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

Approval of Leases, Contracts, Etc. In fulfilling its duties to Owner, Manager hereby is authorized to negotiate, on behalf of Owner, leases for any Properties, and to negotiate and enter into any other leases, contracts or agreements on behalf of Owner in the ordinary course of the management, operation, maintenance and leasing of each Property, subject to the requirement that Owner execute all leases for Properties in accordance with Section 2.C.1(b), the limitations set forth above in Section 2.C, any leasing and property management guidelines established by Owner, and the Annual Business Plan set forth in Section 2.E.3 below; provided, however that Manager shall not enter into any lease, contract or agreement on behalf of Owner that would cause a material deviation from the Annual Business Plan. Owner hereby appoints Manager as Owner’s authorized agent for the purposes of executing, as the agent of Owner, all such leases, contracts and agreements. Manager is required to clearly identify itself as Owner’s agent and to inform all third parties with whom Manager is dealing that Manager is acting solely as Owner’s agent with respect to the Properties and is not itself the owner of the Properties. Manager is further required to correct any known misunderstanding with respect to the ownership of the Properties. In addition, Owner agrees to (a) specifically assume in writing all obligations of Owner under all such leases, contracts and agreements entered into by Manager as the agent of Owner upon termination of this Agreement, and (b) indemnify, protect, defend, save and hold harmless Manager and all of the other Manager Indemnified Parties of and from any and all Losses (as defined in Section 5.D below) that may be imposed on any or all of them in connection with or relating to the obligations of Owner under any such leases, contracts or agreements following the termination of this Agreement. If Manager subcontracts any of the obligations required of Manager hereunder, Manager shall cause the subcontract to include provisions which require the subcontractor (a) to a thirty (30) day termination for convenience clause, (b) to clearly identify itself as Owner’s agent and to inform all third parties with whom subcontractor is dealing that it is acting solely as Owner’s agent with respect to the Properties and is not itself the owner of the Properties and (c) to correct any known misunderstanding with respect to the ownership of the Properties; provided, however that Manager shall not enter into an agreement delegating its day to day property management obligations or functions hereunder without Owner’s prior written consent.

Approval of Leases, Contracts, Etc. In fulfilling its duties to Owner, Manager hereby is authorized to negotiate, on behalf of Owner, leases for any Properties, and to negotiate and enter into any other leases, contracts or agreements on behalf of Owner in the ordinary course of the management, operation, maintenance and leasing of each Property, subject to the requirement that Owner execute all leases for Properties in accordance with Section 2.C.1(b), the limitations set forth above in Section 2.C, any leasing and property management guidelines established by Owner, and the Annual Business Plan set forth in Section 2.E.3 below; provided, however that Manager shall not enter into any lease, contract or agreement on behalf of Owner that would cause a material deviation from the Annual Business Plan. Owner hereby appoints Manager as Owner’s authorized agent for the purposes of executing, as the agent of Owner, all such leases, contracts and agreements. Manager is required to clearly identify itself as Owner’s agent and to inform all third parties with whom Manager is dealing that Manager is acting solely as Owner’s agent with respect to the Multi-Tenant Properties and is not itself the owner of the Multi-Tenant Properties. Manager is further required to correct any known misunderstanding with respect to the ownership of the Multi-Tenant Properties. In addition, Owner agrees to (a) specifically assume in writing all obligations of Owner under all such leases, contracts and agreements entered into by Manager as the agent of Owner upon termination of this Agreement, and (b) indemnify, protect, defend, save and hold harmless Manager and all of the other Manager Indemnified Parties of and from any and all Losses (as defined in Section 5.D below) that may be imposed on any or all of them in connection with or relating to the obligations of Owner under any such leases, contracts or agreements following the termination of this Agreement. If Manager subcontracts any of the obligations required of Manager hereunder, Manager shall cause the subcontract to include provisions which require the subcontractor (a) to a thirty (30) day termination for convenience clause, (b) to clearly identify itself as Owner’s agent and to inform all third parties with whom subcontractor is dealing that it is acting solely as Owner’s agent with respect to the Multi-Tenant Properties and is not itself the owner of the Multi-Tenant Properties and (c) to correct any known misunderstanding with respect to the ownership of the Multi-Tenant Properties; provided, however that Manager shall not enter into an agreement delegating its day to day property management obligations or functions hereunder without Owner’s prior written consent.