Management Agreement Subordination definition

Management Agreement Subordination means, with respect to the Property, a document or documents, in form and substance satisfactory to Administrative Agent, pursuant to which Manager acknowledges and agrees to the collateral assignment of the Management Agreement to Lender and subordinates the Management Agreement to the applicable Security Instrument on terms and conditions reasonably satisfactory to Administrative Agent.
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Management Agreement Subordination means subordination agreement in the form of Exhibit I executed by the parties to the Management Agreement.
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Examples of Management Agreement Subordination in a sentence

  • During the continuance of a Default, but without limiting Manager’s rights pursuant to the Management Agreement Subordination, neither Borrower nor Operating Lessee shall have any right or ability to affect withdrawals from any Accounts.

  • Amounts so deferred shall be subject to the subordination provisions of Section 6 of the Management Agreement Subordination Agreement, and shall bear interest at a rate of ten percent (10%) per annum compounded annually, and shall be payable in any subsequent fiscal year of the Owner only from Profit Available for Incentive Management Fees.

  • As a condition to Beneficiary’s approval of any replacement manager, the manager shall consent to an assignment of management agreement substantially similar in form and substance as to the Assignment of Management Agreement, Subordination, Non-Disturbance and Attornment Agreement and Consent of Manager (the “Assignment of Management Agreement”) dated of even date herewith by and among Grantor, Manager and Beneficiary.

  • If Property management is provided by an Affiliate of the Borrower pursuant to a written contract and the Lender will require subordination of Property management fees, the Lender should attach to the Assignment of Management Agreement Exhibit A, Modifications to Assignment of Management Agreement (Subordination of Property Management Fees), Form 4508-A.

  • All references to “Maker”, "Borrower" and “Assignor” under the Note, the Security Instrument, the Lease Assignment, the Contract Rights Assignment and any other Original Loan Documents (other than the Original Guaranties, the Original Lockbox Agreement, the Original Deposit Account Agreement, the Original Borrower Certificate, and the Original Management Agreement Subordination) shall mean and refer to New Borrower rather than Original Borrower.

  • As a condition to Beneficiary’s approval of any replacement manager, the manager shall consent to an assignment of management agreement substantially similar in form and substance as to that certain Assignment of Management Agreement, Subordination, Non-Disturbance and Attornment Agreement and Consent of Manager dated of even date herewith by and among Grantor, Manager and Beneficiary (the “Assignment of Management Agreement”).

  • Borrowers shall cause each Manager that enters into a Management Agreement to enter into a Management Agreement Subordination to subordinate such Management Agreement to the Loan and collaterally assign such Management Agreement to Lender.

Related to Management Agreement Subordination

  • Management Fee Subordination Agreement means that certain Amended and Restated Management Fee Subordination Agreement, dated as of the Closing Date, by and between the Sponsor and Agent and acknowledged by the Borrower.

  • Affiliate Subordination Agreement means an Affiliate Subordination Agreement in the form of Exhibit B pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations.

  • Intercompany Subordination Agreement means an intercompany subordination agreement, dated as of even date with this Agreement, executed and delivered by each Loan Party and each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

  • Subordination Agreements means, collectively, any subordination agreements entered into by any Person from time to time in favor of Agent in connection with any Subordinated Debt, the terms of which are acceptable to the Agent, in each case as the same may be amended, restated or otherwise modified from time to time, and “Subordination Agreement” shall mean any one of them.

  • Subordination Agreement means any subordination agreement in form and substance satisfactory to Administrative Agent entered into from time to time with respect to Subordinated Debt.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Management Agreement means the agreement of the Directors in the form attached hereto as Schedule C. The Management Agreement shall be deemed incorporated into, and a part of, this Agreement.

  • Asset Management Agreement means, as the context requires, any agreement entered into between a Series and an Asset Manager pursuant to which such Asset Manager is appointed as manager of the relevant Series Assets, as amended from time to time.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Assignment of Management Agreement means the Assignment of Management Agreement and Subordination of Management Fees, dated the same date as this Loan Agreement, among Borrower, Lender and Property Manager, including all schedules, riders, allonges and addenda, as such Assignment of Management Agreement may be amended from time to time, and any future Assignment of Management Agreement and Subordination of Management Fees executed in accordance with Section 6.09(d).

  • Collateral Management Agreement The agreement dated as of the Closing Date, between the Issuer and the Collateral Manager relating to the management of the Collateral Obligations and the other Assets by the Collateral Manager on behalf of the Issuer, as amended from time to time in accordance with the terms thereof.

  • Arrangement Agreement has the meaning ascribed thereto in the recitals hereof;

  • Payment Agreement means a written agreement which provides

  • New Management Agreement means the management agreement to be entered into between Buyer and the Manager for the operation and management of the Hotel on and after the Closing Date.

  • Cash Management Agreement means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements.

  • Sponsor Management Agreement means the Management Agreement between certain of the management companies associated with the Sponsors and the Borrower.

  • Subordination Provisions has the meaning specified in Section 8.01(l).

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Credit Party and any Cash Management Bank.

  • Existing Management Agreement means that certain management agreement between the Seller and the Existing Manager for the operation and management of the Hotel.

  • Bailee Agreement means a Bailee Agreement among Seller, Buyer and Bailee in the form of Exhibit IV hereto.

  • Easement Agreement means any conditions, covenants, restrictions, easements, declarations, licenses and other agreements listed as Permitted Encumbrances or as may hereafter affect the Leased Premises.

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Investment Management Agreement means the Investment Management Agreement, dated as of the date hereof, by and between the Investment Manager and the Borrower.

  • leasing agreement means an agreement by which one person (the lessor) grants a right to possession or control of an object (with or without an option to purchase) to another person (the lessee) in return for a rental or other payment;

  • Management Agreements shall have the meaning provided in Section 5.05.

  • Management Letter means formal communications from the auditor to the client management in accordance with the International Standard on Auditing 265 (communicating deficiencies in internal control to those charged with governance and management), which is not required to be provided separately as it is equivalent to the Audit Findings and Recommendations prepared by the Project auditor and submitted to ADB;