Termination by Property Manager. 15.2.1 The Property Manager shall have the right to terminate this Agreement “for cause”, provided that (i) the Company is in default in the performance of any of their obligations hereunder, and such default remains uncured for thirty (30) days following the Property Manager’s giving of written notice of such default to the Company, in which event termination shall be effective immediately upon written notice to Company, or (ii) any governmental law, regulation, or ruling requires the Property Manager to so terminate this Agreement, in which event termination shall be effective in accordance with such governmental law, regulation, or ruling.
15.2.2 In addition to the termination rights in Section 15.2.1 above, Property Manager shall have the right to terminate this Agreement for any reason or no reason upon sixty (60) days written notice to Company at any time after the end of the first year of the term of this Agreement.
15.2.3 In the event that an affiliate of Property Manager no longer serves as an outside advisor to the parent of the Company, TNP Strategic Retail Trust, under the terms of an executed Advisory Agreement, as the same may be amended and extended (the “Advisory Agreement), the Property Manager shall have a one-time right, exercisable within sixty (60) days of the termination of the Advisory Agreement, to terminate this Agreement on thirty (30) days written notice to the Company.
Termination by Property Manager. This Agreement may be terminated by Property Manager, without cause, upon sixty (60) days' written notice to Owner. This Agreement may be terminated by Property Manager for cause if Owner commits any material default in the performance of any of its obligations under this Agreement, including, without limitation, its obligation to pay to Property Manager any fees due and payable under Section 3.01 above, and such default shall continue for a period of thirty (30) days after notice thereof by Property Manager to Owner for non-monetary default or ten (10) days after notice for monetary default.
Termination by Property Manager. 15.2.1 The Property Manager shall have the right to terminate this Agreement for any reason or no reason upon thirty (30) days written notice to the Company. In addition, the Property Manager shall have the right to terminate this Agreement “for cause”, provided that (i) the Company is in default in the performance of any of their obligations hereunder, and such default remains uncured for thirty (30) days following the Property Manager’s giving of written notice of such default to the Company or (ii) any governmental law, regulation, or ruling requires the Property Manager to so terminate this Agreement.
15.2.2 Property Manager shall have the right to terminate this Agreement for any reason upon sixty (60) days written notice to Company.
Termination by Property Manager. Property Manager shall have the right to terminate this Agreement, provided that the Tenants in Common are in default in the performance of any of its obligations hereunder, and such default remains uncured for thirty (30) days following Property Manager's giving of written notice of such default to the Tenants in Common.
Termination by Property Manager. Property Manager, at its option, may terminate this Agreement for the failure of Owner to comply with any term or condition of this Agreement and such failure continues for a period of thirty (30) days after written notice thereof by Owner to Property Manager, provided that if such default is not reasonably susceptible of cure within thirty (30) days, then such reasonable time so long as Owner is diligently prosecuting the cure of the default, but in no event longer than ninety (90) days.
Termination by Property Manager. Property Manager reserves the right to terminate this agreement with 30 days written notice to Owner at any time, or, immediately with written or verbal notice if in the opinion of Property Manager’s legal counsel, Owner’s actions or inactions violate the terms of this management agreement or are illegal, improper, jeopardize the safety or welfare of any Tenant(s) or other persons, interfere with this management agreement, code violations occur on the property, a foreclosure action is filed against the Owner or Owner is delinquent in the payment of any taxes, fees, assessment, fees, bills, fines or any other financial obligations related to the premises or the Property Manager. Property Manager may at its option continue to hold Owner liable for any fees due or monies owed Property Manager if the Tenant(s) remain in the property after such termination by Property Manager. If termination occurs, Owner shall immediately hire a Property Manager or provide property Manager with a Florida bank account for Property Manager to transfer any deposits held on behalf of the Tenant(s).
Termination by Property Manager. Property Manager may terminate this Agreement upon Owner’s failure to comply with the terms and conditions of this Agreement. Property Manager shall notify Owner of the alleged failure in writing, including a thirty (30) day notice of Property Manager’s intent to terminate if Owner’s failure to comply is not rectified. After thirty (30) days from the date of the written notice, Property Manager is entitled to terminate this Agreement, which shall not be a breach of contract, and Buyer has no legal or equitable remedies for such termination.
Termination by Property Manager. 15.2.1 The Property Manager shall have the right to terminate this Agreement “for cause”, provided that (i) the Company is in default in the performance of any of their obligations hereunder, and such default remains uncured for thirty (30) days following the Property Manager’s giving of written notice of such default to the Company, in which event termination shall be effective immediately upon written notice to Company, or (ii) any governmental law, regulation, or ruling requires the Property Manager to so terminate this Agreement, in which event termination shall be effective in accordance with such governmental law, regulation, or ruling.
15.2.2 In addition to the termination rights in Section 15.2.1 above, Property Manager shall have the right to terminate this Agreement for any reason or no reason upon sixty (60) days written notice to Company at any time after the end of the first year of the term of this Agreement. In the event that an affiliate of Property Manager no longer serves as an outside advisor to the parent of the Company, TNP Strategic Retail Trust, under the terms of an executed Advisory Agreement, as the same may be amended and extended (the “Advisory Agreement), the Property Manager shall have a one-time right, exercisable within sixty (60) days of the termination of the Advisory Agreement, to terminate this Agreement on thirty (30) days written notice to the Company.
15.2.3 In the event that an affiliate of Property Manager no longer serves as an outside advisor to the parent of the Company, TNP Strategic Retail Trust, under the terms of an executed Advisory Agreement, as the same may be amended and extended (the “Advisory Agreement), the Property Manager shall have a one-time right, exercisable within sixty (60) days of the termination of the Advisory Agreement, to terminate this Agreement on thirty (30) days written notice to the Company.
Termination by Property Manager. If Owner fails to perform any of its material obligations under this Agreement, and such failure continues for sixty (60) days after written notice thereof have been given to Owner by Property Manager, Property Manager shall have the right to terminate this Agreement upon delivery of 30 days advance written notice; provided, however, that if the breach is of a nature which cannot be reasonably corrected, cured or remedied within such 30 day period, no default shall be deemed to have occurred (and Property Manager shall have no right to terminate this Agreement) if Owner commences cure within such 30 day period and thereafter diligently pursues such cure to completion. In addition to the foregoing, this Agreement may be terminated by Property Manager without cause at any time upon thirty (30) days’ prior written notice to Owner at any time after this Agreement shall have become a month-to-month agreement pursuant to Section 2.1.
Termination by Property Manager. Property Manager may terminate this Agreement upon the occurrence of a default by Owner hereunder; provided, however, in the event of such default, Property Manager first shall notify Owner in writing of the exact nature of the default and Property Manager’s intention to terminate this Agreement as a result of the default. Owner shall have thirty (30) days from receipt of such notice to cure the default, or such longer period as may be reasonably necessary to affect a cure, provided Owner commences to cure such default within thirty (30) days and thereafter diligently prosecutes the cure to completion.
