Common use of Cancellation of Service Contracts Clause in Contracts

Cancellation of Service Contracts. Subject to the Tenant Prospect Commission Obligations as set forth below, Property Owner shall terminate effective as of the Closing that certain leasing and management agreement dated July 1, 2000, between Property Owner and Property Owner's Property Manager (the "Property Management Agreement") and any other existing leasing listing agreement entered into by Property Owner for the Real Property. Property Owner shall give notice of cancellation of all Service Contracts except those identified on Exhibit J attached hereto, which notice of termination by Property Owner shall be effective as of the Closing and conditional upon the Closing taking place in a timely manner in accordance with this Agreement. Property Owner and CBL/OP agree as follows with respect to the cancellation fees, penalties, damages or payments, if any, required to be paid for the cancellation of any Service Contracts: (a) CBL/OP shall pay any cancellation fee, penalty, damages or payment required for the cancellation of any Service Contract (other than the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner for the Real Property) in accordance with CBL/OP's request; (b) Property Owner shall pay any cancellation fee, penalty, damages or payment (other than the Tenant Prospect Commission Obligations) required for the cancellation of the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner with respect to the Real Property, and (c) the Company shall be responsible for the obligations of Property Owner pursuant to the Property Management Agreement to pay, or reimburse Property Owner for the payment of, a leasing commission to Property Owner's Property Manager if following the termination of the Property Management Agreement a lease is entered into with a party identified as a prospective tenant, and disclosed in writing to CBL/OP at least 5 days prior to the Closing Date, with whom Property Owner and/or Property Owner's Property Manager had been negotiating prior to the termination of the Property Management Agreement (the "Tenant Prospect Commission Obligations"). Notwithstanding anything to the contrary contained herein, Property Owner's cancellation of any Service Contract (other than the Property Management Agreement with Property Owner's Property Manager or any existing leasing listing agreement entered into by Property Owner for the Real Property) shall not be a condition to Closing or CBL/OP's obligations hereunder. At the Closing, Property Owner shall terminate all Service Contracts other than those identified on Exhibit J attached hereto. CBL/OP acknowledges that, notwithstanding the foregoing, Property Owner shall have no obligation to terminate and the Company shall assume at Closing the Tenant Prospect Commission Obligations of Property Owner pursuant to the Property Management Agreement.

Cancellation of Service Contracts. Subject to the Tenant Prospect Commission Obligations as set forth below, Property Owner shall terminate effective as of the Closing that certain oral leasing and management agreement dated July 1, 2000, between Property Owner and Property Owner's Property Manager (the "Property Management Agreement") and any other existing leasing listing agreement entered into by Property Owner for the Real Property. Property Owner shall give notice of cancellation of all Service Contracts except those identified on Exhibit J attached hereto, which notice of termination by Property Owner shall be effective as of the Closing and conditional upon the Closing taking place in a timely manner in accordance with this Agreement. Property Owner and CBL/OP agree as follows with respect to the cancellation fees, penalties, damages or payments, if any, required to be paid for the cancellation of any Service Contracts: (a) CBL/OP shall pay any cancellation fee, penalty, damages or payment required for the cancellation of any Service Contract (other than the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner for the Real Property) in accordance with CBL/OP's request; (b) Property Owner shall pay any cancellation fee, penalty, damages or payment (other than the Tenant Prospect Commission Obligations) required for the cancellation of the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner with respect to the Real Property, and (c) the Company shall be responsible for the obligations of Property Owner pursuant to the Property Management Agreement to pay, or reimburse Property Owner for the payment of, a leasing commission to Property Owner's Property Manager if following the termination of the Property Management Agreement a lease is entered into with a party identified as a prospective tenant, and disclosed in writing to CBL/OP at least 5 days prior to the Closing Date, with whom Property Owner and/or Property Owner's Property Manager had been negotiating prior to the termination of the Property Management Agreement (the "Tenant Prospect Commission Obligations"). Notwithstanding anything to the contrary contained herein, Property Owner's cancellation of any Service Contract (other than the Property Management Agreement with Property Owner's Property Manager or any existing leasing listing agreement entered into by Property Owner for the Real Property) shall not be a condition to Closing or CBL/OP's obligations hereunder. At the Closing, Property Owner shall terminate all Service Contracts other than those identified on Exhibit J attached hereto. CBL/OP acknowledges that, notwithstanding the foregoing, Property Owner shall have no obligation to terminate and the Company shall assume at Closing the Tenant Prospect Commission Obligations of Property Owner pursuant to the Property Management Agreement.

