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Common use of Action Upon Termination Clause in Contracts

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 20 contracts

Samples: Agreement and Plan of Merger (ZAIS Financial Corp.), Management Agreement (ZAIS Financial Corp.), Management Agreement (ZAIS Financial Corp.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated or not renewed pursuant to Section 13(a) or Section 15(b)10, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.

Appears in 12 contracts

Samples: Management Agreement (Anworth Mortgage Asset Corp), Management Agreement (American Capital Mortgage Investment Corp.), Management Agreement (American Capital, LTD)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Trust or a Subsidiary all money collected and held for the account of the Company Trust or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors Trustees a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Trustees with respect to the Company or a Trust and any Subsidiary; and; (iiic) deliver to the Board of Directors Trustees all property and documents of the Company or Trust and any Subsidiary then in the custody of the Manager.; and

Appears in 8 contracts

Samples: Management Agreement (PennyMac Mortgage Investment Trust), Management Agreement (PennyMac Financial Services, Inc.), Management Agreement (PennyMac Mortgage Investment Trust)

Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 8 contracts

Samples: Management and Advisory Agreement (FTAI Infrastructure Inc.), Management and Advisory Agreement, Management and Advisory Agreement (Drive Shack Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 7 contracts

Samples: Management Agreement (Exantas Capital Corp.), Management Agreement (Resource Capital Corp.), Management Agreement (Resource Capital Corp.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 14 or 15 Section 16 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a16(b) or Section 15(b16(c), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.

Appears in 4 contracts

Samples: Advisory Agreement, Advisory Agreement (City Office REIT, Inc.), Advisory Agreement (City Office REIT, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a and any Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary then in the custody of the Manager.

Appears in 3 contracts

Samples: Management Agreement (Five Oaks Investment Corp.), Management Agreement (AG Mortgage Investment Trust, Inc.), Management Agreement (AG Mortgage Investment Trust, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections Section 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a and any Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary then in the custody of the Manager.

Appears in 3 contracts

Samples: Management Agreement (Angel Oak Mortgage REIT, Inc.), Management Agreement (Angel Oak Mortgage, Inc.), Management Agreement (Angel Oak Mortgage, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 3 contracts

Samples: Management Agreement (Deerfield Triarc Capital Corp), Management Agreement (CBRE Realty Finance Inc), Management Agreement (CBRE Realty Finance Inc)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Silver Bay Realty Trust Corp.), Management Agreement (Silver Bay Realty Trust Corp.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, except pursuant to any separate written management termination agreement that may be negotiated by the parties, but shall be paid all any compensation accruing to through the date of termination andtermination, if terminated pursuant to Section 13(a) or Section 15(b), including the applicable Termination FeeNon-Competition Payment. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all any subsidiary of the Company any money collected and held for the account of the Company or a Subsidiary any subsidiary of the Company pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryany subsidiary of the Company; (c) pay to the Company all sums set forth on the accounting referenced in (b) above; and (iiid) deliver to the Board of Directors all property and documents of the Company or any Subsidiary subsidiary of the Company then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Clarion Commercial Holdings Inc), Management Agreement (Laser Mortgage Management Inc)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (KKR Financial Holdings LLC), Management Agreement (KKR Financial Corp)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Invesco Mortgage Capital Inc.), Management Agreement (Invesco Mortgage Capital Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Trust or a Subsidiary all money collected and held for the account of the Company Trust or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors Trustees a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Trustees with respect to the Company or a Trust and any Subsidiary; and (iiic) deliver to the Board of Directors Trustees all property and documents of the Company or Trust and any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (PennyMac Mortgage Investment Trust), Management Agreement (PennyMac Mortgage Investment Trust)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.

Appears in 2 contracts

Samples: Investment Advisory Agreement (ZAIS Financial Corp.), Investment Advisory Agreement (ZAIS Financial Corp.)

Action Upon Termination. From and after the effective date of expiration or earlier termination of this Agreement, pursuant to Sections 13 or 15 of this AgreementAgreement or otherwise, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Annaly Capital Management Inc), Management Agreement (Annaly Capital Management Inc)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors Company a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Company with respect to the Company or a SubsidiarySubsidiaries; and (iii) deliver to the Board of Directors Company all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.

Appears in 2 contracts

Samples: Advisory Agreement (JMP Group Inc.), Advisory Agreement (New York Mortgage Trust Inc)

Action Upon Termination. From and after the effective date of expiration or termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated this Agreement is not renewed pursuant to Section 13(a) or Section 15(b)10, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Care Investment Trust Inc.), Management Agreement (Care Investment Trust Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 Section 10, Section 11(a), Section 12, or 15 of this AgreementSection 13, the Manager Advisor shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), plus Incentive Compensation through and including the applicable Termination Feelast day of the month during which the termination of this Agreement occcurred. Upon any such termination, the Manager Advisor shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the ManagerAdvisor.

Appears in 2 contracts

Samples: Advisory Agreement, Advisory Agreement (Global Net Lease, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)13, the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Ocwen Asset Investment Corp), Management Agreement (Ocwen Asset Investment Corp)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 12(a), 12(c) or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a12(a) or Section 15(b14(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Western Asset Mortgage Capital Corp), Management Agreement (Terra Property Trust, Inc.)

Action Upon Termination. From and after the effective date of ----------------------- termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)13, the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager. (d) if the Company terminates this Management Agreement, the Manager may require the Company, at the Company's expense, to register for public resale shares of Common Stock acquired by the Manager or its affiliates within two (2) years of the termination of the Management Agreement.

Appears in 2 contracts

Samples: Management Agreement (Wilshire Financial Services Group Inc), Management Agreement (Wilshire Real Estate Investment Trust Inc)

Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Company, New Parent or a Subsidiary all money collected and held for the account of the Company or a Subsidiary such entity pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company Company, New Parent or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company Company, New Parent or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management and Advisory Agreement (Fortress Transportation & Infrastructure Investors LLC)

Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager. (b) The provisions of this Section 16 shall survive the expiration or earlier termination of this Agreement.

Appears in 1 contract

Samples: Management Agreement (LNR Capital CORP)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 14 or 15 Section 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (PIMCO Mortgage Income Trust Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement15, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary Partnership all money collected and held for the account of the Company or a Subsidiary Partnership pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a SubsidiaryPartnership; and (iiic) deliver to the Board of Directors all property and documents of the Company Partnership or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Services Agreement (Markwest Energy Partners L P)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 sections 13, 14 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) section 13 or Section section 15(b), the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (Cypress Sharpridge Investments, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (Cypress Sharpridge Investments, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreementagreement, pursuant to Sections 13 sections 13, 14 or 15 of this Agreementagreement, the Manager shall not be entitled to compensation for further services under this Agreementagreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) section 13 or Section section 15(b), the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (Cypress Sharpridge Investments, Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14, 15 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (Ladder Capital Realty Finance Inc)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, except as otherwise specified in Section 13(b) of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination andtermination, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feeincluding accrued and unpaid incentive compensation. Upon such termination, the Manager shall forthwith: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary any subsidiary of the Company all money collected and held for the account of the Company or a Subsidiary any subsidiary of the Company pursuant to this Agreement; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryany subsidiary of the Company; and (iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary subsidiary of the Company then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (American Residential Investment Trust Inc)

Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be immediately paid all compensation accruing to the effective date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)applicable, the applicable Termination Fee. Upon such As soon as practicable after the effective date of termination, the Manager shall forthwithshall: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management and Advisory Agreement (Springleaf REIT Inc.)

Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 14 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Person designated by the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.

Appears in 1 contract

Samples: Management Agreement (Foursquare Capital Corp)