Common use of Manager’s Subordination Clause in Contracts

Manager’s Subordination. Owner shall cause 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 wholly owned, 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. Owner 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 wholly owned, 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. Owner 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 wholly ownedowned at least ninety percent (90%), 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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