Operation of Properties Prior to Closing Sample Clauses

Operation of Properties Prior to Closing. Prior to each Closing for each respective Property, Contributor agrees that it shall maintain, repair, lease, manage and operate the Properties in substantially the same manner as Contributor has operated, managed, leased, maintained and repaired the Properties prior to the date of this Agreement. As it relates to each Property, from and after the date hereof and through the Closing Date for each such Property, or earlier termination of this Agreement, Contributor shall not (a) remove any material assets, fixtures, equipment or personal property therefrom (not including any of the foregoing items to the extent owned by tenants or other occupants of the Properties) unless the same are replaced with similar items of at least equal quality prior to the Closing, (b) modify or amend in any material respect adverse to the landlord, extend, renew or terminate any material Service Contract, Brokerage Agreement or existing property management contracts (except as set forth in Section 7.08) or enter into any new Service Contract (except as set forth in Section 7.02), Brokerage Agreement or existing property management contracts, without the prior consent of the Company, which consent shall not be unreasonably withheld, conditioned or delayed, (c) accept rent from any tenant more than one (1) month in advance (except as otherwise consistent with past practice), and (d) amend any Lease in any material respect adverse to the landlord thereunder or enter into any new or renewal lease, license or other agreement for other than customary and market terms affecting the ownership or operation of all or any portion of any Property, without the prior consent of the Company, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, Contributor may amend any Lease, or execute any new or renewal lease, license or other agreement to the extent consistent with (or more favorable to the landlord than) the DYNA Models without the prior consent of the Company. Any Lease or Service Contract submitted in writing by Contributor to the Company for approval and not objected to in a writing given by the Company to Contributor within five (5) Business Days after the Company's receipt thereof shall be deemed approved by the Company. For purposes of this Agreement, the term "Business Days" shall mean any day other than a Saturday, Sunday and bank holiday in New York State; if any date on which a party hereunder is required to perform or pay any amount is not...
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Operation of Properties Prior to Closing. Summerfield covenants and agrees with Patriot that, between the Effective Date (or such other date as specified below) and the Closing Date:
Sample 1

Related to Operation of Properties Prior to Closing

  • Operations Prior to Closing Between the date of the execution of this Agreement and Closing:

  • Operation of Properties The Borrower will and will cause each Subsidiary to operate its Properties or cause such Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements.

  • Condition of Properties All facilities, machinery, equipment, fixtures and other properties owned, leased or used by the Company are in reasonably good operating condition and repair, subject to ordinary wear and tear, and are adequate and sufficient for the Company’s business.

  • Release of Properties From time to time the Borrower may request, upon not less than 10 days prior written notice to the Administrative Agent (or such shorter period as may be acceptable to the Administrative Agent in its sole discretion), that a Borrowing Base Asset be no longer considered a Borrowing Base Asset, which release (a “Property Release”) shall be effected by the Administrative Agent if the Administrative Agent determines all of the following conditions are satisfied as of the date of such Property Release:

  • Events Prior to Closing (a) Upon execution hereof or as soon thereafter as practical, management of AAI and QMT shall execute, acknowledge and deliver (or shall cause to be executed, acknowledged and delivered) any and all certificates, opinions, financial statements, schedules, agreements, resolutions, rulings or other instruments required by this Agreement to be so delivered, together with such other items as may be reasonably requested by the parties hereto and their respective legal counsel in order to effectuate or evidence the transactions contemplated hereby, subject only to the conditions to Closing referenced hereinbelow.

  • Actions Prior to Closing From the date hereof until the Closing Date, Contributor shall not take any action or fail to take any action the result of which could (1) have a material adverse effect on the Contributed Interests or the Operating Partnership’s ownership thereof, or any Material Adverse Effect on any Contributed Entity or Property after the Closing Date or (2) cause any of the representations and warranties contained in this Section 2.2 to be untrue as of the Closing Date.

  • Existence; Compliance with Laws; Businesses and Properties (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.05.

  • Operation of Property To continue to operate the Property consistent with past practices.

  • Title to Properties; Priority of Liens Each Borrower and Subsidiary has good and marketable title to (or valid leasehold interests in) all of its Real Estate, and good title to all of its personal Property, including all Property reflected in any financial statements delivered to Agent or Lenders, in each case free of Liens except Permitted Liens. Each Borrower and Subsidiary has paid and discharged all lawful claims that, if unpaid, could become a Lien on its Properties, other than Permitted Liens. All Liens of Agent in the Collateral are duly perfected, first priority Liens, subject only to Permitted Liens that are expressly allowed to have priority over Agent’s Liens.

  • OBLIGATIONS PRIOR TO CLOSING From the date of this Agreement through the Closing:

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