Common use of Competing Properties Clause in Contracts

Competing Properties. Owner and each Property Owner may own, invest in, develop, operate, manage and/or lease properties which compete with the Properties and Manager shall have no interest in such competing properties and this Agreement shall not apply to any such competing properties. Manager hereby covenants and agrees that so long as this Agreement remains in force, Manager will not become manager and/or leasing agent for any other office or industrial properties that is a Competing Opportunity (as defined in the Company LLC Agreement), unless MN Retail or its Affiliates have failed to accept a ROFO Opportunity (as defined in the Company LLC Agreement) with respect to such Competing Opportunity in accordance with the terms and conditions of the Company LLC Agreement. Manager covenants and agrees that it will not solicit any tenant to relocate to any other property which Manager or any Affiliate of Manager directly or indirectly owns, leases, manages or otherwise possesses an interest. Owner and Property Owners acknowledge and agree that interests of SRT or its Affiliates with respect to the Ensenada Square Property shall not be deemed a violation of this subsection (j).

Competing Properties. Owner and each Property Owner may own, invest in, develop, operate, manage and/or lease properties which compete with the Properties and Manager shall have no interest in such competing properties and this Agreement shall not apply to any such competing properties. Manager hereby covenants and agrees that so long as this Agreement remains in force, Manager will not become manager and/or leasing agent for any other office or industrial properties that is a Competing Opportunity (as defined in the Company LLC Agreement), unless MN Retail GAP or its Affiliates have failed to accept a ROFO Opportunity (as defined in the Company LLC Agreement) with respect to such Competing Opportunity in accordance with the terms and conditions of the Company LLC Agreement. Manager covenants and agrees that it will not solicit any tenant to relocate to any other property which Manager or any Affiliate of Manager directly or indirectly owns, leases, manages or otherwise possesses an interest. Owner and Property Owners acknowledge and agree that interests of SRT or its Affiliates with respect to the Ensenada Square Property shall not be deemed a violation of this subsection (j).