Common use of Property Management Services Clause in Contracts

Property Management Services. (i) Manage, operate, lease and maintain all properties or hire third parties to do the same; (ii) Employ and/or oversee a sufficient number of capable personnel to enable it to properly manage, operate, lease and maintain the properties; and (iii) Prepare operating and capital budgets, marketing programs and leasing guidelines. Asset Manager will allocate each Investment Opportunity to one or more of the NSAM Managers, including Asset Manager, for acquisition or origination by one or more Managed Entities, including NRF, and/or to one or more Affiliated Entities, for which Asset Manager determines, in its sole discretion, the Investment Opportunity is most suitable. When determining the entity for which an Investment Opportunity would be the most suitable, the factors that Asset Manager may consider include, without limitation, the following: (i) investment objectives, strategy and criteria; (ii) cash requirements; (iii) effect of the investment on the diversification of the portfolio, including by geography, size of investment, type of investment and risk of investment; (iv) leverage policy and the availability of financing for the investment by each entity; (v) anticipated cash flow of the asset to be acquired; (vi) income tax effects of the purchase; (vii) the size of the investment; (viii) the amount of funds available; (ix) cost of capital; (x) risk return profiles; (xi) targeted distribution rates; (xii) anticipated future pipeline of suitable investments; and (xiii) the expected holding period of the investment and the remaining term of the Managed Entity, or itself, if applicable.