Sellers Undertakings Pending Closing. (a) Operation of the Property. Until the earlier of the Closing or the termination of this Agreement, Xxxxxx agrees:
Sellers Undertakings Pending Closing. Except for the Waste Management Contract, Seller agrees to terminate by written notice to the other party thereto, effective as of Closing, any of the Contracts and Tenant Leases that Purchaser, pursuant to written notice to Seller, requests Seller to terminate. Seller shall deliver copies of all notices of termination given by Seller hereunder to Purchaser. Specifically and notwithstanding anything contained herein to the contrary, Seller shall, immediately after the execution and delivery of this Agreement, terminate and obtain a release of any right to purchase by South Suburban Park and Recreation District and further shall terminate the Tenant Lease with South Suburban Park and Recreation District. Seller shall deliver evidence of the foregoing to Purchaser. Purchaser understands and acknowledges that the Tenant Lease with South Suburban Park and Recreation District requires six-months advance notice and that such Tenant Lease remains in effect for six months after notice of termination is provided. Upon termination of the Tenant Lease with South Suburban Park and Recreation District, Seller may, if appropriate and subject to Purchaser’s prior approval of its terms, negotiate a month-to-month lease with Suburban Park and Recreation District that would allow South Suburban Park and Recreation District to continue its current operations on the Property until the sale contemplated under this Agreement has closed.
Sellers Undertakings Pending Closing
