Common use of Actions Prohibited Clause in Contracts

Actions Prohibited. Seller shall not, without the prior written approval of Purchaser: (i) make any material structural alterations or additions to the Property except as (a) in the ordinary course of operating the Property, (b) required for maintenance and repair, (c) required by any of the Leases or the Service Contracts or (d) required by this Agreement; (ii) sell, transfer, encumber or change the status of title of all or any portion of the Property; (iii) change or attempt to change, directly or indirectly, the current zoning of the Real Property in a manner materially adverse to it; or (iv) cancel, amend or modify, in a manner materially adverse to the Property, any license or permit held by Seller with respect to the Property or any part thereof which would be binding upon Purchaser after the Closing.

Appears in 2 contracts

Samples: Sale, Purchase and Escrow Agreement (Behringer Harvard Multifamily Reit I Inc), Sale, Purchase and Escrow Agreement (Behringer Harvard Multifamily Reit I Inc)

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Actions Prohibited. Seller shall not, without the prior written approval of Purchaser, which approval will not be unreasonably withheld or delayed: (i) make any material structural alterations or additions to the Property except as (a) in the ordinary course of operating the Property, (b) required for maintenance and repair, repair or (c) required by any of the Leases Lease or the Service Contracts or (d) required by this AgreementContracts; (ii) sell, transfer, encumber or change the status of title of all or any portion of the Property; (iii) change or attempt to change, directly or indirectly, the current zoning of the Real Property in a manner materially adverse to it; or (iv) cancel, amend or modify, in a manner materially adverse to the Property, any license or permit held by Seller with respect to the Property or any part thereof which would be binding upon Purchaser after the Closing.

Appears in 1 contract

Samples: Sale, Purchase and Escrow Agreement (Point.360)

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Actions Prohibited. Seller shall not, without the prior written approval of Purchaser, which approval will not be unreasonably withheld or delayed: (i1) make any material structural alterations or additions to the Property except as (a) in the ordinary course of operating the Property, (b) required for maintenance and repair, (c) required by any of the Leases or the Service Contracts or (d) required by this Agreement; (ii2) sell, transfer, encumber or change the status of title of all or any portion of the Property; (iii3) change or attempt to change, directly or indirectly, the current zoning of the Real Property in a manner materially adverse to it; or (iv4) cancel, amend or modify, in a manner materially adverse to the Property, any license or permit held by Seller with respect to the Property or any part thereof which would be binding upon Purchaser after the Closing.

Appears in 1 contract

Samples: Sale, Purchase and Escrow Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)

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