Manager Termination. Manager shall have the right to terminate this Agreement prior to the end of any Term, by written notice to Company, stipulating the intended date of termination, upon the occurrence of any one of the following events: (i) in the event of a Company Default (defined herein); (ii) any grossly negligent or intentional or willful misconduct by Company; (iii) any Federal enforcement action described in Section 21 against Company; (iv) any change or revocation of State or local law, or any adverse change in the enforcement policies of the Federal government pertaining to the operation of a crowdfunding platform; or (v) Company’s failure to maintain its crowdfunding platform license in good standing resulting in revocation of its Crowdfunding Platform License.
Manager Termination. Concurrently with the Close of Escrow, Manager shall have vacated (or shall have taken all steps reasonably necessary to be prepared to, immediately after the Close of Escrow, vacate) the Property (provided, however, if Purchaser enters into a transition management arrangement with Manager, then Manager’s vacation of the Property shall not be a condition precedent to Seller’s obligation to sell the Property). Seller’s conditions are solely for the benefit of Seller and may be waived only by Seller. Any such waiver or waivers shall be in writing and shall be delivered to Purchaser and Escrow Holder. Seller shall not act or fail to act for the purpose of permitting or causing any of Seller’s conditions to fail. Nothing contained in this Agreement shall require or permit Purchaser or Seller to postpone the Closing Date or to bring any suit or other proceeding or, except as otherwise expressly required by this Agreement, to pay any substantial sum, to satisfy any of Seller’s conditions. Notwithstanding anything to the contrary set forth in this Agreement, in the event that any of the foregoing conditions to Seller’s obligations hereunder are not satisfied by the Close of Escrow, Seller shall have the right (1) in the event such failure of a condition arises as a result of a default of Purchaser, to exercise its rights under Section 16(b) of this Agreement, or (2) in the event such failure of a condition arises for any reason other than a result of a default of Purchaser, either (A) terminate this Agreement, in which event the parties shall not have any obligations to the other except for their obligations that expressly survive a termination of this Agreement, all other rights and obligations of the parties hereunder (except those set forth in this clause (A)) shall terminate immediately, and the Deposit shall be returned to Purchaser; or (B) to irrevocably waive such condition and proceed to Closing.
Manager Termination. Cedar shall have received a termination, in form reasonably satisfactory to Cedar (the "Manager Termination") of the management agreement, dated as of March 24, 1997, entered into with Tower Investments, Inc. ("Existing Property Manager"), duly executed by Existing Property Manager and the Owners to be dated as of the Closing Date.
Manager Termination. If (a) an Event of Default occurs and is continuing, (b) the Manager, Golf Manager or Spa Manager shall become bankrupt or insolvent or (c) a material default occurs under the Management Agreement, the Golf Management Agreement or the Spa Management Agreement beyond any applicable grace and cure periods, Issuers shall, at the request of Servicer on behalf of Trustee, terminate the Management Agreement, the Golf Management Agreement or the Spa Management Agreement and replace the Manager, Golf Manager or Spa Manager with a Qualified Manager, Qualified Golf Manager or Qualified Spa Manager pursuant to a Replacement Management Agreement, Replacement Golf Management Agreement or Replacement Spa Management Agreement, as applicable.
Manager Termination. The Manager may terminate this Contract under Clause 7.0 b, and charge the Owner a termination fee of $200.00, plus costs, if the Manager has already recruited two or more qualified tenants to the Owner’s consideration but none of these prospective tenants are accepted by the Owner.
Manager Termination. Subject to Section 7.4, if any Manager voluntarily terminates his or her employment with Acquisition for any reason or for no reason, the Company may elect, at its option, to repurchase all of the Common Stock owned by such Manager or the Manager Trust of which such Manager is the settlor or beneficiary. The Company's "call" option granted under this Section 7.3 shall be exercised by delivery of the Company Notice to such Manager within three hundred sixty (360) days from the date on which such Manager voluntarily terminated his or her employment with Acquisition. The "call" price of the Common Stock shall be an amount equal to the greater of (i) one-half of the Fair Market Value or (ii) two-thirds of the Cost; provided, however, if the Manager executes a Manager Noncompetition Agreement at the Closing, the "call" price shall be an amount equal to the Fair Market Value. The Closing for the Company's purchase of the shares of Common Stock held by a Manager or Manager Trust pursuant to this Section 7.3 shall occur no later than sixty (60) days following the date of the exercise of the "call" option by the Company.
Manager Termination. For each Property, written evidence of the termination of the existing property management agreement and leasing agreement with respect to such Property (other than, in the case of the OKC Properties, the existing leasing agreement, provided that the New Property Manager shall be solely responsible for all fees, commissions and other amounts to be paid under or with respect to such existing leasing agreement from and after Closing) and the release by the manager and leasing agent under such terminated agreement of all claims against the applicable Property Owner (the “Manager Terminations”).
Manager Termination. Buyer shall have received a termination (the "Manager Termination and Release") of the management agreement entered into with Calarese Development Corporation ("Existing Property Manager") duly xxxxxxxx by Existing Property Manager and Seller to be dated as of the Closing Date. The Manager Termination and Release shall be substantially in the form set forth in Exhibit Q annexed hereto.
Manager Termination. The Manager may terminate this Agreement upon 90 days written notice to the Producer.
Manager Termination. Manager shall have the right to terminate this Agreement prior to the end of any Term, by written notice to Company, stipulating the intended date of termination, upon the occurrence of any one of the following events: (i) in the event of a Company Default (defined herein); (ii) any grossly negligent or intentional or willful misconduct by Company; (iii) any Federal enforcement action described in Section 21 against Company; (iv) any change or revocation of State or local law, or any adverse change in the enforcement policies of the Federal government pertaining to the grow or cultivation of recreational or medicinal cannabis which shall have the effect of prohibiting the legal operation of the Grow Facilities; (v) Company’s failure to maintain its Grow License in good standing resulting in revocation of its Grow License.
