Manager Termination Event means the occurrence of an event specified in Section 6.1 of the Management Agreement.
Manager Termination Event shall have the meaning set forth in Section 7.1 of the Management Agreement.
Manager Termination Event has the meaning set forth in Section 6.1(a).
Examples of Manager Termination Event in a sentence
No Manager Termination Event has occurred or is continuing, and, to the Actual Knowledge of the Manager, there is no event which, with notice or lapse of time, or both, would constitute a Manager Termination Event.
More Definitions of Manager Termination Event
Manager Termination Event has the meaning set forth in Section 7.1 of the Management Agreement.
Manager Termination Event means the termination of the Management Agreement.
Manager Termination Event means any of the following events:
Manager Termination Event shall have the meaning ascribed to it in Section 19(b).
Manager Termination Event shall have the meaning set forth in Section 12(t) of this Agreement.
Manager Termination Event means a determination by Lender, made in the exercise of Lender's reasonable good faith discretion, that replacing Manager with a replacement manager is likely to result in a positive affect on the value of the Property. If Lender fails to determine that a Manager Termination Event exists, then Lender (together with any successor or any purchaser at foreclosure) shall be deemed to waive any right to terminate the Management Agreement as a result of an Event of Default.
Manager Termination Event means a determination by Lender, made in the exercise of Lender’s reasonable good faith discretion, that replacing Agent with a replacement manager is likely to result in a positive affect on the value of the Property. If Lender fails to determine that a Manager Termination Event exists, then Lender (together with any successor or any purchaser at foreclosure) shall be deemed to waive any right to terminate the Management Agreement as a result of an Event of Default under the Loan Agreement. In addition to the foregoing, in the event that Lender, in Lender’s reasonable discretion, at any time prior to the termination of this Assignment, determines that the Property is not being managed in accordance with generally accepted management practices for projects similarly situated, Lender may deliver written notice thereof to Borrower and Agent, which notice shall specify with particularity the grounds for Lender’s determination. If Lender reasonably determines that the conditions specified in Lender’s notice are not remedied to Lender’s reasonable satisfaction by Borrower or Agent within thirty (30) days from the date of such notice or that Borrower or Agent have failed to diligently undertake correcting such conditions within such thirty (30) day period, Lender may direct Borrower to terminate the Management Agreement and to replace Agent with a manager approved by Lender on terms and conditions reasonably satisfactory to Lender, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.