Examples of Current Management Agreement in a sentence
There is no Management Agreement in force and effect as of the date hereof, other than the Current Management Agreement.
The Current Management Agreement will be in effect from year-to-year if approved annually by the Board of Directors or by the affirmative vote of the holders of a majority of outstanding voting securities, including, in either case, approval by a majority of the directors who are not interested persons.
Sellers have good and valid title to, or a valid and enforceable right to the Personal Property and the same is (or will be at Closing) free and clear of all liens, charges and encumbrances, other than the rights of any vendors or suppliers under Contracts, any Assumed Personal Property Debt and the rights, if any of any Current Manager under any applicable Current Management Agreement.
It is noted that the proposed Management Agreement does not include an adjustment period (unlike the Current Management Agreement, under which Ms. Danna Azrieli is entitled to adjustment pay for a 9-month period).
The Company’s Board of Directors approved the continuation of the Current Management Agreement in October 2019.