Common use of Duration of Management Term Clause in Contracts

Duration of Management Term. The Management Term shall commence as of the Closing Date and shall continue in force with respect to an Owner Compressor until the earliest to occur of: (i) the occurrence of a Compressor Termination Event with respect to such Owner Compressor, (ii) the date on which the Indenture is discharged in accordance with its terms and all Outstanding Obligations (including all amounts owing to any Series Enhancer pursuant to any Enhancement Agreement) have been paid in full, and (iii) with respect to any Manager, the removal and replacement of the Manager in accordance with the provisions of Section 12 hereof. Except as set forth in this Section 3 or Section 12 hereof, the rights and obligations of the Manager hereunder may not be terminated by, or on behalf of, the Issuer or the Lessor for any reason.

Duration of Management Term. The Management Term shall commence as of the Closing Date and shall continue in force with respect to an Owner Compressor until the earliest to occur of: (i) the occurrence of a Compressor Termination Event with respect to such Owner Compressor, (ii) the date on which the Indenture is discharged in accordance with its terms and all Outstanding Obligations (including all amounts owing to any Series Enhancer pursuant to any Enhancement Agreement) have been paid in full, and (iii) with respect to any Manager, the removal and replacement of the Manager in accordance with the provisions of Section 12 hereof. Except as set forth in this Section 3 or Section 12 hereof, the rights and obligations of the Manager hereunder may not be terminated by, or on behalf of, the Issuer or the Lessor for any reason.

Duration of Management Term. The Management Term shall commence as of the Closing Date date hereof and shall continue in force with respect to an Owner Compressor until the earliest to occur of: of (i) the occurrence of a Compressor Termination Event Casualty Loss with respect to such Owner Compressor, (ii) the date on which the Indenture is discharged in accordance with its terms and all Outstanding Obligations (including the Lessor and its partners have received payment in full of all amounts owing to any Series Enhancer them pursuant to any Enhancement Agreement) have been paid in fullthe terms of the limited partnership agreement of the Head Lessor, and (iii) with respect to any Manager, the removal and replacement of the Manager in accordance with the provisions of Section 12 hereof. Except as set forth in this Section 3 or Section 12 hereof, the rights and obligations of Universal as the initial Manager hereunder may not be terminated by, on or on behalf of, the Issuer or the Lessor Owner for any reason.