Management by Third Persons Sample Clauses

Management by Third Persons. Tenant agrees that it will not enter into any management agreement (or similar arrangement) under which the right to manage the operations of the Facility is granted to a third party. Tenant may enter into a management agreement with an Affiliate of Tenant if Landlord gives its written approval thereto and provided that: (i) the management agreement is in writing and a complete copy thereof is delivered to Landlord prior to its effective date; (ii) the management agreement provides for total compensation to the manager not to exceed 5% of the gross revenues of the Facility; and (iii) the Manager shall have entered into an agreement with Landlord acknowledging that the management agreement and such manager’s rights to payment of fees thereunder is subordinate to this Lease and to the rights and interests of Landlord in the Facility under management.