External Management Agreement definition
Examples of External Management Agreement in a sentence
This Agreement shall automatically terminate upon the effective date of termination or expiration of that certain External Management Agreement to be entered into between Property Manager and Retail Value Inc., an Ohio corporation (“RVI”).
This Agreement shall automatically terminate upon the effective date of termination or expiration of that certain External Management Agreement to be entered into between DDR Asset and Retail Value Inc., an Ohio corporation (“RVI”).
Effective as of the Effective Date, without any further action required by any party thereto, the Original External Management Agreement shall hereby terminate and, except as set forth in the following sentence, shall be of no further force or effect.
Nothing in this Agreement shall in any way amend, modify or otherwise change any of the terms, conditions, rights or obligations in the Property Management Agreements or that certain External Management Agreement, dated as of July 1, 2018, by and between RVI and DDR Asset Management LLC (as amended, assigned or supplemented, the “EMA”).
Any notice, notice periods or other requirements under the Original External Management Agreement necessary to give effect to the termination contemplated by this Section 2 are hereby expressly waived by and on behalf of the parties thereto.
The Management Agreement or the External Management Agreement is amended or terminated without prior written consent of the Lender (such consent not to be unreasonably withheld in case the proposed amendment does not violate the Finance Documents and does not have negative impact on the Budget).
Notwithstanding any provision of the Original External Management Agreement (including any provision that would purport to survive the termination thereof), except for the limitation of liability and indemnification provisions set forth in Section 21 thereof which shall survive such termination, none of the provisions of the Original External Management Agreement shall survive the termination thereof.
It is hereby acknowledged that pursuant to Section 4.1 of each of the Property Management Agreements, without any further action required by any party thereto, each Property Management Agreement will automatically terminate on the Effective Date effective upon the termination of the Original External Management Agreement.