Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and the terms and provisions of Section 9.4 of the Loan Agreement. Manager agrees that it will act in conformity with the provisions of this Assignment, such provisions of the Loan Agreement and Lender’s rights hereunder or otherwise related to the Management Agreement. In the event that the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Management Agreement is terminated. Further, Manager hereby agrees (a) not to contest or impede the exercise by Lender of any right it has under or in connection with this Assignment; and (b) that it shall, in the manner provided for in this Assignment, give at least thirty (30) days prior written notice to Lender of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to the terms and provisions of this Assignment and Section 7.3 of the Loan Agreement. Manager agrees that it will act in conformity with the provisions of this Assignment and Lender’s rights hereunder or otherwise related to the Management Agreement. In the event that the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Management Agreement is terminated. Further, Manager shall (a) not contest or impede the exercise by Lender of any right it has under or in connection with this Assignment; (b) in the manner provided for in this Assignment, give at least thirty (30) days prior written notice to Lender of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property and (c) not amend any of the provisions or terms of the Management Agreement without the prior consent of Lender.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and the terms and provisions of Section 9.5 of the Loan Agreement. Manager agrees that it will act in conformity with the provisions of this Assignment, the provisions of Section 9.5 of the Loan Agreement and Lender’s rights hereunder or otherwise related to the Tower Management Agreement. In the event that the responsibility for the management of the Tower Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Tower Management Agreement is terminated. Further, Manager hereby agrees (a) not to contest or impede the exercise by Lender of any right it has under or in connection with this Assignment and (b) that it shall, in the manner provided for in this Assignment, give at least thirty (30) days prior written notice to Lender of its intention to terminate the Tower Management Agreement or otherwise discontinue its management of the Tower Property, and (c) not to amend any of the provisions or terms of the Tower Management Agreement without the prior written consent of Lender, which shall not be unreasonably withheld or delayed. Subject to the terms of Section 5(a) hereof, Manager shall be entitled to collect from Tower Mortgage Borrower any Tower Management Fee or other fee, commission or other amount accrued but unpaid prior to the transfer of the responsibility for the management of the Tower Property to which Manager was entitled under this Assignment.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and the terms and provisions of Section 4.14 of the Loan Agreement (a copy of which has been received by Manager). Manager agrees that it will act in conformity with the provisions of this Assignment, such provisions of the Loan Agreement and Lender's rights hereunder or otherwise related to the Management Agreement. In the event that the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Management Agreement is terminated. Further, Manager hereby agrees (a) not to contest or impede the exercise by Lender of any right it has under or in connection with this Assignment; (b) that it shall, in the manner provided for in this Assignment, give at least thirty (30) days prior written notice to Lender of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property and (c) not amend any of the terms or provisions of the Management Agreement without the prior consent of Lender not to be unreasonably withheld or delayed.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Agreement and agrees that Manager will act in conformity with the provisions of this Agreement and Lender’s rights hereunder.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and agrees that Manager will act in conformity with the provisions of this Assignment and the rights of Agent and Lenders hereunder or otherwise related to the Management Agreement. If the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than 30 days from the date the Management Agreement is terminated. Further, Manager hereby agrees (a) not to contest or impede the exercise by Agent and Lenders of any right they have under or in connection with this Assignment and (b) that Manager shall give at least 30 days prior written notice to Agent of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and agrees that Manager will act in conformity with the provisions of this Assignment and Agent’s rights hereunder or otherwise related to the Management Agreement. In the event that the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Management Agreement is terminated. Further, Manager shall (a) not contest or impede the exercise by Agent of any right it has under or in connection with this Assignment; (b) in the manner provided for in this Assignment, give at least thirty (30) days prior written notice to Agent of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property and (c) not amend any of the provisions or terms of the Management Agreement without the prior consent of Agent.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Agreement and agrees that Manager will act in conformity with the provisions of this Agreement and Xxxxxx’s rights hereunder or otherwise related to the Management Agreement. If the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager will, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than ten (10) days from the date the Management Agreement is terminated. If Xxxxxx succeeds to the interests of Borrower, or in the event Lender exercises its option to terminate the Management Agreement, notwithstanding any provision of the Management Agreement to the contrary, no termination fee, commission (unpaid or otherwise), construction management fee, development fee, administrative fee, charge, penalty or other compensation shall be due and payable by Lender to Manager as a result thereof. Manager expressly acknowledges that by accepting the assignment of the Management Agreement or by exercising any of its rights by reason thereof, Lender does not assume any obligations or liabilities of Borrower under the Management Agreement and that Lender shall not have any obligation to Manager to exercise its rights under, or to declare a default under, the Loan Agreement or the other Loan Documents, but that the right and option to exercise such rights or declare a default rests in the sole and absolute discretion of Lender.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Agreement and agrees that Manager will act in conformity with the provisions of this Agreement and Administrative Agent’s rights hereunder or otherwise related to the Management Agreement. If the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager will, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than ten (10) days from the date the Management Agreement is terminated. If Administrative Agent or any other Lender succeeds to the interests of Borrower, or in the event Administrative Agent exercises its option to terminate the Management Agreement, notwithstanding any provision of the Management Agreement to the contrary, no termination fee, commission (unpaid or otherwise), construction management fee, development fee, administrative fee, charge, penalty or other compensation shall be due and payable by Administrative Agent or any Lender to Manager as a result thereof. Manager expressly acknowledges that by accepting the assignment of the Management Agreement or by exercising any of its rights by reason thereof, Neither Administrative Agent nor any other Lender assumes any obligations or liabilities of Borrower under the Management Agreement and that neither Administrative Agent nor any other Lender shall have any obligation to Manager to exercise its rights under, or to declare a default under, the Loan Agreement or the other Loan Documents, but that the right and option to exercise such rights or declare a default rests in the sole and absolute discretion of Administrative Agent, subject to the rights of Lenders set forth in the Loan Agreement.
Consent and Agreement by Manager. Manager hereby acknowledges and consents to this Assignment and agrees that Manager will act in conformity with the provisions of this Assignment and Administrative Agent’s rights hereunder or otherwise related to the Management Agreement. In the event that the responsibility for the management of the Property is transferred from Manager in accordance with the provisions hereof, Manager shall, and hereby agrees to, fully cooperate in transferring its responsibility to a new management company and effectuate such transfer no later than thirty (30) days from the date the Management Agreement is terminated. Further, Manager hereby agrees
(a) not to contest or impede the exercise by Administrative Agent of any right it has under or in connection with this Assignment; and (b) that it shall, in the manner provided for in this Assignment, give at least thirty (30) days’ prior written notice to Administrative Agent of its intention to terminate the Management Agreement or otherwise discontinue its management of the Property.
