Manager definition
Examples of Manager in a sentence
As compensation for its servicing, administrative and management activities hereunder and reimbursement for its expenses, the Collateral Manager or its designee shall be entitled to receive the Senior Collateral Manager Fee and reimbursement of its expenses pursuant to the provisions of Section 2.7 and Section 2.8, as applicable.
If the Trust Fund acquires any Foreclosed Property, the Special Servicer, acting on behalf of the Trustee, if the Manager would not be considered an Independent Contractor, shall either renegotiate the applicable Management Agreement or replace the Manager with a Successor Manager (as appropriate and to the extent permitted under such Management Agreement) so that the Foreclosed Property would be considered to be operated by an Independent Contractor.
In no event shall the Repurchasing Seller transfer, sell, assign, hypothecate, participate or encumber its Loan Percentage Interest to any Borrower Affiliate, any Manager, any Restricted Holder or any Affiliate of any of the foregoing, and any purported transfer that violates this sentence shall be void ab initio unless the portion of the Whole Loan remaining in the Trust is also being transferred, sold, assigned, hypothecated, participated or encumbered to any such Person.
The Collateral Manager has complied with all Applicable Law to which it may be subject, and no item of Collateral contravenes any Applicable Law in each case, except for instances of non-compliance or contravention that could not reasonably be expected to have a Material Adverse Effect.
No Borrower Affiliate, Manager or any of their respective agents and affiliates may be appointed as or act as the Directing Certificateholder.