Common use of Leases and Property Contracts Clause in Contracts

Leases and Property Contracts. During the period of time from the Effective Date to the Closing Date, in the ordinary course of business Seller may enter into new Property Contracts, new Leases, renew existing Leases or modify, terminate or accept the surrender or forfeiture of any of the Leases, modify any Property Contracts, or institute and prosecute any available remedies for default under any Lease or Property Contract without first obtaining the written consent of Purchaser; provided, however, Seller agrees that any such new Property Contracts or any new or renewed Leases shall not have a term in excess of 1 year (or such longer period of time for which such Property Contracts or Leases are entered into by Seller in the ordinary course of its operation of the Property) without the prior written consent of Purchaser, which consent shall not be unreasonably withheld, conditioned or delayed; provided, further, however, Seller agrees that any new Property Contracts entered into after the expiration of the Feasibility Period shall be terminable upon not more than 30 days notice to the vendor without penalty or costs thereunder, unless Purchaser gives its prior written consent, which consent shall not be unreasonably withheld or delayed.

Leases and Property Contracts. During the period of time from the Effective Date to the Closing Date, in the ordinary course of business Seller may enter into new Property Contracts, new Leases, renew existing Leases or modify, terminate or accept the surrender or forfeiture of any of the Leases, modify any Property Contracts, or institute and prosecute any available remedies for default under any Lease or Property Contract without first obtaining the written consent of Purchaser; provided, however, Seller agrees that any such new Property Contracts or any new or renewed Leases shall not have a term in excess of 1 year (or such longer period of time for which such Property Contracts or Leases are entered into by Seller in the ordinary course of its operation of the Property) and will not provide to Seller any upfront fees or advances against future fees, in each case without the prior written consent of Purchaser, which consent shall not be unreasonably withheld, conditioned or delayed; provided, further, however. Notwithstanding the foregoing, Seller agrees that any it will only enter into new Property Contracts entered into during the period after the expiration of the Feasibility Period shall be to the Closing Date, to the extent such Property Contracts are terminable upon not more than 30 days notice to the vendor without penalty or costs thereunder, unless Purchaser gives its prior written consent, which consent shall not be unreasonably withheld or delayednotice.

Leases and Property Contracts. During the period of time from the Effective Date to the Closing Date, in the ordinary course of business Seller may enter into new Property Contracts, new Leases, renew existing Leases or modify, terminate or accept the surrender or forfeiture of any of the Leases, modify any Property Contracts, or institute and prosecute any available remedies for default under any Lease or Property Contract without first obtaining the written consent of Purchaser; provided, however, Seller agrees that any such new Property Contracts or any new or renewed Leases shall not have a term in excess of 1 year (or such longer period of time for which such Property Contracts or Leases are entered into by Seller in the ordinary course of its operation of the Property) that, without the prior written consent of Purchaser, which consent shall not be unreasonably withheld, conditioned or delayed; provided, further, however, Seller agrees that (a) any such new Property Contracts entered into after shall be terminable on 30-days notice and shall not have a term in excess of 1 year, and (b) any new or renewed Leases shall not have a term in excess of 1 year. After the expiration of the Feasibility Period Period, if Seller shall be terminable upon not more than 30 days enter into a new permitted Property Contract or a new Lease, or shall renew, modify, terminate or accept the surrender of any Lease, or modify any Property Contract during such time period, Seller shall provide Purchaser with written notice to the vendor without penalty of such event and a copy of any new Lease or costs thereundernew Property Contract, unless Purchaser gives its prior written consentor any modification of any Lease or Property Contract, which consent shall not be unreasonably withheld or delayedwithin 5 Business Days after executing same.