Upon a Casualty or Condemnation. Manager shall have the right to terminate this Agreement as provided in Section 15.1.2 due to a Casualty only if Owner elects not to undertake Restoration and sells any material portion of the remaining Managed Facilities and interest in the Premises and/or the Ground Lease (the “Remainder”). Manager shall have the right to terminate this Agreement as provided in Section 15.2.2 due to a Condemnation and Manager shall share in the condemnation proceeds as set forth in Section 15.2.2. Such termination shall be effective as of the date set forth in the notice of termination. A Termination Fee shall not be payable by Owner upon a termination by Manager pursuant to this Section 16.2.4.
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Samples: Management Agreement (Caesars Acquisition Co), Management Agreement (Caesars Acquisition Co), Management Agreement (Caesars Acquisition Co)
Upon a Casualty or Condemnation. Manager shall have the right to terminate this Agreement as provided in Section 15.1.2 due to a Casualty only if Owner elects not to undertake Restoration and sells any material portion of the remaining Managed Facilities and interest in the Premises and/or the Ground Lease (the “Remainder”). Manager shall have the right to terminate this Agreement as provided in Section 15.2.2 due to a Condemnation and Manager shall share in the condemnation proceeds as set forth in Section 15.2.2. Such termination shall be effective as of the date set forth in the notice of termination. A Termination Fee shall not be payable by Owner upon a termination by Manager pursuant to this Section 16.2.4.
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