Management by Inland. In connection with its undertaking hereunder, Inland intends, in its capacity as a Partner of the Partnership, to use commercially reasonable efforts and shall cause the General Partner to use commercially reasonable efforts to take all actions in the usual and customary course of its business to cause the Owned Properties owned by the Property Entities to be operated, managed, leased, acquired and disposed of in the best interests of the Partnership and each of its Partners. Notwithstanding the foregoing, PGGM PRE Fund acknowledges and agrees that Inland or the General Partner owes no fiduciary or other duty to PGGM PRE Fund to cause the Owned Properties to be treated any differently than any other Property which may now or hereafter be owned, managed or leased by Inland, the General Partner or any of their Affiliates, and that Inland and the General Partner shall be entitled to directly compete with the Partnership and PGGM PRE Fund with respect to the activities of the Partnership provided such competition does not otherwise violate the provisions of Section 14.4, the Property Management Agreement or the Leasing Agreement. Inland, on behalf of itself and its Affiliates and subsidiaries, agrees that, and subject to obtaining the approval of the Limited Partners in the case of Major Decisions, for as long as the General Partner is an Affiliate of Inland, the General Partner shall operate the Partnership, REIT Entities, Property Entities and Owned Properties in a manner consistent with the customary standards for similar equity investments and properties owned by Inland and its Affiliates taking into consideration the specific characteristics of the Owned Properties.
Management by Inland. In connection with its undertaking hereunder, Inland intends, in its capacity as a Member of the company, to use its best efforts and shall cause the Manager to use its best efforts to take all actions in the usual and customary course of its business to cause the Properties owned by the Company to be operated, managed, leased, acquired and disposed of in the best interests of the Company and each of its Members. Notwithstanding the foregoing, SAU acknowledges and agrees that Inland owes no fiduciary or other duty to SAU to cause the Properties to be treated any differently than any other property which may now or hereafter owned, managed or leased by Inland or any of its Affiliates or subsidiaries, and that Inland shall be entitled to directly compete with the Company and SAU with respect to the activities of the Inland Joint Venture. Inland on behalf of itself and its Affiliates and subsidiaries, agrees that, subject to the limitations of the Annual Plan, and subject to obtaining the approval of the other Member in the case of Major Decisions, for as long as Manager is an Affiliate of Inland, the Manager shall operate the Company and its Subsidiaries and Properties in a manner consistent with the customary standards for similar equity investments and properties owned by Inland and its Affiliates taking into consideration the specific characteristics of the Properties.
