Common use of No Termination of Management Agreement Clause in Contracts

No Termination of Management Agreement. Manager shall not terminate the Management Agreement without first obtaining Lender's written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Manager shall have the right to terminate the Management Agreement upon default by Borrower with respect to non-payment of the management fee due thereunder by giving Lender thirty (30) days' prior written notice of such termination. In the event Lender shall cure such non-payment default in the aforesaid thirty (30)-day period, then any such termination notice shall be of no further force or effect.

Appears in 3 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

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No Termination of Management Agreement. Manager shall not -------------------------------------- terminate the Management Agreement without first obtaining Lender's written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Manager shall have the right to terminate the Management Agreement upon of default by Borrower with respect to non-non- payment of the management fee due thereunder by giving Lender thirty (30) days' days prior written notice of such termination. In the event Lender shall cure such non-payment default in the aforesaid thirty (30)-day 30) day period, then any such termination notice shall be of no further force or effect.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

No Termination of Management Agreement. Manager shall not terminate the Management Agreement without first obtaining Lender's prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Manager shall have the right to terminate the Management Agreement upon for default by Borrower beyond applicable grace and cure periods with respect to non-payment of the management fee due thereunder by giving Lender thirty ten (3010) days' prior written notice of such termination. In the event Lender shall cure such non-payment default in the aforesaid thirty ten (30)-day 10) day period, then any such termination notice shall be deemed to void and of no further force or effect.

Appears in 1 contract

Samples: Manager's Consent and Subordination of Management Agreement (Alexanders Inc)

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No Termination of Management Agreement. Manager shall not terminate the Management Agreement without first obtaining Lender's written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Manager shall have the right to terminate the Management Agreement upon for default by Borrower with respect to non-non- payment of the management fee due thereunder or any costs of operating the Property in accordance with the Management Agreement by giving Lender thirty sixty (3060) days' prior written notice of such termination. In the event Lender (or Borrower) shall cure such non-payment default in the aforesaid thirty sixty (30)-day 60) day period, then any such termination notice related to such cause shall be of no further force or effect.

Appears in 1 contract

Samples: Loan Agreement (Winston Hotels Inc)

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