Subordination of Management Agreements Sample Clauses

Subordination of Management Agreements. Administrative Agent shall have received a copy of each Management Agreement and confirmations of the subordination of each Management Agreement, in form and substance satisfactory to Administrative Agent.
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Subordination of Management Agreements. (Mezzanine – Management Agreement) executed by First Mezzanine Borrower, MCK TRS, NTC TRS, First Mezzanine Lender, ARC Manager, as operator, and XxXxxxxx Hotel Management, Inc. (“XxXxxxxx”), as manager, for the benefit of First Mezzanine Lender (the “XxXxxxxx Management Agreement Subordination” and together with the XxXxxxxx Operating Agreement Subordination, the “XxXxxxxx Subordination”);
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Subordination of Management Agreements. To the extent that any management fees are paid to ARC or any Affiliate of ARC with respect to any Covered Facility, Borrower shall cause, or shall cause the applicable Subsidiary of Borrower to cause, ARC or such Affiliate of ARC to deliver an agreement, in form and substance satisfactory to Lender, that the payment of such management fees is subordinate to Borrower's obligations under Section 5.3(n) to make deposits into the Reserve Accounts.
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Subordination of Management Agreements. (Mezzanine – Operating Agreement) executed by First Mezzanine Borrower, ARC Hospitality Portfolio I MCK TRS, LLC, a Delaware limited liability company (“MCK TRS”), NTC TRS, First Mezzanine Lender, and ARC Manager, as operator, for the benefit of First Mezzanine Lender (the “XxXxxxxx Operating Agreement Subordination”);
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Subordination of Management Agreements. (Mezzanine – Management Agreement) executed by First Mezzanine Borrower, MISC TRS, First Mezzanine Lender, ARC Manager, as operator, and InnVentures IVI, LP (“Innventures”), as manager, for the benefit of First Mezzanine Lender (the “Innventures Management Agreement Subordination” and together with the Innventures Operating Agreement Subordination, the “Innventures Subordination”);
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Subordination of Management Agreements. Any property management agreement for or relating to all or any part of the Mortgaged Property, whether now in effect or entered into hereafter by Mortgagor, or any agent of Mortgagor, with a property manager shall contain a subordination provision whereby the property manager forever and unconditionally subordinates to the lien of this Mortgage any and all mechanics’ lien rights and claims that it or anyone claiming through or under it may have at any time pursuant to any statute or law (including, without limitation, the Illinois Mechanics Lien Act, 770 ILCS 60/1 et seq.). Such property management agreement or a short form thereof shall, at Mortgagee’s request, be recorded with the Office of the Recorder of Deeds of the county in which this Mortgage was filed. Second Omnibus Amendment 8
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Subordination of Management Agreements. 25 subsidiary..................................................................................
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Subordination of Management Agreements. Concurrently herewith, Tenant shall execute and enter into (and shall cause Pristine Senior Management, LLC, as Manager to execute and enter into) Subordination of Management Agreements for the Victory/Victoria Facilities in substantially the form of such Subordination of Management Agreements entered into by Tenant and Manager with respect to the Liberty Facilities.
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Related to Subordination of Management Agreements

  • Subordination Agreements Subordination Agreements with respect to all Subordinated Debt.

  • Termination of Management Agreement Evidence of the termination of any and all management agreements affecting the Property, effective as of the Closing Date, and duly executed by Seller and the property manager.

  • Subordination Agreement Each of (i) the subordination of interest payments to the Noteholders of the Class B Notes to the payment of any First Priority Principal Payment to the Noteholders of the Class A Notes and (ii) the subordination of interest payments to the Noteholders of the Class C Notes to the payment of any Second Priority Principal Payment to the Noteholders of the Class A Notes and the Class B Notes under Section 8.2(c) is a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code.

  • Assignment of Management Agreement As additional collateral security for the Loan, Borrower conditionally transfers, sets over, and assigns to Lender all of Borrower’s right, title and interest in and to the Management Agreement and all extensions and renewals. This transfer and assignment will automatically become a present, unconditional assignment, at Lender’s option, upon a default by Borrower under the Note, the Loan Agreement, the Security Instrument or any of the other Loan Documents (each, an “Event of Default”), and the failure of Borrower to cure such Event of Default within any applicable grace period.

  • SUBORDINATION OF AGREEMENT 18.1 The parties hereto and the employees of the City are governed by the provisions of applicable Federal Law, State Law, and the City Charter. When any provisions thereof are in conflict with the provisions of this Agreement, the provisions of said Federal Law, State Law, or City Charter are paramount and shall prevail.

  • Management Agreement The Management Agreement is in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Agreement of Subordination The Company covenants and agrees, and each holder of Notes issued hereunder by its acceptance thereof likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Four, and each Person holding any Note, whether upon original issue or upon registration of transfer, assignment or exchange thereof, accepts and agrees to be bound by such provisions. The payment of the principal of, premium, if any, and interest (including Liquidated Damages, if any) on all Notes (including, but not limited to, the redemption price with respect to the Notes called for redemption in accordance with Section 3.2 or submitted for redemption in accordance with Section 3.5, as the case may be, as provided in this Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred. No provision of this Article Four shall prevent the occurrence of any default or Event of Default hereunder.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • RESERVATION OF MANAGEMENT RIGHTS 5.01 The Union acknowledges that it is the exclusive function of the Company to:

  • Management Agreements Other than as contemplated by this Agreement, as of the date hereof, there are no contracts, undertakings, commitments, agreements or obligations or understandings between Parent or Merger Subsidiary, on the one hand, and any member of the Company’s management or the Company’s Board of Directors, on the other hand, relating in any way to the transactions contemplated by this Agreement or the operations of the Company after the Effective Time.

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