Common use of Building Management Clause in Contracts

Building Management. (a) During any period during the Term (each such period, a “Landlord Management Period”) that is not a Tenant Management Period, Landlord, subject to and in accordance with the provisions of Section 3.6(b) hereof, shall appoint a property management company (each, a “Landlord Appointed Property Manager”) to manage the Property. During any period during the Term that is a Tenant Management Period, Tenant, subject to and in accordance with the provisions of Section 3.6(c) hereof, shall itself be the property manager of the Property. The term “Property Manager” shall mean (i) during any Landlord Management Period, the Landlord Appointed Property Manager and (ii) during any Tenant Management Period, Tenant.

Appears in 3 contracts

Samples: Lease (KBS Real Estate Investment Trust, Inc.), Lease (KBS Real Estate Investment Trust, Inc.), Lease (KBS Real Estate Investment Trust, Inc.)

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Building Management. (a) During any period during the Term (each such period, a “Landlord Management Period”) that is not a Tenant Management Period, Landlord, subject to and in accordance with the provisions of Section 3.6(b) hereof, shall appoint a property management company (each, a “Landlord Appointed Property Manager”) to manage the Property. During any period during the Term that is a Tenant Management Period, Tenant, subject to and in accordance with the provisions of Section 3.6(c) hereof, shall itself be the property manager of the Property. The term "Property Manager" shall mean (i) during any Landlord Management Period, the Landlord Appointed Property Manager and (ii) during any Tenant Management Period, Tenant.

Appears in 1 contract

Samples: Lease Agreement (Gramercy Capital Corp)

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