Examples of Manager Replacement Event in a sentence
So long as any Equipment Notes remain outstanding, if a Manager Replacement Event has occurred and is continuing, the Pass Through Trustee shall have the right, but not the obligation, to require the Lessee to replace the Manager as provided in this Section 6.12 but only if the Other Pass Through Trustee, simultaneously therewith exercises its right under Section 6.12 of the respective Other Participation Agreements.
Subject to certain conditions, the Designated Successor Manager will replace Carlson Capital as the Collateral Manager if a Manager Replacement Event occurs or if Carlson Capital is otherwise removed or resigns as Collateral Manager.
Upon the occurrence of a Manager Replacement Event pursuant to clause (ii) of the definition thereof, a cure of such Manager Replacement Event may be effected within a period of 30 calendar days from the date of occurrence of such Manager Replacement Event by effecting an issuance of additional Subordinated Notes in accordance with the Indenture.
Replacement of Investment Manager After Manager Replacement Event If a Manager Replacement Event occurs, the Security Trustee will use its commercially reasonable efforts to appoint a Substitute Investment Manager in place of the Investment Manager effective as of the Investment Management Transition Date.
Once these conditions, processes, procedures and/or documents have been finalized (collectively, and as may be amended from time to time on mutual agreement, the “Transitional Arrangements”), then they shall be taken into consideration whenever a subsequent Manager Replacement Event shall occur.
The second sentence of this Section 11.1 shall not apply where the University is the Manager pursuant to a Manager Replacement Event, in which case the Students’ Union shall be responsible for the provision of Caretaking Services to the Conference and Events Loading Dock at its sole expense.
If a Manager Replacement Event occurs after the Back-Up Manager Termination Date, there will be no Back-Up Manager.
If a Manager Replacement Event occurs and a Substitute Investment Manager has not been appointed in accordance with the Investment Management Agreement within 90 days, the Enforcement Date will occur (if it has not already occurred) and the Security Trustee will deliver an Enforcement Notice in accordance with the Security Agreement, the Senior Notes will be accelerated, and the Collateral will be subject to liquidation.
In that case, the Investment Manager will perform the duties described for the Back-Up Manager plus the duties of the Administrator that had been assumed by the Investment Manager from the date of the Manager Replacement Event until a Substitute Investment Manager is appointed or the Collateral is liquidated if none is appointed, in addition to the limited duties the Investment Manager has after a Manager Replacement Event occurs.