Common use of Appointment of PECO Clause in Contracts

Appointment of PECO. (a) Owner hereby engages and retains PECO as the sole and exclusive manager of each Property for which a Property Addendum is executed with respect to the property management function to perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (b) Owner hereby engages and retains PECO as the sole and exclusive leasing agent for the leasing of all space in each Property for which a Property Addendum is executed with respect to the leasing agent function as well as for obtaining ground leases on any outparcels. PECO shall perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (c) Owner hereby engages and retains PECO as the sole and exclusive construction manager of each Property for which a Property Addendum is executed with respect to the construction management function to perform such functions as are specified herein and/or on the Property Addendum related to such Property. PECO hereby accepts such appointment. (d) PECO shall act under this Agreement as an independent contractor and not as the Owner’s agent or employee. PECO shall not have the right, power or authority to enter into agreements or incur liability on behalf of the Owner except as expressly set forth herein or in a Property Addendum. Any action taken by PECO which is not expressly permitted by this Agreement shall not bind the Owner.

Appointment of PECO. (a) Owner hereby engages and retains PECO as the sole and exclusive manager of each Property for which a Property Addendum is executed with respect to the property management function to perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (b) Owner hereby engages and retains PECO as the sole and exclusive leasing agent for the leasing of all space in each Property for which a Property Addendum is executed with respect to the leasing agent function as well as for obtaining ground leases on any outparcels. PECO shall perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (c) Owner hereby engages and retains PECO as the sole and exclusive construction manager of each Property for which a Property Addendum is executed with respect to the construction management function to perform such functions as are specified herein and/or on the Property Addendum related to such Property. PECO hereby accepts such appointment. . (d) PECO shall act under this Agreement as an independent contractor and not as the Owner’s agent or employee. PECO shall not have the right, power or authority to enter into agreements or incur liability on behalf of the Owner except as expressly set forth herein or in a Property Addendum. Any action taken by PECO which is not expressly permitted by this Agreement shall not bind the Owner.

Appointment of PECO. (a) Subject to the terms and conditions hereof and the terms and conditions of the Operating Agreement, Owner hereby engages and retains PECO as the sole and exclusive property manager of each Property for which a Property Addendum is executed with respect to the property management function to perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointmentappointment and agrees to operate and manage the Properties, and to perform its other duties hereunder, all in accordance with the standards set forth in Section 3 hereof. (b) Subject to the terms and conditions hereof and the terms and conditions of the Operating Agreement, Owner hereby engages and retains PECO as the sole and exclusive leasing agent for the leasing of all space in each Property for which a Property Addendum is executed with respect to the leasing agent function for the leasing of all space in each such Property as well as for obtaining ground leases on any outparcels. PECO shall perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (c) Subject to the terms and conditions hereof and the terms and conditions of the Operating Agreement, Owner hereby engages and retains PECO as the sole and exclusive construction manager of each Property for which a Property Addendum is executed with respect to the construction management function to perform such functions as are specified herein and/or on the Property Addendum related to each such Property. PECO hereby accepts such appointment. (d) PECO shall act under this Agreement as an independent contractor and not as the Owner’s agent agent, employee or employeefiduciary. PECO shall not have the right, power or authority to enter into agreements or incur liability on behalf of the Owner except as expressly set forth herein or in a Property Addendum. Without limitation on the foregoing, PECO shall not take any action hereunder which is a Major Decision (as defined in the Operating Agreement) without first obtaining the prior consent of Investor Member (as defined in the Operating Agreement). Any action taken by PECO which is not expressly permitted by this Agreement shall not bind the Owner. (e) Prior to the commencement of the term of this Agreement, PECO has informed itself with respect to the layout, construction, location, character, plan and all other aspects of the Properties. Copies of guarantees and warranties pertinent to the equipment of the Properties and in force at the time of execution of this Agreement have been furnished by Owner to PECO, who has reviewed them and will remain familiar with their requirements and expiration dates and will be responsible for their safekeeping. PECO will further be similarly responsible for the safekeeping of copies of construction plans and "as-built" drawings, if any, furnished to it by Owner.