The Operating Management Agreement serves as a comprehensive framework for outsourcing operational management responsibilities while maintaining quality control and accountability. This document is essential when a business or property owner wishes to delegate day-to-day management to a professional management company while retaining ownership. It addresses key aspects such as service scope, performance standards, fee structures, and risk allocation, all while ensuring compliance with U.S. federal and state regulations. The agreement is particularly crucial for businesses seeking professional management expertise without transferring ownership rights.
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1. Parties: Identification of the contracting parties and their legal status
2. Background: Context and purpose of the management agreement
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of management services to be provided
5. Term and Termination: Duration of agreement and termination conditions
6. Compensation: Fee structure and payment terms
7. Obligations and Responsibilities: Duties of both parties
8. Compliance with Laws: Requirements to comply with applicable federal, state and local laws
9. Governing Law: Specification of jurisdiction and applicable law
1. Performance Metrics: Specific KPIs and performance standards for management services
2. Intellectual Property: IP ownership and usage rights in management operations
3. Force Majeure: Provisions for unforeseeable circumstances affecting performance
4. Data Protection and Privacy: Requirements for handling sensitive information and compliance with privacy laws
5. Environmental Compliance: Specific provisions related to environmental regulations and responsibilities
1. Schedule A - Service Level Agreement: Detailed service specifications and performance standards
2. Schedule B - Fee Schedule: Detailed breakdown of fees and payment structure
3. Schedule C - Key Personnel: List of key management team members and their roles
4. Schedule D - Operating Procedures: Detailed operational guidelines and protocols
5. Schedule E - Insurance Requirements: Required insurance coverage and limits
6. Schedule F - Compliance Requirements: Detailed listing of applicable laws and regulations
Relevant legal definitions
Agreement
Applicable Laws
Base Management Fee
Business Day
Commencement Date
Confidential Information
Effective Date
Emergency
Facility
Force Majeure Event
Gross Operating Revenue
Incentive Fee
Initial Term
Intellectual Property Rights
Key Performance Indicators
Management Services
Manager
Operating Accounts
Operating Budget
Operating Expenses
Operating Standards
Owner
Performance Metrics
Personnel
Property
Renewal Term
Reports
Service Level Requirements
Standard Operating Procedures
Term
Termination Date
Working Capital
Applicable Laws
Base Management Fee
Business Day
Commencement Date
Confidential Information
Effective Date
Emergency
Facility
Force Majeure Event
Gross Operating Revenue
Incentive Fee
Initial Term
Intellectual Property Rights
Key Performance Indicators
Management Services
Manager
Operating Accounts
Operating Budget
Operating Expenses
Operating Standards
Owner
Performance Metrics
Personnel
Property
Renewal Term
Reports
Service Level Requirements
Standard Operating Procedures
Term
Termination Date
Working Capital
Clauses
Scope of Services
Term and Renewal
Management Fees
Operating Standards
Performance Standards
Staffing and Personnel
Budget and Financial Management
Reporting Requirements
Insurance
Indemnification
Confidentiality
Intellectual Property
Non-Compete
Force Majeure
Termination Rights
Assignment and Delegation
Compliance with Laws
Health and Safety
Environmental Compliance
Dispute Resolution
Notices
Representations and Warranties
Record Keeping
Operating Accounts
Capital Expenditure
Emergency Procedures
Maintenance and Repairs
Quality Control
Sub-contracting
Governing Law
Limitation of Liability
Amendment and Modification
Severability
Entire Agreement
Term and Renewal
Management Fees
Operating Standards
Performance Standards
Staffing and Personnel
Budget and Financial Management
Reporting Requirements
Insurance
Indemnification
Confidentiality
Intellectual Property
Non-Compete
Force Majeure
Termination Rights
Assignment and Delegation
Compliance with Laws
Health and Safety
Environmental Compliance
Dispute Resolution
Notices
Representations and Warranties
Record Keeping
Operating Accounts
Capital Expenditure
Emergency Procedures
Maintenance and Repairs
Quality Control
Sub-contracting
Governing Law
Limitation of Liability
Amendment and Modification
Severability
Entire Agreement
Relevant Industries
Relevant Teams
Relevant Roles
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