Common use of Termination by Manager Clause in Contracts

Termination by Manager. Subject to the further provisions of this Section, Manager may terminate this Agreement at any time upon ten (10) days notice to Owner in the event that Owner breaches or defaults in the performance of any material covenant or obligation of owner hereunder. Such termination shall not prejudice any other rights or remedies available to Manager as a result of such breach or default. At any time that Manager determines that there has been a breach or default in the performance by Owner of any material covenant or obligation of Owner hereunder, Manager shall give owner a Termination Notice, specifying in reasonable detail the breach or default and giving Manager at least thirty (30) days to cure such breach or default. If Owner has not cured the breach or default within the time allowed in the Termination Notice, the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice. If Owner cures the breach or default within the time allowed in Termination Notice, the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given. However, if a longer period is actually necessary in order to cure the breach or default, the effectiveness of the Termination Notice shall be suspended beyond such time until the earlier of (A) the cure of the breach or default, in which case the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given or (B) Owner discontinuing diligently pursuing a cure for the breach or default in which case the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice.

Termination by Manager. Subject to the further provisions of this Section, Manager may terminate this Agreement at any time upon ten (10) days notice to Owner owner in the event that Owner breaches or defaults in the performance of any material covenant or obligation of owner Owner hereunder. Such termination shall not prejudice any other rights or remedies available to Manager as a result of such breach or default. At any time that Manager determines that there has been a breach or default in the performance by Owner owner of any material covenant or obligation of Owner hereunder, Manager shall give owner a Termination Notice, specifying in reasonable detail the breach or default and giving Manager at least thirty (30) days to cure such breach or default. If Owner has not cured the breach or default within the time allowed in the Termination Notice, the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice. If Owner owner cures the breach or default within the time allowed in Termination Notice, the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given. However, if a longer period is actually necessary in order to cure the breach or default, the effectiveness of the Termination Notice shall be suspended beyond such time until the earlier of (A) the cure of the breach or default, in which case the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given or (B) Owner discontinuing diligently pursuing a cure for the breach or default in which case the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice.

Termination by Manager. Subject to the further provisions of this Section, Manager may terminate this Agreement at any time upon ten (10) days notice to Owner in the event that Owner breaches or defaults in the performance of any material covenant or obligation of owner Owner hereunder. Such termination shall not prejudice any other rights or remedies available to Manager as a result of such breach or default. At any time that Manager determines that there has has, been a breach or default in the performance by Owner of any material covenant or obligation of Owner hereunder, Manager shall give owner Owner a Termination Notice, specifying in reasonable detail the breach or default and giving Manager at least thirty (30) days to cure such breach or default. If Owner has not cured the breach or default within the time allowed in the Termination Notice, the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice. If Owner cures the breach or default within the time allowed in Termination Notice, the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given. However, if a longer period is actually necessary in order to cure the breach or default, the effectiveness of the Termination Notice shall be suspended beyond such time until the earlier of (A) the cure of the breach or default, in which case the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given or (B) Owner discontinuing diligently pursuing a cure for the breach or default in which case the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice.

Termination by Manager. Subject to the further provisions of this Section, Manager may terminate this Agreement at any time upon ten (10) days notice to Owner in the event that Owner breaches or defaults in the performance of any material covenant or obligation of owner Owner hereunder. Such termination shall not prejudice any other rights or remedies available to Manager as a result of such breach or default. At any time that Manager determines that there has been a breach or default in the performance by Owner of any material covenant or obligation of Owner hereunder, Manager shall give owner Owner a Termination Notice, specifying in reasonable detail the breach or default and giving Manager manager at least thirty (30) days to cure such breach or default. If Owner has not cured the breach or default within the time allowed in the Termination Notice, the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice. If Owner cures the breach or default within the time allowed in Termination Notice, the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given. However, if a longer period is actually necessary in order to cure the breach or default, the effectiveness of the Termination Notice shall be suspended beyond such time until the earlier of (A) the cure of the breach or default, in which case the Termination Notice shall be ineffective and the term of this Agreement shall continue as though the Termination Notice had not been given or (B) Owner discontinuing diligently pursuing a cure for the breach or default in which case the Termination Notice shall be effective and the Agreement shall terminate in accordance with the provisions of such notice.