Common use of Future Operations Clause in Contracts

Future Operations. (a) From the date of this Agreement until the Closing or earlier termination Agreement: (i) Seller will keep and maintain the Property in substantially its condition as of the date of this Agreement; (ii) Seller will perform all Seller's obligations under the Contracts and Leases. Seller will not, without the prior written consent of Purchaser, modify, enter into, or renew any Contract or Lease which cannot be canceled upon thirty (30) days' prior written notice. (iii) Seller will continue to manage the Property in a prudent mariner consistent with Seller's past practices. (b) Except with respect to the proposed lease with CDG, which Purchaser approved, from the Effective Date until the Closing or earlier termination of this Agreement. Seller will not lease any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld or delayed; provided however, this limitation upon Seller shall not apply with respect to lease renewals and lease extensions pursuant to rights granted under an existing lease. In addition, Seller shall not apply security deposits unless the corresponding tenant is out a f the demised premises by the Closing Date. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under any new lease entered into after the Effective Date (each a "New Lease") shall be paid by Purchaser in accordance with Section 6.6(c) hereof. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys' fees. Notwithstanding anything to the contrary contained herein, Seller will credit Purchaser at Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by Purchaser with respect to the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date') and expiring on the date immediately preceding the Closing Date, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreement. At the Closing, Purchaser shall reimburse Seller for all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentence.

Future Operations. (a) From the date of this Agreement until the Closing or earlier termination of this Agreement: (i) Seller will keep and maintain the Property in substantially its condition as of the date of this Agreement; (ii) Seller will perform all Seller's obligations under the Contracts and LeasesContracts. Seller will not, without the prior written consent of Purchaser, modify, enter into, or renew any Contract or Lease which cannot be canceled cancelled upon thirty (30) days' days prior written notice.; (iii) Seller will continue to manage the Property in a prudent mariner manner consistent with Seller's past practices. (b) Except with respect to the proposed lease with CDG, which Purchaser approved, from From the Effective Date until the Closing or earlier termination of this Agreement. , Seller will not lease any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld or delayed); provided however, this limitation upon Seller shall not apply with respect to lease renewals and lease extensions pursuant to rights granted under an existing lease. In addition, Seller shall not apply security deposits unless the corresponding tenant is out a f of the demised premises by the Closing Date. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under any new lease entered into after the Effective Date (each each, a "New Lease") shall be paid by Purchaser in accordance with Section 6.6(c) hereof. Said costs and -------------- expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys' attorney's fees. Notwithstanding anything to the contrary contained herein, Seller will credit Purchaser at Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by Purchaser with respect to the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date'") and expiring on the date immediately preceding the Closing Date, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an on the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In in the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreement. At the Closing, Purchaser shall reimburse Seller for all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die the New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentence.

Future Operations. (a) From the date of this Agreement until the Closing or earlier termination of this Agreement: (i) Seller will keep and maintain the Property in substantially its condition as of the date of this Agreement; (ii) Seller will perform all of Seller's obligations under the Contracts and LeasesContracts. Seller will not, without the prior written consent of Purchaser, modify, enter into, or renew any Contract or Lease which cannot be canceled cancelled upon thirty (30) days' days prior written notice. (iii) Seller will continue to manage the Property in a prudent mariner consistent with Seller's past practices. (b) Except with respect to the proposed lease with CDG, which Purchaser approved, from From the Effective Date until the Closing or earlier termination of this Agreement. , Seller will not lease any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld or delayed); provided provided, however, this limitation upon Seller shall not apply with respect to non-discretionary lease renewals and renewals, lease extensions extensions, rights of first refusal or offer, or options pursuant to rights granted under an leases existing leaseas of the Effective Date. In addition, Seller For purposes of this SECTION 9.1(b) it shall not apply security deposits unless be unreasonable for Purchaser to withhold its approval of any new lease so long as such new lease satisfies the corresponding tenant is out a f the demised premises by the Closing Dateapplicable minimum leasing parameters set forth on EXHIBIT I attached hereto. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under (i) any new lease entered into after the Effective Date and (each a "New Lease"ii) any extension, renewal or modification of an existing lease entered into after the Effective Date, shall be paid by Purchaser in accordance with Section 6.6(cSECTION 6.6(b) hereofof this Agreement. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorney's fees (provided that Purchaser shall only be obligated to reimburse Seller up to $1,500.00 for such reasonable attorneys' fees). Notwithstanding anything If Purchaser does not deliver written notice to the contrary contained hereinSeller of its approval or disapproval of any matters for which Seller seeks Purchaser's approval as set forth above within five (5) business days after Purchaser's receipt of Seller's request for such approval, Seller will credit Purchaser at Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by Purchaser with respect to the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date') and expiring on the date immediately preceding the Closing Date, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior have approved such matters and to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences have agreed to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreement. At the Closing, Purchaser shall reimburse Seller for assume all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentenceobligations with respect thereto.

