Common use of Labor and Employment Agreements Clause in Contracts

Labor and Employment Agreements. There are no labor disputes pending or, to the best of the Seller's knowledge, threatened as to the operation or maintenance of the Property or any part thereof. The Seller is not a party to any union or other collective bargaining agreement with employees employed in connection with the ownership, operation or maintenance of the Property. The Seller is not a party to any employment contracts or agreements, written or oral, with any persons employed with respect to the Property that will be binding on the Purchaser on or after the Closing. Neither the Seller nor its managing agent (if any) will, between the date hereof and the Closing Date, enter into any new employment contracts or agreements or hire any new employees that will be binding on the Purchaser on or after the Closing. The Purchaser will not be obligated to give or pay any amount to any employee of the Seller or the Seller's managing agent. The Purchaser shall not have any liability under any pension or profit sharing plan that the Seller or its managing agent may have established with respect to the Property or their or its employees.

Labor and Employment Agreements. There are no labor disputes pending or, to the best of the SellerSellers's knowledge, threatened as to the operation or maintenance of the Property or any part thereof. The Seller is Sellers are not a party parties to any union or other collective bargaining agreement with employees employed in connection with the ownership, operation or maintenance of the Property. The Seller is Sellers are not a party parties to any employment contracts or agreements, written or oral, with any persons employed with respect to the Property that will be binding on the Purchaser on or after the Closing. Neither the Seller Sellers nor its their managing agent (if any) will, between the date hereof and the Closing Date, enter into any new employment contracts or agreements or hire any new employees that will be binding on the Purchaser on or after the Closing. The Purchaser will not be obligated to give or pay any amount to any employee of the Seller Sellers or the SellerSellers's managing agent. The Purchaser shall not have any liability under any pension or profit sharing plan that the Seller Sellers or its managing agent may have established with respect to the Property or their or its employees.