Management of the Properties Clause Samples

The 'Management of the Properties' clause defines the responsibilities and authority of the party or parties tasked with overseeing and operating the properties covered by the agreement. Typically, this clause outlines who will handle day-to-day management tasks such as maintenance, repairs, tenant relations, and compliance with relevant laws or regulations. It may also specify reporting requirements, budgeting procedures, and the scope of decision-making power granted to the manager. The core function of this clause is to ensure clarity and accountability in the ongoing administration of the properties, thereby reducing disputes and ensuring the properties are properly maintained and operated.
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Management of the Properties. Asset Manager shall devote its commercially reasonable efforts, consistent with first class professional management, to manage the Properties, and shall perform its duties with respect thereto under the Management Agreement in accordance with the Operating Agreement and Annual Plan and in a reasonable, diligent and careful manner so as to manage and supervise the operation, maintenance, leasing and servicing of each Property in a manner that is comparable to similar properties in the market area in which such Property is located. The services of Asset Manager hereunder are to be of a scope and quality not less than those generally performed by professional managers of other similarly situated properties in the market area in which each Property is located. Asset Manager shall make available to the Company the full benefit of the judgment, experience and advice of the members of Asset Manager's organization and staff with respect to the policies to be pursued by the Company in operating the Properties, and will perform such services as may be requested by the Company within the scope of the Management Agreement in operating, maintaining, leasing, and servicing each Property.
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Management of the Properties. HB LANDS ROYALTIES AND ADDITIONAL ROYALTIES 4.1 General Delegation of Authority by the Corporation, FHT and the Partnership re: Properties 4.2 Specific Delegation of Authority by the Corporation, FHT and the Partnership re: Properties (a) operate all Properties which the Corporation, FHT or the Partnership is entitled to operate and use all reasonable efforts to monitor operations and to cause all operations in respect thereof to be conducted in a good and workmanlike manner, in accordance with applicable law and the Title and Operating Documents; (b) except as otherwise provided herein, cause the Corporation's, FHT's or the Partnership's title to the Properties to be maintained in good standing; (c) calculate and pay or cause to be calculated and paid, so far as it is reasonably able to do so, all rentals, royalties and similar payments and all property, severance and similar taxes in respect of the Properties and the Petroleum Substances produced therefrom required to be paid pursuant to the Title and Operating Documents or applicable law, including payments required to maintain title to the Properties; (d) keep and maintain at all times true and accurate books, records and accounts containing full and complete particulars of all operations, receipts and disbursements on or relating to the Properties and, upon request by the Corporation, FHT or the Partnership, provide copies, at the Corporation's, FHT's or the Partnership's cost, of any of such books; records and accounts; (e) maintain custody of and administer all land records and documents necessary or, in the reasonable opinion of Manager, advisable in connection with the Properties, including non-legal examination of title documents, setting up and maintaining of document and correspondence files, land files and rental records, and generally supplying all services provided by the lease and land records department of an oil and natural gas company and, upon request by and at the cost of the Corporation, FHT or the Partnership provide copies of any of such files and records to the Corporation, FHT or the Partnership; (f) prepare and file on behalf of the Corporation, FHT and the Partnership all applications for incentives; and (g) negotiate and execute on behalf of the Corporation, FHT and the Partnership all exploitation and development agreements, operating agreements, working agreements, farmin and farmout agreements, leases and other documents relating to the exploitation of the Properties as may ...
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Management of the Properties. Bordeaux Property shall mean the property complex and property rights located in BEYCHAC-ET-CAILLAU (GIRONDE) 33750, at a place known as Canteloup, comprising: - two single-storey units used for storage purposes with loading bays, the total surface area of which is approximately 12,522 m2; - a one-storey unit used as offices and company premises, the total surface area of which is approximately 1,498m2; and - 170 outside parking spaces and a motorcycle shelter with approximately 40 parking spaces; as identified more fully in Clause 12.1.
