Owner and Manager. Nothing contained in this Agreement shall be deemed or construed by the parties hereto or by any third party to create the relationship of principal and agent or of partnership or of joint venture or of any association whatsoever between Owner and Manager, it being expressly understood and agreed that neither the computation of rent nor any other provision contained in this Agreement nor any act or acts of the parties hereto shall be deemed to create any relationship between Owner and Manager other than the relationship of Owner and Manager.
Owner and Manager acknowledge and agree that Manager would not have entered in to this Agreement but for the guarantee of at least twelve (12) months of Management Fees. Therefore, should Manager's services be terminated within twelve (12) months of commencement of this Agreement for any reason other than as set forth in Section 5.2(A) below, Manager shall be paid an early termination fee equal to twelve (12) months of Management Fees which would otherwise be payable to Manager hereunder (based on a stabilized income for the Property), less any Management Fees actually paid to Manager hereunder for periods prior to such termination, which early termination fee is to be paid to Manager within thirty-five (35) days of receipt of such termination notice.
Owner and Manager hereby acknowledge that affiliates of Owner and Manager have heretofore entered into that certain Real Estate Retention Agreement, dated as of July 20, 1992 (the "Retention Agreement"), whereby Vornado Realty L.P., as successor in interest to Vornado, Inc. has agreed to act as leasing agent with respect to the Properties.
Owner and Manager. (i) The Dealer conducts business under the following legal form: Corporation
Owner and Manager acknowledge that nothing contained in this agreement shall restrict or otherwise affect the rights of Vornado Realty Trust or any affiliate thereto in connection with any loan facility provided by Vornado Realty Trust or such affiliate to Alexander's, Inc. and/or its subsidiary.
Owner and Manager. Landxxxx xxxes to Tenant and Tenaxx xxxnowledges having the following information:
Owner and Manager acknowledge and agree that Manager shall be entitled to cause a sign to be erected and maintained at the Facility at Owner’s expense. The sign will display the name of the Facility.
Owner and Manager acknowledge and agree that Owner desires to take a more active role in day-to-day operations of its real estate holdings, but at the time of Owner's entry into this Agreement, Owner is not in a position to reflect in this Agreement its desired more active participation in day-to-day real estate operations. Accordingly, Manager agrees that upon Owner's notice that Owner desires to restructure
Owner and Manager shall cause all leases, grants and other written transfers of interest in such Hotel to contain a provision expressly requiring all holders thereof to take the property subject to the restrictions and not to violate any of the conditions of the Declaration of Environmental Restrictions.
Owner and Manager. E. All property damage insurance procured and maintained pursuant to the Agreement, including, without limitation, insurance procured and maintained pursuant to A(1), A(2) and A(7) above, shall name Owner and Manager as insureds and shall provide for the payment of losses thereunder to Owner and Manager as their respective interests shall appear thereon. All liability insurance procured and maintained pursuant to the Agreement, including without limitation, the policies procured and maintained pursuant to A(3), (4), (5), (6) and (8), shall name Owner, Manager, their Affiliates and their and their Affiliates' respective shareholders, partners, directors, officers, agents and employees as insureds. All policies of Workers Compensation and Employers Liability pursuant to B (1) and (2) shall include a waiver of subrogation in favor of Owner.
