Manager’s Control. Subject to the terms and conditions of this Agreement, Manager shall have day-to-day responsibility for the operation of the Property. Manager shall, with the prior approval of Owner (which shall not be unreasonably withheld or delayed) determine, (a) rental rates and related concessions, and (b) charges to tenants for other Property services and for the use of the Property for all customary purposes. Manager shall, with Owner's supervision, determine (x) the terms of security at the Property, (y) policies relating to credit, and (z) all phases of publicity and promotion related to the Property. Notwithstanding the foregoing, Manager shall not decrease the minimum rental rates below, or increase the maximum tenant improvements allowance and other concessions above, the amounts which are specifically delineated therefor in the then adopted Annual Leasing Plan (as defined in Section 1(a)(xii) below) without first obtaining Owner's written consent thereto. Owner and Manager agree that, upon request from the other party, each promptly will deliver to the other, as the case may be, copies of all leases and amendments and modifications thereto and extensions, renewals and terminations thereof that may affect the Property from time to time.
Appears in 2 contracts
Sources: Management and Leasing Agreement (Prime Group Realty Trust), Contribution Agreement (Prime Group Realty Trust)