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Management of the Properties. 15.1 Lacus shall have the obligation to keep the Properties in good standing according to Applicable Laws. In this sense, the Mining Fee and the investments plan obligations are to be complied with for the Properties in due time. In this regard, it is expressly agreed that: (a) evidence of the Mining Fee payments will be provided to LI3 on each opportunity of payment. LI3 shall be responsible for the costs involved to keep the Properties in good standing as of the Closing Date and Lacus shall inform LI3 regarding any payments due with an anticipation of one month in order to have enough time to anticipate the funds in due time. After payment by Lacus, Lacus shall furnish LI3, within 5 calendar days from the applicable payment, with copy of the relevant receipt evidencing payment thereof. (b) in connection with the investment plan, if the obligation to file such plan in connection with the Properties or some of the Properties is due prior to exercise of the First Option, then the Executive Committee will agree and decide on the content and scope of such investment plan or plans as required by Applicable Laws. (c) the strategy to manage the Properties and therefore any mandatory or non mandatory filings or presentations to be made in the files will be expressly agreed and discussed within the Executive Committee. 15.2 The Executive Committee will have the right at any time during the First Exploration Phase to decide whether any Properties are to be excluded or extended or in other way decide regarding the strategy to manage and handle the Properties, eg. formation of a mining group, application of easements to develop mining infrastructure, etc. 15.3 In connection with the maintenance of the Properties in good standing and for all legal purposes, Lacus grants an Irrevocable Power of Attorney to LI3 in order to directly exercise any actions that may be required to keep the Properties in good standing and/or to cure any omission incurred by Lacus in connection with such actions.
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Management of the Properties. (a) to supply the Agent, no later than 9 January 2015, (i) the original copy of the duty of care letter signed by each PM Administrator of Assets and (ii) the original copy of the duty of care letter signed by the AM Asset Manager. (b) to manage or to procure that its Property is managed in a prudent manner and maintained in a good state of repair, so that at all times the relevant Property may be operated in accordance with the terms of the Leases and in compliance with the applicable regulations; (c) without the prior written consent of the Agent, not to materially amend the Asset Management Agreement entered into by it and not to replace the Asset Manager or enter into any new Asset Management Agreement; (d) without the prior written consent of the Agent, not to materially amend the Property Management Agreements or enter into any new Property Management Agreements and not to replace the Property Managers;
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Management of the Properties. (a) The Mortgagor covenants and agrees with the Beneficiary that the Properties will be managed at all times in a manner consistent with past practice by Mortgagor or by another manager acceptable to the Beneficiary. Upon the appointment of any manager (other than the Mortgagor or an affiliate), the Beneficiary shall have the right to approve (which approval shall not be unreasonably withheld or delayed) any management agreement with such manager and any such management agreement shall provide that it is subject and subordinate to the terms and provisions of this Mortgage. (b) It is acknowledged and agreed that any management agreement may be terminated at the direction of the Beneficiary at any time following the occurrence and continuance of an Event of Default hereunder and, if any such management agreement is so terminated, a substitute manager shall be appointed by the Beneficiary.
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Management of the Properties 
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Related to Management of the Properties

  • Development of the Property Except as modified by this Agreement, the Development and the Property will be developed in accordance with all applicable local, state, and federal regulations, including but not limited to the City’s ordinances and the zoning regulations applicable to the Property, and such amendments to City ordinances and regulations that that may be applied to the Development and the Property under Chapter 245, Texas Local Government Code, and good engineering practices (the “Applicable Regulations”). If there is a conflict between the Applicable Regulations and the Development Standards, the Development Standards shall control.

  • MANAGEMENT OF THE BUSINESS Pursuant to Section ▇▇-▇▇-▇▇▇ of the Act, and as stated in its Articles, the Company’s day to day affairs are managed by the Member. The Member is responsible for the daily operations of the business.

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • The Properties Attached hereto as Schedule I is the description of certain Land (the "Subject Property"). Effective upon the execution and delivery of this Lease Supplement by Lessor and Lessee, such Land, together with any Building and other improvements thereon or which thereafter may be constructed thereon shall be subject to the terms and provisions of the Lease and Lessor hereby grants, conveys, transfers and assigns to the Related Lessee those interests, rights, titles, estates, powers and privileges provided for in the Lease with respect to the Subject Property.

