Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith: (i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement; (ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and (iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 20 contracts
Sources: Agreement and Plan of Merger (ZAIS Financial Corp.), Management Agreement (ZAIS Financial Corp.), Management Agreement (ZAIS Financial Corp.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated or not renewed pursuant to Section 13(a) or Section 15(b)10, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.
Appears in 12 contracts
Sources: Management Agreement (Anworth Mortgage Asset Corp), Management Agreement (American Capital Mortgage Investment Corp.), Management Agreement (American Capital, LTD)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Trust or a Subsidiary all money collected and held for the account of the Company Trust or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors Trustees a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Trustees with respect to the Company or a Trust and any Subsidiary; and;
(iiic) deliver to the Board of Directors Trustees all property and documents of the Company or Trust and any Subsidiary then in the custody of the Manager.; and
Appears in 8 contracts
Sources: Management Agreement (PennyMac Mortgage Investment Trust), Management Agreement (PennyMac Financial Services, Inc.), Management Agreement (PennyMac Mortgage Investment Trust)
Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 8 contracts
Sources: Management and Advisory Agreement (FTAI Infrastructure Inc.), Management and Advisory Agreement, Management and Advisory Agreement (Drive Shack Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 7 contracts
Sources: Management Agreement (Exantas Capital Corp.), Management Agreement (Resource Capital Corp.), Management Agreement (Resource Capital Corp.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.
Appears in 5 contracts
Sources: Management Agreement (American Realty Capital Properties, Inc.), Merger Agreement (American Realty Capital Trust III, Inc.), Acquisition and Capital Services Agreement and Management Agreement (American Realty Capital Properties, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 14 or 15 Section 16 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a16(b) or Section 15(b16(c), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.
Appears in 4 contracts
Sources: Advisory Agreement, Advisory Agreement (City Office REIT, Inc.), Advisory Agreement (City Office REIT, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, or 13 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated or not renewed, pursuant to Section 13(a) or Section 15(b)11, the applicable Termination Fee. Upon any such termination, the Manager Advisor shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a SubsidiaryCompany; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor and cooperate with the Company on any transition to a new advisor.
Appears in 3 contracts
Sources: Advisory Agreement (Lexington Realty Trust), Advisory Agreement (Lexington Corporate Properties Trust), Advisory Agreement (Lexington Strategic Asset Corp)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a and any Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary then in the custody of the Manager.
Appears in 3 contracts
Sources: Management Agreement (Five Oaks Investment Corp.), Management Agreement (AG Mortgage Investment Trust, Inc.), Management Agreement (AG Mortgage Investment Trust, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections Section 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a and any Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary then in the custody of the Manager.
Appears in 3 contracts
Sources: Management Agreement (Angel Oak Mortgage REIT, Inc.), Management Agreement (Angel Oak Mortgage, Inc.), Management Agreement (Angel Oak Mortgage, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 3 contracts
Sources: Management Agreement (Deerfield Triarc Capital Corp), Management Agreement (CBRE Realty Finance Inc), Management Agreement (CBRE Realty Finance Inc)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 12(a), 12(c) or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a12(a) or Section 15(b14(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Western Asset Mortgage Capital Corp), Management Agreement (Terra Property Trust, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon any such termination, the Manager Advisor shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the ManagerAdvisor.
Appears in 2 contracts
Sources: Advisory Agreement (American Realty Capital Centers, Inc.), Acquisition and Capital Services Agreement (American Realty Capital Properties, Inc.)
Action Upon Termination. From and after the effective date of termination or assignment of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a12(b) or not renewed pursuant to Section 15(b)10, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Western Asset Mortgage Capital Corp), Management Agreement (Western Asset Mortgage Capital Corp)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Silver Bay Realty Trust Corp.), Management Agreement (Silver Bay Realty Trust Corp.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (KKR Financial Holdings LLC), Management Agreement (KKR Financial Corp)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwithpromptly:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and;
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary or prepared by the Manager on behalf of the Company or related to the Company or its assets then in the custody of the Manager; and
(iv) cooperate with any new manager or management team for the Company engaged by the Board of Directors for a reasonable transition period after the termination.
Appears in 2 contracts
Sources: Interim Management Agreement, Interim Management Agreement (Sunset Financial Resources Inc)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.
Appears in 2 contracts
Sources: Investment Advisory Agreement (ZAIS Financial Corp.), Investment Advisory Agreement (ZAIS Financial Corp.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)13, the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Ocwen Asset Investment Corp), Management Agreement (Ocwen Asset Investment Corp)
Action Upon Termination. From and after the effective date of ----------------------- termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)13, the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
(d) if the Company terminates this Management Agreement, the Manager may require the Company, at the Company's expense, to register for public resale shares of Common Stock acquired by the Manager or its affiliates within two (2) years of the termination of the Management Agreement.
Appears in 2 contracts
Sources: Management Agreement (Wilshire Financial Services Group Inc), Management Agreement (Wilshire Real Estate Investment Trust Inc)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager Advisor shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary any of its Subsidiaries all money collected and held for the account of the Company or a Subsidiary any of its Subsidiaries pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryany of its Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary of its Subsidiaries then in the custody of the ManagerAdvisor.
