Common use of Contracts and Supplies Clause in Contracts

Contracts and Supplies. Property Manager shall, at Owner’s expense, at the lowest cost as in its judgment is consistent with good quality, workmanship and service standards, enter into contracts in its own name as agent for Owner for the furnishing to the Project of required utility services, heating and air-conditioning services and other maintenance, pest control, and any other services and concessions which are reasonably required in connection with the maintenance and operation of the Project; provided, however, (i) that any contracts entered into by Property Manager, whenever practicable, shall be terminable at Property Manager’s or Owner’s sole discretion within 30 days by written notice unless Property Manager receives the prior written consent of Owner to the contrary, (ii) if the amount payable monthly or for any given month pursuant to such contract exceeds $10,000, Property Manager shall obtain Owner’s written approval thereof prior to entering into such contract (such approval shall be deemed granted if not disapproved in writing by Owner within five (5) days of Property Manager’s request for approval) and (iii) if the contract is with an affiliate the relationship must be disclosed to the Owner and the terms must be as favorable as those that would be obtained if the transaction were at arm’s length. Each of such contracts shall state that Property Manager is acting as a special limited agent of Owner having only the express powers that are delegated and authorized pursuant to this Agreement. When taking bids, Property Manager shall use all reasonable efforts to secure for, and credit to Owner, any discounts, commissions or rebates obtainable as a result of such purchases or services. Property Manager shall use all reasonable efforts to make purchases and (where necessary or desirable) let bids for necessary labor and materials at the lowest possible cost as in its judgment is consistent with good quality, workmanship and service standards. In addition, Property Manager shall use reasonable efforts to purchase goods and services through Property Manager’s or, if so directed by Owner, Owner’s national purchasing agreements, where applicable.

Contracts and Supplies. Property Manager shall, at Owner’s expense, at the lowest cost as in its judgment is consistent with good quality, workmanship and service standards, enter into contracts in its own name as agent for Owner for the furnishing to the Project of required utility services, heating and air-conditioning services and other maintenance, pest control, and any other services and concessions which are reasonably required in connection with the maintenance and operation of the Project; provided, however, (i) that any contracts entered into by Property Manager, whenever practicable, shall be terminable at Property Manager’s or Owner’s sole discretion within 30 thirty (30) days by written notice unless Property Manager receives the prior written consent of Owner to the contrary, (ii) if the amount payable monthly or for any given month pursuant to such contract exceeds $10,000, Property Manager shall obtain Owner’s written approval thereof prior to entering into such contract (such approval shall be deemed granted if not disapproved in writing by Owner within five (5) days of Property Manager’s request for approval) ), and (iii) if the contract is with an affiliate the relationship must be disclosed to the Owner and the terms must be as favorable as those that would be obtained if the transaction were at arm’s length. Each of such contracts shall state that Property Manager is acting as a special limited agent of Owner having only the express powers that are delegated and authorized pursuant to this Agreement. When taking bids, Property Manager shall use all reasonable efforts to secure for, and credit to Owner, any discounts, commissions or rebates obtainable as a result of such purchases or services. Property Manager shall use all reasonable efforts to make purchases and (where necessary or desirable) let bids for necessary labor and materials at the lowest possible cost as in its judgment is consistent with good quality, workmanship and service standards. In addition, Property Manager shall use reasonable efforts to purchase goods and services through Property Manager’s or, if so directed by Owner, Owner’s national purchasing agreements, where applicable.