Common use of Management of the Property Clause in Contracts

Management of the Property. Upon obtaining possession of the Property or upon the appointment of a receiver as described in Section 7.5 (Taking Possession or Control), Beneficiary, the Trustees or the receiver, as the case may be, may, at their sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, (c) receive all Rents, and (d) complete the construction of any unfinished Improvements on the Property and, in connection therewith, continue any and all outstanding contracts for the erection and completion of such Improvements and make and enter into any further contracts which may be necessary, either in their or its own name (the cost of completing the Improvements shall be Expenses secured by this Deed of Trust and accrue interest as set forth in Section 4.19 (Reimbursement; Interest)). In so doing, Beneficiary, the Trustees or such receiver shall have the right to manage the Property and to carry on the business of Grantor and may exercise all of the rights and powers of Grantor, including, but without limiting the generality of the foregoing, the right to lease the Property, to cancel, modify, renew or extend any Lease or sub-lease of the Property and to carry on any contracts entered into by Grantor with respect to the Property. Beneficiary, the Trustees or such receiver shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except for willful misconduct. Any Rents received shall be applied (a) first, to pay all Expenses, and (b) the balance, if any, to payment of the other Obligations. Grantor shall pay on demand to Beneficiary, the receiver or the Trustees (as the case may be) the amount of any deficiency between (a) the Rents received by Beneficiary, the receiver or the Trustees, and (b) all Expenses incurred together with interest thereon at the Reimbursement Rate as provided in Section 4.19 (Reimbursement; Interest). The exercise of the remedies provided in this Section shall not cure or waive any Event of Default, and the enforcement of such remedies, once commenced, shall continue for so long as Beneficiary shall elect, notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event of Default.

Management of the Property. Upon obtaining possession of the Property or upon the appointment of a receiver as described in Section 7.5 (Taking Possession or Control)7.03, the Beneficiary, the Trustees or the receiver, as the case may be, may, at their sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, (c) receive all Rents, and (d) complete the construction of any unfinished Improvements on the Property and, in connection therewith, continue any and all outstanding contracts for the erection and completion of such Improvements and make and enter into any further contracts which may be necessary, either in their or its own name or in the name of any Grantor (the cost of completing the Improvements shall be Expenses secured by this Deed of Trust and accrue interest as set forth in Section 4.19 (Reimbursement; Interest)4.17). In so doing, the Beneficiary, the Trustees or such receiver shall have the right to manage the Property and to carry on the business of Grantor and may exercise all of the rights and powers of each Grantor with respect to the Property, either in the name of each Grantor, or otherwise, including, but without limiting the generality of the foregoing, the right to lease the Property, to cancel, modify, renew or extend any Lease or sub-lease of the Property and to carry on any contracts entered into by any Grantor with respect to the Property. The Beneficiary, the Trustees or such receiver shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except for gross negligence or willful misconduct. Any Rents received shall be applied (a) first, to pay all Expenses, and (b) the balance, if any, to payment of the other Obligations. Grantor The Grantors shall pay on demand to the Beneficiary, the receiver or the Trustees (as the case may be) the amount of any deficiency between (a) the Rents received by the Beneficiary, the receiver or the Trustees, and (b) all Expenses incurred together with interest thereon at the Reimbursement Rate as provided in Section 4.19 (Reimbursement; Interest)4.17. The exercise of the remedies provided in this Section shall not cure or waive any Event of Default, and the enforcement of such remedies, once commenced, shall continue for so long as the Beneficiary shall elect, notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event of Default.

