Common use of No Defaults; Maintenance of Property Clause in Contracts

No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leases, the Service Contracts and any existing indebtedness relating to the Property. Seller shall operate and maintain the Property in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereof.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Matrix Pharmaceutical Inc/De), Purchase and Sale Agreement (Cytrx Corp), Purchase and Sale Agreement (Cytrx Corp)

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No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the PropertyProperty which would be binding on Buyer following the Closing or subject Buyer to liability as the owner of the Property following the Closing. Subject to Section 12, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leases, the Service Contracts and any existing indebtedness relating to the Property. Seller shall operate and maintain the Property in its current condition, reasonable wear and tear excepted, in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereofLaws.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Arena Pharmaceuticals Inc)

No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leasesleases, any operating agreements, the Service Contracts service contracts, and any existing indebtedness relating to the Property; provided, however, that Seller shall have the right to contest any claim that it is in default under any such obligation but such contest shall not excuse Seller's obligation to perform hereunder. Seller shall operate and maintain the Property in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereofpractices.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Price T Rowe Realty Income Fund Ii)

No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leases, the Service Contracts and any existing indebtedness Seller relating to the Property. Except as expressly contemplated by this Agreement, Seller shall operate operate, manage and maintain the Property in a manner consistent with past practices and the ordinary course of Seller’s business, and in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereofLaws.

Appears in 1 contract

Samples: Purchase Agreement

No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant LeasesLeases (if any), the Service Contracts and any existing indebtedness relating to the Property. Subject to Section 12, Seller shall operate and maintain the Property in its current condition, reasonable wear and tear excepted, in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereofLaws.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Scios Inc)

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No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any material obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leases, any REA, the Service Contracts Contracts, and any construction or existing indebtedness relating to the Property. Seller shall operate and maintain the Property in accordance with Seller's past practice and all applicable Laws Laws, rules and regulations affecting the Property or any portion thereof.

Appears in 1 contract

Samples: Memorandum of Agreement (Price Reit Inc)

No Defaults; Maintenance of Property. Seller shall not default with respect to the performance of any obligation relating to the Property, including, without limitation, the payment of all amounts due and the performance of all obligations with respect to the Tenant Leases, the Service Contracts and any existing indebtedness relating to the Property. Subject to Section 12, Seller shall operate and maintain the Property in its current condition, reasonable wear and tear excepted, in accordance with Seller's past practice and all applicable Laws affecting the Property or any portion thereofLaws.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Gsi Lumonics Inc)

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