Common use of Without Cause Termination Clause in Contracts

Without Cause Termination. This PMA may be terminated in writing only by giving the Manager no less than 60 days’ notice. If Owner terminates this PMA “without cause” (meaning, Manager has not materially1 breached the PMA): (Check one) Manager shall hold Owner liable for any compensation due herein if any tenant (procured pursuant to this PMA) remains in the property after such termination; OR Owner shall pay Manager a Voluntary Cancellation Fee of $500.00 per leased-executed property, which shall be deemed liquidated damages and is a reasonable estimation of damages that are unknown and unascertainable at this time. At time of termination, any and all costs owed to Manager shall become immediately payable to Manager. (WHICHEVER OPTION IS GREATER)

Without Cause Termination. This PMA may be terminated in writing only by giving the Manager no less than 60 days’ written notice. If Owner terminates this PMA “without cause” (meaning, Manager has not materially1 breached the PMA): not (Check one1) Manager shall hold Owner liable for any compensation due herein if any tenant (procured pursuant to this PMA) remains in the property after such termination; OR or (2) Owner shall pay Manager a Voluntary Cancellation Fee of $500.00 per leased-executed propertyproperty under an existing lease managed by Manager for Owner, which shall be deemed liquidated damages and is a reasonable estimation of damages that are unknown and unascertainable at this timetime (WHICHEVER IS GREATER). At Additionally, at the time of termination, any and all costs owed to Manager shall become immediately payable to Manager. (WHICHEVER OPTION IS GREATER).