Management Agents’ and Brokers’ Contracts Sample Clauses

Management Agents’ and Brokers’ Contracts. Borrower shall not enter into, modify, amend, waive any material provision of, terminate or cancel any management agreement for the Property without the prior written approval of Lender. If, in the ordinary course of business, Borrower shall enter into, modify, amend, waive any provision of, terminate or cancel any contracts or agreements (other than property management agreements) with leasing agents or brokers, Borrower shall notify Lender within ten (10) days after such action.
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Management Agents’ and Brokers’ Contracts. Borrower shall not enter into, modify, or amend any management contracts for the Project or agreements with agents or brokers, without the prior written approval of Lender which approval shall not unreasonably be withheld, conditioned or delayed. All such contracts shall be subordinate to the Loan and the Loan Documents.
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Management Agents’ and Brokers’ Contracts. Each Borrower agrees not to enter into, modify, amend or waive any material provision of, terminate or cancel any management contracts for any Project without the prior written approval of Lender, which shall not be unreasonably withheld, conditioned or delayed; provided, however, that any Affiliated Party may enter into, modify and/or terminate contracts with third parties for certain property management services for a Project so long as (i) such third parties do not have any responsibility for collecting rents or paying any bills of such Project or any part thereof; (ii) such contracts may be terminated at any time without penalty upon Lender’s taking actual possession of the affected Project; and (iii) the applicable Borrower shall provide Lender with a copy of all such third party contracts within ten (10) business days after Lender’s request therefor. Each Borrower shall also provide Lender with true and complete copies of all leasing and brokerage agreements affecting the Project or portion thereof owned by it within ten (10) days after Lender’s request therefor.
Sample 1
Management Agents’ and Brokers’ Contracts. Enter into, modify, or amend any management contracts for the Property or agreements with agents or brokers, without the prior written approval of Lender which approval shall not unreasonably be withheld. All such contracts shall be subordinate to the Loan and the Loan Documents.
Sample 1
Management Agents’ and Brokers’ Contracts. Except for contracts terminable on not more than thirty (30) days notice and which are subordinated to the Loan, Mortgagors shall not enter into, modify, amend, waive any material provision of, terminate or cancel any management contracts for any Property without the prior written approval of Lender which shall not be unreasonably withheld. If, in the ordinary course of business, a Mortgagor shall enter into any contracts or agreements (other than management contracts) with leasing agents or brokers for any Property, the Mortgagor shall notify Lender within ten (10) days after such action.
Sample 1
Management Agents’ and Brokers’ Contracts. The Borrower shall not engage a management agent without first obtaining the prior consent of the Administrative Agent, which shall not be unreasonably withheld, of such management agent and the management agreement by which the agent is retained. The Borrower shall not enter into, modify, amend, waive in any respect any provision of, terminate or cancel any management contracts for the Project, without the prior written approval of the Administrative Agent. After the occurrence and during the continuance of an Event of Default, the Administrative Agent may, in its sole discretion, require the Borrower to terminate any management agreement and retain a manager acceptable to Administrative Agent.
Sample 1

Related to Management Agents’ and Brokers’ Contracts

  • Existing Management and Franchise Agreements Seller has furnished to Buyer true and complete copies of the Existing Management Agreement and the Existing Franchise Agreement, which constitutes the entire agreement of the parties thereto with respect to the subject matter thereof and which have not been amended or supplemented in any respect. There are no other management agreements, franchise agreements, license agreements or similar agreements for the operation or management of the Hotel or relating to the Brand, to which Seller is a party or which are binding upon the Property, except for the Existing Management Agreement and the Existing Franchise Agreement. The Improvements comply with, and the Hotel is being operated in accordance with, all requirements of such Existing Management Agreement and the Existing Franchise Agreement and all other requirements of the Existing Manager and the Franchisor, including all “brand standard” requirements of the Existing Manager and the Franchisor. The Existing Management Agreement and the Existing Franchise Agreement are in full force and effect, and shall remain in full force and effect until the termination of the Existing Management Agreement and the Existing Franchise Agreement at Closing, as provided in Article V hereof. No default has occurred and is continuing under the Existing Management Agreement or the Existing Franchise Agreement, and no circumstances exist which, with the giving of notice, the lapse of time or both, would constitute such a default.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Landlord and Storage Agreements Upon request, provide Agent with copies of all existing agreements, and promptly after execution thereof provide Agent with copies of all future agreements, between an Obligor and any landlord, warehouseman, processor, shipper, bailee or other Person that owns any premises at which any Collateral may be kept or that otherwise may possess or handle any Collateral.

  • Management Contracts Borrower shall not enter into, modify, amend, terminate or cancel any management contracts for the Project or agreements with agents or brokers, without the prior written approval of Lender.

  • Property Management Borrower will provide for professional management of the Mortgaged Property by the Property Manager at all times under a property management agreement approved by Lender in writing. Borrower will not surrender, terminate, cancel, modify, renew or extend its property management agreement, or enter into any other agreement relating to the management or operation of the Mortgaged Property with Property Manager or any other Person, or consent to the assignment by the Property Manager of its interest under such property management agreement, in each case without the consent of Lender, which consent will not be unreasonably withheld.

  • Property Manager Any entity that has been retained to perform and carry out property rental, leasing, operation and management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property.

  • Operating Contracts Subject to the rights of the Timeshare Owners’ Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resorts or the Collateral.

  • Service Contracts (a) The Trustees may, at any time and from time to time, contract for exclusive or nonexclusive advisory, management and/or administrative services for the Trust or for any Series with any Person; and any such contract may contain such other terms as the Trustees may determine, including without limitation, authority for the Investment Adviser to determine from time to time without prior consultation with the Trustees what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Trust shall be held uninvested and to make changes in the Trust's investments, and such other responsibilities as may specifically be delegated to such Person.

  • MANAGEMENT AGREEMENT AND FRANCHISE AGREEMENT At or prior to the Closing, Seller shall terminate the Existing Management Agreement and the Existing Franchise Agreement, and Seller shall be solely responsible for all claims and liabilities arising thereunder on, prior to or following the Closing Date. As a condition to Closing, Buyer shall enter into the New Management Agreement and the New Franchise Agreement, effective as of the Closing Date, containing terms and conditions acceptable to Buyer (including, without limitation, such terms and conditions as may be required to accommodate Buyer’s and/or Buyer’s Affiliates’ REIT structure). Seller shall be responsible for paying all costs related to the termination of the Existing Management Agreement. Buyer shall be responsible for paying all reasonable and actual costs of the Franchisor related to the assignment or termination, as applicable, of the Existing Franchise Agreement. Seller shall use best efforts to promptly provide all information required by the Franchisor in connection with the New Franchise Agreement, and Seller and Buyer shall diligently pursue obtaining the same. As a condition to Buyer’s and Seller’s obligation to close under this Contract, Buyer and Manager shall agree, on or before the expiration of the Review Period, on the form and substance of the New Management Agreement.

  • Brokerage Agreements Buyer has not entered (directly or indirectly) into any agreement with any Person for the payment of any commission, brokerage or “finder’s fee” in connection with the transactions contemplated by this Agreement for which Seller or any of Seller’s Affiliates would be liable.

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