Further Contracts, Leases and Agreements Sample Clauses
The "Further Contracts, Leases and Agreements" clause requires the parties to enter into additional contracts, leases, or agreements as necessary to fulfill the objectives of the main agreement. In practice, this means that if certain aspects of the transaction require separate documentation—such as a lease for property use or a contract for specific services—the parties are obligated to execute those documents when needed. This clause ensures that all ancillary arrangements are properly formalized, preventing gaps in legal coverage and facilitating the smooth implementation of the overall agreement.
Further Contracts, Leases and Agreements. From the date hereof, until the earlier of the Closing or the termination of this Agreement, Seller will operate the Hotel in accordance with the following provisions:
(a) Seller shall not, without the prior written consent of Buyer, operate the Hotel and hold the Property otherwise than in a manner consistent with past practices and the ordinary course of business;
(b) Seller shall not dispose of any Hotel furniture, fixtures or FF&E other than in the ordinary course of business or sell, assign, or create any right, title or interest in the Property; and
(c) Seller shall not, without the prior written consent of Buyer, enter into any further contracts, leases or agreements relating to the Property, or extend, renew or amend existing contracts and agreements, other than in the ordinary course of business and only if the same is terminable upon 30 days notice without penalty or termination fee of any kind.