Manager Termination Event definition

Manager Termination Event means the occurrence of an event specified in Section 6.1 of the Management Agreement.

Manager Termination Event has the meaning set forth in Section 6.1(a).

Manager Termination Event means the termination of the Management Agreement.

Examples of Manager Termination Event in a sentence

• No Manager Termination Event has occurred or is continuing, and, to the Actual Knowledge of the Manager, there is no event which, with notice or lapse of time, or both, would constitute a Manager Termination Event.

• In the absence of receipt of such notice or actual knowledge, the Indenture Trustee may conclusively assume that there is no such default, Default, Event of Default, Servicer Termination Event, Manager Termination Event or event.

• The Cash Manager shall deliver to the Issuer and the Security Trustee as soon as reasonably practicable but in any event within seven (7) Business Days of becoming aware thereof a notice of any Cash Manager Termination Event, Event of Default or any event which with the giving of notice or expiry of any grace period or certification, as specified in such Cash Manager Termination Event would constitute the same.

• Potential Manager Termination Event No Cash Trapping CommencedCommencement Datei.

• Upon the occurrence and during the continuation of a Collateral Manager Termination Event, notwithstanding anything herein to the contrary, the Administrative Agent, by written notice to the Collateral Manager with a copy to the Borrower, the Equityholder, the Collateral Agent and each other Lender (such notice, a “Collateral Manager Termination Notice”), may, in its sole discretion, terminate all of the rights and obligations of the Collateral Manager as “Collateral Manager” under this Agreement.

More Definitions of Manager Termination Event

Manager Termination Event has the meaning set forth in Section 7.1 of the Management Agreement.

Manager Termination Event shall have the meaning ascribed thereto in the Management Agreement.

Manager Termination Event means any of the following events:

Manager Termination Event has the meaning specified in Section 20(b).

Manager Termination Event means a determination by Lender, made in the exercise of Lender’s reasonable good faith discretion, that replacing Agent with a replacement manager is likely to result in a positive affect on the value of the Property. If Lender fails to determine that a Manager Termination Event exists, then Lender (together with any successor or any purchaser at foreclosure) shall be deemed to waive any right to terminate the Management Agreement as a result of an Event of Default under the Loan Agreement. In addition to the foregoing, in the event that Lender, in Lender’s reasonable discretion, at any time prior to the termination of this Assignment, determines that the Property is not being managed in accordance with generally accepted management practices for projects similarly situated, Lender may deliver written notice thereof to Borrower and Agent, which notice shall specify with particularity the grounds for Lender’s determination. If Lender reasonably determines that the conditions specified in Lender’s notice are not remedied to Lender’s reasonable satisfaction by Borrower or Agent within thirty (30) days from the date of such notice or that Borrower or Agent have failed to diligently undertake correcting such conditions within such thirty (30) day period, Lender may direct Borrower to terminate the Management Agreement and to replace Agent with a manager approved by Lender on terms and conditions reasonably satisfactory to Lender, it being understood and agreed that the management fee for such replacement manager shall not exceed then prevailing market rates.

Manager Termination Event means a determination by Lender, made in the exercise of Lender's reasonable good faith discretion, that replacing Manager with a replacement manager is likely to result in a positive affect on the value of the Property. If Lender fails to determine that a Manager Termination Event exists, then Lender (together with any successor or any purchaser at foreclosure) shall be deemed to waive any right to terminate the Management Agreement as a result of an Event of Default.

Manager Termination Event shall have the meaning set forth in Section 12(t) of this Agreement.