Remedies of Manager. Upon the occurrence of an event of default by Owner as specified in Section 7.03 hereof, Manager shall be entitled to terminate this Agreement, and upon any such termination 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 as of the date of termination and provided further that the Fee payable under Section 3.01 shall continue to be paid through the date of termination.
Appears in 2 contracts
Samples: Management Agreement (Lexford Residential Trust /Md/), Management Agreement (Lexreit Properties Inc)
Remedies of Manager. Upon the occurrence of an event Event of default Default by Owner as specified in Section 7.03 hereof, Manager Manager, as its sole and exclusive remedy, shall be entitled to terminate this Agreement. Following such termination, and upon any such termination 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 provided further that the Fee 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 Section 3.01 shall continue this Agreement up to be paid through the date of such termination.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (United Dominion Realty Trust Inc), Agreement of Purchase and Sale (Essex Property Trust Inc)
Remedies of Manager. Upon the occurrence of an event of default by Owner as specified in Section 7.03 hereof, Manager shall be entitled to terminate this Agreement, and upon any such termination by Manager pursuant to this Section 7.04, Manager shall have the right to pursue any remedy it may have at law or in equityequity (provided that in no event shall Owner ever be liable to Manager for, except that Owner shall continue and Manager hereby waives all rights to be obligated to pay and perform all of its obligations which have accrued as of the date of termination and provided further that the Fee payable under Section 3.01 shall continue to be paid through the date of terminationreceive, punitive, consequential or exemplary damages).,
Appears in 1 contract
Samples: Property Management Agreement (Bluerock Residential Growth REIT, Inc.)
