Manager Transfer definition

Manager Transfer is a voluntary or involuntary Transfer by a Manager (“Departing Manager”) to one or more Existing Owners.
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Manager Transfer is defined in Section 7.03(c)(i).
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Manager Transfer as defined in Sections 9(a) and 9(b) occurs, the Partnerships may terminate the Percentage Leases for all (but not less than all) of the Sierra Suites hotels then-owned by the Partnerships (the "Sierra Suites Hotels") without fee, cost or penalty to the Partnerships. Such right shall continue to apply when there are more than twenty-five (25) Sierra Suites hotels open and operating if the Partnerships have not received cumulative lease payments under the Percentage Leases for the Sierra Suites Hotels equal to a cumulative annual rate of twelve percent (12%) of the sum of the aggregate purchase prices paid by the Partnerships for the Sierra Suites Hotels plus amounts expended with respect to such Sierra Suites Hotels under Article XXXVIII of such Percentage Leases, until such time as the Partnerships have received such a 12% cumulative annual return. Franchisor shall provide the Partnerships with written notice of the intended transfer not less than 45 days prior to the proposed closing and shall promptly respond to any inquiry of a Partnership. The Partnerships shall have 30 days to affirmatively elect to terminate the Percentage Leases, by
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Examples of Manager Transfer in a sentence

  • Notwithstanding anything herein to the contrary, no Member may, without the prior written consent of the Manager, Transfer all or any portion of its Membership Interests to the extent such Transfer (a) would violate any applicable securities laws, or (b) would cause a termination of the LLC for federal income tax purposes.

  • In such case, provided the data in the Periodic Remittance Report are in a format readable by the Back-Up Manager, the Back-Up Manager shall create a set of conversion routines and database mapping programs, as necessary, that will enable the Back-Up Manager to (i) receive such data from the Asset Manager on a monthly basis and to ensure that the data is readable, and (ii) independently generate such Periodic Remittance Reports, as applicable, following the Back-Up Manager Transfer Date.

  • If a Trust Manager Default shall have occurred and then be continuing, the Indenture Trustee, in accordance with the written direction of the Requisite Global Majority, shall deliver to the Manager (with a copy to each Administrative Agent, each Interest Rate Hedge Provider and the Manager Transfer Facilitator) a Manager Termination Notice terminating the Manager of its responsibilities in accordance with the terms of the Management Agreement.

  • The Indenture Trustee, on behalf of the Noteholders and each Interest Rate Hedge Provider, has, pursuant to the Manager Transfer Facilitator Agreement, appointed the Manager Transfer Facilitator to perform all of the activities set forth therein.

  • All of the duties and responsibilities of the Administrative Agent and Manager Transfer Facilitator set forth in this Indenture, any Supplement or any other Related Document issued pursuant hereto are subject in all respects to the terms and conditions of the Administration Agreement and the Manager Transfer Facilitator Agreement, respectively.

  • The Directors shall not be responsible or liable in any event for any neglect or wrongdoing of any officer, agent, employee of the Company or any service provider of the Company, including the Investment Manager, Transfer Agent and custodian.

  • Each of the Issuer, the Indenture Trustee and, by acceptance of its Notes, each Noteholder hereby acknowledges the terms of the Administration Agreement and the Manager Transfer Facilitator Agreement, respectively, and agrees to cooperate with the Administrative Agent and the Manager Transfer Facilitator in their execution of its respective duties and responsibilities.

  • The Issuer shall pay for the cost of one such visit in any calendar year by the Administrative Agent and the Manager Transfer Facilitator.

  • In no event shall either the Indenture Trustee or the Manager Transfer Facilitator be required to act as Manager hereunder.

  • Notwithstanding the foregoing, any Holder may, at any time, without the consent of the Manager, Transfer all or any portion of its Units pursuant to a Permitted Transfer (including, in the case of a Holder that is a Permitted Lender Transferee, any Transfer of Units to a Third-Party Pledge Transferee).

Related to Manager Transfer

  • Servicing Transfer Any transfer of the servicing by a Prior Servicer of Mortgage Loans to the Servicer under this Agreement.

  • IDR Transfer Agreement means an agreement to transfer, subject to the terms of Tariff, Part VI, section 237, Incremental Deliverability Rights to a party for the purpose of eliminating or reducing the need for Local or Network Upgrades that would otherwise have been the responsibility of the party receiving such rights. “Immediate-need Reliability Project” shall have the same meaning provided in the Operating Agreement.

  • Securitization Transfer The sale or transfer of some or all of the Mortgage Loans to a trust or other entity as part of a publicly-issued or privately-placed, rated or unrated mortgage pass-through or other mortgage-backed securities transaction.

  • Servicing Transfer Event means any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is required to be transferred to the Special Servicer from the Master Servicer.

  • Custody transfer means the transfer of produced crude oil and/or condensate, after processing and/or treating in the producing operations, from storage tanks or automatic transfer facilities to pipelines or any other forms of transportation.