Conduct of the Business in Ordinary Course. 7.1 Seller will carry on the operation and maintenance of the Property from the Effective Date to the Closing Date in the ordinary course of Seller’s business consistent with its historical practice, including but not limited to: (a) maintaining inventories at the Property at levels historically maintained; (b) performing necessary maintenance and repairs, including but not limited to maintenance and repairs necessary to keep the Hotel in the condition required by the Franchisor; (c) maintaining insurance coverages consistent with Seller’s then-current risk management policies; and (d) advertising and marketing the Hotel and accepting Bookings. Immediately upon receipt by Seller from Manager, but in any event on or before the twentieth (20th) day of each calendar month after the Effective Date, Seller shall deliver a monthly Hotel operating statement to Purchaser in substantially form maintained by Seller in the ordinary course of business.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.), Purchase and Sale Agreement (Condor Hospitality Trust, Inc.)