Management of the Property. Upon obtaining possession Between the Effective Date of this Agreement and the Closing Date: (i) Sellers shall cause the Property to be operated, maintained and managed in a manner consistent with the present management of the Property; (ii) Sellers shall not enter into or amend any contract or agreement (except for renewals of expiring Service Contracts that are terminable without cost upon prior notice of thirty (30) days or less) that would remain binding on the owner of the Property after the Closing without the prior written consent of Buyer, which consent shall not be unreasonably withheld or delayed; provided that no consent shall be required for any contract that is terminable without cost upon prior notice of thirty (30) days or less; provided further, however, that Buyer may withhold its consent in its sole and absolute discretion to any new contract or agreement or amendment thereto that would remain binding on the appointment owner of a receiver as described in Section 7.5 (Taking Possession or Control), Beneficiary, the Trustees or Property after the receiver, as the case may be, may, at their sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, (c) receive all Rents, Closing; and (diii) complete the construction of any unfinished Improvements on the Property and, in connection therewith, continue any and all outstanding contracts for the erection and completion of such Improvements and make and Sellers shall not enter into any further contracts renewal, amendment or expansion of the Occupancy Lease or any new leases without the prior written consent of Buyer, which consent Buyer may be necessary, either withhold in their or its own name (the cost of completing the Improvements sole and absolute discretion and which consent shall be Expenses secured deemed to have been withheld if Buyer fails to disapprove any renewal, amendment or expansion of the Occupancy Lease or any new lease submitted to it by this Deed Sellers during such time period within five (5) Business Days after Buyer’s receipt thereof. On or prior to the Closing, Seller shall give notices to cancel each of Trust and accrue interest as set forth the Service Contracts listed in Section 4.19 a written notice delivered to Seller by Buyer no later than two (Reimbursement; Interest))2) Business Days prior to the Closing Date. In so doing, Beneficiary, the Trustees Buyer acknowledges that some or such receiver shall have the right to manage the Property and to carry on the business of Grantor and may exercise all of the rights and powers of Grantor, including, but without limiting the generality Service Contracts in effect as of the foregoingEffective Date of this Agreement may require not less than thirty (30) days advance notice of cancellation, the right to lease the Propertyand therefore, to cancel, modify, renew some or extend any Lease or sub-lease all of the Property requested Service Contracts may remain effective following the Closing Date, in which case: (i) Seller shall assign such Service Contracts to Buyer at Closing; and to carry on any contracts entered into by Grantor with respect to the Property. Beneficiary, the Trustees or such receiver (ii) Buyer shall be responsible for all payments required to be made under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except Service Contracts for willful misconduct. Any Rents received shall be applied (a) first, to pay all Expenses, the period from the Closing Date through and (b) including the balance, if any, to payment of the other Obligations. Grantor shall pay date on demand to Beneficiary, the receiver or the Trustees (as the case may be) the amount of any deficiency between (a) the Rents received by Beneficiary, the receiver or the Trustees, and (b) all Expenses incurred together with interest thereon at the Reimbursement Rate as provided in Section 4.19 (Reimbursement; Interest). The exercise of the remedies provided in this Section shall not cure or waive any Event of Default, and the enforcement of which such remedies, once commenced, shall continue for so long as Beneficiary shall elect, notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event of DefaultService Contracts terminate.

Management of the Property. Upon obtaining possession of The Tenant hereby acknowledges to the Landlord that the Property or upon may be managed by any party other than the appointment of a receiver as described in Section 7.5 (Taking Possession or Control), Beneficiary, the Trustees or the receiverLandlord, as the case Landlord from time to time may bein writing designate and, mayto all intents and purposes, any manager so designated shall be the party at their sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, (c) receive all Rents, and (d) complete the construction of any unfinished Improvements on the Property and, authorized to deal with the Tenant. All payments to Landlord in connection therewith, continue any and all outstanding contracts for the erection and completion virtue of such Improvements and make and enter into any further contracts which may be necessary, either in their or its own name (the cost of completing the Improvements this Lease shall be Expenses secured made by this Deed of Trust and accrue interest as set forth cheque payable to the Landlord in Section 4.19 (Reimbursement; Interest))full unless otherwise specified in writing by Landlord to Tenant. In so doing, Beneficiary, the Trustees or such receiver The Landlord shall have the right to manage amend and/or rescind the Property rules and regulations in Schedule "E" from time to time and to carry on make any other reasonable rules and regulations not contrary to the business spirit and intent of Grantor this Lease as, in its discretion, may from time to time be needful for the safety, care, cleanliness and may exercise all of the rights and powers of Grantor, including, but without limiting the generality of the foregoing, the right to lease the Property, to cancel, modify, renew or extend any Lease or sub-lease proper administration of the Property and to carry on any contracts entered into by Grantor with respect to including the Property. Beneficiary, the Trustees or such receiver shall be under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except for willful misconduct. Any Rents received shall be applied (a) first, to pay all ExpensesLeased Premises, and (b) for the balance, if any, to payment preservation of the other Obligations. Grantor shall pay on demand to Beneficiary, the receiver or the Trustees (as the case may be) the amount of any deficiency between (a) the Rents received by Beneficiary, the receiver or the Trustees, and (b) all Expenses incurred together with interest thereon at the Reimbursement Rate as provided in Section 4.19 (Reimbursement; Interest). The exercise of the remedies provided in this Section shall not cure or waive any Event of Defaultgood order therein, and the enforcement same shall be observed and performed by the Tenant and by its customers, and all such rules and regulations now or hereafter to be established by the Landlord as herein provided shall form part of this Lease as if recited at length herein and any such remediesnew rules and regulations shall be binding upon Tenant upon written notification from Landlord. Furthermore, once commencedin the event that Tenant does not comply with the rules and regulations, Landlord shall continue for so long have the right, without notice, to enter the Leased Premises and execute any work necessary to rectify Tenant's noncompliance, the cost of which shall immediately, upon Landlord's request, be payable by Tenant as Beneficiary shall elect, notwithstanding the fact Additional Rental. It is agreed and understood that the exercise terms and conditions of such remedies may have, for a time, cured this Lease shall prevail over any of the original Event terms of Defaultthe rules and regulations.

