Management of Projects. All Wholly-Owned Projects shall be managed by Subsidiaries of MAC pursuant to Master Management Agreements or, with respect to Wholly-Owned Projects of Westcor, pursuant to agreements in place on the date hereof.
Management of Projects. Except as set forth on Schedule 7.15, all Wholly-Owned Projects shall be managed by Subsidiaries of MAC pursuant to Master Management Agreements or, with respect to Wholly-Owned Projects of Westcor or Wilmorite, pursuant to agreements in place on the date hereof; provided that the Rochester Properties may be managed by the Rochester Manager pursuant to the Rochester Management Agreement.
Management of Projects. (a) Borrower shall manage the Projects or cause the Projects to be managed in accordance with the Approved Manager Standard.
(b) Borrower covenants and agrees with Lender that (i) each Project will be managed by Manager pursuant to the management agreements in effect, as of the Original Date, which agreements were approved by Lender (collectively, the “Initial Management Agreement”), until such time as the Initial Management Agreement is replaced, as more particularly described in subsection (c) below, (ii) after Borrower has knowledge of a fifty percent (50%) or more change in the ultimate beneficial control of the ownership of Manager, Borrower will promptly give Lender notice thereof (a “Manager Control Notice”) and (iii) the Management Agreement may be terminated by Lender at any time (A) for cause (including, but not limited to, Manager’s gross negligence, misappropriation of funds, willful misconduct or fraud), or (B) during the existence of an Event of Default, or (C) following the receipt of a Manager Control Notice, or (D) that the Manager has defaulted in its obligations beyond any applicable notice and cure period as set forth in the Management Agreement, or (E) after the Manager takes an action or becomes the subject of an action taken as to it that is described in Section 13.01(h) or (i) hereof, but without giving effect to the qualifying proviso in Section 13.01(i), and a substitute managing agent satisfying the Approved Manager Standard shall be appointed by Borrower. Borrower may from time to time appoint a successor manager to manage the Projects, provided that any such successor manager shall be a reputable management company which meets the Approved Manager Standard or is an Affiliate of Borrower. Borrower further covenants and agrees that Borrower shall require Manager (or any successor managers) to maintain at all times during the term of the Loan worker’s compensation insurance as required by Governmental Authorities. Borrower represents and warrants that the Initial Management Agreement, which is the Approved Management Agreement, has not been amended or modified since the Original Date, and remains in full force and effect.
Management of Projects. As between the Authority and the Agency, the responsibility for operating, managing, and maintaining the Project will be the sole responsibility of the Agency; provided that the use or management of the Project may need to be approved by the Authority in order to ensure compliance with requirements to maintain the tax-exempt status of bonds as set out in the Financing Agreeement.
Management of Projects. To the maximum extent that the Borrower and/or any Subsidiary of the Borrower has the right, power or authority (whether as a matter of contract, at law or otherwise) to do so, the Borrower shall, and shall cause each of its Subsidiaries to, maintain managers and management contracts with respect to each Project which are reasonably satisfactory to the Administrative Lender; provided, however, that the Borower and each Subsidiary of the Borrower shall be deemed to be reasonably satisfactory to the Administrative Lender as managers of the Projects for purposes of this Section 5.
Management of Projects. Until requested otherwise by the Administrative Agent, the Borrower shall, and shall cause its Subsidiaries to, continue to manage in accordance with prudent utility practices, the construction of the Projects (in cooperation with NEG) and to operate the Millennium Project and any other Project after its completion (on mutually agreeable terms and conditions).
Management of Projects. Except for the Projects set forth on Schedule 3.29 (which are currently managed by † Management Company, Inc.), all of the Projects are managed by † Management Company.
Management of Projects. To the maximum extent that the ---------------------- Borrower and/or any Subsidiary of the Borrower has the right, power or authority (whether as a matter of contract, at law or otherwise) to do so, the Borrower shall, and shall cause each of its Subsidiaries to, maintain managers and management contracts with respect to each Project which are reasonably satisfactory to the Administrative Lender. The Borrower shall not change the manager of any Project or materially amend, modify or waive any provision of or terminate the management contract for any Project without the prior written consent of the Administrative Lender.
Management of Projects. 2.01 As soon as practicable following execution and delivery of this Agreement, the Parties shall agree on a preliminary list of possible Projects, and associated fees payable by Lucent to BBT for such Projects, which the Parties shall consider under this Agreement for performance under a suitable Project Letter. The Parties recognize that the list of potential Projects on such list is subject to additions and deletions, by mutual agreement, and shall not bind either Party until an appropriate Project Letter for any given Project is executed by both Parties. Except as agreed by BBT, the Projects that are selected by the Parties shall all relate to the development of ********************* or *******************.
Management of Projects. Managing Member will be ---------------------- responsible for the daily management and operation of each Project, including implementation of any development or capital improvement activity approved by the Company prior to acquisition of such Project and as otherwise set forth in the Budgets and Business Plans. It is contemplated that the Projects shall consist of Target Assets acquired by the Company which are, in turn, either owned or operated by third party health care operators on an absolute net basis to the Company. In the ordinary course of business, such third party operators shall be responsible for all aspects of the actual operation of the Projects and Managing Member's management obligations shall consist of collecting regular periodic payments of rent or interest and verifying compliance by such third party operators under the applicable Project operating documentation. In the event of a material default by any such third party operators, the provisions of Section 6.5 shall apply. -----------
