Common use of Leasing Practice Clause in Contracts

Leasing Practice. (a) Provided that Purchaser is not in default under this Contract, Seller shall not, without Purchaser’s prior approval, which shall be at Purchaser’s sole discretion, enter into any modifications, renewals or extensions of the GSA Lease other than those required pursuant to the terms of the GSA Lease (collectively, “GSA Lease Modifications”). Purchaser agrees to grant or deny consent in writing (and provide, in reasonable detail, the reasons for any denial) within five (5) Business Days after Purchaser’s receipt of Seller’s request, which request shall contain copies of all material information related to such request and a summary of the material terms of the proposed GSA Lease Modification and such other information as reasonably requested by Purchaser. Purchaser’s failure to timely respond in writing to Seller’s request shall be deemed a consent to the proposed GSA Lease Modification. Seller shall, from time to time, inform (orally or in writing) Purchaser of any negotiations and promptly give notice to Purchaser of any GSA Lease Modification and a copy of any instruments executed and any material information delivered in connection with the GSA Lease Modification. The term “GSA Lease” shall include any GSA Lease Modifications made after the Effective Date which are permitted under this Section 9.1.