Common use of Operation of the Property Prior to Closing Clause in Contracts

Operation of the Property Prior to Closing. Prior to Closing: (a) Seller shall comply with all of the obligations of landlord under the Leases and all other agreements and contractual arrangements affecting the Property by which Seller is bound. (b) Seller shall promptly notify Buyer of Seller’s receipt of any notice from the building tenants alleging that Seller is in default of its obligations under any of the Leases or any permit or agreement to which Seller is a party, affecting the Property, or any portion or portions thereof. (c) From and after the expiration of the Due Diligence Period, no contract for or on behalf of or affecting the Property shall be negotiated or entered into by Seller which cannot be terminated by Seller prior to Closing without charge, cost, penalty or premium. (d) From and after the expiration of the Due Diligence Period until Closing, Seller shall maintain the Contract Rights, Records and Plans, Guarantees if any and Warranties, and Licenses and Permits in full force and effect as applicable and shall not terminate, modify or waive any provision thereof. Seller shall not enter into any new contracts or agreements relating to the Property without Buyer’s prior written consent.

Operation of the Property Prior to Closing. Prior to Closing:closing, (a) The Property shall be operated, managed and maintained in a reasonable, professional and prudent manner, and kept in its present condition, reasonable wear and tear excepted. (b) Seller shall comply with all of the obligations of landlord under the Leases and all other agreements and contractual arrangements affecting the Property by which Seller is bound. (bc) Seller promptly shall promptly notify Buyer of Seller’s 's receipt of any notice from the building tenants any party alleging that Seller is in default of its obligations under any of the Leases or any permit or agreement to which Seller is a party, affecting the Property, or any portion or portions thereof. (cd) From and after the expiration of the Due Diligence Period, no No contract for or on behalf of or affecting the Property shall be negotiated or entered into by Seller after the date hereof which cannot be terminated by Seller prior to Closing without charge, cost, penalty or premium. (de) From and after the After expiration of the Due Diligence Period until ClosingPeriod, Seller shall maintain the Contract Rights, Records and Plans, Guarantees if any and Warranties, and Licenses and Permits in full force and effect as applicable and shall not terminate, modify or waive any provision thereof. Seller shall not enter into any new contracts or agreements relating to leases for any portion of the Property without Buyer’s 's consent, which shall not be unreasonably withheld, conditioned or delayed. Buyer shall be notified as to any modification as to existing leases or the execution of any new lease prior written consent.to expiration of the Due Diligence Period by Seller and shall receive copies of the proposed or entered into agreements or understandings if in writing, or, if not then a synopsis of the understanding of the parties for review..

Operation of the Property Prior to Closing. Prior to Closing: (a) Seller shall comply with all of the obligations of landlord under the Leases Master Lease and all other agreements and contractual arrangements affecting the Property by which Seller is bound. (b) Seller shall promptly notify Buyer of Seller’s receipt of any notice from the building tenants Operator alleging that Seller is in default of its obligations under any of the Leases Master Lease or any permit or agreement to which Seller is a party, affecting the Property, or any portion or portions thereof. (c) From and after the expiration of the Due Diligence Period, no contract for or on behalf of or affecting the Property shall be negotiated or entered into by Seller which cannot be terminated by Seller prior to Closing without charge, cost, penalty or premium. (d) From and after the expiration of the Due Diligence Period until Closing, Seller shall maintain the Contract Rights, Records and Plans, Guarantees if any and Warranties, and Licenses and Permits in full force and effect as applicable and shall not terminate, modify or waive any provision thereof. Seller shall not enter into any new contracts or agreements relating to the Property without Buyer’s prior written consent.