Common use of Manager’s Subordination Clause in Contracts

Manager’s Subordination. Each Borrower shall cause its Manager to enter into a Manager Consent and Subordination of Management Agreement (the "Manager Consent and Subordination Agreement") in the form of Exhibit C-1 hereto; provided, however, that if such Manager is owned at least ninety percent (90%), directly or indirectly, by Westfield Holdings Limited, such Manager may enter into a Manager Consent and Subordination of Management Agreement in the form of Exhibit C-2 hereto.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

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Manager’s Subordination. Each Borrower shall cause its Manager to enter into a Manager Consent and Subordination of Management Agreement (the "Manager Consent and Subordination Agreement") in the form of Exhibit C-1 hereto; provided, however, that if such Manager is owned at least ninety percent (90%)wholly owned, directly or indirectly, indirectly by Westfield Holdings Limited, such Manager may enter into a Manager Consent and Subordination of Management Agreement in the form of Exhibit C-2 hereto.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

Manager’s Subordination. Each Borrower shall cause its Manager ----------------------- to enter into a Manager Consent and Subordination of Management Agreement (the "Manager Consent and Subordination Agreement") in the form of Exhibit C-1 B-2 hereto; provided, however, that if such Manager is owned at least ninety percent (90%)wholly owned, ----------- directly or indirectly, indirectly by Westfield Holdings Limited, such Manager may enter into a Manager Consent and Subordination of Management Agreement in the form of Exhibit C-2 B-1 hereto.. -----------

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

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Manager’s Subordination. Each Borrower Owner shall cause its Manager to enter into a Manager Consent and Subordination of Management Agreement (the "Manager Consent and Subordination Agreement") in the form of Exhibit C-1 hereto; provided, however, that if such Manager is owned at least ninety percent (90%)wholly owned, directly or indirectly, indirectly by Westfield Holdings Limited, such Manager may enter into a Manager Consent and Subordination of Management Agreement in the form of Exhibit C-2 hereto.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

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