New Project Agreements Sample Clauses

New Project Agreements. Negotiate and prepare, for the approval of and execution by Owner, all agreements as Development Manager recommends that Owner execute (or are designated by Owner) in connection with any Wholly-Owned Project. Development Manager shall consult with Owner as to the terms of any such agreement that Development Manager is negotiating as reasonably necessary (and as requested by Owner) with the goal of minimizing any re-negotiation. Notwithstanding the foregoing or anything to the contrary contained in this Agreement, Development Manager is hereby authorized without Owner’s approval to execute such agreements on Owner’s behalf as Development Manager shall deem appropriate in the ordinary course of Development Manager performing its duties under this Agreement, so long as a copy of such agreement is promptly delivered to Owner and such agreements (a) are bona fide, unrelated third party contracts consistent with the Project Budget that comply with all Requirements, (b) do not, in the aggregate with respect to any one such agreement, result in the Owner making or agreeing to make expenditures of more than $100,000, (c) do not, in the aggregate with respect to all such agreements for any individual Wholly-Owned Project, result in the Owner making or agreeing to make expenditures of more than $500,000 and (d) do not have a term in excess of twelve (12) months. Notwithstanding the foregoing, attached hereto as Schedule “4.2.8” is a list of some of the Contractors which have performed work on one or more Projects and which Development Manager may decide to engage for future phases of a Project, and Development Manager shall be permitted to engage the Contractors listed on such schedule without the prior written consent of Owner, provided that Owner shall have the right to approve the agreement with any such Contractor pursuant to this Section 4.2.8. Development Manager also may engage Contractors other than those listed on Schedule “4.2.8” attached hereto in connection with the Projects, provided that Development Manager obtains Owner’s prior written consent prior to engaging such Contractor, such consent not to be unreasonably withheld, conditioned or delayed.