Common use of Preservation of Leases Clause in Contracts

Preservation of Leases. Seller shall, from and after the date of this Agreement to the date of Closing, use its best efforts to perform and discharge all of the duties and obligations and shall otherwise comply with every covenant and agreement of the landlord or lessor under the Leases in the manner and within the time limits required thereunder. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts (but shall not be required to institute any suits) to cause the Tenants under the Leases to perform all of their respective duties and obligations and otherwise comply with each and every one of their covenants and agreements under such Leases and shall take such actions as are reasonably necessary to enforce the terms and provisions of such Leases. Seller hereby agrees that from and after full execution of this Agreement, Seller shall not credit any portion of the security deposits, if any, against defaults or delinquencies of the Tenants under the Leases.

Appears in 2 contracts

Samples: www.sec.gov, Agreement for the Purchase and Sale of Property (Wells Core Office Income Reit Inc)

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Preservation of Leases. Seller shall, from and after the date of this Agreement to the date of Closing, use its best efforts to perform and discharge all of the duties and obligations and shall otherwise comply with every covenant and agreement of the landlord or lessor under the Leases Leases, at Seller’s expense, in the manner and within the time limits required thereunder. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts (but shall not be required to institute any suits) to cause the Tenants under the Leases to perform all of their respective duties and obligations and otherwise comply with each and every one of their covenants and agreements under such Leases and shall take such actions as are reasonably necessary to enforce the terms and provisions of such Leases. Seller hereby agrees that from and after full execution of this Agreement, Seller shall not credit any portion of the security deposits, if any, against defaults or delinquencies of the Tenants under the Leases.

Appears in 1 contract

Samples: Agreement for the Purchase and Sale of Property (Wells Real Estate Investment Trust Ii Inc)

Preservation of Leases. Seller shall, from and after the date of this Agreement to the date of Closing, use its best reasonable efforts to perform and discharge all of the duties and obligations and shall otherwise use reasonable efforts comply with every covenant and agreement of the landlord or lessor under the Leases Leases, at Seller's expense, in the manner and within the time limits required thereunder. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts (but shall not be required to institute any suits) to cause the Tenants under the Leases to perform all of their respective duties and obligations and otherwise comply with each and every one of their covenants and agreements under such Leases and shall take such actions as are reasonably necessary to enforce the terms and provisions of such Leases. Seller hereby agrees that from and after full execution of this Agreement, Seller shall not credit any portion of the security deposits, if any, against defaults or delinquencies of the Tenants under the Leases.

Appears in 1 contract

Samples: Agreement for the Purchase and Sale of Property (Wells Core Office Income Reit Inc)

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Preservation of Leases. Seller shall, from and after the date of this Agreement to the date of Closing, use its best good faith efforts to perform and discharge all of the duties and obligations and shall otherwise comply with every covenant and agreement of the landlord or lessor under the Leases and to enforce the terms and provisions of the Leases, at Seller’s expense, in the same manner as same are currently performed, discharged and within the time limits required thereunderenforced. Furthermore, Seller shall, for the same period of time, use diligent and good faith efforts (but shall not be required to institute any suits) to cause each of the Tenants under the Leases to perform all of their its respective duties and obligations and otherwise comply with each and every one of their its covenants and agreements under such Leases its respective Lease and shall take such actions as are reasonably necessary to enforce the terms and provisions of such the Leases. Seller hereby agrees that from and after full execution of this Agreement, Seller shall not credit any portion of the security depositsdeposit, if any, against defaults or delinquencies of the Tenants any Tenant under the Leases.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Wells Real Estate Investment Trust Inc)

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