Common use of Construction of Improvements; Lease of Improvements Clause in Contracts

Construction of Improvements; Lease of Improvements. On each --------------------------------------------------- Property Closing Date, the Lessor and the Lessee will execute and deliver an Agency Agreement Supplement, dated as of such Property Closing Date, pursuant to which the Lessee will agree to act as Construction Agent and to perform the Lessor's obligations under the Construction Agreement in connection with the completion of the construction or renovation of the Improvements on the Land acquired on such Property Closing Date.

Construction of Improvements; Lease of Improvements. On each --------------------------------------------------- Property Closing Date, the Lessor and the Lessee will (provided such Property is not a Completed Property) execute and deliver an Agency Agreement Supplement, dated as of such Property Closing Date, pursuant to which the Lessee will agree to act as Construction Agent and to perform the Lessor's obligations under the Construction Agreement in connection with the completion of the construction or renovation of the Improvements on the Land acquired on such Property Closing Date.