Common use of Prohibition Against Termination or Modification Clause in Contracts

Prohibition Against Termination or Modification. At any time that a Management Agreement is in place, neither Borrower nor Operating Company, as applicable, shall surrender, terminate, cancel, modify, renew or extend the Management Agreement or enter into any other agreement relating to the management or operation of the Property with Manager or any other Person, or consent to the assignment by the Manager of its interest under the Management Agreement, in each case without the express consent of Agent, which consent shall not be unreasonably withheld; provided, however, with respect to a new manager such consent may be conditioned upon such new manager and Borrower executing an assignment of management agreement and subordination of management fees in the form then used by Agent.

Prohibition Against Termination or Modification. At any time that a Management Agreement is in place, neither Borrower nor Operating Company, as applicable, shall not surrender, terminate, cancel, modify, renew or extend the Management Agreement Agreement, if one exists, or enter into any other agreement relating to the management or operation of the Property with Manager or any other Person, including, without limitation, any brokerage, listing or leasing agreement, or consent to the assignment by the Manager of its interest under the any Management Agreement, in each case without the express consent of Agent, which consent shall not be unreasonably withheld; provided, however, with respect to a new manager such consent may be conditioned upon such new manager and Borrower executing an assignment of management agreement and subordination of management fees in the form then used by Agent.