Common use of Assignment; Change in Control Clause in Contracts

Assignment; Change in Control. 6.1 This Agreement shall be unassignable by either party and can be changed only by a writing signed by the parties hereto, provided, however, that Owner shall have the right to assign this Agreement in the event a bona fide sale by Owner of the Premises and such assignment shall not constitute a breach of this paragraph 6.1, however, in the event of such an assignment, the term of this Agreement shall expire ninety (90) days after the sale, unless Property Manager consents to the assignment in writing, in which event the expiration date of the term of this Agreement shall remain as provided in Article V. No services to be performed by Property Manager under this Agreement shall be delegated by Property Manager to any other person or firm without the prior written consent of Owner, provided that Property Manager may engage independent subcontractors, at no additional cost to Owner (except as provided in Section 2.1 hereof) and at Property Manager's sole risk, without such consent, to provide incidental services usually performed by independent contractors under good property management practices customary in the locale of the Premises. Subject to Owner's direction, Property Manager will cooperate with lawyers or consultants, pursuant to contracts in the name of the Owner, to perform real estate tax appeals, property audits and its other standard services required in connection with the operating of the Premises. 6.2 Notwithstanding the foregoing, Property Manager may, upon thirty (30) days prior written notice to Owner, assign this Agreement to an affiliate provided that the affiliate is the successor to all or substantially all of Property Manager's management and leasing business; provided, however, that Owner shall retain its right to cancel this Agreement upon thirty (30) days' written notice, in accordance with the terms of Article V.

Appears in 2 contracts

Samples: Real Estate Management and Leasing Agreement (Cornerstone Properties Inc), Real Estate Management and Leasing Agreement (Cornerstone Properties Inc)

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Assignment; Change in Control. 6.1 This Agreement shall be unassignable by either party and can be changed only by a writing signed by the parties hereto, provided, however, that Owner shall have the right to assign this Agreement in the event a bona fide sale by Owner of the Premises and such assignment shall not constitute a breach of this paragraph 6.1, however, in the event of such an assignment, the term of this Agreement shall expire ninety (90) days after the sale, unless Property Manager consents to the assignment in writing, in which event the expiration date of the term of this Agreement shall remain as provided in Article V. No services to be performed by Property Manager under this Agreement shall be delegated by Property Manager to any other person or firm without the prior written consent of Owner, provided that Property Manager may engage independent subcontractors, at no additional cost to Owner (except as provided in Section 2.1 hereof) hereto and at Property Manager's sole risk, without such consent, to provide incidental services usually performed by independent contractors under good property management practices customary in the locale of the Premises. Subject to Owner's direction, Property Manager will cooperate with lawyers or consultants, pursuant to contracts in the name of the Owner, to perform real estate tax appeals, property audits and its other standard services required in connection with the operating of the Premises. 6.2 Notwithstanding the foregoing, Property Manager may, upon thirty (30) days prior written notice to Owner, assign this Agreement to an affiliate provided that the affiliate is the successor to all or substantially all of Property Manager's management and leasing business; provided, however, that Owner shall retain its right to cancel this Agreement upon thirty (30) days' written notice, in accordance with the terms of Article V.

Appears in 1 contract

Samples: Real Estate Management and Leasing Agreement (Cornerstone Properties Inc)

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Assignment; Change in Control. 6.1 This Agreement shall be unassignable by either party and can be changed only by a writing signed by the parties hereto, provided, however, that Owner shall have the right to assign this Agreement in the event of a bona fide sale by Owner of the Premises and such assignment assignment, shall not constitute a breach of this paragraph 6.1, however, in the event of such an assignment, assignment the term of this Agreement shall expire ninety (90) days after the date of sale, unless Property Manager consents to the assignment in writing, in which event the expiration date of the term of this Agreement agreement shall remain as provided in Article V. No Nor shall any of the services to be performed by Property Manager under this Agreement shall be delegated by Property Manager to any other person or firm without the prior written consent of Owner, provided that Property Manager may engage independent subcontractors, at no additional cost to Owner (except as provided in Section 2.1 hereof) and at Property Manager's sole risk, without such consent, to provide incidental services usually performed by independent contractors under good property management practices customary in the locale of the Premises. Subject to Owner's direction, Property Manager will cooperate with lawyers or consultants, pursuant to contracts in the name of the Owner, to perform real estate tax appeals, property audits and its other standard services required in connection with the operating of the Premises. 6.2 Notwithstanding the foregoing, Property Manager may, upon thirty (30) days prior written notice to Owner, assign this Agreement to an affiliate provided that the affiliate is the successor to all or substantially all of Property Manager's management and leasing business; provided, however, that Owner shall retain its right to cancel this Agreement upon thirty (30) days' written notice, in accordance with the terms of Article V..

Appears in 1 contract

Samples: Real Estate Management and Leasing Agreement (Cornerstone Properties Inc)

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