Common use of The Management Agreement Clause in Contracts

The Management Agreement. At any time that a Management Agreement is in place, Borrower shall, or shall cause Operating Company, to cause Manager to manage the Property in accordance with the Management Agreement. At any time that a Management Agreement is in place, Borrower shall or shall cause Manager to (a) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed and observed, (b) promptly notify Agent of any notice to Borrower or Operating Company of any default by Borrower or Operating Company, as applicable, in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower or Operating Company to be performed and observed and (c) promptly notify Agent of any default by Manager in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Manager to be performed and observed. At any time that a Management Agreement is in place, if Borrower or Operating Company shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed, then, without limiting Agent’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or waiving or releasing Borrower or Operating Company, as applicable from its obligations under the Management Agreement, Agent shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed.

The Management Agreement. At any time that a Management Agreement is in place, Borrower shall, or shall cause Operating Company, use commercially reasonable efforts to cause Manager to manage the Property Property, in all material respects, in accordance with the Management Agreement. At any time that a Management Agreement is , shall use commercially reasonable efforts to cause the Manager to maintain all Rents in placeone (1) or more segregated accounts, Borrower and shall or shall use commercially reasonable efforts to cause Manager to make all required Manager Required Payments. Borrower shall (a) diligently perform and observe observe, in all material respects, all of the terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed and observed, (b) promptly after Borrower becomes aware notify Agent of any notice to Borrower or Operating Company of any material default by Borrower or Operating Company, as applicable, in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower or Operating Company to be performed and observed and (c) promptly after Borrower becomes aware notify Agent of any material default by Manager in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Manager to be performed and observed. At any time that a Management Agreement is in place, if If Borrower or Operating Company shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed, then, without limiting Agent’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or waiving or releasing Borrower or Operating Company, as applicable from its obligations under the Management Agreement, Agent shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed. Borrower shall promptly deliver to Agent a copy of each financial statement, business plan, Capital Expenditure plan, notice and report received by Borrower under the Management Agreement.

The Management Agreement. At any time that a Management Agreement is in place, Borrower shall, or shall cause Operating Company, to cause Manager to manage the Property in accordance with the Management Agreement. At any time that a Management Agreement is in place, Borrower shall or shall cause Manager the Operating Company to (ai) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, Company to be performed and observed, (bii) promptly notify Agent Lender of any notice to Borrower or Operating Company of any material default by Borrower or Operating Company, as applicable, Company in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower or Operating Company to be performed and observed observed, and (ciii) promptly notify Agent deliver to Lender a copy of any default by Manager in the performance or observance of any of the termseach financial statement, covenants or conditions of business plan, capital expenditures plan, report and estimate required to be delivered to Operating Company under the Management Agreement on the part and actually received by either of Manager to be performed and observedBorrower or Operating Company. At any time that a Management Agreement is in place, if If Borrower or Operating Company shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower or Operating Company, as applicable, Company to be performed or observedobserved beyond applicable notice and grace periods, then, without limiting Agent’s Lender's other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or waiving or releasing Borrower or Operating Company, as applicable from its obligations under the Management Agreement, Agent Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed.

The Management Agreement. At any time that Borrower currently self-manages the Property. If Borrower retains a Management Agreement is Manager in placeaccordance with the terms and provisions of this Agreement, Borrower shall, or shall cause Operating Company, to cause Manager to manage the Property in accordance with the Management Agreement. At any time that If Borrower retains a Management Agreement is Manager in placeaccordance with the terms and provisions of this Agreement, Borrower shall or shall cause Manager to (a) diligently perform and observe in all material respects all of the terms, covenants and conditions of the Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed and observed, (b) promptly notify Agent of any notice to Borrower or Operating Company of any default by Borrower or Operating Company, as applicable, in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Borrower or Operating Company to be performed and observed and (c) promptly notify Agent of any default by Manager in the performance or observance of any of the terms, covenants or conditions of the Management Agreement on the part of Manager to be performed and observed. At any time that a Management Agreement is in place, if If Borrower or Operating Company shall default in the performance or observance of any material term, covenant or condition of the any such Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed, then, without limiting Agent’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its obligations hereunder or waiving or releasing Borrower or Operating Company, as applicable from its obligations under the Management Agreement, Agent shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the such Management Agreement on the part of Borrower or Operating Company, as applicable, to be performed or observed.