Common use of MANAGER AND MANAGEMENT CHARGES Clause in Contracts

MANAGER AND MANAGEMENT CHARGES. 10. The parties hereto have agreed with the Manager for the Manager to undertake the management, operation, servicing, maintenance, repair, renovation, improvement, replacement, security and insurance of the Lot and the Estate and the Common Areas and Facilities (all or any of which activities where not inapplicable herein is/are included under the word “management”) from the date of this Deed for an initial term of two (2) years and such appointment shall continue until terminated by the Manager giving to the Owners’ Committee (or where there is no Owners’ Committee to each of the Owners and by displaying the same in a prominent place in the Estate) not less than three (3) months’ notice in writing to terminate the same in accordance with Clause 19 hereof or prior to the formation of the Owners’ Corporation, by the Owners’ Committee acting upon a resolution passed by the Owners at a meeting in accordance with Clause 61 hereof to terminate the Manager’s appointment without compensation at any time (whether during or after the initial term of two (2) years) upon giving to the Manager not less than three (3) months’ notice in writing in the manner as hereinafter provided or until the occurrence of the event that the Manager is being wound up or has a receiving order made against it or until terminated in accordance with Clause 20 hereof.

MANAGER AND MANAGEMENT CHARGES. 10. The parties hereto have agreed with the Manager for the Manager to undertake the management, operation, servicing, maintenance, repair, renovation, improvement, replacement, security and insurance of the Lot and the Estate and the Common Areas and Facilities (all or any of which activities where not inapplicable herein is/are included under the word “management”) from the date of this Deed for an initial term of two (2) years and such appointment shall continue until terminated by the Manager giving to the Owners’ Committee (or where there is no Owners’ Committee to each of the Owners and by displaying the same in a prominent place in the Estate) not less than three (3) calendar months’ notice in writing to terminate the same in accordance with Clause 19 hereof or prior to the formation of the Owners’ Corporation, by the Owners’ Committee acting upon a resolution passed by the Owners at a meeting in accordance with Clause 61 61(i) hereof to terminate the Manager’s appointment without compensation at any time (whether during or after the initial term of two (2) 2 years) upon giving to the Manager not less than three (3) months’ notice in writing in the manner as hereinafter provided or until the occurrence of the event that the Manager is being wound up or has a receiving order made against it or until terminated in accordance with Clause 20 hereofit.