Common use of New Contracts Clause in Contracts

New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, which shall be cancelable on no more than thirty (30) days written notice. If, after the Approval Date, Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, and unless Purchaser, within five (5) days after receipt of such notice, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved by Purchaser.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Hartman Short Term Income Properties XX, Inc.)

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New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days days’ written noticenotice without payment of any fee or penalty. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereafter, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by Purchaser.Purchaser under Section 3.3 hereof. Purchase and Sale Agreement

Appears in 1 contract

Samples: Purchase and Sale Agreement (Griffin Capital Essential Asset REIT, Inc.)

New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days days' written noticenotice without premium or penalty. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice and a copy thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereof, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by PurchaserPurchaser under Section 3.4 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (New Valley Corp)

New Contracts. Enter into only those third party contracts Contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis4.2, which Contracts shall be cancelable on no more than thirty (30) days days’ written notice. If, after the Approval Date, Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, and unless Purchaser, within five three (53) days after receipt of such notice, notifies business daysthereafternotifies Seller in writing of its intention not to assume such contractContract, it shall be treated as a contract Contract approved by Purchaser.

Appears in 1 contract

Samples: Purchase and Sale Agreement

New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days written notice. If, after Prior to the Approval Date, Seller enters into execution of any such contract, it Seller shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereafter, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Corporate Office Properties Trust)

New Contracts. Enter into only those third third-party service contracts which are reasonably necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, or which shall be cancelable on no more than thirty (30) days written notice. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five three (53) days after receipt of such noticethereafter, notifies Seller in writing of its intention to not to assume such contract, it shall be treated as a contract approved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Resource Real Estate Opportunity REIT, Inc.)

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no not more than thirty (30) days days' written notice. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereafter, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, which shall be cancelable without fee or penalty on no more than thirty (30) days written notice. If, after the Approval Date, Seller Xxxxxx enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, and unless Purchaser, within five (5) days after receipt of such notice, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved by Purchaser.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Nn Inc)

New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days written noticenotice without penalty or termination fee. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereafter, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Brookdale Living Communities Inc)

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days written notice. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five three (53) days after receipt of such noticethereafter, notifies Seller in writing of its intention to not to assume such contract, it shall be treated as a contract approved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund Xiv Lp)

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New Contracts. Enter Following the Approval Date, not execute any amendments to existing Service Contracts and enter into only those third third-party service contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days written noticenotice without penalty. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five three (53) business days after receipt of such noticethereafter, 12 notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved by PurchaserDesignated Service Contract under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Resource Real Estate Opportunity REIT II, Inc.)

New Contracts. Enter into only those third third-party service contracts which that are necessary to carry out its obligations under Section SECTION 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days written noticenotice at no cost to Purchaser. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five (5) business days after receipt of such noticethereafter, notifies Seller in writing of its intention to not to assume such contract, it shall be treated as a contract approved by PurchaserPurchaser under SECTION 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Inland Western Retail Real Estate Trust Inc)

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, and which shall be cancelable on no more than thirty (30) days days' written notice. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five seven (57) days after receipt of such noticethereafter, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract approved disapproved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (HC Government Realty Trust, Inc.)

New Contracts. Enter May enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 andand which, provided such terms are available on a commercially reasonable basisif reasonably possible, which shall be cancelable on no more than thirty (30) days written noticenotice at no cost to Purchaser. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five ten (510) business days after receipt of such noticethereafter, notifies Seller in writing of its intention to not to assume such contract, it shall be treated as a contract approved by PurchaserPurchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Core Office Income Reit Inc)

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and, provided such terms are available on a commercially reasonable basis, 5.2 and which shall be cancelable on no more than thirty (30) days written notice. If, after the Approval Date, If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser, together with a copy of such Contract, Purchaser and unless Purchaser, within five three (53) days after receipt of such noticethereafter, notifies Seller in writing of its intention to not to assume such contract, it shall be treated as a contract approved by PurchaserPurchaser under Section 3.3.1 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (3d Systems Corp)