Change of Management of Properties. Neither the Issuer nor the General Partner will change the management of the Properties, except that (a) any Affiliate of the Issuer or the General Partner shall be permitted to manage any of the Properties and (b) the Issuer, the General Partner or any of their Subsidiaries may engage and/or replace third-party property managers with respect to any Property, provided that the aggregate book value of all Properties at any one time under third-party management shall not exceed 30% of the aggregate book value of all of the Properties at such time.
Appears in 4 contracts
Samples: Note and Guaranty Agreement (First Industrial Lp), Note and Guaranty Agreement (First Industrial Lp), Note and Guaranty Agreement (First Industrial Lp)
