Plan. Borrower and Property Manager may from time to time submit to the Executive Director proposed amendments to the Management Plan, which are also subject to the prior written approval of the Executive Director.