Common use of Property Services Agreements Clause in Contracts

Property Services Agreements. For each Property in which an Operating Company invests, a Fund Entity through which such Operating Company owns such Property shall enter into a property services agreement (a “Property Services Agreement”) with Hxxxx or an Affiliate of Hxxxx (a “Property Manager”) substantially in the form attached hereto as Exhibit A (the “Property Services Agreement Form”) pursuant to which the Property Manager will provide property management, redevelopment and leasing services for such Property. By executing this Agreement, each Limited Partner approves the provisions of the Property Services Agreement Form and consents to the execution, delivery and performance by a Fund Entity of a Property Services Agreement substantially in such form with respect to each Property in which any Operating Company invests. Changes may be made to the Property Services Agreement as the Managing General Partner or the applicable Operating Company deems necessary or appropriate to accommodate the particular circumstances of each Property; provided that the Managing General Partner (i) must obtain the approval of the Non-Managing General Partner for any such changes, and (ii) shall not authorize any increase in the Property Services Fees payable to the Property Manager or any material increase in the risks or obligations to be borne by the Owner under any Property Services Agreement over those provided for in or contemplated by the Property Services Agreement Form, without the consent of the Advisory Committee pursuant to Section 5.4 hereof.

Property Services Agreements. For each Property in which an Operating Company invests, a Fund Entity through which such Operating Company owns such Property shall enter into a property services agreement (a “Property Services Agreement”) with Hxxxx Xxxxx or an Affiliate of Hxxxx Xxxxx (a “Property Manager”) substantially in the form attached hereto as Exhibit A (the “Property Services Agreement Form”) pursuant to which the Property Manager will provide property management, redevelopment and leasing services for such Property. By executing this Agreement, each Limited Partner approves the provisions of the Property Services Agreement Form and consents to the execution, delivery and performance by a Fund Entity of a Property Services Agreement substantially in such form with respect to each Property in which any Operating Company invests. Changes may be made to the Property Services Agreement as the Managing General Partner or the applicable Operating Company deems necessary or appropriate to accommodate the particular circumstances of each Property; provided that the Managing General Partner (i) must obtain the approval of the Non-Managing General Partner for any such changes, and (ii) shall not authorize any increase in the Property Services Fees payable to the Property Manager or any material increase in the risks or obligations to be borne by the Owner under any Property Services Agreement over those provided for in or contemplated by the Property Services Agreement Form, without the consent of the Advisory Committee pursuant to Section 5.4 hereof.. SECTION 5.9

Property Services Agreements. For each Property in which an Operating Company invests, a Fund Entity through which such Operating Company owns such Property shall enter into a property services agreement (a “Property Services Agreement”) with Hxxxx Xxxxx or an Affiliate of Hxxxx Xxxxx (a “Property Manager”) substantially in the form attached hereto as Exhibit A (the “Property Services Agreement Form”) pursuant to which the Property Manager will provide property management, redevelopment and leasing services for such Property. By executing this Agreement, each Limited Partner approves the provisions of the Property Services Agreement Form and consents to the execution, delivery and performance by a Fund Entity of a Property Services Agreement substantially in such form with respect to each Property in which any Operating Company invests. Changes may be made to the Property Services Agreement as the Managing General Partner or the applicable Operating Company deems necessary or appropriate to accommodate the particular circumstances of each Property; provided that the Managing General Partner (i) must obtain the approval of the Non-Managing General Partner for any such changes, and (ii) shall not authorize any increase in the Property Services Fees payable to the Property Manager or any material increase in the risks or obligations to be borne by the Owner under any Property Services Agreement over those provided for in or contemplated by the Property Services Agreement Form, without the consent of the Advisory Committee pursuant to Section 5.4 hereof.