Common use of Operation of Project Clause in Contracts

Operation of Project. 12.1 From and after the date hereof to the Closing Date, Seller shall: (a) continue to maintain, operate and conduct business at the Project in substantially the same manner as prior to the date hereof; (b) perform all regular and emergency maintenance and repairs with respect to the Project; (c) keep the Project insured against all usual risks and will maintain in effect all insurance policies now maintained on the same; (d) not sell, assign or convey any right, title or interest in any part of the Project; (e) not change the operation or status of the Project in any manner reasonably expected to impair or diminish its value; and (f) not execute, amend or extend any Tenant Lease for a term in excess of one year or providing for a rental rate that is less than the present rental for such space within the Project plus any increase thereof contemplated in the Project’s operating budget, or otherwise terminate or waive any rights under the Tenant Leases. Further, the Seller shall at or prior to the Closing Date furnish Purchaser with a copy of each new or renewal Tenant Lease. 12.2 The Purchaser shall have the right, but not the obligation, to hire those employees of the Seller and the Project's management agent who worked at or provided services to the Project, effective as of the Closing Date. Upon the consummation of the transactions contemplated herein, such employees will remain employees of Seller or the manager unless expressly retained by Purchaser, and all compensation and fees due such employees, including any amount payable or that becomes payable as a result of the termination of the employees, and all costs and taxes attributable to such employment, shall be paid by Seller or the manager, as the case may be. Effective as of the Closing Date, the Seller shall terminate the existing manager of the Project and any Project Contracts not assigned to Purchaser.

Operation of Project. 12.1 From and after the date hereof to the Closing Date, Seller shall: (ai) continue to maintain, maintain the Project in the ordinary course and shall operate and conduct business at the Project in substantially the same manner as the Project has been operated prior to the date hereof; (bii) perform all regular and emergency maintenance and repairs with respect to the Project; (ciii) keep the Project insured against all usual risks and will maintain in effect all insurance policies now maintained on currently covering the sameProject or any portion thereof; and (d) not sell, assign or convey any right, title or interest in any part of the Project; (eiv) not change the operation or status of the Project in any manner reasonably expected to impair or diminish its value; and provided, however: (fa) not execute, amend or extend any no Tenant Lease shall be executed or extended for a term in excess of one year year; (b) no Tenant Lease shall be executed or providing for extended at a rental rate that is less than a rental rate that is less than the present rental for such space within the Project plus any increase thereof contemplated in the Project’s 's operating budget, or otherwise terminate or waive any rights under the Tenant Leases. Further, the ; and (c) Seller shall at or prior to the Closing Date furnish Purchaser with a copy of each new or renewal Tenant Lease. 12.2 lease. The Purchaser shall have the right, but not the obligation, to hire those employees of the Seller and the Project's management agent who worked at or provided services to the Project, effective as of the Closing Date. Upon the consummation of the transactions contemplated herein, such all employees will remain employees of Seller or the manager unless expressly retained by Purchaser, and all compensation and fees due such employees, including any amount payable or that becomes payable as a result of the termination of the employees, and all costs and taxes attributable to such employment, shall be paid by Seller or the manager, as the case may be. Effective as of the Closing Date, the Seller shall terminate the existing manager of the Project and any Project Contracts not assigned to Purchaser.

Operation of Project. 12.1 From and after the date hereof to the Closing Contribution Date, Seller the Contributors shall: (a) continue to maintain, operate and conduct business at the Project Projects in substantially the same manner as prior to the date hereof; (b) perform all regular and emergency maintenance and repairs with respect to the ProjectProjects; (c) keep the Project Projects insured against all usual risks and will maintain in effect all insurance policies now maintained on the same; (d) not sell, assign or convey any right, title or interest in any part of the ProjectProjects; and (e) not change the operation or status of the Project Projects in any manner reasonably expected to impair or diminish its their value; and provided, however: (fi) not execute, amend or extend any no Tenant Lease shall be executed or extended for a term in excess of one year year; (ii) no Tenant Lease shall be executed or providing for extended at a rental rate that is less than the present rental for such space within such Project; and (iii) the Project plus any increase thereof contemplated in the Project’s operating budget, or otherwise terminate or waive any rights under the Tenant Leases. Further, the Seller Contributors shall at or prior to the Closing Contribution Date furnish Purchaser Sun with a copy of each new or renewal Tenant Leaselease. 12.2 The Purchaser Sun shall have the right, but not the obligation, to hire those employees of the Seller Contributors and the Project's Projects' management agent agent(s) who worked at or provided services to the ProjectProjects, effective as of the Closing Contribution Date. Upon the consummation of the transactions contemplated herein, such employees will remain employees of Seller the Contributors or the manager unless expressly retained by PurchaserSun, and all compensation and fees due such employees, including any amount payable or that becomes payable as a result of the termination of the employees, and all costs and taxes attributable to such employment, shall be paid by Seller the Contributors or the manager, as the case may be. Effective as of the Closing Contribution Date, the Seller Contributors shall terminate the existing manager manager(s) of the Project Projects and any Project Contracts not assigned to PurchaserSun.

Operation of Project. 12.1 From and after the date hereof to the Closing Contribution Date, Seller the Contributor shall: (a) continue to maintain, operate and conduct business at the Project in substantially the same manner as prior to the date hereof; (b) perform all regular and emergency maintenance and repairs with respect to the Project; (c) keep the Project insured against all usual risks and will maintain in effect all insurance policies now maintained on the same; (d) not sell, assign or convey any right, title or interest in any part of the Project; and (e) not change the operation or status of the Project in any manner reasonably expected to impair or diminish its value; and provided, however: (fi) not execute, amend or extend any no Tenant Lease shall be executed or extended for a term in excess of one year year; (ii) no Tenant Lease shall be executed or providing for extended at a rental rate that is less than the present rental for such space within the Project plus any increase thereof contemplated in Project; and (iii) the Project’s operating budget, or otherwise terminate or waive any rights under the Tenant Leases. Further, the Seller Contributor shall at or prior to the Closing Contribution Date furnish Purchaser Sun with a copy of each new or renewal Tenant Leaselease. 12.2 The Purchaser Sun shall have the right, but not the obligation, to hire those employees of the Seller Contributor and the Project's management agent who worked at or provided services to the Project, effective as of the Closing Contribution Date. Upon the consummation of the transactions transaction contemplated herein, such employees will remain employees of Seller the Contributor or the manager unless expressly retained by PurchaserSun, and all compensation and fees due such employees, including any amount payable or that becomes payable as a result of the termination of the employees, and all costs and taxes attributable to such employment, shall be paid by Seller the Contributor or the manager, as the case may be. Effective as of the Closing Contribution Date, the Seller Contributor shall terminate the existing manager of the Project and any the Project Contracts not assigned to PurchaserSun.