Common use of Competing Activities of Property Manager Clause in Contracts

Competing Activities of Property Manager. Anything contained herein to the contrary notwithstanding, Owners hereby agree that, during the term of this Agreement, Property Manager, DDR or any Affiliate of DDR, may render services identical or similar to those required of Property Manager hereunder to other owners of real property, improved in a similar fashion to the Properties or otherwise, and may themselves engage in the acquisition, development, leasing and exploitation of real property for their own account and benefit or for others and without any accountability or liability whatsoever to Owners even though such services or business activities compete with or are enhanced by the business activity of Owners, including Owners’ involvement in the Properties. Property Manager will not contract with any Affiliate of Property Manager to perform any additional services under this Agreement which are outside the scope of Property Manager’s duties under this Agreement unless such additional services are at market rates and are contemplated by the relevant Approved Budget. In exercising its rights and performing its obligations under this Agreement, each party shall act in good faith and deal fairly with the other. Each party shall conduct itself in a commercially reasonable manner in the administration of this Agreement.