Owner’s Approval. With respect to those activities of Manager hereunder which require Owner's approval of such activity or the cost thereof, if Owner fails to approve either the activity or the costs, which Owner may do in its sole and absolute discretion, then Manager shall not be responsible to provide the activity until Owner's approval is obtained. Manager shall be obligated to timely seek approval of such matters from Owner. So long as Manager has acted timely and diligently and has provided Owner with all relevant information, Manager shall not be responsible for any direct loss, cost or expense arising from its failure to act.
Appears in 6 contracts
Samples: Property Management Agreement (Balcor Realty Investors 85 Series Iii), Property Management Agreement (Balcor Realty Investors 85 Series I), Property Management Agreement (Balcor Realty Investors 84)
Owner’s Approval. With respect to those activities of Manager hereunder which require Owner's ’s approval of such activity or the cost thereof, if Owner fails to approve either the activity or the costs, which Owner may do in its sole and absolute reasonable discretion, then Manager shall not be responsible to provide the activity until Owner's ’s approval is obtained. Manager shall be obligated to timely seek approval of such matters from Owner. So long as Manager has acted timely and diligently and has provided Owner with all relevant information, Manager shall not be responsible for any direct loss, cost or expense arising from its failure to act.
Appears in 3 contracts
Samples: Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.), Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.), Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.)
Owner’s Approval. With respect to those activities of Manager hereunder which require Owner's ’s approval of such activity or the cost thereof, if Owner fails to approve either the activity or the costs, which Owner may do then (other than as set forth in its sole and absolute discretion, then this agreement with respect to matters that are deemed approved) Manager shall not be responsible to provide the activity until Owner's ’s approval is obtained. Manager shall be obligated to timely seek approval of such matters from Owner. So long as Manager has acted timely and diligently and has provided Owner with all relevant information, Manager shall not be responsible for any direct loss, cost or expense arising from its failure to act.
Appears in 1 contract
Samples: Property Management Agreement
Owner’s Approval. With respect to those activities of Manager hereunder which require Owner's approval of such activity or the cost thereof, if which approval Owner fails to approve either the activity shall not unreasonably delay, withhold or the costscondition, which Owner may do in its sole and absolute discretion, then Manager shall not be responsible to provide the activity or incur the cost until Owner's approval is obtained. Manager shall be obligated to timely seek approval of such matters from Owner. So long as Manager has acted timely and diligently and has provided Owner with all relevant information, Manager shall not be responsible for any direct loss, cost or expense arising from its failure to act.
Appears in 1 contract
