Common use of Leasing Functions Clause in Contracts

Leasing Functions. Manager will coordinate and negotiate the leasing of the Properties using reasonable commercial efforts to secure executed leases (both new and renewal) from qualified tenants for available space in the Properties. The leases must be consistent with form and terms approved by Owner unless a tenant requires use of its own lease form. Manager will hiring all leasing agents as necessary for the leasing of the Properties, work with outside brokers and leasing agents, and otherwise oversee and manage the leasing process on behalf of Owner. Manager’s duties in this regard include, without limitation, (1) preparing and distributing listings to potential tenants and/or their representatives and to reputable and active real estate agents; (2) supplying sufficient information to cooperating brokers and agents to enable them to promote the rental of the Properties, (3) marketing and promoting the Properties to potential tenants, current tenants and the general community, including, without limitation, by means and media as Manager deems appropriate such as attendance at ICSC and related leasing events, (4) maintaining and updating a merchandising and leasing plan for each Property, (5) providing an updated leasing budget and leasing reforecast for the then-following twelve (12) month period as part of the Plan, and (6) assist in securing leases with temporary tenants or licensees for the use of the Properties. Manager will (i) perform leasing analysis and credit underwriting with respect to prospective tenants (and subtenants and assignees) and prepare any leases and other tenant related documents and (ii) use commercially reasonable efforts to operate in accordance with the Plan unless otherwise specifically approved in writing by Owner, or except in the case of emergencies or uncontrollable expenses.