Common use of Property Manager Not to Pledge Owner's Credit Clause in Contracts

Property Manager Not to Pledge Owner's Credit. Property Manager shall not, except in the purchase of goods, wares, merchandise, materials, supplies and services reasonably required in the ordinary course of business in the operation of the Property or as may be otherwise required in the performance of its obligations under this Agreement and in either case as previously approved by Owner, pledge the credit of Owner; nor shall Property Manager, in the name or on behalf of Owner, borrow any money or execute any promissory note, installment purchase agreement, xxxx of exchange or other obligation binding on Owner or the Property.