Common use of Appointment of New Manager Clause in Contracts

Appointment of New Manager. Upon termination of the Manager’s employment in whatever manner or in the event that the Manager is wound up or has a receiving order made against it, a meeting of the Owners’ Committee shall immediately be convened to appoint a manager to take its place and such meeting shall appoint a manager who shall on the expiry of the notice given by or, as the case may be, to the Manager immediately thereupon and thenceforth become vested with all the powers and duties of the Manager hereunder and the Owners’ Committee shall on behalf of the Owners enter into a management agreement with such new manager defining its rights duties and obligations. It is hereby declared and agreed that at no time shall there be no duly appointed manager to manage the Land and the Building.

Appointment of New Manager. Upon termination of the Manager’s 's employment in whatever manner or in the event that the Manager is wound up or has a receiving order made against it, a meeting of the Owners’ ' Committee shall immediately be convened to appoint a manager to take its place and such meeting shall appoint a manager who shall on the expiry of the notice given by or, as the case may be, to the Manager immediately thereupon and thenceforth become vested with all the powers and duties of the Manager hereunder and the Owners’ ' Committee shall on behalf of the Owners enter into a management agreement with such new manager defining its rights duties and obligations. It is hereby declared and agreed that at no time shall there be no duly appointed manager to manage the Land and the BuildingDevelopment.

Appointment of New Manager. Upon termination of the Manager’s employment in whatever manner or in the event that the Manager is wound up or has a receiving order made against it, a meeting of the Owners’ Committee shall immediately be convened to appoint a manager to take its place and such meeting shall appoint a manager who shall on the expiry of the notice given by or, as the case may be, to the Manager immediately thereupon and thenceforth become vested with all the powers and duties of the Manager hereunder and the Owners’ Committee shall on behalf of the Owners enter into a management agreement with such new manager defining its rights duties and obligations. It is hereby declared and agreed that at no time shall there be no duly appointed manager to manage the Land and the BuildingDevelopment or any part or parts thereof after the execution of this Deed.

Appointment of New Manager. Upon termination of the Manager’s 's employment in whatever manner or in the event that the Manager is wound up or has a receiving order made against it, a meeting of the Owners’ ' Committee shall immediately be convened to appoint a manager to take its place and such meeting shall appoint a manager who shall on the expiry of the notice given by or, as the case may be, to the Manager immediately thereupon and thenceforth become vested with all the powers and duties of the Manager hereunder and the Owners’ ' Committee shall on behalf of the Owners enter into a management agreement with such new manager defining its rights duties and obligations. It is hereby declared and agreed that at no time shall there be no duly appointed manager to manage the Land and the Building.