Cancellation of Service Contracts. Subject to the Tenant Prospect Commission Obligations as set forth below, Property Owner shall terminate effective as of the Closing that certain leasing and management agreement dated July 1, 2000, between Property Owner and Property Owner's Property Manager (the "Property Management Agreement") and any other existing leasing listing agreement entered into by Property Owner for the Real Property. Property Owner shall give notice of cancellation of all Service Contracts except those identified on Exhibit J attached hereto, which notice of termination by Property Owner shall be effective as of the Closing and conditional upon the Closing taking place in a timely manner in accordance with this Agreement. Property Owner and CBL/OP agree as follows with respect to the cancellation fees, penalties, damages or payments, if any, required to be paid for the cancellation of any Service Contracts: (a) CBL/OP shall pay any cancellation fee, penalty, damages or payment required for the cancellation of any Service Contract (other than the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner for the Real Property) in accordance with CBL/OP's request; (b) Property Owner shall pay any cancellation fee, penalty, damages or payment (other than the Tenant Prospect Commission Obligations) required for the cancellation of the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner with respect to the Real Property, and (c) the Company CBL/OP shall be responsible for the obligations of Property Owner pursuant to the Property Management Agreement to pay, or reimburse Property Owner for the payment of, a leasing commission to Property Owner's Property Manager if following the termination of the Property Management Agreement a lease is entered into with a party identified as a prospective tenant, and disclosed in writing to CBL/OP at least 5 days prior to the Closing Date, with whom Property Owner and/or Property Owner's Property Manager had been negotiating prior to the termination of the Property Management Agreement (the "Tenant Prospect Commission Obligations"). Notwithstanding anything to the contrary contained herein, Property Owner's cancellation of any Service Contract (other than the Property Management Agreement with Property Owner's Property Manager or any existing leasing listing agreement entered into by Property Owner for the Real Property) shall not be a condition to Closing or CBL/OP's obligations hereunder. At the Closing, Property Owner shall terminate all Service Contracts other than those identified on Exhibit J attached hereto. CBL/OP acknowledges that, notwithstanding the foregoing, Property Owner shall have no obligation to terminate and the Company CBL/OP shall assume at Closing the Tenant Prospect Commission Obligations of Property Owner pursuant to the Property Management Agreement.

Cancellation of Service Contracts. Subject to the Tenant Prospect Commission Obligations as set forth below, Property Owner shall terminate effective as of the Closing that certain leasing and management agreement dated July 1, 2000, between Property Owner and Property Owner's Property Manager (the "Property Management Agreement") and any other existing leasing listing agreement entered into by Property Owner for the Real Property. Property Owner shall give notice of cancellation of all Service Contracts except those identified on Exhibit J attached hereto, which notice of termination by Property Owner shall be effective as of the Closing and conditional upon the Closing taking place in a timely manner in accordance with this Agreement. Property Owner and CBL/OP agree as follows with respect to the cancellation fees, penalties, damages or payments, if any, required to be paid for the cancellation of any Service Contracts: (a) CBL/OP shall pay any cancellation fee, penalty, damages or payment (other than the Tenant Prospect Commission Obligations) required for the cancellation of any Service Contract (other than the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner for the Real Property) in accordance with CBL/OP's request; (b) Property Owner shall pay any cancellation fee, penalty, damages or payment (other than the Tenant Prospect Commission Obligations) required for the cancellation of the Property Management Agreement or any other existing leasing listing agreement entered into by Property Owner with respect to the Real Property, and (c) the Company CBL/OP shall be responsible for the obligations of Property Owner pursuant to the Property Management Agreement to pay, or reimburse Property Owner for the payment of, a leasing commission to Property Owner's Property Manager if following the termination of the Property Management Agreement a lease is entered into with a party identified as a prospective tenant, and disclosed in writing to CBL/OP at least 5 days prior to the Closing Date, with whom Property Owner and/or Property Owner's Property Manager had been negotiating prior to the termination of the Property Management Agreement (the "Tenant Prospect Commission Obligations"). Notwithstanding anything to the contrary contained herein, Property Owner's cancellation of any Service Contract (other than the Property Management Agreement with Property Owner's Property Manager or any existing leasing listing agreement entered into by Property Owner for the Real Property) shall not be a condition to Closing or CBL/OP's obligations hereunder. At the Closing, Property Owner shall terminate all Service Contracts other than those identified on Exhibit J attached hereto. CBL/OP acknowledges that, notwithstanding the foregoing, Property Owner shall have no obligation to terminate and the Company CBL/OP shall assume at Closing the Tenant Prospect Commission Obligations of Property Owner pursuant to the Property Management Agreement.