Common use of Event of Default Created by a Management Agreement Breach Clause in Contracts

Event of Default Created by a Management Agreement Breach. (a) Affiliate Remains as Manager or Interim Manager Appointed. Upon an Event of Default created by a Management Agreement Breach (so long as at such time an Event of Default not created by a Management Agreement Breach as to which Administrative Agent has given Sprint PCS notice is not in existence), Sprint PCS may by prior written notice to Administrative Agent (i) allow Affiliate to continue to act as the Manager under the Sprint Agreements if approved by the Administrative Agent, (ii) act as Interim Manager under the Sprint Agreements (in the case of Sprint Spectrum) or appoint Sprint Spectrum as Interim Manager (in the case of SprintCom), or (iii) appoint a Sprint Spectrum Designee to act as Interim Manager under the Sprint Agreements as provided in paragraph (b) below. If Sprint PCS initially allows Affiliate to continue to act as the Manager under the Sprint Agreements, Sprint PCS may later remove the Affiliate as Manager and take the action described above in clauses (ii) and (iii). The Administrative Agent shall have no right to appoint an Interim Manager when an Event of Default is caused by a Management Agreement Breach (unless an Event of Default not created by a Management Agreement Breach is in existence), unless Sprint PCS elects not to act as Interim Manager or to appoint a Sprint Spectrum Designee.

Appears in 3 contracts

Samples: Consent and Agreement (Alamosa PCS Holdings Inc), Consent and Agreement (Alamosa Holdings Inc), Consent and Agreement (Alamosa PCS Holdings Inc)

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Event of Default Created by a Management Agreement Breach. (a) Affiliate Remains as Manager or Interim Manager Appointed. Upon an Event of Default created by a Management Agreement Breach or an Event of Termination (so long as at such time an Event of Default not created by a Management Agreement Breach or an Event of Termination as to which Administrative Agent has given Sprint PCS notice is not in existence), Sprint PCS may by prior written notice to the Administrative Agent (i) allow each Affiliate to continue to act as the Manager under the its respective Sprint Agreements if approved by the Administrative Agent, (ii) act as Interim Manager under all of the Alamosa Sprint Agreements (in the case of Sprint Spectrum) or appoint Sprint Spectrum as Interim Manager (in the case of SprintComSprintCom or Cox License), or (iii) appoint a Sprint Spectrum Designee to act as Interim Manager under all of the Alamosa Sprint Agreements as provided in paragraph (b) below. If Sprint PCS initially allows Affiliate the Affiliates to continue to act as the Manager Managers under the Alamosa Sprint Agreements, Sprint PCS may later remove the Affiliate Affiliates as Manager Managers and take the action described above in clauses (ii) and (iii); provided, however, that if Sprint PCS acts as Interim Manager or appoints an Interim Manager for one Affiliate, then Sprint PCS must act as Interim Manager or appoint an Interim Manager for each of the other Affiliates. The Administrative Agent shall have no right to appoint an Interim Manager when an Event of Default is caused by a Management Agreement Breach or an Event of Termination (unless an Event of Default not created by a Management Agreement Breach or an Event of Termination is in existence), unless Sprint PCS elects not to act as Interim Manager or to appoint a Sprint Spectrum DesigneeDesignee with respect to the Affiliate that is subject to the Management Agreement Breach or Event of Termination.

Appears in 3 contracts

Samples: Consent and Agreement (Alamosa Properties Lp), Consent and Agreement (Alamosa Holdings Inc), Credit Agreement (Alamosa Holdings Inc)

Event of Default Created by a Management Agreement Breach. (a) Affiliate Remains as Manager or Interim Manager Appointed. --------------------------------------------------------- Upon an Event of Default created by a Management Agreement Breach (so long as at such time an Event of Default not created by a Management Agreement Breach as to which Administrative Agent has given Sprint PCS notice is not in existence), Sprint PCS may by prior written notice to Administrative Agent (i) allow Affiliate to continue to act as the Manager under the Sprint Agreements if approved by the Administrative Agent, (ii) act as Interim Manager under the Sprint Agreements (in the case of Sprint Spectrum) or appoint Sprint Spectrum as Interim Manager (in the case of SprintCom), or (iii) appoint a Sprint Spectrum Designee to act as Interim Manager under the Sprint Agreements as provided in paragraph (b) below. If Sprint PCS initially allows Affiliate to continue to act as the Manager under the Sprint Agreements, Sprint PCS may later remove the Affiliate as Manager and take the action described above in clauses (ii) and (iii). The Administrative Agent shall have no right to appoint an Interim Manager when an Event of Default is caused by a Management Agreement Breach (unless an Event of Default not created by a Management Agreement Breach is in existence), unless Sprint PCS elects not to act as Interim Manager or to appoint a Sprint Spectrum Designee.

Appears in 1 contract

Samples: Consent and Agreement (Unwired Telecom Corp)

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Event of Default Created by a Management Agreement Breach. (a) Affiliate Remains as Manager or Interim Manager Appointed. Upon --------------------------------------------------------- an Event of Default created by a Management Agreement Breach (so long as at such time an Event of Default not created by a Management Agreement Breach as to which Administrative Agent has given Sprint PCS notice is not in existence), Sprint PCS may by prior written notice to Administrative Agent (i) allow Affiliate to continue to act as the Manager under the Sprint Agreements if approved by the Administrative Agent, (ii) act as Interim Manager under the Sprint Agreements (in the case of Sprint Spectrum) or appoint Sprint Spectrum as Interim Manager (in the case of SprintCom), or (iii) appoint a Sprint Spectrum Designee to act as Interim Manager under the Sprint Agreements as provided in paragraph (b) below. If Sprint PCS initially allows Affiliate to continue to act as the Manager under the Sprint Agreements, Sprint PCS may later remove the Affiliate as Manager and take the action described above in clauses (ii) and (iii). The Administrative Agent shall have no right to appoint an Interim Manager when an Event of Default is caused by a Management Agreement Breach (unless an Event of Default not created by a Management Agreement Breach is in existence), unless Sprint PCS elects not to act as Interim Manager or to appoint a Sprint Spectrum Designee.

Appears in 1 contract

Samples: Consent and Agreement (Agw Leasing Co Inc)

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