Common use of Covenants of Manager Clause in Contracts

Covenants of Manager. Until such time as all of the Senior Obligations shall have been fully paid, discharged and satisfied: (a) Manager will (i) promptly perform and observe in all respects all of the covenants and agreements to be performed and observed by it under the Management Agreement in accordance with the terms thereof, and (ii) promptly notify Lender of any material default under the Management Agreement of which it becomes aware; (b) Manager will not (i) reduce or permit the reduction of the term of the Management Agreement, (ii) increase or permit the increase of the amount of any fees payable under the Management Agreement, or (iii) otherwise modify any portion of the Management Agreement, orally or by a writing, in such a manner as to materially reduce or limit Manager's obligations thereunder; and (c) Manager shall, within twenty (20) days after demand by Lender, deliver to Lender a written statement certifying any condition or state of facts in connection with the Management Agreement which is reasonably requested by Lender.