Common use of Management of Properties Clause in Contracts

Management of Properties. Each Individual Property is self-managed by the Obligor which owns it (or by a subsidiary of such Obligor) in so far as each Individual Property is leased to a tenant which is required to perform typical property management functions (other than collection of Rents under Qualified Leases) pursuant to the related Qualified Lease and no third party property manager has been retained with respect to any Individual Property.

Management of Properties. Each With the exception of the Westminster Retail Property once acquired, each Individual Property is self-managed by the Obligor which owns it (or by a subsidiary of such Obligor) in so far as each Individual Property is leased to a tenant which is required to perform typical property management functions (other than collection of Rents under Qualified Leases) pursuant to the related Qualified Lease and no third party property manager has been retained with respect to any Individual Property.