Common use of Remedies of Manager Clause in Contracts

Remedies of Manager. Upon the occurrence of an Event of Default by Owner as specified in Section 7.03 hereof, Manager, as its sole and exclusive remedy, shall be entitled to terminate this Agreement. Following such termination, Owner shall continue to be obligated to pay and perform all of its obligations which have accrued with respect to the Project as of the date of termination and Owner shall pay Manager or Manager may retain, within three Business Days following such termination, all amounts payable to Manager or earned by Manager (including Net Operating Income) under this Agreement up to the date of such termination.

Remedies of Manager. Upon the occurrence of an Event event of Default default by Owner as specified in Section 7.03 hereof, Manager, as its sole and exclusive remedy, Manager shall be entitled to terminate this Agreement. Following , and upon any such terminationtermination by Manager pursuant to this Section 7.04, Manager shall have the right to pursue any remedy it may have at law or in equity, except that Owner shall continue to be obligated to pay and perform all of its obligations which have accrued with respect to the Project as of the date of termination and Owner provided further that the Fee payable under Section 3.01 shall pay Manager or Manager may retain, within three Business Days following such termination, all amounts payable continue to Manager or earned by Manager (including Net Operating Income) under this Agreement up to be paid through the date of such termination.