  • Management of Property (a) Borrower shall manage the Property or cause the Property to be managed in a manner which is consistent with the Approved Manager Standard. All Space Leases shall provide for rental rates comparable to then existing local market rates and terms and conditions which constitute good and prudent business practice and are consistent with prevailing market terms and conditions, and shall be arms-length transactions. All Space Leases entered into after the date hereof shall provide that they are subordinate to this Security Instrument and that the lessees thereunder attorn to Lender. Borrower shall deliver copies of all Leases, amendments, modifications and renewals thereof to Lender. All proposed Leases for the Property shall be subject to the prior written approval of Lender, not to be unreasonably withheld, conditioned or delayed, provided, however that Borrower may enter into new leases with unrelated third parties without obtaining the prior consent of Lender provided that: (i) the proposed leases conform with the requirements of this Section 7.02; (ii) the proposed Space Lease is not a Major Space Lease and the space to be leased pursuant to such proposed lease together with any space leased or to be leased to an Affiliate of the tenant thereunder does not exceed 10,000 square feet; and (iii) the term of the proposed lease inclusive of all extensions and renewals, does not exceed ten (10) years. (b) Borrower (i) shall or shall cause Operating Tenant to observe and perform all of its material obligations under the Leases pursuant to applicable Legal Requirements and shall not do or permit to be done anything to impair the value of the Major Space Leases as security for the Debt; (ii) shall promptly send copies to Lender of all notices of default which Borrower shall receive under the Major Space Leases; (iii) shall, consistent with the Approved Manager Standard, enforce all of the terms, covenants and conditions contained in the Leases to be observed or performed; (iv) shall not collect any of the Rents under the Major Space Leases more than one (1) month in advance (except that Borrower may collect in advance such security deposits as are permitted pursuant to applicable Legal Requirements and are commercially reasonable in the prevailing market); (v) shall not execute any other assignment of lessor’s interest in the Leases or the Rents except as otherwise expressly permitted pursuant to this Security Instrument; (vi) shall not cancel or terminate any of the Leases or accept a surrender thereof in any manner inconsistent with the Approved Manager Standard; (vii) shall not convey, transfer or suffer or permit a conveyance or transfer of all or any part of the Premises or the Improvements or of any interest therein so as to effect a merger of the estates and rights of, or a termination or diminution of the obligations of, lessees thereunder; (viii) shall not alter, modify or change the terms of any guaranty of any Major Space Lease or cancel or terminate any such guaranty in a manner inconsistent with the Approved Manager Standard; (ix) shall, in accordance with the Approved Manager Standard, make all reasonable efforts to seek lessees for space as it becomes vacant and enter into Leases in accordance with the terms hereof; (x) shall not cancel or terminate or materially modify, alter or amend any Major Space Lease or Property Agreement without Lender’s consent, which consent will not be unreasonably withheld or delayed; and (xi) shall, without limitation to any other provision hereof, execute and deliver at the request of Lender all such further assurances, confirmations and assignments in connection with the Property as are required herein and as Lender shall from time to time reasonably require. (c) All security deposits shall be held in accordance with all Legal Requirements. Following the occurrence and during the continuance of any Event of Default, Borrower shall, upon Lender’s request, if permitted by applicable Legal Requirements, turn over the security deposits (and any interest thereon) to Lender to be held by Lender in accordance with the terms of the Leases and all Legal Requirements. (d) If requested by Lender, Borrower shall furnish, or shall cause the applicable lessee to furnish, to Lender financial data and/or financial statements in accordance with Regulation AB for any lessee of the Property if, in connection with a Securitization, Lender expects there to be, with respect to such lessee or any group of affiliated lessees, a concentration within all of the mortgage loans included or expected to be included, as applicable, in such Securitization such that such lessee or group of affiliated lessees would constitute a Significant Obligor; provided, however, that in the event the related Space Lease does not require the related lessee to provide the foregoing information, Borrower shall use commercially reasonable efforts to cause the applicable lessee to furnish such information. (e) Borrower covenants and agrees with Lender that (i) the Property will be managed at all times by an Approved Manager pursuant to the management agreement approved by Lender (the “Management Agreement”), such approval not to be unreasonably withheld or delayed, (ii) after Borrower has knowledge of a fifty percent (50%) or more change in control of the ownership of Manager, Borrower will promptly give Lender notice thereof (a “Manager Control Notice”) and (iii) the Management Agreement may be terminated by Lender at any time (A) for cause to the extent provided in the Management Agreement (including, but not limited to, Manager’s gross negligence, misappropriation of funds, willful misconduct or fraud) following the occurrence of an Event of Default of the type set forth in Section 13.01(a) through (c), or (B) to the extent provided in the Management Agreement, following the receipt of a Manager Control Notice and a substitute Approved Manager shall be appointed by Borrower. Notwithstanding the foregoing, transfers of publicly traded