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Material Contracts
Material Contracts contract clause examples

New Contracts. Seller will not enter into any contract that will be an obligation affecting any one of the Properties subsequent to the Closing, except contracts entered into in the ordinary course of business that are terminable without cause and without the payment of any termination penalty on not more than thirty (30) days’ prior notice.

New Contracts. Except as provided in Section 6.1.4, Seller will not enter into any contract that will be an obligation affecting the Property subsequent to the Closing, except contracts entered into in the ordinary course of business that are terminable without cause and without the payment of any termination penalty on not more than 30 days' prior notice.

New Contracts. During the pendency of this Agreement, Seller will not enter into any contract that will be an obligation affecting the Property subsequent to the Closing, except contracts entered into in the ordinary course of business that are terminable without cause on not more than 30-days’ notice and without payment of a termination fee (other than in a nominal amount) which could be binding on Purchaser or the Property after Closing, without the prior consent of the Purchaser, which shall not be unreasonably withheld, conditioned or delayed, except that from and after the expiration of the Due Diligence Period, Purchaser may withhold its consent thereto in its sole and absolute discretion. In connection with any request for such consent, if Purchaser fails to object in writing to any such agreement within three (3) business days after receipt thereof, Purchaser will be deemed to have approved Seller’s entering into such new contract or agreement. Any notice from Purchaser rejecting the new contract or agreement shall include a description of the reasons for Purchaser’s rejection.

New Contracts. Without Purchaser’s prior written consent in each instance (which consent shall not be unreasonably withheld, conditioned or delayed), Seller will not enter into or amend, terminate, waive any default under, or grant concessions regarding any contract or agreement that will be an obligation affecting the Property or binding on the Purchaser after the Closing except contracts entered into in the ordinary course of business that are terminable without cause or penalty on 30-days’ notice (and Seller agrees to terminate any such contracts by the Closing Date unless otherwise requested by Purchaser prior to the expiration of the Due Diligence Period) (“New Contracts”). Seller shall be solely responsible for the payment of any termination fees, penalties or other related expenses due and owing under any of the New Contracts in connection with the termination of same, said payments to be made to any such New Contract provider on or prior to the Closing Date

No New Agreements. Seller shall not enter into any new Contract or other agreement affecting the Premises which will be an obligation binding upon Purchaser or the Premises subsequent to Closing, except for # the Lease Termination Agreements (as defined below) and/or # any Contracts entered into in the ordinary course of business that are terminable without cause upon thirty (30) days’ (or less) notice but in no event later than Closing and without penalty or cancellation fee. Seller shall terminate each Contract without cost, liability, or expense to Purchaser and deliver evidence of the same at Closing.

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