Common use of Termination of Existing Leases Clause in Contracts

Termination of Existing Leases. Notwithstanding anything to the contrary contained in this Agreement, the Seller may, with the written consent of the Purchaser, which consent shall not be unreasonably withheld (and which consent shall be deemed given three (3) business days following the Seller's notifying the Purchaser of its proposed action under this Section 10.2, unless Purchaser expressly objects to such action in writing prior to such time), but is not obligated, to institute summary proceedings against any tenant or terminate any Lease as a result of a default by the tenant thereunder prior to the Closing Date. The Seller makes no representations and assumes no responsibility with respect to (i) the continued occupancy of the Property or any part thereof by any tenant and (ii) the fulfillment by any tenant of its obligations under any Lease. The removal of a tenant whether by summary proceedings or otherwise prior to the Closing Date shall not give rise to any claim on the part of the Purchaser. Further, the Purchaser agrees that it shall not be grounds for the Purchaser's refusal to close this transaction that any tenant is a holdover tenant or in default under its Lease pursuant to any economic or non-economic terms of its Lease on the Closing Date and the Purchaser shall accept title subject to such holding over or default without credit against, or reduction of, the Purchase Price.

Termination of Existing Leases. Notwithstanding anything to the contrary contained in this Agreement, the Seller Acquired Partnership may, with the written consent of the Purchaser, which consent shall not be unreasonably withheld (and which consent shall be deemed given three (3) business days following the Seller's notifying the Purchaser of its proposed action under this Section 10.2, unless Purchaser expressly objects to such action in writing prior to such time), but is not obligated, to institute summary proceedings against any tenant or terminate any Lease as a result of a default by the tenant thereunder prior to the Closing Date. The Neither the Seller nor the Acquired Partnership makes no any representations and nor assumes no any responsibility with respect to (i) the continued occupancy of the Property or any part thereof by any tenant and (ii) the fulfillment by any tenant of its obligations under any Lease. The removal of a tenant whether by summary proceedings or otherwise prior to the Closing Date shall not give rise to any claim on the part of the Purchaser. Further, the Purchaser agrees that it shall not be grounds for the Purchaser's refusal to close this transaction that any tenant is a holdover tenant or in default under its Lease pursuant to any economic or non-economic terms of its Lease on the Closing Date and the Purchaser shall accept title subject to such holding over or default without credit against, or reduction of, the Purchase Price.

Termination of Existing Leases. Notwithstanding anything to the contrary contained in this Agreement, the Seller may, with reserves the written consent of the Purchaser, which consent shall not be unreasonably withheld (and which consent shall be deemed given three (3) business days following the Seller's notifying the Purchaser of its proposed action under this Section 10.2, unless Purchaser expressly objects to such action in writing prior to such time)right, but is not obligated, to institute summary proceedings against any tenant or terminate any Lease as a result of a default by the tenant thereunder prior to the Closing Date. In the event the Seller institutes such summary proceedings against a tenant or terminates any Lease, the Seller shall promptly provide the Purchaser with notice thereof. The Seller makes no representations and assumes no responsibility with respect to (i) the continued occupancy of the Property or any part thereof by any tenant and (ii) the fulfillment by any tenant of its obligations under any Lease. The Except as otherwise expressly provided in Section 8.1(iv), the removal of a tenant whether by summary proceedings or otherwise prior to the Closing Date shall not give rise to any claim on the part of the Purchaser. Further, except as otherwise expressly provided in Section 8.1(iv), the Purchaser agrees that it shall not be grounds for the Purchaser's refusal to close this transaction that any tenant is a holdover tenant or in default under its Lease pursuant to any economic or non-economic terms of its Lease on the Closing Date and the Purchaser shall accept title subject to such holding over or default without credit against, or reduction of, the Purchase Price.