Common use of Collection of Moneys; Enforcement of Rights Clause in Contracts

Collection of Moneys; Enforcement of Rights. The Property Manager will use diligent, commercially reasonable efforts to collect all rent and other payments due from tenants in the Properties and any other sums due the Owner Subsidiaries regarding the Properties. To the extent tenant leases affecting any Property so require, the Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants. The Property Manager will promptly and diligently enforce the Owner Subsidiaries’ rights under any tenant leases affecting any Property, including without limitation taking the following actions where appropriate, in accordance with the procedures specified in the Property Manager’s property management handbook in effect as of the date hereof: (i) terminating tenancies, (ii) instituting and prosecuting actions, and evicting tenants, (iii) settling, compromising and releasing such actions or suits or re-instituting such tenancies, (iv) recovering rents and other sums due by legal proceedings in a court of general jurisdiction, (v) signing and serving such notices as are deemed necessary by the Property Manager, and (vi) recovering rents and other sums due by legal proceedings in a magistrates court or similar jurisdiction; in each case, the Property Manager shall promptly notify the Company of such action in writing. If authorized by the Company, the Property Manager shall consult an attorney for the purpose of enforcing an Owner Subsidiary’s rights or taking any such actions and the Company shall have the right to designate counsel for any matter and to control all litigation affecting or arising out of the operation of any Property. The Property Manager shall keep the Company informed of any dissatisfaction with the law firm or such services or the reasonableness of the cost thereof.

Collection of Moneys; Enforcement of Rights. The Property Manager will use diligent, commercially reasonable efforts to collect all rent and other payments due from tenants in the Properties Property and any other sums due the Owner Subsidiaries Company regarding the PropertiesProperty. To the extent tenant leases affecting any Property so require, the Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants. The Property Manager will promptly and diligently enforce the Owner Subsidiaries’ Company’s rights under any tenant leases affecting any Property, including without limitation taking the following actions where appropriate, in accordance with the procedures specified in the Property Manager’s property management handbook in effect as of the date hereof: (i) terminating tenancies, (ii) instituting and prosecuting actions, and evicting tenants, (iii) settling, compromising and releasing such actions or suits or re-instituting such tenancies, (iv) recovering rents and other sums due by legal proceedings in a court of general jurisdiction, (v) signing and serving such notices as are deemed necessary by the Property Manager, and (vi) recovering rents and other sums due by legal proceedings in a magistrates magistrate’s court or similar jurisdiction; in each case, the Property Manager shall promptly notify the Company of such action in writing. If authorized by the Company, the Property Manager shall consult an attorney for the purpose of enforcing an Owner Subsidiarythe Company’s rights or taking any such actions and the Company shall have the right to designate counsel for any matter and to control all litigation affecting or arising out of the operation of any Property. The Property Manager shall keep the Company informed of any dissatisfaction with the law firm or such services or the reasonableness of the cost thereof.

Collection of Moneys; Enforcement of Rights. The Property Manager will use diligent, commercially reasonable efforts to collect all rent and other payments due from tenants in the Properties and any other sums due the Owner Subsidiaries regarding the Properties. To the extent tenant leases affecting any Property so require, the Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-throughs” and consumer price index adjustments and, where required, shall give timely notice thereof to tenants. The Property Manager will promptly and diligently enforce the Owner Subsidiaries’ rights under any tenant leases affecting any Property, including without limitation taking the following actions where appropriate, in accordance with the procedures specified in the Property Manager’s property management handbook in effect as of the date hereof: (i) terminating tenancies, (ii) instituting and prosecuting actions, and evicting tenants, (iii) settling, compromising and releasing such actions or suits or re-instituting such tenancies, (iv) recovering rents and other sums due by legal proceedings in a court of general jurisdiction, (v) signing and serving such notices as are deemed necessary by the Property Manager, and (vi) recovering rents and other sums due by legal proceedings in a magistrates magistrate’s court or similar jurisdiction; in each case, the Property Manager shall promptly notify the Company of such action in writing. If authorized by the Company, the Property Manager shall consult an attorney for the purpose of enforcing an Owner Subsidiary’s rights or taking any such actions and the Company shall have the right to designate counsel for any matter and to control all litigation affecting or arising out of the operation of any Property. The Property Manager shall keep the Company informed of any dissatisfaction with the law firm or such services or the reasonableness of the cost thereof.

Collection of Moneys; Enforcement of Rights. The Property Manager will use diligent, commercially reasonable efforts to collect all rent and other payments due from tenants in the Properties in accordance with the tenant's lease agreement and any other sums due the Owner Subsidiaries regarding the Properties. To the extent tenant leases affecting any Property the Properties so require, the Property Manager shall timely make or verify any calculations that are required to determine the amount of rent due from tenants, including without limitation calculating percentage rent, operating expense “pass-"pass throughs” " and consumer price index adjustments and, where required, shall give timely notice thereof to tenants. The Upon Owner's request, all rents and other income from the Properties shall be delivered to a lock box at the financial institution approved by Owner for the Operating Account (hereinafter defined). Manager shall notify and advise each tenant of the Properties under each lease with respect to a Property (whether such lease is presently effective or executed after the date hereof), to send directly to the lock box promptly when due all payments, whether in the form of checks, cash, drafts, money orders or any other type of payment whatsoever of rent or any other item payable to Owner. With the prior consent of Owner, which Owner shall use its reasonable efforts to give within ten (10) days after the request for approval, and at Owner's expense (including for attorney's fees), Manager will promptly and diligently enforce the Owner Subsidiaries’ Owner's rights under any tenant leases affecting any Propertythe Properties, including without limitation taking the following actions where appropriate, in accordance with the procedures specified in the Property Manager’s property management handbook in effect as of the date hereof: (i) terminating tenancies, (ii) signing and serving such notices as are deemed necessary by Manager, (iii) instituting and prosecuting actions, and evicting tenants, (iiiiv) recovering rents and other sums due by legal proceedings, and (v) settling, compromising and releasing such actions or suits or re-instituting such tenancies, (iv) recovering rents and other sums due by legal proceedings in a court of general jurisdiction, (v) signing and serving such notices as are deemed necessary by the Property Manager, and (vi) recovering rents and other sums due by legal proceedings in a magistrates court or similar jurisdiction; in each case, the Property Manager shall promptly notify the Company of such action in writing. If authorized by the CompanyOwner, the Property Manager shall consult an owner-designated attorney for the purpose of enforcing an Owner Subsidiary’s Owner's rights or taking any such actions and the Company Owner shall have the right to designate counsel for any matter and to control all litigation affecting or arising out of the operation of any Propertythe Properties. The Property Manager shall keep the Company Owner informed of any dissatisfaction with the law firm or such services or the reasonableness of the cost thereof. Manager shall not write-off any income items without the prior written approval of Owner. Manager shall submit its recommendation for write-offs in writing to Owner, together with sufficient documentation to allow Owner to make a prudent business decision regarding such write-off.