Service Contracts; Property Management Agreement. During the Evaluation Period, the parties will endeavor to agree as to which Service Contracts Purchaser will assume and which Service Contracts will be terminated by Seller at Closing. Purchaser will assume the obligations arising from and after the Closing Date under those Service Contracts that are not in default as of the Closing Date and which Seller and Purchaser have not agreed will be terminated. Seller shall terminate at Closing all Service Contracts that are not so assumed. If requested by Purchaser, Seller shall terminate at Closing, and Purchaser shall not assume, any property management agreement affecting the Property. Purchaser may not hire any on-site property management personnel, including those employed by Seller, without Seller's prior written consent.
Appears in 6 contracts
Samples: Agreement of Sale and Purchase (Mack Cali Realty L P), Agreement of Sale and Purchase (Mack Cali Realty Corp), Agreement of Sale and Purchase (Mack Cali Realty Corp)
