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| duty of care agreement (PLC (c): A standard form duty of care agreement (sometimes referred to as a direct agreement) between a borrower, a property manager (or managing agent) and a security trustee or lender. It can be used either in a syndicated or bilateral real estate finance transaction where the borrower has appointed a managing agent under a management agreement to collect and administer the rent and service charge from a property. 'More) | |||