Property Manager definition
Examples of Property Manager in a sentence
Prior to its admission as a Manager of any Company Series, any Replacement Manager shall (i) acquire the Interests held by the departing Manager in such Series, if any, for fair market value and in cash immediately payable on the Transfer of such Interests, and (ii) appoint a replacement Property Manager on the same terms and conditions set forth herein and contained within the property management agreement.
For the avoidance of doubt, if the Manager is removed as Manager of the Company it shall also cease to be Manager and Property Manager of each and every Company Series.
If the Manager of a Company Series and the Property Manager of a Series shall be the same Person or controlled Affiliates, then the Manager’s appointment as Property Manager of such Series shall concurrently automatically terminate with the Manager’s removal.