Seller’s Obligations Pending Closing. (a) Subject to the provisions of Paragraphs 13 and 14 hereof, and except to the extent that such maintenance is the obligation of any Tenant under the Leases, until Closing, each Respective Seller shall operate and maintain the Respective Seller’s Property in substantially the same manner being operated and maintained by the Respective Seller on the Effective Date, normal wear and tear excepted. Prior to Closing, each Respective Seller shall also maintain its existing fire and extended coverage insurance, if any, with respect to the Respective Seller’s Property.
Appears in 4 contracts
Samples: Purchase and Sale Agreement and Joint Escrow Instructions, Purchase and Sale Agreement and Joint Escrow Instructions, Purchase and Sale Agreement and Joint Escrow Instructions
Seller’s Obligations Pending Closing. (a) Subject to the provisions of Paragraphs 13 and 14 hereof, and except to the extent that such maintenance is the obligation of any Tenant tenant under the Leases, until Closing, each Respective Seller shall operate and maintain the Respective Seller’s Property in substantially the same manner being operated and maintained by the Respective Seller its condition existing on the Effective Date, normal wear and tear excepted. Prior to Closing, each Respective Seller shall also maintain its existing fire and extended coverage insurance, if any, with respect to the Respective Seller’s PropertyProperty and continue to operate the Property in the manner operated as of the Effective Date.
Appears in 2 contracts
Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Cole Corporate Income Trust, Inc.), Purchase and Sale Agreement and Joint Escrow Instructions (Cole Corporate Income Trust, Inc.)
Seller’s Obligations Pending Closing. (a) Subject to the provisions of Paragraphs Sections 13 and 14 hereof, and except to the extent that such maintenance is the obligation of any a Tenant under the Leasesa Lease or of a Resident under a Resident Agreement, until Closing, each Respective Seller shall operate and maintain the Respective Seller’s Real Property in substantially the same manner being operated and maintained by the Respective Seller condition existing on the Effective Date, normal wear and tear excepted. Prior to Closing, each Respective and Seller shall also maintain its existing fire and extended coverage insurance, if any, with respect continue to operate the Respective Seller’s PropertyProperty in the manner operated as of the Effective Date.
Appears in 1 contract
Samples: Purchase and Sale Agreement (NorthStar Healthcare Income, Inc.)
