SELLER’S OBLIGATIONS PRIOR TO CLOSING. Seller covenants that between the date of this Agreement and the Closing:
SELLER’S OBLIGATIONS PRIOR TO CLOSING. Until Closing, Seller and/or Seller’s agents or representatives shall:
SELLER’S OBLIGATIONS PRIOR TO CLOSING a. Sellers agree that, until the Time of Closing, Sellers shall:
i. Operate, maintain, and rent the Premises substantially in accordance with past practice.
ii. Promptly pay all amounts due and owing under the Loan Documents and comply with all other obligations thereunder in all material respects. In addition, Sellers shall not hereafter execute, enter into or consent to any modification, amendment or termination of any Loan Documents, or make any material elections or waivers thereunder, unless Sellers have obtained Buyers’ prior written consent thereto (which may be exercised in Buyers’ sole discretion).
iii. maintain in full force and effect the insurance policies relating to the Premises in effect on the date hereof (provided that Buyers acknowledge that no insurance policies of Sellers are to be transferred to Buyers, no apportionment of the premiums therefor shall be made, and Buyers are responsible for securing their own insurance for the Premises);
iv. not grant any lien or encumbrance on the Premises without the prior consent of Buyers (it being agreed that any lien or encumbrance granted by Seller or its affiliates in violation of this covenant shall constitute a “Must-Cure Item” for all purposes herein);
v. From and after the Effective Date, Sellers (a) shall perform their respective obligations under all of the Leases, (b) shall not enter into any new, or amend in any material respects, any leasing agreements or management agreements, or (c) enter into any new Service Contracts, or amend, modify or terminate any existing Service Contracts, in each case without Buyer’s prior written consent, which consent shall not be unreasonably withheld, except that, during the Due Diligence Period, Seller may enter into new Service Contracts (other than Radon Mitigation Contracts), and amend, modify or terminate existing Service Contracts, in each case without Buyers’ prior approval, so long as the Service Contract at issue is (and continues to be), by its terms, terminable or cancelable as of Closing without penalty, cost or liability, and terminable or cancelable at any time on not more than thirty (30) days’ prior notice, without penalty, cost or liability.
vi. allow Buyers, its agents, employees, contractors, consultants and other representatives, reasonable access to the Premises in accordance with the provisions of this Agreement;
vii. After the Date of this Agreement, make available for inspection by Buyers at the Premises and/or electronically all E...
SELLER’S OBLIGATIONS PRIOR TO CLOSING. Seller covenants that between the date of this Agreement and the Closing Date:
a. Seller shall not, without Purchaser's prior written consent (i) enter into any lease for an apartment unit with a first-time tenant unless the lease is for a period of no more than one year and the rent shall be not less than the amount currently being charged for similar apartment units; nor (ii) enter into, amend, renew or extend any lease for an apartment unit with an existing tenant unless the lease is for a period of not more than one year and the rent for the amended, renewal or extension term shall not be less than the rent currently paid by such tenant; nor
SELLER’S OBLIGATIONS PRIOR TO CLOSING. Seller covenants the following between the Effective Date and the applicable Closing:
SELLER’S OBLIGATIONS PRIOR TO CLOSING. As a material inducement to Purchaser entering into this Agreement and as a condition to Purchaser’s obligations hereunder:
(a) Between the Effective Date and Closing, Seller shall:
(i) perform all obligations of Seller as owner of the Property including compliance with all laws and ordinances affecting ownership of the Property.
(ii) not enter into or amend, any leases or service agreements for the Property, or amend any agreements already in existence as of the Effective Date, without first obtaining Purchaser’s written consent thereto, which may not be unreasonably withheld by Purchaser.
(b) Without first obtaining Purchaser’s consent thereto, which consent may be withheld in Purchaser’s sole discretion, Seller shall not transfer or convey any interest in the Property, other than to Purchaser.
SELLER’S OBLIGATIONS PRIOR TO CLOSING. Seller agrees to do the following prior to Closing:
SELLER’S OBLIGATIONS PRIOR TO CLOSING. XXXXXX agrees that from the date hereof through the Closing Date:
(a) SELLER shall maintain in full force and effect the insurance policies relating to the Premises in effect on the date hereof (it being acknowledged that all risk of loss with respect to the Premises resides with SELLER until BUYER purchases the same);
(b) SELLER shall promptly deliver to BUYER any written notices relating to the Premises received by SELLER, including notices from any federal, state, regional, county, municipal or other governmental department, agency, board or authority regarding the Premises;
(c) SELLER shall not grant any encumbrance or lien on any portion of the Premises; and
(d) SELLER shall not take any action with respect to the Premises with respect to zoning or the use of the Premises, except such assistance as requested by BUYER in connection with the Comprehensive Permit and other matters needed to gain approval for the Project. Any request for BUYER’s consent pursuant to this Section 9 shall be in writing. BUYER shall have a period of ten (10) business days after receipt of such request to notify SELLER in writing of its objections, if any, to SELLER’s proposed activity or transaction pursuant to this Section 9. In the event that BUYER fails to so notify SELLER of its objections to SELLER’s proposed activity or transaction pursuant to this Section 9 within such time period, it shall be conclusively presumed that BUYER has approved the terms thereof, and SELLER may enter into such activity or transaction on the proposed terms.
SELLER’S OBLIGATIONS PRIOR TO CLOSING. From and after the Effective Date and until Closing, or earlier termination of this Agreement, Seller and/or Seller's agents or representatives shall:
SELLER’S OBLIGATIONS PRIOR TO CLOSING. Section 7
