Amended or New Contracts. No Seller shall amend, supplement, modify or terminate any existing Service Contract, Material Contract, Lease or other agreement with respect to any Property or enter into any new Service Contract, Material Contract, Lease or other agreement with respect to the Property that (i) will be binding on Purchaser following the applicable Closing Date and (ii) will not be terminable by Purchaser without penalty upon no greater than 30 days’ notice, in each case, unless such Seller(s) (x) promptly deliver to Purchaser written notice and a copy thereof and (y) obtain Purchaser’s prior written consent thereto.
Appears in 2 contracts
Samples: Real Estate Purchase and Sale Agreement (Summit Hotel Properties, Inc.), Real Estate Purchase and Sale Agreement (American Realty Capital Hospitality Trust, Inc.)
Amended or New Contracts. No Seller shall amend, supplement, modify or terminate any existing Service Contract, Material Contract, Lease or other agreement with respect to any Property or enter into any new Service Contract, Material Contract, Lease or other agreement with respect to the Property that (i) will be binding on Purchaser following the applicable Closing Date and (ii) will not be terminable by Purchaser without penalty upon no greater than 30 days’ notice, in each case, unless such Seller(s) (x) promptly deliver to Purchaser written notice and a copy thereof and (y) obtain Purchaser’s prior written consent thereto.
Appears in 2 contracts
Samples: Real Estate Purchase and Sale Agreement (Summit Hotel Properties, Inc.), Real Estate Purchase and Sale Agreement (American Realty Capital Hospitality Trust, Inc.)
