Common use of Causes for Removal Clause in Contracts

Causes for Removal. WPHC shall have the right to remove ▇▇▇▇ as the Manager and as a Member ("Removal") and substitute WPHC as Manager or appoint a new Manager upon any of the following (a "Removal Event"): 12.12.1.1 If the Initial Closing has not occurred by May 2, 1996; 12.12.1.2 If the Construction Loan Closing has not occurred by 37 the Construction Loan Closing Outside Date; 12.12.1.3 Delays in construction not caused by Force Majeure which result in the Project falling behind schedule by six (6) months or more based on the Construction Schedule approved by the parties prior to the Construction Loan Closing, or delays in construction, whether or not caused by Force Majeure which cause WPHC to reasonably conclude that the Project will not or cannot be completed by the Outside Date; 12.12.1.4 The Project having incurred Development Deficits in excess of $250,000 which have not been funded by Development Deficit Payments from ▇▇▇▇ within thirty (30) days of notice from WPHC requiring such funding; 12.12.1.5 The Project having incurred any Operating Deficits which have not been funded by Operating Deficit Payments from ▇▇▇▇ within thirty (30) days of notice from WPHC requiring such funding; 12.12.1.6 The death or disability of ▇▇▇▇; 12.12.1.7 If the Final Closing has not occurred by the Outside Date; 12.12.1.8 If ▇▇▇▇ shall be in Material Default ▇▇▇▇ under this Agreement, and such Material Default is not cured within thirty (30) days after written notice thereof from WPHC or, if such Material Default cannot be cured within such 30-day period, ▇▇▇▇ does not commence within such thirty (30) days and diligently proceed to cure such breach and actually completes such cure in any event within ninety (90) days after such notice; or 12.12.1.9 If any breach or default under the Construction Loan, which is not caused solely by the act or omission of WPHC, is not cured within any applicable cure period provided for under the Construction Loan.

Causes for Removal. WPHC shall have the right to remove ▇▇▇▇ as the Manager and as a Member ("Removal") and substitute WPHC as Manager or appoint a new Manager upon any of the following (a "Removal Event"): 12.12.1.1 If the Initial Closing has not occurred by May 215, 19961995; 12.12.1.2 If the Construction Loan Closing has not occurred by 37 the Construction Loan Closing Outside Date; 12.12.1.3 Delays in construction not caused by Force Majeure which result in the Project falling behind schedule by six (6) months or more based on the Construction Schedule approved by the parties prior to the Construction Loan Closing, or delays in construction, whether or not caused by Force Majeure which cause WPHC to reasonably conclude that the Project will not or cannot be completed by the Outside Date; 12.12.1.4 The Project having incurred Development Deficits in excess of $250,000 which have not been funded by Development Deficit Payments from ▇▇▇▇ within thirty (30) days of notice from WPHC requiring such funding; 12.12.1.5 The Project having incurred any Operating Deficits which have not been funded by Operating Deficit Payments from ▇▇▇▇ within thirty (30) days of notice from WPHC requiring such funding; 12.12.1.6 The death or disability of ▇▇▇▇; 12.12.1.7 If the Final Closing has not occurred by the Outside Date; 12.12.1.8 If ▇▇▇▇ shall be in Material Default ▇▇▇▇ under this Agreement, and such Material Default is not cured within thirty (30) days after written notice thereof from WPHC or, if such Material Default cannot be cured within such 30-day period, ▇▇▇▇ does not commence within such thirty (30) days and diligently proceed to cure such breach and actually completes such cure in any event within ninety (90) days after such notice; or 12.12.1.9 If any breach or default under the Construction Loan, which is not caused solely by the act or omission of WPHC, Loan is not cured within any applicable cure period provided for under the Construction Loan.