stock of Manager on a national stock exchange or on the NASDAQ Stock Market in the normal course of business and not in connection with a tender offer or sale of Manager or substantially all of the assets of Manager shall not require the giving of a Manager Control Notice. Borrower may from time to time appoint a successor manager to manage the Property, provided that any such successor manager shall be an Approved Manager. Borrower further covenants and agrees that Borrower shall require Manager (or any successor managers) to maintain at all times during the term of the Loan worker’s compensation insurance as required by Governmental Authorities. (f) Borrower shall not enter into any new or replacement Franchise Agreement without obtaining the prior written consent of Lender, such consent not to be unreasonably withheld, conditioned or delayed (provided that any Franchise Agreement which is on a form in all material respects (including, without limitation, all fees due thereunder) the same as the form of any Franchise Agreement which is contained in the uniform franchise offering circular for any Approved Franchisor shall be deemed an acceptable form), and shall (i) pay or shall cause to be paid all sums required to be paid by Borrower under any Franchise Agreement and Operating Lease, (ii) diligently perform and observe all of the material terms, covenants and conditions of any Franchise Agreement on the part of Borrower to be performed and observed to the end that all things shall be done which are necessary to keep unimpaired the rights of Borrower under any Franchise Agreement and Operating Lease, (iii) promptly notify Lender of the giving of any notice to Borrower of any material default by Borrower in the performance or observance of any of the terms, covenants or conditions of and Franchise Agreement or Operating Lease on the part of Borrower to be performed and observed and deliver to Lender a true copy of each such notice, and (iv) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the Franchise Agreement or the Management Agreement or the Operating Lease. Borrower shall not, without the prior consent of the Lender, such consent not to be unreasonably withheld, conditioned or delayed, surrender any Franchise Agreement or Operating Lease or terminate or cancel any Franchise Agreement or modify, change, supplement, alter or amend any Franchise Agreement or Operating Lease, in any material respect, either orally or in writing, and Borrower hereby assigns to Lender as further security for the payment of the Debt and for the performance and observance of the terms, covenants and conditions of this Security Instrument, all the rights, privileges and prerogatives of Borrower to surrender any Franchise Agreement or Operating Lease or to terminate, cancel, modify, change, supplement, alter or amend any Franchise Agreement or Operating Lease in any respect, and any such surrender of any Franchise Agreement or termination, cancellation, modification, change, supplement, alteration or amendment of any Franchise Agreement or Operating Lease without the prior consent of Lender shall be void and of no force and effect, provided, however, Borrower may terminate any Franchise Agreement if Borrower enters into a new Franchise Agreement with an Approved Franchisor pursuant to a Franchise Agreement which is reasonably acceptable to Lender. Notwithstanding the foregoing, Borrower may renew or replace any Operating Lease, provided such renewal or replacement shall be upon the same terms and conditions as the Operating Lease being renewed or replaced, except rent payable thereunder may be adjusted to the extent necessary to comply with the then-current requirements of the Code for real estate investment trusts. If Borrower shall default in the performance or observance of any material term, covenant or condition of any Franchise Agreement or Operating Lease on the part of Borrower to be performed or observed, then, without limiting the generality of the other provisions of this Security Instrument, and without waiving or releasing Borrower from any of its obligations hereunder, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act or take any action as may be appropriate to cause all the terms, covenants and conditions of any Franchise Agreement or Operating Lease on the part of Borrower to be performed or observed to be promptly performed or observed on behalf of Borrower, to the end that the rights of Borrower in, to and under any Franchise Agreement and Operating Lease shall be kept unimpaired and free from default. Lender and any Person designated by Lender shall have, and are hereby granted, the right to enter upon the Property at any time and from time to time for the purpose of taking any such action. If the franchisor under any Franchise Agreement or lessee under an Operating Lease shall deliver to Lender a copy of any notice sent to Borrower of default under any Franchise Agreement or Operating Lease, as applicable, such notice shall constitute full protection to Lender for any action to be taken by Lender in good faith, in reliance thereon. Borrower shall, from time to time, use its best efforts to obtain from the franchisor or lessee under any Franchise Agreement such certificates of estoppel with respect to compliance by Borrower with the terms of any Franchise Agreement as may be requested by Lender. Borrower shall exercise each individual option, if any, to extend or renew the term of any Franchise Agreement within four (4) months of the last day upon which any such option may be exercised, unless Lender consents to the non-renewal of such Franchise Agreement in writing, and Borrower hereby expressly authorizes and appoints Lender its attorney-in-fact to exercise any such option in the name of and upon behalf of Borrower, which power of attorney shall be irrevocable and shall be deemed to be coupled with an interest, provided, however, that Lender shall not exercise such power of attorney unless and until Borrower fails to take the actions required herein.