Common use of Seller’s Negative Covenants Clause in Contracts

Seller’s Negative Covenants. Until Closing, Seller shall not do any of the following with regard to the Subject Property without first obtaining the prior, written consent of Buyer: i) Release all or any portion of a Lease, Contract or Easement; provided, however, that a Lease may expire by its own terms, with no obligation on Seller to renew or extend the Lease; ii) Create a lien, security interest or other encumbrance on the Subject Property other than a Permitted Encumbrance; iii) Amend a Lease, Contract or Easement or enter into any new contracts which affect the Subject Property; or iv) Waive, comprise or settle any claim that would materially affect ownership, operation or value of any of the Subject Property.

Seller’s Negative Covenants. Until Closing, Seller shall not do any of the following with regard to the Subject Property without first obtaining the prior, written consent of Buyer: i) Release all or any portion of a Lease, Contract or Easement; provided, however, that a Lease may expire by its own terms, with no obligation on Seller to renew or extend the Lease; ii) Create a lien, security interest or other encumbrance on the Subject Property other than a Permitted Encumbrance; iii) Amend a Lease, Contract or Easement or enter into any new contracts which affect the Subject Property; or iv) Waive, comprise compromise or settle any claim that would materially affect ownership, operation or value of any of the Subject Property.