Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the “Budget”). If Company does not consent to the Budget submitted By Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.
Appears in 7 contracts
Sources: Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.), Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.), Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.)
Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties Property for the next ensuing calendar year (the “Budget”). If Company does not consent to the Budget submitted By by Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.
Appears in 5 contracts
Sources: Real Property Management Agreement (Hartman vREIT XXI, Inc.), Real Property Management Agreement (Hartman vREIT XXI, Inc.), Real Property Management Agreement (Hartman vREIT XXI, Inc.)
Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the “Budget”). If Company does not consent to the Budget submitted By by Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.
Appears in 5 contracts
Sources: Real Property Management Agreement (Hartman vREIT XXI, Inc.), Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.), Management Agreement (Hartman Short Term Income Properties XX, Inc.)
Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the “"Budget”"). If Company does not consent to the Budget submitted By by Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.
Appears in 2 contracts
Sources: Real Property Management Agreement (Hartman vREIT XXI, Inc.), Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.)
Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the “"Budget”"). If Company does not consent to the Budget submitted By Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.
Appears in 1 contract
Operating Budget. On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the “Budget”). If Company does not consent to the Budget submitted By Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item. .
Appears in 1 contract
Sources: Real Property and Company Management Agreement (Hartman Short Term Income Properties XX, Inc.)