Management of the Property Clause Samples

Management of the Property. Grantor further covenants and agrees with Beneficiary as follows: (a) Grantor shall cause the hotel located on the Property to be operated pursuant to the Franchise Agreement and the Management Agreement. (b) Grantor shall: (i) pay all sums required to be paid by Grantor under the Franchise Agreement and the Management Agreement and promptly perform and/or observe all of the covenants and agreements required to be performed and observed by it under the Franchise Agreement and the Management Agreement and do all things necessary to preserve and to keep unimpaired its material rights thereunder; (ii) promptly notify Beneficiary in writing of any default under the Franchise Agreement or the Management Agreement of which it is aware and provide Beneficiary with copies of any notices delivered in connection therewith; (iii) promptly deliver to Beneficiary a copy of each financial statement, business plan, capital expenditures plan, notice, report and estimate received by it under the Franchise Agreement or the Management Agreement; (iv) promptly enforce the performance and observance of all of the covenants and agreements required to be performed and/or observed by the franchisor under the Franchise Agreement and the manager under the Management Agreement; (v) assign to Beneficiary any right it may have to modify the Franchise Agreement or the Management Agreement; (vi) grant Beneficiary the right, but Beneficiary 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 the Franchise Agreement or Management Agreement on the part of Grantor to be performed or observed to be promptly performed or observed on behalf of Grantor, to the end that the rights of Grantor in, to and under the Franchise Agreement or Management Agreement shall be kept unimpaired and free from default; (vii) use its reasonable efforts to obtain, from time to time, from the Franchisor and Manager such certificates of estoppel with respect to compliance by Grantor with the terms of the Franchise Agreement and the Management Agreement as may be reasonably requested by Beneficiary; (viii) exercise each individual option, if any, to extend or renew the term of the Franchise Agreement or Management Agreement upon demand by Beneficiary made at any time within one (1) year of the last day upon which any such option may be exercised, and Grantor hereby expressly authorizes and appoints Beneficiar...

Management of the Property. Occupancy rate expressed as a percentage for each of the last five (5) years.

Management of the Property. Upon obtaining possession of the Property or upon the appointment of a receiver as described in , Administrative Agent or the receiver, as the case may be, may, at its sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, and (c) complete the construction of any unfinished Improvements on the Property and, in connection therewith, continue any and all outstanding contracts for the erection and completion of such Improvements and make and enter into any further contracts which may be necessary, either in their or its own name or in the name of Mortgagor (the costs of completing such Improvements shall be Expenses secured by this Mortgage and shall accrue interest as provided in the Loan Agreement and the other Loan Documents). Administrative Agent or such receiver shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except for gross negligence or willful misconduct. The exercise of the remedies provided in this Section shall not cure or waive any Event of Default, and the enforcement of such remedies, once commenced, shall continue for so long as Administrative Agent shall elect, notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event of Default.

Management of the Property. (a) At the start of the tenancy We will advise You who is responsible for managing the property. (b) Where We are not managing the property please note that We cannot authorise any repairs or maintenance, nor do We act as agent for bringing any management issues to the attention of the landlord. If an issue arises it is your responsibility to contact the landlord directly (c) Where We do manage the property and hold keys and a legitimate issue of repair is raised requiring the landlords attention We will contact him and upon receiving permission to proceed We will use our reasonable endeavors to arrange for contractors to deal with such issue as soon as reasonably practicable, subject to You making all reasonable arrangements to provide or allow access. 12 Anti-Money Laundering Regulations (a) We are subject to Money Laundering Regulations applicable in the UK. As a result We will need to obtain and hold evidence confirming your identity, proof of your address and source / destination of funds. (b) We will be unable to proceed with any offer until We are in receipt of this information and have completed a satisfactory AML check. Your identity may be subject to an electronic identity check, which may leave a footprint on your credit report. Before the tenancy can proceed You need to provide us with photo ID in the form of a valid Passport, UK Driving License or EEA National ID card and proof of your address.

