Common use of Manager Unsuitability Clause in Contracts

Manager Unsuitability. Notwithstanding anything to the contrary contained herein, in the event that any Owner is notified by any regulatory agency that its continued association with Manager is likely to jeopardize the obtaining of or retention of any license, permit or approvals pursued or held by Owner or any of its Affiliates in any jurisdiction, then Owner will notify Manager in writing, and Manager will have thirty (30) days from the date of such notification to cure or otherwise address the suitability issue to Owner’s reasonable satisfaction. If Manager fails to cure or otherwise address the suitability issue to Owner’s reasonable satisfaction, then Owner may terminate this Agreement immediately upon written notice to Manager.