Common use of Operating Agreements Clause in Contracts

Operating Agreements. Each of the Operating Agreements may be terminated by the Seller or the Purchaser upon not more than 30 days' prior written notice and without the payment of any penalty, fee, premium or other amount. The Seller has performed all of its obligations under each of the Operating Agreements and no fact or circumstance has occurred which, by itself or with the passage of time or the giving of notice or both, would constitute a default under any of the Operating Agreements. The Seller shall not enter into any new management agreement, maintenance or repair contract, supply contract, lease (as lessor or lessee) or other agreements with respect to the Property, nor shall the Seller enter into any agreements modifying the Operating Agreements, unless (a) any such agreement or modification will not bind the Purchaser or the Property after the Closing Date or (b) the Seller has obtained the express prior written consent of the Purchaser to such agreement or modification. The Seller agrees to cancel and terminate all of the Operating Agreements as of Closing unless the Purchaser requests in writing prior to Closing that one or more remain in effect after Closing.

Operating Agreements. Each of the Operating Agreements may be -------------------- terminated by the Seller or the Purchaser upon not more than 30 days' prior written notice and without the payment of any penalty, fee, premium or other amount. The Seller has have performed all of its their obligations under each of the Operating Agreements and no fact or circumstance has occurred which, by itself or with the passage of time or the giving of notice or both, would constitute a default under any of the Operating Agreements. The Seller shall not enter into any new management agreement, maintenance or repair contract, supply contract, lease (as lessor or lessee) or other agreements with respect to the Property, nor shall the Seller enter into any agreements modifying the Operating Agreements, unless (a) any such agreement or modification will not bind the Purchaser or the Property after the Closing Date or (b) the Seller has have obtained the express prior written consent of the Purchaser to such agreement or modification. The Seller agrees to cancel and terminate all of the Operating Agreements as of the Closing unless the Purchaser requests in writing prior to Closing that one or more remain in effect after Closing.

Operating Agreements. Each of the Operating Agreements may be terminated by the Seller or the Purchaser upon not more than 30 days' prior written notice and without the payment of any penalty, fee, premium or other amount. The Seller has performed all of its obligations under each of the Operating Agreements and no fact or circumstance has occurred which, by itself or with the passage of time or the giving of notice or both, would constitute a default under any of the Operating Agreements. The Seller shall not enter into any new management agreement, maintenance or repair contract, supply contract, lease (as lessor or lessee) in which it is lessee or other agreements with respect to the Property, nor shall the Seller enter into any agreements modifying the Operating Agreements, unless (a) any such agreement or modification will not bind the Purchaser or the Property after the Closing Date or (b) the Seller has obtained the express prior written consent of the Purchaser to such agreement or modification. The Seller agrees to cancel and terminate all of the Operating Agreements as of Closing unless the Purchaser requests in writing prior to Closing that one or more remain in effect after Closing.

Operating Agreements. Each of the Operating Agreements may be --------------------- terminated by the Seller or the Purchaser upon not more than 30 days' prior written notice and without the payment of any penalty, fee, premium or other amount. The Seller has performed all of its obligations under each of the Operating Agreements and no fact or circumstance has occurred which, by itself or with the passage of time or the giving of notice or both, would constitute a default under any of the Operating Agreements. The Seller shall not enter into any new management agreement, maintenance or repair contract, supply contract, lease (as lessor or lessee) or other agreements with respect to the Property, nor shall the Seller enter into any agreements modifying the Operating Agreements, unless (a) any such agreement or modification will not bind the Purchaser or the Property after the Closing Date or (b) the Seller has obtained the express prior written consent of the Purchaser to such agreement or modification. The Seller agrees to cancel and terminate all of the Operating Agreements as of the Closing unless the Purchaser requests in writing prior to Closing that one or more remain in effect after Closing.