Common use of Management Termination Clause in Contracts

Management Termination. In the event that there shall have occurred and be continuing an Event of Default and the Debt has been accelerated, then, upon Lender's request, Borrower shall replace the present Manager with a managing agent approved by Lender in its sole discretion. Section 4.14

Appears in 1 contract

Sources: Loan Agreement (Mark Centers Trust)

Management Termination. In the event that there shall have occurred and be continuing an Event of Default and the Debt has been acceleratedDefault, then, upon Lender's request, Borrower shall replace the present Manager with a managing agent approved by Lender in its sole discretion. Section 4.14.

Appears in 1 contract

Sources: Loan Agreement (Tower Realty Trust Inc)

Management Termination. In the event that there shall have occurred and be continuing an Event of Default and the Debt has been acceleratedDefault, then, upon Lender's request, Borrower shall be required to promptly replace the present Manager with a managing agent approved by Lender in its sole discretion. Section 4.14

Appears in 1 contract

Sources: Loan Agreement (KSL Recreation Group Inc)