Common use of Payment of Severance Allowance Clause in Contracts

Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager (i) in a lump sum within sixty (60) days after the date of any termination of the Manager covered by Section 3(a), or (ii) in the case of a termination described in Section 3(b), in a lump sum within sixty (60) days after the date of the Change in Control giving rise to such Covered Termination.