Termination upon Demolition or Foreclosure. A. Owner may, by written notice to Management Company, terminate this Agreement upon the demolition of the Hotel, such Termination to be effective upon the expiration of ninety (90) days following Management Company’s receipt of such notice from Owner. Any such notice shall contain sufficient information to permit Management Company to comply with any required notices to Hotel employees under federal or state laws, including, without limitation, the WARN Act. Upon termination under this Section 20.02 A, all amounts due to Management Company hereunder in connection with such termination shall be paid by Owner. A termination under this Section 20.02 A shall not be a Default and no termination fees shall be paid to Management Company.
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Samples: Management Agreement (Eagle Hospitality Properties Trust, Inc.), Management Agreement (Highland Hospitality Corp)
Termination upon Demolition or Foreclosure. A. Owner may, by written notice to Management Company, terminate this Agreement upon the demolition of the Hotel, such Termination to be effective upon the expiration of ninety (90) days following Management Company’s receipt of such notice from Owner. Any such notice shall contain sufficient information to permit Management Company to comply with any required notices to Hotel employees under federal or state laws, including, without limitation, the WARN Act. Upon termination under this Section 20.02 A, all amounts due to Management Company hereunder in connection with such termination shall be paid by Owner. A termination under this Section 20.02 A shall not be a Default and no termination fees shall be paid to Management Company.
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Termination upon Demolition or Foreclosure. A. Owner may, by written notice to Management Company, terminate this Agreement upon the demolition of the Hotel, such Termination to be effective upon the expiration of ninety (90) days following Management Company’s 's receipt of such notice from Owner. Any such notice shall contain sufficient information to permit Management Company to comply with any required notices to Hotel employees under federal or state laws, including, without limitation, the WARN Act. Upon termination under this Section 20.02 A, all amounts due to Management Company hereunder in connection with such termination shall be paid by Owner. A termination under this Section 20.02 A shall not be a Default and no termination fees shall be paid to Management Company.
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