Termination of Management Agreements. The Parties will cause each of the Management Agreements to be terminated effective as of the Distribution Date.
Termination of Management Agreements. At the Effective Time, HCRE shall, and shall cause its wholly-owned subsidiary, HCRE California, Inc. to, terminate each of the Management Agreements and release the Partnership and each of its subsidiaries from all liability thereunder. Notwithstanding the foregoing, the Partnership shall remain obligated to pay to HCRE or HCRE California, Inc., as appropriate, all amounts due under the Management Agreements for fees earned thereunder in the ordinary course of business to the extent accrued prior to the Determination Date or which relate to services performed between the Determination Date and the Effective Time.
Termination of Management Agreements. Effective as of or prior to the Closing, Seller shall terminate each of the Management Agreements, at Seller’s sole cost and expense.
Termination of Management Agreements. The Company shall, at the Attractions Purchaser’s sole cost and expense, take such actions as are reasonably required to cause each Management Agreement set forth in Section 8.13 of the Seller Disclosure Letter (the “Old Management Agreements”) to be terminated in its entirety in accordance with the applicable Management Agreement, effective as of no later than December 1, 2016, and the Company shall enter into new Management Agreements with Premier Parks, LLC or its Affiliate, in a form acceptable to the Company, upon the termination of the Old Management Agreements. To the extent that a termination of an Old Management Agreement results in a termination fee payable under such Old Management Agreement that would not have been payable if such Old Management Agreement were not terminated pursuant to this Section 8.13, the Attractions Purchaser shall reimburse the Seller Parties for any such termination fee. The Attractions Purchaser shall pay (or reimburse, as applicable) the Company for any and all Third Party fees (including administration fees), costs and Expenses incurred in connection with the transition and implementation of the new Management Agreements with Premier Parks, LLC or its Affiliates.
Termination of Management Agreements. The new management agreements for the Retained Hotels will contain provisions allowing the owners of the Retained Hotels to terminate the management agreements after 5 years, without charge or penalty, upon the sale of the Retained Hotels; provided that the purchaser of such Retained Hotels shall have entered into Hyatt’s standard franchise agreement, on such terms and conditions to be reasonably agreed upon by Hyatt and the purchaser of such Retained Hotel.
Termination of Management Agreements. On or prior to the Closing Date, Target shall terminate, without any cost, expense or liability to Target, the Company or Newco, any and all management agreements relating to any or all of the Target Properties, including, without limitation, those management agreements listed in the Target Disclosure Letter.
Termination of Management Agreements. Prior to the Effective Time, Target shall terminate those property management agreements listed in Section 7.12 of the Target Disclosure Letter.
Termination of Management Agreements. (1) Each Management Agreement shall be terminable as provided under its terms and conditions by the Company or Bluerock or, as long as the Property Manager is CMG, by Property Manager.
(2) Notwithstanding anything to the contrary in this Section 9.7(c), no termination of a Management Agreement or buyout of the other party’s Interest in the Company shall be permitted unless permitted or approved under any applicable Collateral Agreement or under the Loan Documents.
Termination of Management Agreements. On and from the Effective Time, the Parties agree that each of the agreements set forth on Schedule E shall be terminated with immediate effect and without the need for any Party to take any further action.
Termination of Management Agreements. Prior to the Closing, IRT shall provide evidence to the reasonable satisfaction of the Company that the following two agreements were properly terminated: (i) the Property Management Agreement dated September 1, 2000 between Auburn Center Associates, Ltd. and IRT, and (ii) the Property Management Agreement dated September 1, 2000 between Stanford Station Partners, LP and IRT.
