Common use of Lender Not Obligated Under Management Agreement Clause in Contracts

Lender Not Obligated Under Management Agreement. Manager further agrees that, except as hereinafter set forth, nothing herein shall impose upon Lender any obligation for payment or performance in favor of Manager. In the event that Lender notifies Manager in writing of the occurrence of a Cash Management Event and that Lender has elected to assert the rights of Borrower under the Management Agreement, Lender shall pay Manager the sums due Manager under the terms of the Management Agreement (subject to and in accordance with the terms of the Management Agreement and this Agreement) for the period commencing on the effective date of Lender's notice to Manager and ending on the expiration date or earlier termination of the Management Agreement.

Lender Not Obligated Under Management Agreement. Manager further agrees that, except as hereinafter set forthprovided in this Section, nothing herein in this Agreement shall impose upon Lender, and Lender shall not have, any obligation for payment or performance in favor of ManagerManager with respect to the Management Agreement or the Property. In the event that Lender notifies Manager in writing of after the occurrence and during the continuance of a Cash Management an Event and of Default that Lender has elected to assert the Borrower's rights of Borrower under the Management Agreement, Lender shall pay Manager the sums due Manager under the terms of the Management Agreement (subject to and in accordance with the terms of the Management Agreement and this Agreement) for the period commencing on the effective date of Lender's notice to Manager and ending on the expiration date or earlier termination of the Management Agreement.

Lender Not Obligated Under Management Agreement. Manager further ----------------------------------------------- agrees that, except as hereinafter set forth, nothing herein shall impose upon Lender any obligation for payment or performance in favor of Manager. In the event that Lender notifies Manager in writing of the occurrence of a Cash Management after an Operative Event and that Lender has elected to assert the rights of Borrower under the Management Agreement, Lender shall pay Manager the sums due Manager under the terms of the Management Agreement (subject to and in accordance with the terms of the Management Agreement and this Agreement) for the period commencing on the effective date of Lender's notice to Manager and ending on the expiration date or earlier termination of the Management Agreement.