Manager Event of Default definition

Manager Event of Default has the meaning ascribed to such term in Section 9.01.

Manager Event of Default. The filing by Manager of a voluntary petition in bankruptcy or insolvency or a petition for reorganization under any bankruptcy law, or the admission by Manager that it is unable to pay its debts as they become due, or the institution of any proceeding by Manager for its dissolution or termination.

Manager Event of Default has the meaning set forth in Section 16.1.2.

Examples of Manager Event of Default in a sentence

• Any payments received by Owner under any of the provisions of this Agreement during the existence or continuance of a Manager Event of Default shall be applied to Manager’s current and past due obligations under this Agreement in such order as Owner may determine or as may be prescribed by applicable law.

• Any Asset Manager Event of Default occurs and the Asset Manager is not replaced with Radian Real Estate Management LLC or such other successor Asset Manager acceptable to Administrative Agent, in its sole discretion, within thirty (30) days; provided, however, such Asset Manager Event of Default may be waived in writing by Administrative Agent in its sole and absolute discretion on or prior to the thirtieth (30th) day.

• Owner covenants and agrees, in the event of any termination of this Agreement as a result of a Manager Event of Default, to use reasonable efforts to mitigate its damages.

• Tenant shall bear all losses suffered in any investment of funds into any such Bank Account, and Manager shall have no liability or responsibility for such losses, except to the extent due to a Manager Event of Default.

• To the maximum extent permitted by law, Manager hereby expressly waives any and all rights of redemption granted under any present or future laws in the event of Manager being evicted or dispossessed, or in the event of Owner obtaining possession of the Hotel, by reason of the occurrence and continuation of a Manager Event of Default hereunder.

More Definitions of Manager Event of Default

Manager Event of Default shall have the meaning given such term in Section 17.1.

Manager Event of Default means, in relation to a Chargor, that Chargor entering into Insolvency Administration.

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

Manager Event of Default means any of the following:

Manager Event of Default has the meaning given in Section 7.1.

Manager Event of Default has the meaning described in ss. 11.

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