Transition Fee. Within thirty (30) days after execution by all parties to this Agreement, for duties performed by Property Manager in reviewing and abstracting Owner’s leases and contracts, preparing ledgers, creating a database of Owner’s tenants and vendors, establishing property bank account(s), and similar necessary, preliminary functions, Owner shall pay to Property Manager a one-time fee (the “Transition Fee”) in the amount shown on Schedule A attached hereto and incorporated herein by this reference. The Transition Fee shall be based on the number of tenants with active leases at the Property, including those tenants who have executed leases with Owner that have not yet commenced, as of the Commencement Date of this Agreement.
Appears in 2 contracts
Sources: Management and Leasing Agreement, Management and Leasing Agreement (Dividend Capital Total Realty Trust Inc.)