Existing Management Agreements Clause Samples
The 'Existing Management Agreements' clause defines how current management contracts related to a property or business are handled during a transaction. It typically outlines whether these agreements will be terminated, assigned to the new owner, or remain in effect, and may require the seller to provide copies or details of such agreements to the buyer. This clause ensures that both parties are aware of ongoing management obligations and helps prevent disputes over responsibility for management services after the transaction closes.
Existing Management Agreements. Any and all Contracts (the "Prior Management Agreements") between Mediacom Management Corporation, a Delaware corporation, and the Company or any of its Subsidiaries providing for Mediacom Management Corporation to render managerial services to the Company and/or any of its Subsidiaries are terminated and cancelled as of the Effecti"e Date.
Existing Management Agreements. 1.1.90 Property Reports 1.1.104 Seller’s Knowledge
Existing Management Agreements. Seller shall cause each Property Owner to terminate each Existing Management Agreement, only with respect to the Property, at or prior to Closing. All termination fees and any other costs and expenses relating to such termination shall be the responsibility solely of Seller. Seller’s obligations under this Section 3.3(e) shall survive the Closing.
Existing Management Agreements. The Agent shall have received certified copies of all Existing Management Agreements which shall be reasonably satisfactory to Agent and all of the Co-Lenders.
Existing Management Agreements. All property owned by Existing Manager and used at the Hotels or in the Business pursuant to the Existing Management Agreements, including (a) all brand names, trademarks, logos and other intellectual property rights licensed to any Seller or otherwise used by Existing Manager in the Business pursuant to the Existing Management Agreements, and (b) all data, manuals and other information of Existing Manager under the Existing Management Agreements. If the property of any Seller incorporates property of the Existing Manager, the portion of such property that constitutes Existing Manager’s property shall be removed, and the remainder of such property shall be included in the Property.
Existing Management Agreements. Terminate the Existing Management Agreements affecting the Properties at or prior to the Closing. All termination fees and any other costs and expenses relating to such termination shall be the responsibility solely of Seller, and neither Buyer nor the Venture shall have any responsibility or liability therefor.
Existing Management Agreements. At or prior to Closing, Seller Parent shall cause the Target Entities to terminate the franchise agreements and Existing Management Agreements and provide evidence of the termination thereof. Seller Parent and its Affiliates shall indemnify and hold the Purchaser Indemnitees free and harmless from and against all Losses (including for the avoidance of doubt any termination fees and liabilities for key money) incurred by the Purchaser Indemnitees to the extent resulting from the termination of the franchise agreements and Existing Management Agreements and any surviving liabilities with respect to the franchise agreements and Existing Management Agreements.
Existing Management Agreements. Exhibit P accurately identifies each Existing Management Agreement, including the name and date of each (and any amendments, modifications, guarantees and any ancillary documents and agreements related thereto). Other than as described in the Existing Management Agreements, no Person provides any management services to any Hotels. On the Closing Date, there will be no Existing Management Agreements or other hotel management agreements in effect with any Person for the management of any Hotel (other than agreements entered into by Purchaser) and any such Existing Management Agreement shall be terminated, effective on or prior to Closing, by the parties thereto without any cost to Purchaser. Seller shall bear all costs and liabilities, including, but not limited to, any termination fee associated with the termination of any Existing Management Agreement prior to, at or in connection with the Closing.
Existing Management Agreements. Schedule 3.25 sets forth a true and accurate list of all Management Agreements to which the Borrower or any of its Subsidiaries is a party as of the Effective Date (as each may be amended, amended and restated, supplemented or otherwise modified from time to time hereafter, the "Existing Management Agreement"). As of the Effective Date, each Existing Management Agreement is in full force and effect and none of the parties thereto is in breach of or in default under such Existing Management Agreement.
Existing Management Agreements. Although not included in the Property, for the avoidance of doubt, the existing management agreement for each Seller, which shall be terminated by the applicable Seller at Closing; and