Common use of Approval of Leases, Contracts, Etc Clause in Contracts

Approval of Leases, Contracts, Etc. Manager shall not approve the execution of or otherwise enter into or bind Owner with respect to Leases or any contract or agreement without the prior consent of Owner; provided that without such consent, except to the extent required under Section 2.3(e), Manager may enter into any contracts or agreements (excluding Leases of space in the Properties) on behalf of Owner in the ordinary course of the management, operation and maintenance of the Properties for the obtaining of utility, maintenance or other services to the Properties; and further provided that without such consent, Manager may enter into any contracts or agreements on behalf of Owner, in the case of casualty, breakdown in machinery or other similar emergency, if in the opinion of Manager emergency action or immediate approval for the commencement of repairs is necessary to prevent additional damage or greater total expenditure or to protect the Properties from damage or prevent default on the part of Owner under any of the Leases, in which event such action taken shall be taken concurrently with prompt notice to Owner.

Appears in 10 contracts

Samples: Management Agreement (Industrial Logistics Realty Trust Inc.), Management Agreement (Logistics Property Trust Inc.), Management Agreement (Logistics Property Trust Inc.)

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Approval of Leases, Contracts, Etc. Manager shall not approve the ---------------------------------- execution of or otherwise enter into or bind Owner with respect to Leases leases or any contract or agreement without the prior consent of Owner; provided that without such consent, except to the extent required under Section 2.3(e), Manager may enter into any contracts or agreements (excluding Leases of space in the Partnership Properties) on behalf of Owner in the ordinary course of the management, operation and maintenance of the Partnership Properties for the obtaining of utility, maintenance or other services to the Propertiestenant; and further provided that without such consent, Manager may enter into any contracts or agreements on behalf of Owner, in the case of casualty, breakdown in machinery or other similar emergency, if in the opinion of Manager emergency action or immediate approval for the commencement of repairs is necessary to prevent additional damage or greater total expenditure or to protect the Partnership Properties from damage or prevent default on the part of Owner under any of the Leases, in which event such action taken shall be taken concurrently with prompt notice to Owner.

Appears in 3 contracts

Samples: Management Agreement (Wells Real Estate Fd Xii L P & Wells Real Estate Fd Xiii Lp), Management Agreement (Wells Real Estate Fund Xiii L P), Management Agreement (Wells Real Estate Fd Xii L P & Wells Real Estate Fd Xiii Lp)

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Approval of Leases, Contracts, Etc. Manager shall not approve the ----------------------------------- execution of or otherwise enter into or bind Owner with respect to Leases leases or any contract or agreement without the prior consent of Owner; provided that without such consent, except to the extent required under Section 2.3(e), Manager may enter into any contracts or agreements (excluding Leases of space in the PropertiesOwner) on behalf of Owner in the ordinary course of the management, operation and maintenance of the Properties Owner for the obtaining of utility, maintenance or other services to the Propertiestenant; and further provided that without such consent, Manager may enter into any contracts or agreements on behalf of Owner, in the case of casualty, breakdown in machinery or other similar emergency, if in the opinion of Manager emergency action or immediate approval for the commencement of repairs is necessary to prevent additional damage or greater total expenditure or to protect the Properties Owner from damage or prevent default on the part of Owner under any of the Leases, in which event such action taken shall be taken concurrently with prompt notice to Owner.

Appears in 2 contracts

Samples: Management Agreement (Wells Real Eastate Investment Trust Inc), Management Agreement (Wells Real Estate Investment Trust Inc)

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