Operation of Property Pending Closing Sample Clauses

Operation of Property Pending Closing. From the date of the Purchase Notice through the Closing, Seller will conduct Seller's business operations using the Property diligently in substantially the same manner as theretofore conducted and in accordance with the Management Agreement. From the date of the Purchase Notice through the Closing, Seller will not do or permit the occurrence of any act with respect to the Property that, if done or permitted to occur on or prior to the date of the Purchase Notice, would constitute a breach of the representations, warranties and agreements made by Seller in this exhibit, or sell, transfer, donate, pledge or otherwise dispose of or encumber any of the Property other than inventory to be sold or used in the ordinary course of Seller's business and consistent with Seller's past practices.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Operation of Property Pending Closing. 8.1 During the pendency of this Agreement upon the request of Purchaser (but in no event more frequently than two (2) per month) and at Closing upon the request of Purchaser, Seller shall deliver to Purchaser an updated Rent Roll, which Rent Roll shall be true, correct and complete as of the last day of the immediately preceding accounting month-end. During normal business hours, and upon reasonable advance notice, Seller shall make available to Purchaser for review at Seller’s offices at the Property full, true, correct and complete copies of all Tenant Leases as are in effect on the Execution Date and thereafter.
Sample 1Sample 2
Operation of Property Pending Closing. (a) Tenant Leases. Seller has leased portions of the Property to various occupancy tenants. From and after the date of execution of this Agreement and until the Closing Date Seller shall not enter into any new leases or amend or extend, terminate or accept the surrender of any existing tenancies or approve any subleases without the prior written consent of Purchaser (which consent shall not be unreasonably delayed or withheld). In requesting such consent, Seller shall inform Purchaser in writing of the amount, if any, proposed to be required to pay for, or any allowance proposed to be given for, tenant improvement work, any leasing commissions and fees, in connection with such lease and any rent concessions. Also included in the request for consent, shall be Seller's proposed draft of the lease or amendment agreement. The failure of Purchaser to respond within five (5) business days after written request for any such approval shall be deemed to constitute approval. Seller shall not collect in advance any rent or other sum due under any of the Tenant Leases, except for collection of current rents no more than one month in advance. (b)
Sample 1
Operation of Property Pending Closing. During the period from the date hereof until the Closing Date, Seller and Hillsdale, as manager, shall continue to operate and maintain each Facility in the ordinary course of business and in a manner consistent with Seller's past practice (including retaining Hillsdale as manager) and will not take any action or fail to take action that would be inconsistent with this Agreement or the consummation of the Closing. Without limiting the generality of the foregoing, without the prior written consent of Buyer (which consent shall not be unreasonably withheld or delayed), Seller shall not:
Sample 1
Operation of Property Pending Closing. (a) TENANT LEASES. Partnership has leased portions of the Property to various occupancy tenants. From and after the date of execution of this Agreement and until the Closing Date Partnership shall not enter into any new leases or amend or extend, terminate or accept the surrender of any existing tenancies or approve any subleases without the prior written consent of Contributor (which consent shall not be unreasonably delayed or withheld); provided, however, Partnership shall have the power and authority to enter into leases with terms of one (1) year or less (except to affiliates of the partners of the Partnership) which provide for rent which qualifies as "rents from real property" under IRC Section 856(d) and which require no significant tenant improvement allowance in excess of painting, papering and carpet cleaning from Partnership without Contributor's prior consent. In requesting such consent, Partnership shall inform Contributor in writing of
Sample 1
Operation of Property Pending Closing. (a) Tenant Leases. Seller has leased portions of the Property to various occupancy tenants. From and after the Effective Date and until the Closing Date Seller shall not enter into any new leases or amend or extend, terminate or accept the surrender of any existing tenancies (unless the existing lease expires) or approve any new subleases (collectively, "Lease Action") without the prior written consent of Purchaser (which consent shall not be unreasonably delayed or withheld). In requesting such consent, Seller shall inform Purchaser in writing ("Request for Consent") of the amount, if any, proposed to be required to pay for, or any allowance proposed to be given for, tenant improvement work, any leasing commissions and fees, in connection with such lease and any rent concessions. Notwithstanding the foregoing, Lease Action meeting all of the requirements of Schedule 2 attached hereto and made a part hereof shall be deemed approved and consented to by Purchaser and may be taken by Seller. Also included in the Request for Consent, shall be Seller's proposed draft of the lease or amendment agreement. Purchaser shall use its best efforts to approve or disapprove any Request for Consent as soon as possible; provided, however, that the failure of Purchaser to respond within five (5) days after its receipt of any Request for Consent shall be deemed to constitute its approval of such Request for Consent. From the date that Purchaser receives any Request for Consent through the date of the Closing or any termination of this Agreement, Purchaser shall not engage in any competitive lease negotiations with or enter into any lease, with any proposed tenant disclosed by any Request for Consent, with respect to any other property. If Purchaser shall timely object to and/or disapprove of any Lease Action proposed to be taken by Seller (requiring Purchaser's consent as provided herein) prior to the expiration of the Approval Period, Seller, nevertheless, can take such Lease Action which, upon written notice by Seller to Purchaser, shall entitle Purchaser to an option to terminate this Agreement for a period of five (5) business days following Purchaser's receipt of such notice. Purchaser's failure to timely exercise its option to terminate shall be deemed to be its election to waive its objection to such Lease Action by Seller. If Purchaser shall timely object to and/or disapprove of any Lease Action proposed to be taken by Seller after the expiration of the Approval Peri...
Sample 1
Operation of Property Pending Closing. (a) Seller shall keep all insurance policies covering the Property in force and in effect between the date of this Agreement and Closing.
Sample 1
AutoNDA by SimpleDocs
Operation of Property Pending Closing. During the period from the date hereof until the Closing Date, Hillsdale shall continue to operate and maintain each Facility in the ordinary course of business and in a manner consistent with Hillsdale's past practice and will not take any action or fail to take action that would be inconsistent with this Agreement or the consummation of the Closing. Without limiting the generality of the foregoing, without the prior written consent of Buyer (which consent shall not be unreasonably withheld or delayed), Hillsdale shall not:
Sample 1
Operation of Property Pending Closing 
Sample 1Sample 2Sample 3See All (8)

