Common use of Leasing Activities Clause in Contracts

Leasing Activities. Notwithstanding anything contained herein to the contrary, Seller may, in its sole discretion, execute and enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease (all of the foregoing, a “New Lease”) on or prior to the Approval Date provided that Seller provides a complete copy to Purchaser of such New Lease two (2) business days prior to the Approval Date. From and after the Contract Date, Seller shall not enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease unless Seller obtains Purchaser’s advance written consent to such New Lease, which consent may be withheld in Purchaser’s reasonable discretion prior to the Approval Date and in Purchaser’s sole discretion thereafter, but which consent shall be deemed automatically given if Purchaser fails to respond within three (3) business days after Seller makes a written request for same. New Leases shall not include, and Seller shall be free to execute and enter into at any time, any amendments, modifications, renewals or expansions of any Existing Lease pursuant to the terms of such Existing Lease.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale and Joint Escrow Instructions (Cornerstone Core Properties REIT, Inc.), Agreement of Purchase and Sale and Joint Escrow Instructions (Cornerstone Realty Fund LLC)

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Leasing Activities. Notwithstanding anything contained herein to the contrary, Seller may, in its sole discretion, execute and enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease (all of the foregoing, a “New Lease”) on or prior to the Approval Date without the consent of Purchaser provided that Seller provides a complete copy to Purchaser of such New Lease two (2) business days on or prior to the Approval Date. From and after the Contract Approval Date, Seller shall not enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing New Lease unless Seller obtains Purchaser’s advance written consent to such New Lease, which consent may be withheld in Purchaser’s reasonable discretion prior to the Approval Date and in Purchaser’s sole discretion thereafterdiscretion, but which consent shall be deemed automatically given if Purchaser fails to respond within three (3) business days after Seller makes a written request for same. New Leases shall not include, and Seller shall be free to execute and enter into at any time, any amendments, modifications, renewals or expansions of any Existing Lease required pursuant to the terms of such Existing Lease.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Plymouth Industrial REIT Inc.)

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Leasing Activities. Notwithstanding anything contained herein to the contrary, Seller may, in its sole discretion, execute and enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing Lease (all of the foregoing, a “New Lease”) on or prior to the Approval Date provided that Seller provides a complete copy to Purchaser of such New Lease two (2) business days on or prior to the Approval Date. From and after the Contract Approval Date, Seller shall not enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any Existing New Lease unless Seller obtains Purchaser’s advance written consent to such New Lease, which consent may be withheld in Purchaser’s reasonable discretion prior to the Approval Date and in Purchaser’s sole discretion thereafterdiscretion, but which consent shall be deemed automatically given if Purchaser fails to respond within three (3) business days after Seller makes a written request for same. New Leases shall not include, and Seller shall be free to execute and enter into at any time, any amendments, modifications, renewals or expansions of any Existing Lease pursuant to the terms of such Existing Lease.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Plymouth Industrial REIT Inc.)

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