Causes for Removal. WPHC shall have the right to remove ▇▇▇▇ Feld as the Manager and as a Member ("Removal") and substitute WPHC as ▇▇ Manager or appoint a new Manager upon any of the following (a "Removal Event"): 12.12.1.1 If the Initial Closing has not occurred by May 2, 1996; 12.12.1.2 If the Construction Loan Closing has not occurred by 37 the Construction Loan Closing Outside Date; 12.12.1.3 Delays in construction not caused by Force Majeure which result in the Project falling behind schedule by six (6) months or more based on the Construction Schedule approved by the parties prior to the Construction Loan Closing, or delays in construction, whether or not caused by Force Majeure which cause WPHC to reasonably conclude that the Project will not or cannot be completed by the Outside Date; 12.12.1.4 The Project having incurred Development Deficits in excess of $250,000 which have not been funded by Development Deficit Payments from ▇▇▇▇ Feld within thirty (30) days of notice from WPHC requiring such fundingfun▇▇▇▇; 12.12.1.5 The Project having incurred any Operating Deficits which have not been funded by Operating Deficit Payments from ▇▇▇▇ Feld within thirty (30) days of notice from WPHC requiring such fundingfun▇▇▇▇; 12.12.1.6 The death or disability of ▇▇▇▇Feld; 12.12.1.7 If the Final Closing has not occurred by occurr▇▇ ▇y the Outside Date; 12.12.1.8 If ▇▇▇▇ Feld shall be in Material Default ▇▇▇▇ Feld under this Agreement, and such Material su▇▇ ▇aterial Default is not cured within w▇▇▇▇n thirty (30) days after written notice thereof from WPHC or, if such Material Default cannot be cured within such 30-day period, ▇▇▇▇ Feld does not commence within such thirty (30) days and diligently proceed ▇▇▇▇eed to cure such breach and actually completes such cure in any event within ninety (90) days after such notice; or 12.12.1.9 If any breach or default under the Construction Loan, which is not caused solely by the act or omission of WPHC, is not cured within any applicable cure period provided for under the Construction Loan.

Causes for Removal. WPHC shall have the right to remove ▇▇▇▇ Feld as the Manager and as a Member Me▇▇▇▇ ("Removal") and substitute WPHC as Manager or appoint a new Manager upon any of the following (a "Removal Event"): 12.12.1.1 If the Initial Closing has not occurred by May 215, 19961995; 12.12.1.2 If the Construction Loan Closing has not occurred by 37 the Construction Loan Closing Outside Date; 12.12.1.3 Delays in construction not caused by Force Majeure which result in the Project falling behind schedule by six (6) months or more based on the Construction Schedule approved by the parties prior to the Construction Loan Closing, or delays in construction, whether or not caused by Force Majeure which cause WPHC to reasonably conclude that the Project will not or cannot be completed by the Outside Date; 12.12.1.4 The Project having incurred Development Deficits in excess of $250,000 which have not been funded by Development Deficit Payments from ▇▇▇▇ Feld within thirty (30) days of notice ▇▇▇ice from WPHC requiring such funding; 12.12.1.5 The Project having incurred any Operating Deficits which have not been funded by Operating Deficit Payments from ▇▇▇▇ Feld within thirty (30) days of notice ▇▇▇ice from WPHC requiring such funding; 12.12.1.6 The death or disability of ▇▇▇▇Feld; 12.12.1.7 If the Final Fi▇▇▇ Closing has not occurred by the Outside Date; 12.12.1.8 If ▇▇▇▇ Feld shall be in Material Default ▇Defa▇▇▇ Feld under this Agreement, and such ▇▇▇h Material Default is not cured within thirty (30) days after written notice thereof from WPHC or, if such Material Default cannot be cured within such 30-day period, ▇▇▇▇ Feld does not commence within such ▇▇▇h thirty (30) days and diligently proceed to cure such breach and actually completes such cure in any event within ninety (90) days after such notice; or 12.12.1.9 If any breach or default under the Construction Loan, which is not caused solely by the act or omission of WPHC, Loan is not cured within any applicable cure period provided for under the Construction Loan.