Termination with Respect to an Owner Car Clause Samples

Termination with Respect to an Owner Car. Notwithstanding any other provisions of this Agreement to the contrary, the Management Term and all duties and obligations of Manager hereunder shall terminate with respect to any Owner Car that suffers a Casualty Occurrence as of the date of such Casualty Occurrence; provided, however, that Manager shall have the continued obligation to pursue any insurance or other claim arising out of such Casualty Occurrence and to collect and enforce the collection of User Lease rentals and other required payments during the pendency of the resolution of the Casualty Occurrence or thereafter, as applicable. Each of Owner and Manager shall notify the other party promptly after it obtains knowledge of any Casualty Occurrence.