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 which shall be cancelable on thirty (30) days written notice without penalty or termination fee. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven (7) days thereafter, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by Purchaser under Section 3.3 hereof.

Appears in 1 contract

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

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New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and which shall be cancelable on thirty (30) days written notice without penalty or termination feenotice. If Seller enters into Prior to the execution of any such contract, it Seller shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven (7) days thereafter, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by Purchaser 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 necessary to carry out its obligations under Section 4.2 and which shall be cancelable on thirty (30) days written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven three (73) days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (KBS Real Estate Investment Trust III, Inc.)

New Contracts. Enter into only those third party contracts Contracts which are necessary to carry out its obligations under Section 4.2 and 4.2, which Contracts shall be cancelable on no more than thirty (30) days days’ written notice without penalty or termination feenotice. If If, after the Approval Date, Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser Purchaser, together with a copy of such Contract, and unless Purchaser, within seven three (73) days thereafter, notifies business daysthereafternotifies Seller in writing of its intention not to assume such contractContract, it shall be treated as a contract disapproved Contract approved by Purchaser under Section 3.3 hereofPurchaser.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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 or which shall be cancelable on thirty (30) days written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven three (73) days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser 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 which shall be cancelable on thirty (30) days days’ written notice without penalty payment of any fee or termination feepenalty. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven (7) days thereafter, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by 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 and, provided such terms are available on a commercially reasonable basis, which shall be cancelable on no more than thirty (30) days written notice without penalty or termination feenotice. If If, after the Approval Date, Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser Purchaser, together with a copy of such Contract, and unless Purchaser, within seven five (75) days thereafterafter receipt of such notice, notifies Seller in writing of its intention not to assume such contract, it shall be treated as a contract disapproved approved by Purchaser under Section 3.3 hereofPurchaser.

Appears in 1 contract

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

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 5.2 and which shall be cancelable on thirty (30) days written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven three (73) days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser under Section 3.3 3.3.1 hereof.

Appears in 1 contract

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

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and which shall be cancelable on thirty (30) days days' written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven (7) days thereafter, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by Purchaser under Section 3.3 hereof.

Appears in 1 contract

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

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New Contracts. Enter May enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and which which, if reasonably possible, shall be cancelable on thirty (30) days written notice without penalty or termination feeat no cost to Purchaser. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven ten (710) business days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser 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 which shall be cancelable on thirty (30) days written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven three (73) days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser under Section 3.3 hereof.

Appears in 1 contract

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

New Contracts. Enter into only those third party contracts which are necessary to carry out its obligations under Section 4.2 and which shall be cancelable on thirty (30) days days' written notice without penalty premium or termination feepenalty. If Seller enters into any such contract, it shall promptly provide written notice and a copy thereof to Purchaser and unless Purchaser, within seven (7) days thereafterafter receipt thereof, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by Purchaser under Section 3.3 3.4 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement (New Valley Corp)

New Contracts. Enter into only those third third-party contracts which are necessary to carry out its obligations under Section 4.2 and which shall be cancelable on not more than thirty (30) days days' written notice without penalty or termination feenotice. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven (7) days thereafter, notifies Seller in writing of its intention to assume such contract, it shall be treated as a contract disapproved by Purchaser under Section 3.3 hereof.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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 which shall be cancelable on thirty (30) days written notice without penalty or termination feeat no cost to Purchaser. If Seller enters into any such contract, it shall promptly provide written notice thereof to Purchaser and unless Purchaser, within seven five (75) business days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract disapproved approved by Purchaser under Section SECTION 3.3 hereof.

Appears in 1 contract

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

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