Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.16. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 3 contracts
Samples: Management Agreement (Hospitality Properties Trust), Management Agreement (Hospitality Properties Trust), Management Agreement (Hospitality Properties Trust)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner Licensee and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation obligations under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.168.02. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 2 contracts
Samples: Management Agreement (Five Star Quality Care Inc), Management Agreement (Senior Housing Properties Trust)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; providedPROVIDED, howeverHOWEVER, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section SECTION 24.16. Manager shall not be liable if any such amendment, once operative, fails to have 92 the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 1 contract
Samples: Management Agreement (Hospitality Properties Trust)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.1624.15. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 1 contract
Samples: Management Agreement (Hospitality Properties Trust)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; providedPROVIDED, howeverHOWEVER, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section SECTION 24.16. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 1 contract
Samples: Management Agreement (Hospitality Properties Trust)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner Company and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation obligations under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.168.04. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 1 contract
Samples: Transaction Agreement (Five Star Senior Living Inc.)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager the parties shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, the Manager shall have no obligation to materially reduce its rights or materially increase its obligation obligations under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.168.04. The Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Appears in 1 contract
Samples: Management Agreement (Diversified Healthcare Trust)