Future Operations. (a) From the date Effective Date of this Agreement until the Closing or earlier termination Agreement: (i) Seller will keep and maintain the Property in substantially its condition as of the date of this Agreement; (ii) , Seller will shall perform all Seller's its obligations under the Contracts and LeasesLease. Seller will shall have no obligation to perform any repairs, make improvements, cure violations or take any other action at the Property, Seller shall be permitted to make Tenant Allowance and Broker’s Fee disbursements in accordance with the Lease. Seller shall not, without the prior written consent of Purchaser: (i) cancel, modifyterminate, enter intoamend, extend or otherwise modify the Lease, or renew any Contract (ii) accept a surrender of the Lease prior to the expiration date thereof, or Lease which cannot be canceled upon thirty (30) days' prior written notice. (iii) enter into any new leases or licenses or other occupancy agreements, or (iv) enter into service agreements or contracts unless such agreements and contracts are terminable and are terminated prior to or at Closing. Seller will continue shall deliver to manage Purchaser a notice of each proposed action for which Purchaser’s consent is required hereunder, setting forth such information as Seller believes is relevant thereto. Purchaser shall have five (5) business days after delivery to it of such notice to determine whether or not to consent to such action. If Purchaser shall not give notice of its approval within such five (5) business day period, Purchaser shall be deemed to have objected to such action. If the Property in a prudent mariner consistent with Lease requires that Seller's past practices. (b) Except ’s consent be given to any matter or not be unreasonably withheld delayed or conditioned with respect to a matter, Seller shall endeavor to advise Purchaser of any such requests; provided, however, that Seller may consent thereto. Concurrently with delivery or within two (2) business days following receipt, Seller shall deliver to Purchaser a copy of every notice sent to or received from Tenant under the proposed lease with CDGLease, which Purchaser approved, from the Effective Date until the Closing or earlier termination of this Agreementas applicable. Seller will not lease advise Purchaser promptly of any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld suit, action, arbitration, or delayed; provided however, this limitation upon Seller shall not apply with respect to lease renewals and lease extensions pursuant to rights granted under an existing lease. In addition, Seller shall not apply security deposits unless the corresponding tenant legal or other proceedings or governmental investigation which is out a f the demised premises by the Closing Date. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under any new lease entered into instituted after the Effective Date (each a "New Lease") and which concerns or affects Seller or the Property. It shall be paid by Purchaser in accordance with Section 6.6(c) hereof. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys' fees. Notwithstanding anything to the contrary contained herein, Seller will credit Purchaser at a condition of Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by benefit of Purchaser with respect to that Tenant has not abandoned the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date') and expiring on the date immediately preceding the Closing Date, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreement. At the Closing, Purchaser shall reimburse Seller for all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentencePremises.

Future Operations. (a) From the date of this Agreement until the Closing or earlier termination of this Agreement: (i) : Seller will keep shall operate and maintain the Property substantially in substantially its condition as of accordance with Seller’s past practices with respect to the date of this Agreement; (ii) Property, normal wear and tear excepted; Seller will perform all of Seller's ’s obligations under the Contracts and LeasesContracts. Seller will not, without the prior written consent of Purchaser, modify, enter into, or renew any Contract or Lease which cannot be canceled cancelled upon thirty (30) days' days prior written notice. (iii) Seller will continue to manage the Property in a prudent mariner consistent with Seller's past practices. (b) Except with respect to the proposed lease with CDG, which Purchaser approved, from . From and after the Effective Date until the Closing or earlier termination of this Agreement. , Seller will not lease any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld or delayed); provided provided, however, this limitation upon Seller shall not apply with respect to lease renewals and renewals, lease extensions extensions, rights of first refusal or offer, or options pursuant to rights granted under an leases existing lease. In addition, Seller shall not apply security deposits unless as of the corresponding tenant is out a f the demised premises by the Closing Effective Date. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under (i) any new lease entered into after the Effective Date and (each a "New Lease"ii) any extension, renewal or modification of an existing lease entered into after the Effective Date, shall be paid by Purchaser in accordance with Section 6.6(c6.6(b) hereofof this Agreement. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys' attorney’s fees. Notwithstanding anything If Purchaser does not deliver written notice to the contrary contained hereinSeller of its approval or disapproval of any matters for which Seller seeks Purchaser’s approval as set forth above within five (5) business days after Purchaser’s receipt of Seller’s request for such approval, Seller will credit Purchaser at Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by Purchaser with respect to the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date') and expiring on the date immediately preceding the Closing Date, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior have approved such matters and to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences have agreed to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreementassume all obligations with respect thereto. At the Closing, Purchaser shall reimburse Seller for all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentence.MISCELLANEOUS

