Common use of Remedies of Manager Clause in Contracts

Remedies of Manager. Upon an Owner's Event of Default, Manager shall be entitled to (i) terminate in writing this Agreement effective as of the date designated by Manager which is at least ten (10) days after receipt of such notice of termination by Owner provided the Owner's Event of Default has not then been cured or such cure commenced, and/or (ii) pursue an action for the actual compensatory damages incurred by Manager. Manager expressly agrees that termination and compensatory monetary damages are its sole rights and remedies with respect to an Owner's Event of Default and Manager expressly waives and releases the right to seek equitable relief, including specific performance or injunctive relief, and to sxx for any consequential or punitive damages.

Appears in 4 contracts

Samples: Property Management Agreement (Bluerock Residential Growth REIT, Inc.), Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.)

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Remedies of Manager. Upon an Owner's Event of Default, Manager shall be entitled to (i) terminate in writing this Agreement effective as of the date designated by Manager which is at least ten (10) days after receipt of such notice of termination by Owner provided the Owner's ’s Event of Default has not then been cured or such cure commenced, and/or (ii) pursue an action for the actual compensatory damages incurred by Manager. Manager expressly agrees that termination and compensatory monetary damages are its sole rights and remedies with respect to an Owner's Event of Default and Manager expressly waives and releases the right to seek equitable relief, including specific performance or injunctive relief, and to sxx for any consequential or punitive damages.

Appears in 3 contracts

Samples: Property Management Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.)

Remedies of Manager. Upon an Owner's Event of Default, Manager shall be entitled to (i) terminate in writing this Agreement effective as of the date designated by Manager which is at least ten (10) days after receipt of such notice of termination by Owner provided the Owner's ’s Event of Default has not then been cured or such cure commenced, and/or (ii) pursue an action for the actual compensatory damages incurred by Manager. Manager expressly agrees that termination and compensatory monetary damages are its sole rights and remedies with respect to an Owner's Event of Default and Manager expressly waives and releases the right to seek equitable relief, including specific performance or injunctive relief, and to sxx for sux xor any consequential or punitive damages.

Appears in 1 contract

Samples: Property Management Agreement (Bluerock Residential Growth REIT, Inc.)

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Remedies of Manager. Upon the occurrence of an Owner's Event of DefaultDefault or upon a termination of this Agreement by Owner without cause pursuant to Section 8.04 hereof, Manager shall be entitled to (i) to terminate in writing this Agreement effective as of the date designated by Manager Owner which is at least ten (10) 10 days after receipt of such notice of termination by Owner provided the Owner's Event of Default has not then been cured or such cure commenced, and/or (ii) to pursue an action for the actual compensatory damages incurred by Manager. Manager expressly agrees that termination and compensatory monetary damages are its sole rights and remedies with respect to an Owner's Event of Default and Manager Owner expressly waives and releases the right to seek equitable relief, including specific performance or injunctive relief, and to sxx xxx for any consequential or punitive damages.

Appears in 1 contract

Samples: Operating Agreement (Wellsford Real Properties Inc)

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