Common use of Action Upon Termination Clause in Contracts

Action Upon Termination. (a) From and after the effective date of termination of this Agreement pursuant to Section 22 hereof, the Advisor shall not be entitled to compensation for further services rendered hereunder, but shall be entitled to receive from the Company within 30 days after the effective date of such termination, an amount in cash equal to all earned but unpaid Asset Management Fees payable to the Advisor prior to the termination of this Agreement.

Appears in 19 contracts

Samples: Advisory Agreement (Unlimited Sky Holdings, Inc.), Advisory Agreement (Apple REIT Ten, Inc.), Advisory Agreement (Apple REIT Ten, Inc.)

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