Common use of Execution of Contracts Clause in Contracts

Execution of Contracts. Property Manager, in its capacity as manager of the Properties, shall deal at arm’s-length with all third parties. Property Manager shall, in the name of or as agent for an Owner, enter into such contracts and other agreements for utilities and other services either required or deemed as desirable by Property Manager in connection with the operation of the Property owned by such Owner, provided that all such contracts and orders shall be subject to the limitations set forth in each Approved Budget or as otherwise approved or directed by the relevant Owner. Property Manager shall order, in the name of an Owner, such equipment, tools, appliances, materials and supplies as it deems desirable to properly maintain each Property. If requested by the contracting third party or Property Manager, each Owner shall execute such contract in its own name and by its own hand. Property Manager shall use commercially reasonable efforts to secure for, and credit to, the relevant Owner any discounts, commissions or rebates obtainable as a result of such contracts or orders; provided, however, that the relevant Owner shall be required to cause to be made available to Property Manager such sums of money as are required in order to enable Property Manager to obtain such discounts. All such contracts shall be terminable by Property Manager or the relevant Owner without cause on no more than ninety (90) days’ notice, other than as specifically provided in the relevant Approved Budget or as otherwise approved or directed by an Owner. Property Manager shall not incur obligations or grant rights on behalf of an Owner to any person or entity in which Property Manager has a material financial or other interest or with which Property Manager is affiliated unless the price of or fee therefor is not higher than that which would have been charged as a result of bona fide arm’s-length negotiation for goods or services of comparable quality and Property Manager delivers to the applicable Owner prior notice of such transactions.

Execution of Contracts. Property Manager, in its capacity as manager of the Properties, shall deal at arm’s-length with all third parties. Property Manager shall, in the name of or as agent for an Owner, enter into such contracts and other agreements for utilities and other services either required or deemed as desirable by Property Manager in connection with the operation of the Property owned by such Owner, provided that all such contracts and orders shall be subject to the limitations set forth in each Approved Budget or as otherwise approved or directed by the relevant Owner. Property Manager shall order, in the name of an Owner, such equipment, tools, appliances, materials and supplies as it deems desirable to properly maintain each Property. If requested by the contracting third party or Property Manager, each Owner shall execute such contract in its own name and by its own hand. Property Manager shall use commercially reasonable efforts to secure for, and credit to, the relevant Owner any discounts, commissions or rebates obtainable as a result of such contracts or orders; provided, however, that the relevant Owner shall be required to cause to be made available to Property Manager such sums of money as are required in order to enable Property Manager to obtain such discounts. All such contracts shall be terminable by Property Manager or the relevant Owner without cause on no more than ninety (90) days’ notice, other than as specifically provided in the relevant Approved Budget or as otherwise approved or directed by an Owner. Property Manager shall not incur obligations or grant rights on behalf of an Owner to any person or entity in which Confidential Treatment Requested by Retail Value Inc. RVI-44. Pursuant to 17 C.F.R. Section 200.83. Property Manager has a material financial or other interest or with which Property Manager is affiliated unless the price of or fee therefor is not higher than that which would have been charged as a result of bona fide arm’s-length negotiation for goods or services of comparable quality and Property Manager delivers to the applicable Owner prior notice of such transactions.

Execution of Contracts. Property Manager, in its capacity as manager of the Properties, shall deal at arm’s-length with all third parties. Property Manager shall, in the name of or as agent for an Owner, enter into such contracts and other agreements for utilities and other services either required or deemed as desirable by Property Manager in connection with the operation of the Property owned by such Owner, provided that all such contracts and orders shall be subject to the limitations set forth in each Approved Budget or as otherwise approved or directed by the relevant Owner. Property Manager shall order, in the name of an Owner, such equipment, tools, appliances, materials and supplies as it deems desirable to properly maintain each Property. If requested by the contracting third party or Property Manager, each Owner shall execute such contract in its own name and by its own hand. Property Manager shall use commercially reasonable efforts to secure for, and credit to, the relevant Owner any discounts, commissions or rebates obtainable as a result of such contracts or orders; provided, however, that the relevant Owner shall be required to cause to be made available to Property Manager such sums of money as are required in order to enable Property Manager to obtain such discounts. All such contracts shall be terminable by Property Manager or the relevant Owner without cause on no more than ninety (90) days’ notice, other than as specifically provided in the relevant Approved Budget or as otherwise approved or directed by an Owner. Property Manager shall not incur obligations or grant rights on behalf of an Owner to any person or entity in which Confidential Treatment Requested by Retail Value Inc. RVI-98. Pursuant to 17 C.F.R. Section 200.83. Property Manager has a material financial or other interest or with which Property Manager is affiliated unless the price of or fee therefor is not higher than that which would have been charged as a result of bona fide arm’s-length negotiation for goods or services of comparable quality and Property Manager delivers to the applicable Owner prior notice of such transactions.

Execution of Contracts. Property Manager, in its capacity as manager of the Properties, shall deal at arm’s-length with all third parties. Property Manager shall, in the name of or as agent for an Owner, enter into such contracts and other agreements for utilities and other services either required or deemed as desirable by Property Manager in connection with the operation of the Property owned by such Owner, provided that all such contracts and orders shall be subject to the limitations set forth in each Approved Budget or as otherwise approved or directed by the relevant Owner. Property Manager shall order, in the name of an Owner, such equipment, tools, appliances, materials and supplies as it deems desirable to properly maintain each Property. If requested by the contracting third party or Property Manager, each Owner shall execute such contract in its own name and by its own hand. Property Manager shall use commercially reasonable efforts to secure for, and credit to, the relevant Owner any discounts, commissions or rebates obtainable as a result of such contracts or orders; provided, however, that the relevant Owner shall be required to cause to be made available to Property Manager such sums of money as are required in order to enable Property Manager to obtain such discounts. All such contracts shall be terminable by Property Manager or the relevant Owner without cause on no more than ninety (90) days’ notice, other than as specifically provided in the relevant Approved Budget or as otherwise approved or directed by an Owner. Property Manager shall not incur obligations or grant rights on behalf of an Owner to any person or entity in which Confidential Treatment Requested by Retail Value Inc. RVI-71. Pursuant to 17 C.F.R. Section 200.83. Property Manager has a material financial or other interest or with which Property Manager is affiliated unless the price of or fee therefor is not higher than that which would have been charged as a result of bona fide arm’s-length negotiation for goods or services of comparable quality and Property Manager delivers to the applicable Owner prior notice of such transactions.