Termination of Property Management Agreement. (a) At the Closing (hereinafter defined), Manager, on the one hand, and the Joint Venture and the L'Auberge Venturer, on the other hand, shall enter into a Termination Agreement in the form attached hereto as Exhibit A and incorporated herein by this reference, and the Joint Venture shall pay to Manager accrued compensation in accordance with the provisions of the Termination Agreement.
(b) Prior to the Closing, Manager shall continue to manage the Project in the same manner and with the same quality as the Project has been managed prior to the execution hereof (and in any event in compliance with the terms and conditions of the Property Management Agreement) and shall be entitled to receive a Property Management Fee in accordance therewith.
Termination of Property Management Agreement. Seller shall terminate at its sole cost and expense at, and Purchaser shall not assume, any property management agreements affecting the Property.
Termination of Property Management Agreement. Duly executed terminations of any existing property management agreements affecting the Property.
Termination of Property Management Agreement. Evidence of termination of the property management agreement covering the Property, executed by Seller and property manager;
Termination of Property Management Agreement. A Termination of Property Management Agreement in the form as set forth at Schedule 10.
Termination of Property Management Agreement. In the event the Property Management Agreement is terminated without Cause by the Company, during the Restricted Period, the Restricted Stock will vest upon such termination (the “Termination Date”) if the Board of Director’s most recent estimated net asset value (“NAV”) per share of Common Stock plus total Distributions received by Stockholders prior to the Termination Date is equal to or greater than the Vesting Threshold as calculated through the Termination Date. If the Board of Directors has not conducted an evaluation of the Company’s NAV per share of Common Stock as of the Termination Date, or if the Vesting Threshold is not met as aforesaid, the Restricted Stock shall be immediately and permanently forfeited. If the Restricted Stock does not vest at the Termination Date pursuant to this Section 4, the Restricted Stock shall be immediately and permanently forfeited. If the Company terminates the Property Management Agreement for Cause during the Restricted Period, the Restricted Stock shall be immediately and permanently forfeited. If the Property Manager terminates the Property Management Agreement during the Restricted Period, the Restricted Stock shall be immediately and permanently forfeited.
Termination of Property Management Agreement. Evidence reasonably satisfactory to Purchaser that all property management agreements affecting the Property have been terminated at Seller’s sole cost and expense.
Termination of Property Management Agreement. Upon consummation ------------ --------------------------------------------- of a Proposed Transfer contemplated by this Article 12, if the General Partner is an Affiliate of the Property Manager, the General Partner shall cause the termination of the Property Management Agreement with respect to such Property such that the Property Manager shall have no further rights thereunder with respect to such Property or that certain Subsidiary which was the record owner of such Property.
Termination of Property Management Agreement. A termination of the property management agreement between Property Manager and the Company with respect to the Property, acknowledging termination as of the Closing Date and payment in full of all amounts due to Property Manager thereunder.
Termination of Property Management Agreement
