Examples of Rejected Service Contracts in a sentence
On or before the Contingency Date, Purchaser shall advise Seller, in writing, of any Service Contracts that Purchaser does not desire to be assigned to and assumed by Purchaser at Closing (the “Rejected Service Contracts”), and any Rejected Service Contracts shall be terminated prior to or at Closing if such contracts are terminable at no cost to Seller and Seller has reasonably sufficient notice to allow for timely termination of such Service Contracts.
Any Service Contracts that are not Rejected Service Contracts (i.e., Service Contracts that are either (a) not listed in the Contracts Notice as Service Contracts Buyer elects to have Seller terminate at Closing or (b) listed in the Contracts Notice as Service Contracts Buyer elects to have Seller terminate at Closing, but which are Retained Service Contracts), shall be assumed by Buyer at the Closing pursuant to the Assignment of Leases and Contracts delivered at the Closing.
During the Inspection Period, Buyer shall notify Seller in writing those Service Contracts relating to the Property that Buyer shall not assume at Closing (the “Rejected Contracts”), and Seller shall terminate, as of the Closing Date, all such Rejected Service Contracts.
An instrument or instruments in form and substance reasonably satisfactory to Purchaser terminating (i) all existing agreements with any party with respect to management or leasing of the Property or any part thereof; and (ii) any other Rejected Service Contracts which Purchaser requests Seller to terminate prior to the expiration of the Inspection Period as set forth in Section 3.1 hereof; all such terminations shall be without proration or contribution from Purchaser.
Any Service Contracts which are so rejected (the "Rejected Service Contracts") shall be terminated in the manner set forth in Section 7.3.11 of this Agreement.
Charges and payments (including the reimbursement of expenses, if applicable) under all Service Contracts (that are not Rejected Service Contracts), all Equipment Leases, the ATM Agreement, and the Sixt Agreement shall be prorated as of the Cut Off Time between Buyer and Seller.
On or before the Contingency Date, Purchaser shall advise Partnership, in writing, of any Service Contracts that Purchaser does not desire to be assigned to and assumed by Purchaser at Closing (the “Rejected Service Contracts”), and any Rejected Service Contracts shall be terminated prior to or at Closing if such contracts are terminable at no cost to Partnership and Partnership has reasonably sufficient notice to allow for timely termination.