Appears in 2 contracts
Sources: Advisory Agreement (America First Apartment Investors Inc), Advisory Agreement (America First Apartment Investors Inc)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Trust or a Subsidiary all money collected and held for the account of the Company Trust or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors Trustees a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Trustees with respect to the Company or a Trust and any Subsidiary; and
(iiic) deliver to the Board of Directors Trustees all property and documents of the Company or Trust and any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (PennyMac Mortgage Investment Trust), Management Agreement (PennyMac Mortgage Investment Trust)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwithpromptly:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody or control of the Manager, all of which are and shall be the Company’s property.
Appears in 2 contracts
Sources: Management Agreement (Safety, Income & Growth, Inc.), Management Agreement (Safety, Income & Growth, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Invesco Mortgage Capital Inc.), Management Agreement (Invesco Mortgage Capital Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, the Manager Advisor shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager Advisor shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors Company a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors Company with respect to the Company or a SubsidiarySubsidiaries; and
(iii) deliver to the Board of Directors Company all property and documents of the Company or any Subsidiary then in the custody of the ManagerAdvisor.
Appears in 2 contracts
Sources: Advisory Agreement (JMP Group Inc.), Advisory Agreement (New York Mortgage Trust Inc)
Action Upon Termination. From and after the effective date of expiration or termination of this Agreement, Agreement pursuant to Sections 13 10, 11, or 15 12 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated this Agreement is not renewed pursuant to Section 13(a) or Section 15(b)10, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.
Appears in 2 contracts
Sources: Management Agreement (Care Investment Trust Inc.), Management Agreement (Care Investment Trust Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 Section 10, Section 11(a), Section 12, or 15 of this AgreementSection 13, the Manager Advisor shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), plus Incentive Compensation through and including the applicable Termination Feelast day of the month during which the termination of this Agreement occcurred. Upon any such termination, the Manager Advisor shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiaryand any Subsidiaries; and
(iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the ManagerAdvisor.
Appears in 2 contracts
Sources: Advisory Agreement, Advisory Agreement (Global Net Lease, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections Section 13 or Section 15 of this Agreement, the Manager Administrative Agent shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager Administrative Agent shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company A-1 Series or a Subsidiary all money collected and held for the account of the Company A-1 Series or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company A-1 Series or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company A-1 Series or any Subsidiary then in the custody of the ManagerAdministrative Agent.
Appears in 1 contract
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 sections 13, 14 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) section 13 or Section section 15(b), the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Cypress Sharpridge Investments, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections Section 11, 12, 13 or 15 14 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b)the Manager is so entitled in accordance with the terms of this Agreement, the applicable Termination Fee. Upon any such termination, the Manager shall forthwith:
: (ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
; (iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a and any Subsidiary; and
and (iiic) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Angel Oak Mortgage REIT, Inc.)
Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company Company, New Parent or a Subsidiary all money collected and held for the account of the Company or a Subsidiary such entity pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company Company, New Parent or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company Company, New Parent or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management and Advisory Agreement (Fortress Transportation & Infrastructure Investors LLC)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 8(b), 13, 14(a) or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Action Upon Termination. From and after the effective date of termination of this Agreementagreement, pursuant to Sections 13 sections 13, 14 or 15 of this Agreementagreement, the Manager shall not be entitled to compensation for further services under this Agreementagreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) section 13 or Section section 15(b), the applicable Termination Feetermination fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Cypress Sharpridge Investments, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, Agreement pursuant to Sections 13 14 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses Expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Person designated by the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Action Upon Termination. From and after the effective date of (i) any termination of this Agreement, pursuant to Sections 13 Agreement or 15 (ii) any nonrenewal by the Manager of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination and, if terminated by the Company pursuant to Section 13(a) or Section 15(b)10, the applicable Termination Fee. Upon any such terminationevent, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or and any Subsidiaries;
(c) cooperate with the Company in executing an orderly transition of the management of the Company’s assets to a Subsidiarynew manager; and
(iiid) deliver to the Board of Directors all property and documents of the Company or and any Subsidiary Subsidiaries then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (American Capital Mortgage Investment Corp.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14, 15 or 15 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Ladder Capital Realty Finance Inc)
Action Upon Termination. (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b15(c), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
(b) The provisions of this Section 16 shall survive the expiration or earlier termination of this Agreement.
Appears in 1 contract
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 14 or 15 Section 16 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a14(a) or Section 15(b16(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(ia) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iiic) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (PIMCO Mortgage Income Trust Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 14, 15, or 15 of this Agreement16 hereof, the Manager shall not be entitled to compensation for further services under this Agreementhereunder, but shall be paid all compensation accruing to the date of termination andtermination, if terminated pursuant subject to adjustment on an annualized basis in accordance with Section 13(a) or Section 15(b10(d), the applicable Termination Fee. Upon The Manager shall forthwith upon such termination, the Manager shall forthwith:
(ia) Pay over to the Company or any Subsidiary, as applicable, all money collected and held for the account of the Company or any Subsidiary pursuant to this Agreement, after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(iib) deliver Deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a any Subsidiary; and
(iiic) deliver Deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Countrywide Credit Industries Inc)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14 or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Sources: Management Agreement (Cypress Sharpridge Investments, Inc.)
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract
Action Upon Termination. From and after the effective date of termination of this Agreement, pursuant to Sections 13 Section 13, Section 14, or Section 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13(a) or Section 15(b), the applicable Termination Feetermination. Upon such termination, the Manager shall forthwith:
(i) after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;
(ii) deliver to the Board of Directors a full accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and
(iii) deliver to the Board of Directors all property and documents of the Company or any Subsidiary then in the custody of the Manager.
Appears in 1 contract