Common use of Matters Concerning Manager Clause in Contracts

Matters Concerning Manager. If (a) an Event of Default occurs and is continuing, (b) Manager shall become subject to a Bankruptcy Action, or (c) a default occurs under the Management Agreement, then, in the case of any of the foregoing, Borrower shall, at the request of Lender, terminate the Management Agreement and replace the Manager with a Qualified Manager (other than Existing Manager or any Person that is under common Control with Existing Manager or Guarantor) pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such Qualified Manager shall not exceed then-prevailing market rates.

Matters Concerning Manager. If (a) an Event of Default occurs has occurred and is continuingcontinuing (including, without limitation, the taking of any action described in Section 9.1(vii) hereof), (b) Manager shall become subject to a Bankruptcy Action, or (c) a default occurs under the Management Agreement, then, in or (d) the case occurrence of any of the foregoinga DSCR Trigger Event, Borrower shall, at the request of Lender, terminate the Management Agreement and replace the Manager with a Qualified Manager (other than Existing Manager or any Person that is under common Control with Existing Manager or Guarantor) pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such Qualified Manager shall not exceed then-then prevailing market rates.

Matters Concerning Manager. If (a) an Event of Default occurs and is continuing, (b) Manager shall become subject to a Bankruptcy Action, or (c) a default occurs under the Management Agreement, then, in the case of any of the foregoing, Borrower shall, at the request of Lender, cause Mortgage Borrower to terminate the Management Agreement and replace the Manager with a Qualified Manager (other than Existing Manager or any Person that is under common Control with Existing Manager or Guarantor) pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such Qualified Manager shall not exceed then-prevailing market rates.

Matters Concerning Manager. If (a) an Event of Default occurs and is continuing, (b) at the Maturity Date, the Debt is not repaid in full, (c) the Manager shall become subject to a Bankruptcy Action, bankrupt or insolvent or (cd) a material default occurs under the Management Agreement, then, in the case of Agreement beyond any of the foregoingapplicable grace and cure periods, Borrower shall, at the request of Lender, cause Mortgage Borrower to terminate the Management Agreement and replace the Manager with a Qualified Manager (other than Existing Manager or any Person that is under common Control with Existing Manager or Guarantor) pursuant manager approved by Lender on terms and conditions satisfactory to a Replacement Management AgreementLender, it being understood and agreed that the management fee for such Qualified Manager replacement manager shall not exceed then-then prevailing market rates.

Matters Concerning Manager. If (ai) a Debt Yield Trigger Event occurs, (ii) an Event of Default occurs and is continuing, (biii) at the Maturity Date, the Debt is not repaid in full, (iv) the Manager shall become subject to a Bankruptcy Action, Material Proceeding or (cv) a material default occurs under the Management Agreement, then, in the case of Agreement beyond any of the foregoingapplicable grace and cure periods, Borrower shall, at the request of Lender, terminate the Management Agreement and replace the Manager with a Qualified Manager (other than Existing Manager or any Person that is under common Control with Existing Manager or Guarantor) pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such Qualified Manager shall not exceed then-then prevailing market rates.