Future Operations. (a) From the date of this Agreement until the Closing or earlier termination of this Agreement: (i) Seller will keep and maintain the Property in substantially its condition as of the date of this Agreement; (ii) Seller will perform all Seller's obligations under the Contracts and Leases. Seller will not, without the prior written consent of Purchaser, modify, enter into, or renew any Contract or Lease which cannot be canceled cancelled upon thirty (30) days' days prior written notice. (iii) Seller will continue to manage the Property in a prudent mariner manner consistent with Seller's past practices. (b) Except with respect to the proposed lease with CDG, which Purchaser approved, from From the Effective Date until the Closing or earlier termination of this Agreement. , Seller will not lease any space in the Improvements except upon the prior written approval of Purchaser (such approval not to be unreasonably withheld or delayed); provided however, this limitation upon Seller shall not apply with respect to lease renewals and lease extensions pursuant to rights granted under an existing lease. In addition, Seller shall not apply security deposits unless the corresponding tenant is out a f of the demised premises by the Closing Date. All costs and expenses (the "New Lease Expenses") incurred and paid by Seller under any new lease entered into after the Effective Date (each each, a "New Lease") shall be paid by Purchaser in accordance with Section 6.6(c) hereof. Said costs and expenses shall include, but not be limited to, costs incurred and paid by Seller for tenant improvements, leasing commissions, capital improvements, and reasonable attorneys' attorney's fees. Notwithstanding anything to the contrary contained herein, Seller will credit Purchaser at Closing (i) up to the amount of $275,000.00 for the New Lease Expenses assumed by Purchaser with respect to the proposed CDG lease and (ii) up to the amount of $24,516.00 00 for lease renewal commissions, unless otherwise paid prior to Closing, with respect to leases for: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ATM, Seguin Nails Coleville, D.D.S., Subway, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Valerie's Hair, Hill's Jewelers, Popeye's Chicken, an ▇▇▇▇▇ ▇▇▇▇▇▇ Cosmetics, and the New Lease Expenses for each New Lease allocable to and payable by Seller shall be determined by multiplying the amount of such New Lease Expenses by a fraction, the numerator of which shall be the number of days contained in that portion, if any, of the term of such New Lease commencing on the date on which the tenant thereunder shall have commenced to pay fixed rent (the "Rent Commencement Date'") and expiring on the date immediately preceding the Closing Date▇▇▇▇, and the denominator of which shall be the total number of days contained in the period commencing on the Rent Commencement Date and expiring an on the date of the scheduled expiration of the term of such New Lease, and the remaining balance of the New Lease Expenses for each New Lease shall be allocable to and payable by Purchaser. The Rent Commencement Date under a renewal, extension, expansion or modification of a Lease shall be deemed to be (A) in the case of a renewal or extension (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the first date during such renewal or extension period after the originally scheduled expiration of the term of such Lease on which the tenant under such Lease commences to pay fixed rent, (B) in the case of an expansion (whether effective prior to or after the Closing, or in the form of an option exercisable in the future), the date on which the tenant under such Lease commences to pay fixed rent for the additional space, and (C) In in the case of a modification not also involving a renewal, extension or expansion of such Lease, the effective date of such modification agreement. At the Closing, Purchaser shall reimburse Seller for all New Lease Expenses theretofore paid by Seller, if any, in excess of the portion of die the New Lease Expenses allocated to Seller pursuant to the provisions of the preceding sentence.