Common use of Action Upon Termination Clause in Contracts

Action Upon Termination. 10.5.1 From and after the effective date of the termination of this Agreement, the Manager shall not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day). 10.5.2 Upon any termination of this Agreement, the Manager shall forthwith: 10.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager Service Providers shall not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day). 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager Service Providers shall forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Service Provider Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager shall Service Providers will not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day)termination. 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager shall Service Providers will forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Service Provider Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager shall Managers will not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day)termination. 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager shall Managers will forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager shall will not be entitled to receive the Base Management Service Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such dayor acquisition). 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager shall will forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and; 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Group; and 11.5.2.4 cooperate with PMC Commercial and the Subsidiaries in executing an orderly transition of the management of PMC Commercial’s consolidated assets to PMC Commercial or a new manager.

Action Upon Termination. 10.5.1 From and after the effective date of the termination of this Agreement, the Manager shall not be entitled to receive the Base Management Annual Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day). 10.5.2 Upon any termination of this Agreement, the Manager shall forthwithpromptly: 10.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager shall Service Providers will not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day)termination. 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager shall Service Providers will forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ ' Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ ' Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Service Provider Group.

Action Upon Termination. 10.5.1 11.5.1 From and after the effective date of the termination of this Agreement, the Manager shall Service Providers will not be entitled to receive the Base Management Fee for further Services under this Agreement, but will be paid all compensation accruing to and including the date of termination (including such day)termination. 10.5.2 11.5.2 Upon any termination of this Agreement, the Manager shall Service Providers will forthwith: 10.5.2.1 11.5.2.1 after deducting any accrued compensation and reimbursements for any Expenses to which it is then entitled, pay over to the Service Recipients all money collected and held for the account of the Service Recipients pursuant to this Agreement; 10.5.2.2 11.5.2.2 deliver to the Service Recipients’ Governing Bodies 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 Governing Bodies with respect to the Service Recipients; and 10.5.2.3 11.5.2.3 deliver to the Service Recipients’ Governing Bodies all property and documents of the Service Recipients then in the custody of the Manager Service Provider Group.