Existing Manager Clause Samples
The 'Existing Manager' clause defines the rights, responsibilities, or status of a manager who is already in place prior to a new agreement or transaction. Typically, this clause clarifies whether the current manager will continue in their role, outlines any changes to their authority, or specifies the terms under which their management may be altered or terminated. For example, it may state that the existing manager will remain in charge unless certain conditions are met, or that their compensation and duties will be adjusted according to the new arrangement. The core function of this clause is to ensure continuity and clarity regarding management during transitions, preventing disputes or confusion about leadership roles.
Existing Manager. Marriott Hotel Services, Inc., a Delaware corporation.
Existing Manager. At or prior to the Closing, Seller shall terminate the Existing Manager, and Seller shall be solely responsible for all claims and liabilities to the Existing Manager arising prior to or following the Closing Date. Seller shall be responsible for paying all costs related to the termination of the Existing Manager.
Existing Manager. The parties to this Agreement understand and agree that the Manager is entering into this Assignment only in connection with the Existing Management Agreement. Accordingly, and notwithstanding anything to the contrary set forth in this Assignment or otherwise, the Manager shall have absolutely no obligations or liabilities whatsoever under this Assignment or otherwise to Landlord and/or Tenant with respect to any Management Agreement other than the Existing Management Agreement.
Existing Manager. Outrigger Lodging Services, a Nevada limited partnership, which operates the Hotel as of the Contract Date pursuant to the Existing Management Agreement.
Existing Manager. As of the date of this Agreement the Manager is Noble Real Estate, LLC.