Manager Default definition

Manager Default. The occurrence of any of the events or conditions set forth in Section 9.1 of the Management Agreement.

Manager Default has the meaning set forth in Section 8.2 of the Management Agreement.

Manager Default shall have the meaning ascribed to such term in Section 9.01 hereof.

Examples of Manager Default in a sentence

• In the event that the Facility Agent has notified the Custodian that an Unmatured Event of Default, an Event of Default, an Unmatured Collateral Manager Default or a Collateral Manager Default has occurred and is continuing, the Collateral Manager shall not make any such request unless the Facility Agent shall have consented in writing thereto (which consent may be evidenced by an executed counterpart to such request).

• Notwithstanding the foregoing provisions of this Section 7.10, only one review or audit per fiscal year pursuant to this Section 7.10 shall be at the expense of the Borrower and additional reviews or audits in a fiscal year shall be at the expense of the requesting Lender(s); provided that, after the occurrence and during the continuance of a Collateral Manager Default or an Event of Default, any such reviews or audits, regardless of frequency, shall be at the expense of the Borrower.

• Upon the occurrence of the Manager Default, Owner shall have the right to terminate this Agreement by written notice to Manager, in addition to its right to seek damages or other remedies available to it at law or in equity.

• In the event that this Agreement is terminated prior to the expiration of the Term (or any Renewal Term), for any reason other than Manager Default and except as set forth in Section 12.4, then Owner shall pay to Manager the Termination Fee (as calculated below).

• If any such lien arises as a result of or in connection with a Manager Default, then Manager shall bear the cost of obtaining the lien release (exclusive of the cost of the Repair to which it pertains, unless Manager is otherwise responsible therefor) and the same shall not constitute an Operating Cost.

More Definitions of Manager Default

Manager Default means the occurrence of (a) any default by Manager to perform its duties or obligations under the Existing Management Agreement or (b) any failure by Manager to timely deliver any Manager Report.

Manager Default means a Manager Event of Default or any other circumstances which with the giving of notice, the passage of time or both would constitute a Manager Event of Default or otherwise entitle Owner to terminate this Agreement in its entirety pursuant to the terms hereof.

Manager Default shall have the meaning set forth in Section 11.1 hereof.

Manager Default has the same meaning as in the Note Trust Deed.

Manager Default means a “Manager Default” as defined in the Management Agreement.

Manager Default. The occurrence of any of the events or conditions set forth in Section 9 of the Management Agreement, after the expiration of the applicable grace and cure periods.

Manager Default. As defined in the Management Agreement.