Common use of The Management Agreement Clause in Contracts

The Management Agreement. Borrower shall cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by Lender. Borrower shall (i) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and (ii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed. If Borrower shall default, beyond the expiration of any applicable notice and cure period, in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.

The Management Agreement. Borrower shall cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by LenderAgreement. Borrower shall (i) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and (ii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed. If Borrower shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observedobserved beyond the expiration of any applicable notice and grace periods, then, without limiting Lender’s 's other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.

The Management Agreement. Borrower shall cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by LenderAgreement. Borrower shall (i) diligently perform and observe all of the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and (ii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed. If Borrower shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to to. pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.

The Management Agreement. Borrower shall, and shall cause each Borrower Subsidiary to, (i) cause each applicable Manager to manage the each such Individual Property substantially in accordance with the applicable Management Agreement and Lender acknowledges that the Management Agreement has been approved by Lender. Borrower shall Agreement, (iii) diligently perform and observe all of the material terms, covenants and conditions of the Management Agreement on the part of Borrower Entity to be performed and observed and observed, (iiiii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of under the Management Agreement on of which it is aware, (iv) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the part Management Agreement, and (v) promptly enforce the performance and observance of Borrower all of the covenants required to be performed and observedobserved by Manager under the Management Agreement. If any Borrower Entity shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or material condition of the Management Agreement on the part of any such Borrower Entity to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing any Borrower Entity from any of its obligations Obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be reasonably appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of such Borrower Entity to be materially performed or materially observed.

The Management Agreement. Borrower shall (i) cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by Lender. Borrower shall Agreement, (iii) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and observed, (iiiii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of under the Management Agreement on of which it is aware and (iv) promptly enforce the part performance and observance of Borrower all of the covenants required to be performed and observedobserved by Manager under the Management Agreement. If Borrower shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s 's other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.

The Management Agreement. Each Borrower shall cause the Manager of the Individual Property(ies) that it owns to manage the applicable Individual Property substantially in accordance with the its Management Agreement and Lender acknowledges that the Management Agreement has been approved by LenderAgreement. Each Borrower shall (i) diligently perform and observe all of the material terms, covenants and conditions of the its Management Agreement on the part of such Borrower to be performed and observed and observed, (ii) promptly notify Lender of any notice to such Borrower of any default by such Borrower in the performance or observance of any of the terms, covenants or conditions of the its Management Agreement on the part of such Borrower to be performed and observed, and (iii) upon request of Lender, promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under each Management Agreement. If any Borrower shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or condition of the any Management Agreement on the part of such Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing such Borrower from any of its obligations hereunder or under the such Management Agreement, upon five (5) Business Days’ prior notice to Borrowers, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the such Management Agreement on the part of the Borrower to be performed or observed.

The Management Agreement. Borrower shall cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by LenderAgreement. Borrower shall (i) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and (ii) promptly notify Lender of any notice to Borrower of any default by Borrower in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed. If Borrower shall default, beyond the expiration of any applicable notice and cure period, default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s 's other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.

The Management Agreement. Borrower shall cause Manager to manage the Property in accordance with the Management Agreement and Lender acknowledges that the Management Agreement has been approved by LenderAgreement. Borrower shall (ia) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed and observed, (iib) promptly notify Lender of any notice to Borrower of any default that has occurred and is continuing beyond expiration of applicable cure periods by Borrower in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed, and (c) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the Management Agreement. If Borrower shall default, default beyond the expiration of any applicable notice and cure period, periods in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed.