Definition of Pre-Approved Manager Conditions

  1. Pre-Approved Manager Conditions means that (i) the Manager is Current Manager or a Pre-Approved Manager, (ii) the Management Agreement contains the cash management provisions of Section 4.02 and Article 8 of the Management Agreement (as modified as among Manager, Lender and Borrower by the Manager Consent), or, in Lender's reasonable discretion, provisions substantially similar thereto, (iii) in the case of any replacement Manager, such entity is a Pre-Approved Manager and shall have executed and delivered to Lender a new Assignment of Management Agreement and Deposit Account Control Agreement, as well as satisfied the other conditions to the replacement of Manager set forth in Section 4.34 hereof.

Definition of Pre-Approved Manager Conditions in Loan Agreement

Pre-Approved Manager Conditions means that (i) the Manager is Current Manager or a Pre-Approved Manager, (ii) the Management Agreement contains the cash management provisions of Section 4.02 and Article 8 of the Management Agreement (as modified as among Manager, Lender and Borrower by the Manager Consent), or, in Lender's reasonable discretion, provisions substantially similar thereto, (iii) in the case of any replacement Manager, such entity is a Pre-Approved Manager and shall have executed and delivered to Lender a new Assignment of Management Agreement and Deposit Account Control Agreement, as well as satisfied the other conditions to the replacement of Manager set forth in Section 4.34 hereof.