Common use of Owner's Termination Rights Clause in Contracts

Owner's Termination Rights. (a) Provided Owner is not in default under this Agreement at the time of delivery of the Termination Notice (as defined herein) or on the Termination Date (as defined herein), Owner shall have the right, after the tenth anniversary of the Effective Date, to terminate this Agreement by giving written notice (a "Termination Notice") to Manager setting forth an effective termination date which shall be the last day of a month (the "Termination Date") and which shall be not less than six (6) months nor more than twelve (12) months after the date of such Termination Notice and shall in no event be prior to the tenth anniversary of the Effective Date. If Owner terminates this Agreement pursuant to this Section 9.04(a), in addition to payment of all other fees and reimbursable sums due to Manager on the Termination Date, Manager shall have the right to receive the Cancellation Termination Fee calculated in the manner set forth on Exhibit "B". Such termination shall be effective so long as on or before the Termination Date (x) Owner pays to Manager the Cancellation Termination Fee and all amounts determined by Owner and Manager, each acting reasonably and in good faith, to be due and owing to Manager pursuant to the terms and provisions of this Agreement and (y) all sums then outstanding under the Acquisition Loan shall have been paid in full.

Owner's Termination Rights. (a) Provided Owner is not in ----------------------------- default under this Agreement at the time of delivery of the Termination Notice (as defined herein) or on the Termination Date (as defined herein), and provided the Acquisition Loan has been paid in full, Owner shall have the right, after the tenth anniversary of the Effective Date, to terminate this Agreement by giving written notice (a "Termination Notice") to Manager setting forth an effective termination date which shall be the last day of a month (the "Termination Date") and which shall be not less than six (6) months nor more than twelve (12) months after the date of such Termination Notice and shall in no event be prior to the tenth anniversary of the Effective Date. If Owner terminates this Agreement pursuant to this Section 9.04(a), in addition to payment of all other fees and reimbursable sums due to Manager on the Termination Date, Manager shall have the right to receive the Cancellation Termination Fee calculated in the manner set forth on Exhibit "B". Such ----------- termination shall be effective so long as on or before the Termination Date (x) Owner pays to Manager the Cancellation Termination Fee and all amounts determined by Owner and Manager, each acting reasonably and in good faith, to be due and owing to Manager pursuant to the terms and provisions of this Agreement and (y) all sums then outstanding under the Acquisition Loan shall have been paid in full.

Owner's Termination Rights. (a) Provided Owner is not ---------------------------- in default under this Agreement at the time of delivery of the Termination Notice (as defined herein) or on the Termination Date (as defined herein), Owner shall have the right, after the tenth first anniversary of the Effective Date, to terminate this Agreement by giving written notice (a "Termination Notice") to Manager setting forth an effective termination date which shall be the last day of a month (the "Termination Date") and which shall be not less than six (6) months nor more than twelve (12) months after the date of such Termination Notice and shall in no event be prior to the tenth first anniversary of the Effective Date. If Owner terminates this Agreement pursuant to this Section 9.04(a), in addition to payment of all other fees and reimbursable sums due to Manager on the Termination Date, Manager shall have the right to receive the Cancellation Early Termination Fee calculated in the manner set forth on Exhibit "B". Such termination shall be effective so long as on or before the Termination Date (x) Owner pays to Manager the Cancellation Early Termination Fee and all amounts determined by Owner and Manager, each acting reasonably and in good faith, to be due and owing owning to Manager Manger pursuant to the terms and provisions of this Agreement and (y) all sums then outstanding under the Acquisition Loan shall have been paid in fullAgreement.

Owner's Termination Rights. (aSection 9.04(a) of the Management -------------------------- Agreement is hereby deleted in its entirety and replaced with the following: Provided Owner is not in default under this Agreement at the time of delivery of the Termination Notice (as defined herein) or on the Termination Date (as defined herein), Owner shall have the right, after the tenth first anniversary of the Effective Date, to terminate this Agreement by giving written notice (a "Termination Notice") to Manager setting forth an effective termination date which shall be the last day of a month (the "Termination Date") and which shall be not less than six (6) months nor more than twelve (12) months after the date of such Termination Notice and shall in no event be prior to the tenth first anniversary of the Effective Date. If Owner terminates this Agreement pursuant to this Section 9.04(a), in addition to payment of all other fees and reimbursable sums due to Manager on the Termination Date, Manager shall have the right to receive the Cancellation Early Termination Fee calculated in the manner set forth on Exhibit "B". B." Such termination shall be effective so long as on or before the Termination Date (x) Owner pays to Manager the Cancellation Early Termination Fee and all amounts determined by Owner and Manager, each acting reasonably and in good faith, to be due and owing to Manager pursuant to the terms and provisions of this Agreement and (y) all sums then outstanding under the Acquisition Loan shall have been paid in fullAgreement.

Owner's Termination Rights. (a) Provided Owner is not in ----------------------------- default under this Agreement at the time of delivery of the Termination Notice (as defined herein) or on the Termination Date (as defined herein), Owner shall have the right, after the tenth anniversary of the Effective Date, to terminate this Agreement by giving written notice (a "Termination Notice") to Manager setting forth an effective termination date which shall be the last day of a month (the "Termination Date") and which shall be not less than six (6) months nor more than twelve (12) months after the date of such Termination Notice and shall in no event be prior to the tenth anniversary of the Effective Date. If Owner terminates this Agreement pursuant to this Section 9.04(a), in addition to payment of all other fees and reimbursable sums due to Manager on the Termination Date, Manager shall have the right to receive the Cancellation Termination Fee calculated in the manner set forth on Exhibit "B". Such termination shall be effective so long as on or before the Termination Date (x) Owner pays to Manager the Cancellation Termination Fee and all amounts determined by Owner and Manager, each acting reasonably and in good faith, to be due and owing to Manager pursuant to the terms and provisions of this Agreement and (y) all sums then outstanding under the Acquisition Loan shall have been paid in fullAgreement.