Common use of CONTRACTS AND LEASING Clause in Contracts

CONTRACTS AND LEASING. No contract out of the ordinary course of business for or on behalf of or affecting H'TOWN or the Project shall be negotiated or entered into which is in excess of $10,000.00 or cannot be terminated on 30 days' or less notice unless Buyer shall have approved same, which approval will not be unreasonably withheld. Any and all new Leases and renewals other than those renewals of existing Leases (the terms of which are contained in the Leases provided to Buyer as part of the Property Materials) entered into from and after the Effective Date shall be subject to Buyer's prior approval, which approval shall not be unreasonably withheld or delayed (and shall be deemed given if written objection is not made within eight (8) business days after receipt). All of such Leases and renewals shall be in the ordinary course of H'TOWN's business and shall be for a use which is consistent with the present operations of the Project. Notwithstanding anything to the contrary in this Amendment, H'TOWN may modify Leases during the Investigation Period in order to resolve any issues that may have arisen with tenants thereunder with respect to most favored nation and other provisions of such Leases that may permit the tenants thereunder to pay reduced rental charges. Such modifications may be made, however, if, but only if, either (i) there is negligible adverse impact on Net Operating Income or (ii) Buyer has consented thereto, such consent not to be unreasonably ithheld. Copies of all Leases and modifications entered into by H'TOWN after the Effective Date shall be delivered to Buyer promptly after complete execution thereof. All leasing commissions, including leasing commissions to third party brokers, and tenant improvement allowances for Leases entered into after the Effective Date and prior to closing in accordance with the provisions of this Section 10.2 shall be paid by Selling Parties prior to closing hereunder (except for tenant improvement allowances not then payable which shall be credited to Buyer and escrowed as provided in Section 9.1.Q), and neither Seller nor any affiliate of Seller shall be entitled to any leasing commissions as to such Leases under the Management Agreement. H'TOWN will not enter into any new personal property leasing or financing arrangements on or after the Effective Date except in the ordinary course of business where impact on Net Operating Income is negligible.

CONTRACTS AND LEASING. No After the expiration of the Investigation Period (and provided WELP has not terminated this Agreement) no contract out of the o▇ ▇▇e ordinary course of business for or on behalf of or affecting H'TOWN Dearborn Center or the Project shall be negotiated or entered into which is in excess of $10,000.00 or cannot be terminated on 30 days' or less notice unless Buyer WELP shall have approved same, which approval will not be unreasonably withheld. Any and all new Leases and renewals other than those renewals of existing Leases (the terms of which are contained in the Leases provided to Buyer as part of the Property Materials) entered into from and after the Effective Date shall be subject to Buyer's prior approval, which approval shall not be unreasonably ▇▇reasonably withheld or delayed (and shall be deemed given if written objection is not made within eight five (8) 5) business days after receiptreceipt of a request for such approval). After the expiration of the Investigation Period (and provided WELP has not terminated this Agreement) any and all n▇▇ Leases and renewals other than those renewals of Existing Leases (the terms of which are contained in the Existing Leases provided to WELP as part of the Property Materials) entered into fro▇ ▇▇d after the Effective Date shall be subject to WELP's prior approval, which approval shall not be unreasona▇▇▇ withheld or delayed (and shall be deemed given if written objection is not made within five (5) business days after receipt of a request for such approval). All of such Leases and renewals shall be in the ordinary course of H'TOWNDearborn Center's business and shall be for a use which is consistent with the present operations of the Project. Notwithstanding anything to the contrary in this Amendment, H'TOWN may modify Leases during the Investigation Period in order to resolve any issues that may have arisen with tenants thereunder with respect to most favored nation and other provisions of such Leases that may permit the tenants thereunder to pay reduced rental charges. Such modifications may be made, however, if, but only if, either (i) there is negligible adverse impact on Net Operating Income or (ii) Buyer has consented thereto, such consent not to be unreasonably ithheld. Copies of all Leases and modifications entered into by H'TOWN Dearborn Center after the Effective Date shall be delivered to Buyer WELP promptly after complete execution thereof. In additio▇, ▇earborn Center will advise and consult with WELP regarding any new Leases or material modifications of any Existing Leases or new contracts which are in excess of $10,000 which Dearborn Center intends to enter into after the Effective Date and prior to the expiration of the Investigation Period, provided that WELP shall have no approval rights over such matter▇. All leasing commissions, including leasing commissions to third party brokers, and tenant improvement costs and allowances for Leases entered into after the Effective Date and prior to closing Closing in accordance with the provisions of this Section 10.2 shall be paid by Selling Parties prior out of the $22,500,000.00 reserve referred to closing hereunder (except for tenant improvement allowances not then payable which shall be credited to Buyer and escrowed as provided in Section 9.1.Q), 1.2. After the expiration of the Investigation Period (and neither Seller nor any affiliate of Seller shall be entitled to any leasing commissions as to such Leases under the Management provided WELP has not terminated this Agreement. H'TOWN ) Dearborn Cent▇▇ will not enter into any new personal property leasing or financing arrangements on without obtaining WELP's prior written approval which will not be unreaso▇▇▇▇▇ withheld or delayed (and shall be deemed given if written objection is not made within five (5) business days after the Effective Date except in the ordinary course receipt of business where impact on Net Operating Income is negligiblea request for such approval).