Common use of Action Upon Termination Clause in Contracts

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicable:

Appears in 7 contracts

Samples: Business Management Agreement (Select Income REIT), Business Management Agreement (Government Properties Income Trust), Business Management Agreement (Government Properties Income Trust)

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Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 17 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 1918, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicable:

Appears in 6 contracts

Samples: Business Management Agreement (Government Properties Income Trust), Business Management Agreement (Government Properties Income Trust), Business Management Agreement (Government Properties Income Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 hereof17 or 18, the Manager shall not be entitled to no compensation for further services rendered hereunder for the pro-rata remainder of the then-current term of this Agreementpursuant to Section 10 or 11, but the Manager shall be paid, on a pro rata basis as set forth in this Section 19, paid all compensation due for services performed prior to the effective date of such terminationtermination and, including without limitationif this Agreement is terminated pursuant to Section 18(b) or not renewed pursuant to Section 17(b), a pro-rata portion of the current year’s Incentive Termination Fee. Upon such termination, the Manager shall shall, as promptly as practicable:

Appears in 4 contracts

Samples: Management Agreement (Tremont Mortgage Trust), Form of Management Agreement (Tremont Mortgage Trust), Form of Management Agreement (Tremont Mortgage Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 17 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicableimmediately shall:

Appears in 2 contracts

Samples: Business Management Agreement (Hospitality Properties Trust), Business Management Agreement (Hospitality Properties Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 17 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to the effective date of such termination, including including, without limitation, a pro-pro rata portion of the then current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicableimmediately shall:

Appears in 2 contracts

Samples: Business Management Agreement (Senior Housing Properties Trust), Business Management Agreement (Senior Housing Properties Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement Agreement, pursuant to Section 18 hereof, the Manager shall not be entitled to no compensation for services further service rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19, paid all compensation due and reimbursed for services performed prior to all expenses accrued through the effective date of termination. The Manager shall forthwith upon such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicable:

Appears in 2 contracts

Samples: Management Agreement (Charter Municipal Mortgage Acceptance Co), Management Agreement (Charter Municipal Mortgage Acceptance Co)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 16 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicableimmediately shall:

Appears in 1 contract

Samples: Business Management Agreement (Hospitality Properties Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 hereofAgreement, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-then current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 1916, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicable:

Appears in 1 contract

Samples: Business Management Agreement (RMR Group Inc.)

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Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 hereof17 of this Agreement, the Manager shall not be entitled to no compensation for further services rendered hereunder for the pro-rata remainder of the then-current term of under this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19, paid all compensation due for services performed prior accruing to the effective date of such terminationtermination and, including without limitationif terminated pursuant to Section 17(b) or 17(d) of this Agreement, a pro-rata portion of the current year’s Incentive Feeapplicable Termination Fee (if any). Upon such termination, the Manager shall as promptly as practicableforthwith:

Appears in 1 contract

Samples: Management Agreement (Claros Mortgage Trust, Inc.)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 16 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to the effective date of such termination, including including, without limitation, a pro-pro rata portion of the then current year’s 's Incentive Fee. Upon such termination, the Manager shall as promptly as practicableimmediately shall:

Appears in 1 contract

Samples: Business Management Agreement (Senior Housing Properties Trust)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 hereofAgreement, the Manager shall be entitled to no compensation for services rendered hereunder for in the pro-rata remainder case of the then-current term of termination pursuant to this AgreementArticle VII, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to such termination. The provisions of Section 5.3, Section 5.4, and Section 5.6 shall apply to the portion of the calendar year which ends on the effective date of such termination, including without limitation, a pro-rata portion of with respect to the current year’s Incentive FeeExcess Amount and Operating Expenses accrued to such date. Upon such termination, the Manager shall as promptly as practicableimmediately shall:

Appears in 1 contract

Samples: Management Agreement (Foundation Capital Resources Inc)

Action Upon Termination. From and after the effective date of any termination of this Agreement pursuant to Section 18 17 hereof, the Manager shall be entitled to no compensation for services rendered hereunder for the pro-rata remainder of the then-current term of this Agreement, but shall be paid, on a pro rata basis as set forth in this Section 19basis, all compensation due for services performed prior to the effective date of such termination, including without limitation, a pro-rata portion of the current year’s Incentive Fee. Upon such termination, the Manager shall as promptly as practicable:

Appears in 1 contract

Samples: Management Agreement (Tortoise Capital Resources Corp)

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