MANAGER'S UNDERTAKINGS AFTER MANAGER EVENT Clause Samples
The "Manager's Undertakings After Manager Event" clause sets out the obligations that the manager must fulfill following the occurrence of a specified event affecting the manager, such as resignation, removal, or incapacity. Typically, this clause requires the manager to cooperate in the transition process, return company property, and provide necessary information or documentation to ensure continuity of management. Its core practical function is to facilitate a smooth handover and minimize disruption to the business by clearly outlining the manager's responsibilities after their role is affected by a significant event.
MANAGER'S UNDERTAKINGS AFTER MANAGER EVENT. At any time after a Manager Event occurs the Manager will:
(a) (NOTIFY LIQUIDITY FACILITY PROVIDER): immediately notify the Liquidity Facility Provider as soon as it becomes actually aware of the occurrence of:
(i) any Event of Default, Servicer Default, Trustee Default, Potential Termination Event, Perfection of Title Event or Manager Default; or
(ii) any litigation, arbitration, criminal or administrative proceedings relating to any of the Trustee's property, assets or revenues that involves a claim against it in excess of A$1 million or that, if decided adversely to it, could have a material adverse effect on its ability to perform the Obligations, and in each case advise the Liquidity Facility Provider of what steps it has taken and what steps it proposes to take in relation to such occurrences; and
(b) (DELIVER MATERIALS): deliver to the Liquidity Facility Provider:
(i) as soon as practicable and in any event not later than 120 days after the close of each of the Series Trust's financial years, a copy of the audited Accounts of the Series Trust;
(ii) as soon as practicable and in any event not later than 90 days after the first half of each of the Series Trust's financial years, a copy of a statement setting out the Assets and Liabilities of the Series Trust for that half-year;
(iii) a soon as practical and in any event not later than 90 days after each half year of each financial year of the Series Trust, a copy of the written report prepared by the Auditor in accordance with clause 21.9 of the Master Trust Deed;
(iv) as and when required by the Liquidity Facility Provider, a certificate executed by two Authorised Officers on behalf of the Manager stating to the best of the knowledge of the Manager whether or not an Event of Default, Servicer Default, Trustee Default, Potential Termination Event, Perfection of Title Event or Manager Default has occurred and if the same has occurred, setting out the details of such event and the steps (if any) taken by the Manager to remedy or cure the same; and
(v) promptly, such further information regarding the Series Trust's financial condition and business operations within the knowledge of the Manager as the Liquidity Facility Provider from time to time reasonably requires.
MANAGER'S UNDERTAKINGS AFTER MANAGER EVENT. At any time after a Manager Event occurs the Manager will:
MANAGER'S UNDERTAKINGS AFTER MANAGER EVENT. At any time after a Manager Event occurs the Manager will:
(a) (Notify Standby Redraw Facility Provider): immediately notify the Standby Redraw Facility Provider as soon as it becomes actually aware of the occurrence of:
(i) any Event of Default, Servicer Default, Trustee Default, Potential Termination Event, Perfection of Title Event or Manager Default; or
(ii) any litigation, arbitration, criminal or administrative proceedings relating to any of the Trustee's property, assets or revenues that involves a claim against it in excess of A$1 million or that, if decided adversely to it, could have a material adverse effect on its ability to perform the Obligations, and in each case advise the Standby Redraw Facility Provider of what steps it has taken and what steps it proposes to take in relation to such occurrences; and
(b) (Deliver Materials): deliver to the Standby Redraw Facility Provider:
(i) as soon as practicable and in any event not later than 120 days after the close of each of the Series Trust's financial years, a copy of the audited Accounts of the Series Trust;
(ii) as soon as practicable and in any event not later than 90 days after the first half of each of the Series Trust's financial years, a copy of a statement setting out the Assets and Liabilities of the Series Trust for