Common use of Termination of Asset Management Agreement Clause in Contracts

Termination of Asset Management Agreement. Notwithstanding anything to the contrary contained herein, unless the holder of the mortgage on the Property otherwise determines to keep this Management Agreement in effect, this Management Agreement shall automatically terminate upon Manager receiving written notification from RREM or Owner that Owner has terminated the Asset Management Agreement. Upon such termination, the parties hereto shall have no further obligation to the other, unless otherwise specifically set forth herein.