Related to Operation of Property Pending 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.

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

  • Operations Pending Closing From the date hereof through the Closing Date, Seller agrees as follows:

  • 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.

  • Operations Prior to the Closing Date (a) Seller shall use its commercially reasonable efforts to, and to cause the Companies to, operate and carry on the Business in the ordinary course and substantially as operated immediately prior to the date of this Agreement. Consistent with the foregoing, Seller shall use its commercially reasonable efforts, and shall cause the Companies to use their commercially reasonable efforts, consistent with good business practice, to preserve the goodwill of the suppliers, contractors, licensors, employees, customers, distributors and others having business relations with the Business.

  • Existence; Business 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, in the case of a Subsidiary of the Borrower, where the failure to do so would not reasonably be expected to have a Material Adverse Effect, and except as otherwise permitted under Section 6.05, and except for the liquidation or dissolution of Subsidiaries if the assets of such Subsidiaries to the extent they exceed estimated liabilities are acquired by the Borrower or a Wholly Owned Subsidiary of the Borrower in such liquidation or dissolution; provided, that Subsidiary Loan Parties may not be liquidated into Subsidiaries that are not Loan Parties and Domestic Subsidiaries may not be liquidated into Foreign Subsidiaries (except in each case as permitted under Section 6.05).

  • Existence, Properties, Etc (a) The Company shall do, or cause to be done, all things, or proceed with due diligence with any actions or courses of action, that may be reasonably necessary (i) to maintain Company's due organization, valid existence and good standing under the laws of its state of incorporation, and (ii) to preserve and keep in full force and effect all qualifications, licenses and registrations in those jurisdictions in which the failure to do so could have a Material Adverse Effect (as defined below); and (b) the Company shall not do, or cause to be done, any act impairing the Company's corporate power or authority (i) to carry on the Company's business as now conducted, and (ii) to execute or deliver this Agreement or any other document delivered in connection herewith, including, without limitation, any UCC-1 Financing Statements required by the Secured Party to which it is or will be a party, or perform any of its obligations hereunder or thereunder. For purpose of this Agreement, the term "

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!