Parks Operating Agreement. With respect to that certain Operating Agreement dated February 15, 2008, by and among RSP, as Operator, and Xxxxxxx, Xxxxxxx and certain Tag Right Holders and Third Parties, as Non-Operators, covering the so-called Parks Prospect (the “Parks JOA”), Sellers shall use commercially reasonable efforts to (a) on or before the Claim Date, obtain an amendment to the Parks JOA, executed by all parties thereto, which creates a separate Contract Area under the Parks JOA for those Lands acquired by Xxxxx; (b) on or before the Initial Closing, obtain a written waiver of the maintenance of uniform interest provision (Article VIII.D. of the Parks JOA) by the Third Parties to the Parks JOA and Tag Right Holders who are parties to the Parks JOA who do not enter into a Tag Along PSA, if any, and who would have a claim under the Parks JOA in the event such maintenance of uniform interest provision was breached as a result of the transactions contemplated hereby; and (c) on or before the Option Closing Date, obtain the joinder of the Third Parties to the Parks JOA and any Tag Right Holders who do not enter into a Tag Along PSA to a new operating agreement, in the form substantially the same as the Parks JOA, designating Buyer as Operator and covering a Contract Area limited to those Lands acquired by Buyer that were previously covered by the Parks JOA.
Parks Operating Agreement. The Parties may enter into operating agreements that provide LANDOWNER with reasonable control over the hours of public use of and the nature of uses in, and if legally permissible the collection of revenue from the use of, parks Developed within the Property and anticipate that such operating agreements may apply to the Central Shops Historic District, and Lots 2e, 31, 32, and 35.
