Remedies of Manager. Upon the occurrence of an Event of Default by Owner described in Section 14.02, Manager may terminate this Agreement on thirty (30) days notice and Owner shall pay Manager the Termination Fee, within thirty (30) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity, as well as any accrued but unpaid fees owed to Manager pursuant to Section 5.01.
Appears in 2 contracts
Samples: Management Agreement (Five Star Quality Care Inc), Management Agreement (Senior Housing Properties Trust)
Remedies of Manager. Upon the occurrence of an Event of Default by Owner Licensee described in Section 14.02, Manager may terminate this Agreement on thirty (30) days notice and Owner Licensee shall pay Manager the Termination Fee, Fee within thirty (30) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity, as well as any accrued but unpaid fees owed to Manager pursuant to Section 5.01.
Appears in 2 contracts
Samples: Management Agreement (Five Star Quality Care Inc), Management Agreement (Senior Housing Properties Trust)
Remedies of Manager. Upon the occurrence of an Event of Default by Owner described in Section 14.02Company, Manager may terminate this Agreement on thirty (30) days days’ notice to Company and Owner Company shall pay Manager the Termination Fee, Fee within thirty (30) days of the effective date of termination, termination as liquidated damages and in lieu of any other remedy of Manager at law or in equity, as well as any accrued but unpaid fees owed to Manager pursuant to Section 5.01.
Appears in 1 contract
Samples: Transaction Agreement (Five Star Senior Living Inc.)