Certain Owner Approvals Sample Clauses
The 'Certain Owner Approvals' clause defines specific decisions or actions that require the explicit consent of the property owner before proceeding. In practice, this clause typically applies to significant matters such as major alterations to the property, entering into substantial contracts, or incurring large expenses, ensuring that the owner retains control over key aspects of property management. Its core function is to protect the owner's interests by preventing unauthorized or unilateral decisions that could impact the value or use of the property.
Certain Owner Approvals. Notwithstanding any provisions of this Agreement (including, without limitation, Section 4.1 hereof), but without limiting the other restrictions on Developer’s authority contained herein, Developer shall not take any action, expend any sum, make any decision, give any consent, approval or authorization, enter into any agreement or incur any obligation with respect to any of the following matters unless and until the same have been approved in writing by Owner (which approvals Owner shall grant or withhold within five (5) Business Days after receipt of a written request, provided that if the Construction Lender’s consent or approval is required therefor under the loan documents for the Construction Loan, then such five (5) Business Day period shall be tolled until the Construction Lender’s consent or approval, as the case may be, is granted):
(a) Entering into any construction or architectural contracts or any contract with any Specialists or Consultants or any amendments to such contracts, or taking any action or giving any notice, the taking or giving of which will (i) result in the release or discharge of any party to any such contract or (ii) consent to any other party to any contract to assign or otherwise transfer its rights or obligations thereunder.
(b) Subject to Section 3.2.3(b) of this Agreement, authorizing or approving any proposed change in the Plans and Specifications as previously approved by Owner.
(c) Entering into or amending any agreement or other arrangement for the furnishing to Owner of goods or services for the Development Work, to the extent Owner’s obligation under such agreement or arrangement (as so amended) exceeds amounts provided for in the Development Budget plus the amount of any funds Developer is obliged to provide through Mandatory Developer Cost Overrun Loans.
(d) Commence, settle or otherwise compromise any litigation for or on behalf of Owner.
(e) Except as expressly provided in this Agreement, commit or otherwise obligate Owner in any manner with any party, including, without limitation, any governmental authority, utility company, lender, tenant, Specialist or Consultant, Contractor or Architect.
Certain Owner Approvals. Notwithstanding any provisions of this Agreement (including, without limitation, Section 4.1 hereof), but without limiting the other restrictions on Manager’s authority contained herein, Manager shall not take any action, expend any sum, make any decision, give any consent, approval or authorization, enter into any agreement or incur any obligation with respect to any of the following matters unless and until the same have been approved in writing by Owner:
(a) Entering into any contract with any Specialists or Consultants or any other contract related to, or in connection with, the Project, or any amendments to such contracts, or taking any action, omitting to take action or giving any notice, the taking, omission or giving of which will (i) result in the reduction, release or discharge of any party to any such contract, or (ii) consent to any other party to any contract to assign or otherwise transfer its rights or obligations thereunder.
(b) Authorizing the preparation of any architectural plans, specifications and drawings prior to the construction of the Project.
(c) Authorizing or approving any proposed change in construction or in the Plans and Specifications therefor as previously approved by Owner or in the cost thereof, or any other change which would affect design, cost, value or quality.
(d) Commence, settle or otherwise compromise any litigation for or on behalf of Owner. 17008166.6
(e) Commit or otherwise obligate Owner in any manner with any party including, without limitation, any governmental authority, utility company, lender, Specialist or Consultant, Construction Contractor or Architect.