Common use of Manager's Termination Right Upon the Termination of License Agreement Clause in Contracts

Manager's Termination Right Upon the Termination of License Agreement. If the License Agreement is terminated for any reason, Manager may terminate this Agreement immediately upon serving notice to Owner, without liability on the part of Manager. Upon such termination, unless specifically provided otherwise herein, Manager shall be entitled to receive the Sale Termination Fee calculated in the manner set forth on Exhibit "B". Notwithstanding anything contained herein, Manager shall not be entitled to receive the Sale Termination Fee if the License Agreement is terminated because of Manager's failure to perform its obligations hereunder and Manager's failure was not caused by the failure of Owner to perform its obligations hereunder.

Appears in 11 contracts

Samples: Management Agreement (Apple Suites Inc), Management Agreement (Apple Suites Inc), Management Agreement (Apple Suites Inc)

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