The Property Manager and the Special Servicer Sample Clauses

This clause defines the roles and responsibilities of the Property Manager and the Special Servicer in relation to the management and servicing of a property, typically within a commercial real estate or loan agreement. It outlines the authority each party has, such as the Property Manager's duties in day-to-day operations and the Special Servicer's involvement in handling defaulted or specially managed assets. By clearly delineating these roles, the clause ensures efficient property oversight and provides a framework for addressing issues that may arise during the property's lifecycle, thereby minimizing confusion and potential disputes between parties.