Ongoing Operations. From the Effective Date through Closing:
Ongoing Operations. During the pendency of this Agreement:
Ongoing Operations. During the pendency of this Contract, Seller shall carry on its business and activities relating to the Property, including the leasing of the Property, in substantially in the same manner as it did before the Effective Date.
Ongoing Operations. Seller shall cause the Partnership to carry on its business and activities relating to the Real Property, including (a) the leasing of the Real Property, substantially in the same manner as it did at any time prior to the date of this Agreement, and (b) the conduct of all maintenance, repair and replacement work in accordance with the Partnership’s policies and practices prior to the date of this Agreement including: (i) replacement of carpet and appliances (including individual air-conditioning units) in the ordinary course of business, (ii) interior painting in the ordinary course of business, and (iii) day-to-day maintenance and repair of roofs and other building systems, decks, patios, stairways, parking lots and structures, landscaping, gates and fences and other items requiring periodic maintenance and repair. Notwithstanding the foregoing, nothing contained in this Section 8.06 shall affect or otherwise diminish the rights and obligations of Buyer and Seller under Section 7 hereof with respect to a casualty. On or prior to the Closing Date, Seller shall have caused the Partnership to have performed substantially all work necessary (including, without limitation, supplying operable kitchen appliances, new carpet and repainting) to make all apartment units within the Real Property that have been vacant for more than ten (10) days prior to the Closing Date ready for occupancy by incoming tenants, consistent with prudent management practices of experienced multi-family property owners.
Ongoing Operations. During the pendency of this Agreement, but subject to the limitations set forth below, Seller shall carry on its businesses and activities relating to the Real Property substantially in the same manner as it did before the date of this Agreement. The new and pending lease transactions (the “New and Pending Lease Transactions”) reflected on Schedule 1-1 and Schedule 1-2 attached hereto shall be deemed approved by Buyer for purposes of this Agreement.
Ongoing Operations. Seller will use its best effort to preserve intact the Acquired Assets and to continue to operate the Dealership as a going concern, including, but not limited to, maintaining commercially reasonable inventories and receivables. Seller will not dispose of any of the Acquired Assets except in the ordinary course of business consistent with past practices, and will not, without limiting the foregoing, hold a "going-out-of-business" or "liquidation" sale.
Ongoing Operations. The Companies shall, and the Shareholder ------------------ shall cause the Companies to, conduct their businesses diligently and substantially in the same manner as heretofore conducted and use reasonable best efforts to preserve the present relationships between the Companies on the one hand and their suppliers, distributors, customers and others having business relations with either of them on the other, and shall not, except with Buyer's prior written consent: (i) declare, make or pay any distributions or dividends on their capital stock or any other equity securities not reflected in the Interim Financial Statements; (ii) make or grant any increases in salary or other compensation or bonuses to employees (other than in connection with arrangements or agreements in effect as of the date hereof and specifically disclosed in writing to Buyer) in excess of a rate of $5,000 per annum for any individual employee or a rate of $25,000 per annum for all employees, or grant any employee any severance or termination pay except in accordance with the Companies' existing policies as set forth in the personnel manuals delivered to Buyer pursuant to Section 4.21 hereof, or establish, adopt, enter into or amend in any material respect any bonus, profit sharing, thrift, pension, retirement, deferred compensation, policy or arrangement for the benefit of any directors, officers or employees; (iii) make any material general adjustment in the type or hours of work of their employees; (iv) enter into or amend any agreement or transaction with any person or entity who or which is an associate or an affiliate of the Companies or the Shareholder; (v) permit or engage in any of the actions or transactions set forth in Sections 4.6 (to the extent not otherwise covered by this Section 6.1(a)) and 4.24 hereof; (vi) acquire, exchange, lease, license or dispose of any property or assets, other than in the ordinary course of business; (vii) issue or grant any shares of capital stock or other securities, whether or not such are exercisable for, convertible into or exchangeable for shares of capital stock or such other securities; (viii) amend or repeal any of their Constituent Documents; (ix) incur any indebtedness or permit any of their assets or property to become subject to any Lien other than Permitted Liens (as defined in Section 4.18 hereof) and indebtedness incurred in the ordinary course of business; (x) make any capital expenditure in excess of $50,000; (xi) enter into, ter...
Ongoing Operations. During the pendency of this Agreement, but subject to the limitations set forth below, Seller shall, and shall cause the Owners to carry on their businesses and activities relating to the Property substantially in the same manner as it did before the date of this Agreement.
Ongoing Operations. Notwithstanding anything herein contained, the Company shall have the right to conduct such business and to enter into such agreements as may be necessary in the ordinary course of its business.
Ongoing Operations. From the Effective Date until the Closing:
