Common use of Leasing Efforts Clause in Contracts

Leasing Efforts. (a) Agent will use reasonable efforts to lease space in the Property to desirable tenants upon terms and conditions reasonably acceptable to Owner. Owner will refer to Agent all offers or inquiries which are received by Owner with respect to leasing space in the Property. (b) The services to be performed by Agent as leasing agent shall include, but shall not be limited to, the following: (i) Agent shall procure tenants for the Property and shall be responsible for the leasing of space and the renewal, extension and expansion of existing leases in the Property upon such terms and conditions as are specified by Owner; the conduct of all negotiations related thereto (subject to Owner's direction); and if requested by Owner arranging for the -21- C/M: 11764.0009 434116.1 preparation of leases and other documents in form satisfactory to Owner and approved by Owner and its counsel (which shall be retained by and at the expense of Owner), including tending to the execution of such leases by tenants and delivery of such leases; provided, however, that Agent shall not have any lease executed without securing the prior written consent of Owner (which consent shall be in Owner's sole and absolute discretion). Agent shall not have the right to cancel, amend or accept the surrender of any lease or to consent to a sublease or assignment of a lease, except with the written consent of Owner. Agent shall use reasonable diligence to obtain and submit to Owner credit reports and other financial statements pertaining to prospective tenants to the extent available. (ii) Agent shall acquire and maintain a thorough knowledge of the leasing market for space similar to that contained in the Property, prepare a leasing and marketing plan for the Property (which will include, without limitation, analysis of the Property's leasing activity, market absorption and projected leasing activities) and recommend pricing and marketing strategies for Owner's consideration. (c) Agent represents that it is a licensed real estate broker and all of its employees required to be licensed real estate brokers are so licensed and will remain so during the term of this Agreement.

Leasing Efforts. (a) Agent will use reasonable efforts to lease space in the Property to desirable tenants upon terms and conditions reasonably acceptable to Owner. Owner will refer to Agent all offers or inquiries which are received by Owner with respect to leasing space in the Property. (b) The services to be performed by Agent as leasing agent shall include, but shall not be limited to, the following: (i) Agent shall procure tenants for the Property and shall be responsible for the leasing of space and the renewal, extension and expansion of existing leases in the Property upon such terms and conditions as are specified by Owner; the conduct of all negotiations related thereto (subject to Owner's direction); and if requested by Owner arranging for the -21- C/M: 11764.0009 434116.1 preparation of leases and other documents in form satisfactory to Owner and approved by Owner and its counsel (which shall be retained by and at the expense of Owner), including tending to the execution of such leases by tenants and delivery of such leases; provided, however, that Agent shall not have any lease executed without securing the prior written consent of Owner (which consent shall be in Owner's sole and absolute discretion). Agent shall not have the right to cancel, amend or accept the surrender of any lease or to consent to a sublease or assignment of a lease, except with the written consent of Owner. Agent shall use reasonable diligence to obtain and submit to Owner credit reports and other financial statements pertaining to prospective tenants to the extent available. (ii) Agent shall acquire and maintain a thorough knowledge of the leasing market for space similar to that contained in the Property, prepare a leasing and marketing plan for the Property (which will include, without limitation, analysis of the Property's leasing activity, market absorption and projected leasing activities) and recommend pricing and marketing strategies for Owner's consideration. (c) Agent represents that it is a licensed real estate broker and all of its employees required to be licensed real estate brokers are so licensed and will remain so during the term of this Agreement.