Management of the Property. (a) The Manager shall perform the services for FNF hereunder in a professional and competent manner, using standards of performance consistent with its performance of such services for itself and as otherwise required pursuant to the terms of the Master Lease Agreement and the Subleases. The Manager shall use commercially reasonable efforts to properly protect and account for FNF’s assets. (b) In connection with the management of the Property, the Manager shall duly and punctually perform and comply with, or cause to be performed or complied with, all of the obligations, terms and conditions required to be performed or complied with by FNF under the Master Lease Agreement and the Subleases (copies of which have been made available to the Manager) and, to the extent copies have been provided to the Manager, under any mortgages or deeds of trust affecting the Property, and any other agreements relating to the ownership, financing, development, management, operation, maintenance and servicing of the Property, including, without limitation (to the extent funds of FNF are available), the timely payment of all sums required to be paid thereunder, all to the end that FNF’s interest in the Property and its interest as landlord under the Subleases shall be preserved and no default of FNF shall occur under any of such agreements, so that the Master Lease Agreement and the Subleases (as well as any other relevant agreements) shall remain in full force and effect, with no default by FNF. The Manager shall enforce the full performance of all obligations of each of the Tenants under the Subleases and of the Lessors under the Master Lease Agreement. (c) In addition to providing the services specifically set forth in this Section 2.1 and in Section 2.2 and elsewhere in this Agreement, the Manager shall reasonably consider and accommodate such other services as FNF may reasonably request in connection with the Property or any other properties or facilities owned or leased by FNF (or its subsidiaries) on mutually agreeable terms, and provided that such other services do not negatively affect its ability to manage the other buildings on ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇. in Jacksonville, Florida.

Management of the Property. The Tenant hereby acknowledges to the Landlord that the Property may be managed by any party other than the Landlord, as the Landlord from time to time may in writing designate and, to all intents and purposes, any manager so designated shall be the party at the Property authorized to deal with the Tenant. All payments to Landlord in virtue of this Lease shall be made by cheque payable to the Landlord in full unless otherwise specified in writing by Landlord to Tenant. The Landlord shall have the right to amend and/or rescind the rules and regulations in Schedule "E" from time to time and to make any other reasonable rules and regulations not contrary to the spirit and intent of this Lease as, in its discretion, may from time to time be needful for the safety, care, cleanliness and proper administration of the Property including the Leased Premises, and for the preservation of good order therein, and the same shall be observed and performed by the Tenant and by its customers, and all such rules and regulations now or hereafter to be established by the Landlord as herein provided shall form part of this Lease as if recited at length herein and any such new rules and regulations shall be binding upon Tenant upon written notification from Landlord. Furthermore, in the event that Tenant does not comply with the rules and regulations, Landlord shall have the right, without notice, to enter the Leased Premises and execute any work necessary to rectify Tenant's noncompliance, the cost of which shall immediately, upon Landlord's request, be payable by Tenant as Additional Rental. It is agreed and understood that the terms and conditions of this Lease shall prevail over any of the terms of the rules and regulations.

Management of the Property. Borrower at all times shall provide for the competent and responsible management and operation of the Property. At all times, Borrower shall cause the Property to be managed by an Approved Manager. All management contracts affecting the Property shall permit Lender, any court-appointed receiver, and any Person acquiring title to the Property pursuant to a judicial or non-judicial foreclosure of the Deed of Trust (or the Secured Guaranty Deed of Trust), or any deed in lieu thereof, to terminate such management agreement upon thirty (30) days’ written notice without penalty or charge. All management contracts must be approved in writing by Lender prior to the execution of the same, which approval shall not be unreasonably withheld, conditioned or delayed.

Management of the Property. The management of the Property shall be by either: (i) Borrower or an entity affiliated with Borrower approved by Lender for so long as Borrower or said affiliated entity is managing the Property in a first class manner; or (ii) a professional property management company approved by Lender. Such management by an affiliated entity or a professional property management company shall be pursuant to a written agreement approved by Lender. Any management agreement shall provide for a maximum allowable management fee of 5% of gross revenues. In no event shall any manager be removed or replaced or the terms of any management agreement modified or amended without the prior written consent of Lender. After an Event of Default or a default under any management agreement then in effect, which default is not cured within any applicable grace or cure period, Lender shall have the right to terminate, or to direct Borrower to terminate, such management agreement upon 30 days’ notice and to retain, or to direct Borrower to retain, a new management agent approved by Lender. It shall be a condition of Lender’s consent to any management agreement, whether with an affiliate of Borrower or otherwise, that such manager enter into an agreement with Lender whereby the manager acknowledges and agrees to the aforesaid rights of Lender and as to such other matters as Lender may reasonably require.

Management of the Property. Any breach of the provisions of Section 4.16 hereof shall occur which is not cured by Borrower within fifteen (15) days after Lender gives Borrower notice thereof;