Ongoing Operations. From the Effective Date through Closing:
Ongoing Operations. During the pendency of this Agreement:
Ongoing Operations. Seller shall cause the Partnership to carry on its business and activities relating to the Real Property, including (a) the leasing of the Real Property, substantially in the same manner as it did at any time prior to the date of this Agreement, and (b) the conduct of all maintenance, repair and replacement work in accordance with the Partnership’s policies and practices prior to the date of this Agreement including: (i) replacement of carpet and appliances (including individual air-conditioning units) in the ordinary course of business, (ii) interior painting in the ordinary course of business, and (iii) day-to-day maintenance and repair of roofs and other building systems, decks, patios, stairways, parking lots and structures, landscaping, gates and fences and other items requiring periodic maintenance and repair. Notwithstanding the foregoing, nothing contained in this Section 8.06 shall affect or otherwise diminish the rights and obligations of Buyer and Seller under Section 7 hereof with respect to a casualty. On or prior to the Closing Date, Seller shall have caused the Partnership to have performed substantially all work necessary (including, without limitation, supplying operable kitchen appliances, new carpet and repainting) to make all apartment units within the Real Property that have been vacant for more than ten (10) days prior to the Closing Date ready for occupancy by incoming tenants, consistent with prudent management practices of experienced multi-family property owners.
Ongoing Operations. During the pendency of this Contract, Seller shall carry on its business and activities relating to the Property, including the leasing of the Property, in substantially in the same manner as it did before the Effective Date.
Ongoing Operations. During the pendency of this Agreement, but subject to the limitations set forth below, Seller shall carry on its businesses and activities relating to the Real Property substantially in the same manner as it did before the date of this Agreement. The new and pending lease transactions (the “New and Pending Lease Transactions”) reflected on Schedule 1-1 and Schedule 1-2 attached hereto shall be deemed approved by Buyer for purposes of this Agreement.
Ongoing Operations. Seller will use its best effort to preserve intact the Acquired Assets and to continue to operate the Dealership as a going concern, including, but not limited to, maintaining commercially reasonable inventories and receivables. Seller will not dispose of any of the Acquired Assets except in the ordinary course of business consistent with past practices, and will not, without limiting the foregoing, hold a "going-out-of-business" or "liquidation" sale.
Ongoing Operations. During the pendency of this Agreement, but subject to the limitations set forth below, Seller shall carry on its businesses and activities relating to the Real Property substantially in the same manner as it did before the date of this Agreement.
Ongoing Operations. Except as otherwise required under this Section 7 and Section 8, each of the Company and the Company Subs shall conduct, and each of the Sellers shall use all commercially reasonable efforts to cause the Company and each of the Company Subs to conduct, their respective businesses diligently and substantially in the Ordinary Course and preserve for Buyer the present relationships between the Company and the Company Subs on the one hand and its suppliers, distributors, customers, trading partners and others having business relations with it on the other, and shall not, except with Buyer's prior written consent: (i) declare, make or pay any distributions or dividends, whether in cash or Property, on its capital stock or any other equity securities; (ii) make or grant any increases in salary or other compensation or bonuses to employees or terminate any employee (other than for good cause or, in the case of any employee other than a Seller or key or material employee, otherwise in the Ordinary Course); (iii) make any material adjustment in wages or hours of work; (iv) enter into or amend any agreement or transaction with any Person or entity who or which is an Associate or an Affiliate of the Company or any of the Company Subs; (v) permit or engage in any of the actions set forth in Section 4.25 (Related Party Transactions, Intercompany Transactions) hereof, except to the extent necessary to honor its existing obligations in place; (vi) acquire, exchange, transfer, sell or dispose of any Property or assets other than in the Ordinary Course; (vii) take any action, or suffer any action to be taken, which could cause any of the representations or warranties contained in Section 4 and Section 5 not to be true and correct on and as of the Closing Date; (viii) issue or grant any shares of capital stock or other securities (including any convertible security, option or warrant, whether under an existing option plan or otherwise); (ix) amend or repeal any of its Constituent Documents; (x) incur any Indebtedness or permit any of its assets or Property to become subject to any Lien other than Indebtedness incurred or Liens granted in the Ordinary Course or pursuant to the Protek Bridge Agreement; (xi) make any material capital expenditure; (xii) enter into, terminate or amend any Material Agreement; (xiii) discount, collect or write-off any accounts or notes receivables other than in the Ordinary Course; (xiv) offer present or prospective customers any promotional sales...
Ongoing Operations. 12 6.2 Damage.................................................................13 6.3 Condemnation...........................................................13
Ongoing Operations. Notwithstanding anything herein contained, the Company shall have the right to conduct such business and to enter into such agreements as may be necessary in the ordinary course of its business.
