Common use of Property Management and Operation Clause in Contracts

Property Management and Operation. Seller shall maintain the operation of the Property in a good and business-like manner. Seller shall provide all services and operate, manage and maintain the Property (including mechanical equipment of every kind used in the operation thereof) in such a manner that the Property shall be in the same condition on the Closing Date as on the date of this Agreement, ordinary wear and tear excepted. Without limiting the foregoing, Seller shall perform all of its obligations under the Leases and the Service Contracts.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Arden Realty Inc), Agreement of Purchase and Sale and Joint Escrow Instructions (Arden Realty Inc)

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Property Management and Operation. Seller shall maintain the operation of the Property in a good and business-like manner. Seller shall provide all services and operate, manage and maintain the Property (including mechanical equipment of every kind used in the operation thereof) in such a manner that the Property shall be in the same condition on the Closing Date as on the date of this Agreement, ordinary wear and tear excepted. Without limiting the foregoing, Seller shall perform all of its obligations under the Leases Lease and the Service Contracts.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Arden Realty Inc)

Property Management and Operation. Seller shall maintain the operation of the Property in a good and business-like manner. Seller shall provide all services and operate, manage and maintain the Property (including mechanical equipment of every kind used in the operation thereof) in such a manner that the Property shall be in the same condition on the Closing Date as on the date of this Agreement, ordinary wear and tear excepted. Without limiting the foregoing, Seller shall perform all of its obligations under the Leases and the Service Contracts.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Arden Realty Inc)

Property Management and Operation. Seller shall maintain the operation of the Property in a good and business-like manner. Seller shall provide all services and operate, manage and maintain the Property (including mechanical equipment of every kind used in the operation thereof) in such a manner that the Property shall be in the same condition on the Closing Date as on the date of this Agreement, ordinary wear and tear excepted. Without limiting the foregoing, Seller shall perform all of its material obligations under the Leases and the Service ContractsContracts and shall terminate the management agreement and leasing agreement with PM Realty at the Close of Escrow.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Escrow Instructions (Arden Realty Inc)

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Property Management and Operation. Seller shall maintain the operation of the Property in a good and business-like manner. Seller shall provide all services and operate, manage and maintain the Property (including mechanical equipment of every kind used in the operation thereof, and liability and casualty insurance) in such a manner that the Property shall be in the same condition on the Closing Date as on the date of this Agreement, ordinary wear and tear excepted. Without limiting the foregoing, Seller shall perform all of its obligations under the Leases and the Service Contracts.

Appears in 1 contract

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Arden Realty Inc)

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