Management of the Property. Upon obtaining possession Between the Effective Date of this Agreement and the Closing Date: (i) Sellers shall cause the Property to be operated, maintained and managed in a manner consistent with the present management of the Property; (ii) Sellers shall not enter into or amend any contract or agreement (except for renewals of expiring Service Contracts that are terminable without cost upon prior notice of thirty (30) days or less) that would remain binding on the owner of the Property after the Closing without the prior written consent of Buyer, which consent shall not be unreasonably withheld or delayed; provided that no consent shall be required for any contract that is terminable without cost upon prior notice of thirty (30) days or less; provided further, however, that Buyer may withhold its consent in its sole and absolute discretion to any new contract or agreement or amendment thereto that would remain binding on the appointment owner of a receiver as described in Section 7.5 (Taking Possession or Control), Beneficiary, the Trustees or Property after the receiver, as the case may be, may, at their sole option, (a) make all necessary or proper repairs and Additions to or upon the Property, (b) operate, maintain, control, make secure and preserve the Property, (c) receive all Rents, Closing; and (diii) complete the construction of any unfinished Improvements on the Property and, in connection therewith, continue any and all outstanding contracts for the erection and completion of such Improvements and make and Sellers shall not enter into any further contracts Additional Occupancy Leases or any renewals, amendments or expansions of the Occupancy Leases without the prior written consent of Buyer, which consent Buyer may be necessary, either withhold in their or its own name (the cost of completing the Improvements sole and absolute discretion and which consent shall be Expenses secured deemed to have been withheld if Buyer fails to disapprove any renewal, amendment or expansion of any Occupancy Lease or any Additional Occupancy Lease submitted to it by this Deed Sellers during such time period within five (5) Business Days after Buyer’s receipt thereof. On or prior to the Closing, Seller shall give notices to cancel each of Trust and accrue interest as set forth the Service Contracts listed in Section 4.19 a written notice delivered to Seller by Buyer no later than two (Reimbursement; Interest))2) Business Days prior to the Closing Date. In so doing, Beneficiary, the Trustees Buyer acknowledges that some or such receiver shall have the right to manage the Property and to carry on the business of Grantor and may exercise all of the rights and powers of Grantor, including, but without limiting the generality Service Contracts in effect as of the foregoingEffective Date of this Agreement may require not less than thirty (30) days advance notice of cancellation, the right to lease the Propertyand therefore, to cancel, modify, renew some or extend any Lease or sub-lease all of the Property requested Service Contracts may remain effective following the Closing Date, in which case: (i) Seller shall assign such Service Contracts to Buyer at Closing; and to carry on any contracts entered into by Grantor with respect to the Property. Beneficiary, the Trustees or such receiver (ii) Buyer shall be responsible for all payments required to be made under no liability for, or by reason of, any such taking of possession, entry, holding, removal, maintaining, operation or management, except Service Contracts for willful misconduct. Any Rents received shall be applied (a) first, to pay all Expenses, the period from the Closing Date through and (b) including the balance, if any, to payment of the other Obligations. Grantor shall pay date on demand to Beneficiary, the receiver or the Trustees (as the case may be) the amount of any deficiency between (a) the Rents received by Beneficiary, the receiver or the Trustees, and (b) all Expenses incurred together with interest thereon at the Reimbursement Rate as provided in Section 4.19 (Reimbursement; Interest). The exercise of the remedies provided in this Section shall not cure or waive any Event of Default, and the enforcement of which such remedies, once commenced, shall continue for so long as Beneficiary shall elect, notwithstanding the fact that the exercise of such remedies may have, for a time, cured the original Event of DefaultService Contracts terminate.