Common use of Matters Concerning Manager Clause in Contracts

Matters Concerning Manager. If (i) the Manager shall become bankrupt or insolvent, or (ii) a material default by Manager of its material obligations occurs under the Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, terminate the Management Agreement and replace the Manager with a Qualified Manager pursuant to a Replacement Management Agreement.

Matters Concerning Manager. If (ia) the an Event of Default occurs and is continuing, (b) Manager shall become bankrupt or insolvent, insolvent or (iic) a material default by Manager of its material obligations occurs under the Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, terminate the Management Agreement and replace the Manager with a Qualified Manager 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 replacement manager shall not exceed then prevailing market rates.

Matters Concerning Manager. If (ia) the Manager shall become bankrupt or insolvent, or (iib) a material default by Manager of its material obligations occurs under the Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, cause Mortgage Borrower to cause Operating Lessee to terminate the Management Agreement and replace the Manager with a Qualified Manager pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.

Matters Concerning Manager. If (i) the any Manager shall become bankrupt or insolvent, insolvent or (ii) a material default by Manager of its material obligations occurs under the any Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, terminate terminate, or cause IDOT Guarantor to terminate, the applicable Management Agreement and replace the applicable Manager with a Qualified Manager pursuant to under a Replacement Management Agreement, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.

Matters Concerning Manager. If (ia) the Manager shall become bankrupt or insolvent, or (iib) a material default by Manager of its material obligations occurs under the Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, terminate the Management Agreement and replace the Manager with a Qualified Manager pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.

Matters Concerning Manager. If (ia) the Manager shall become bankrupt or insolvent, insolvent or (iib) a material default by Manager of its material obligations occurs under the Management Agreement beyond any applicable grace and cure periods, Borrower shall, at the request of Lender and after Lender’s reasonable consultation with Borrower, terminate the Management Agreement and replace the Manager with a Qualified Manager pursuant to a Replacement Management Agreement, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.