Termination of Service Contracts. From the date of this Agreement through the Closing or earlier termination of this Agreement, other than in the ordinary course of business, Seller shall not terminate any Service Contract without Buyer’s prior consent, which shall not be unreasonably withheld or delayed. Seller shall notify Buyer of any Service Contract that is terminated by Seller in the ordinary course of business.
Termination of Service Contracts. Prior to the expiration of the Inspection Period, the Purchaser may elect, in its sole and absolute discretion, to provide the Sellers with a written notice identifying any Service Contracts which the Purchaser requires to be terminated prior to the Closing. The Sellers shall terminate any such Service Contracts so identified by the Purchaser at the Sellers’ sole cost and expense on or prior to the Closing Date. Notwithstanding the foregoing, each Seller acknowledges and agrees that it shall terminate any management agreements affecting its Property (including, without limitation, any management agreements between each Seller and ASC) on or prior to the Closing Date at no cost or expense to the Purchaser (whether or not the Purchaser provides the Sellers with a written notice requiring them to terminate the same) and the Purchaser shall have no liability or obligation with respect to any such management agreements.
Termination of Service Contracts. Before the end of the Inspection Period, Purchaser shall give notice (the “Continuing Contract Notice”) to Seller of any service contracts affecting the Property that Purchaser elects to have continued after Closing, and such service contracts, if assignable by Seller, shall be assigned to and assumed by Purchaser at Closing pursuant to the Assignment and Assumption of Intangible Property and Other Rights. Seller shall terminate all service contracts as to which Purchaser does not timely give a Continuing Contract Notice, it being understood and agreed that the actual effective date of the termination may not occur until after the Closing (in which event, such service contract shall be assigned to Purchaser as if it were a continuing contract but subject to the termination notice).
Termination of Service Contracts. From the date of this Agreement through the Closing or earlier termination of this Agreement, other than in the ordinary course of business, Contributor shall not terminate any Service Contract without TRT Partner’s prior consent, which shall not be unreasonably withheld or delayed. Contributor shall notify TRT Partner of any Service Contract that is terminated by Contributor in the ordinary course of business.
Termination of Service Contracts. Seller shall terminate, effective as of Closing, at no charge to Purchaser, all Service Contracts that are rejected pursuant to written notice delivered by Purchaser to Seller no later than on the Inspection Period Expiration Date, but only to the extent such Service Contracts can be terminated by Seller at Closing without payment of any termination payment or penalty and without payment for any post-Closing period.
Termination of Service Contracts. During the Due Diligence Period, Purchaser shall notify Seller which Service Contracts Purchaser wishes to assume at Closing. Notwithstanding the foregoing, Purchaser shall assume all Service Contracts that are not terminable on 30 days or less notice or that require the payment of a termination charge (unless Purchaser agrees to pay such termination charge). Purchaser shall pay any transfer or assignment charges due in connection with its assumption of any Service Contracts. Notice of termination for all Service Contracts not assumed by Purchaser shall be given by Seller not later than the Closing Date and any charges due thereunder after the Closing Date and through the date of actual termination shall be the responsibility of Purchaser.
Termination of Service Contracts. On the Closing Date, Seller shall terminate those Services Contacts which are terminable without any cost or liability to Seller, unless Buyer notifies Seller during the Due Diligence Period as to which of such Service contracts should not be concealed and which will be assumed by buyer. All service Contracts not terminated by Seller shall be assigned to and assumed by Buyer at Closing.
Termination of Service Contracts. During the Inspection Period, Buyer shall notify Seller which Service Contracts Buyer wishes to assume at Closing and which Service Contracts Buyer wants terminated at Closing (the “Rejected Contracts”), provided, however, that Buyer shall assume any Service Contract that is not terminable without payment or penalty. As to the Rejected Contracts, at Closing, Seller shall give notice of termination, at its sole cost and expense, as to such Rejected Contracts so designated by Buyer, and Buyer will assume all other Service Contracts from the date of the Closing.
Termination of Service Contracts. Each of the parties agrees that it will take such actions as reasonably necessary to cause any agreement between SHCI and Security Capital and/or their respective subsidiaries to be terminable by SHCI on thirty (30) days' notice without any cost or penalty to SHCI.
Termination of Service Contracts. Unless Purchaser terminates this Contract prior to the expiration of the Inspection Period, then no later than the expiration of the Inspection Period Purchaser shall provide Sellers with written notice identifying the Service Contracts that Purchaser elects to have Sellers terminate. Any Service Contracts identified in such notice shall be terminated as of the Closing Date at no cost to Purchaser, and all other Service Contracts shall remain in effect. If there are any construction and/or design contracts with respect to tenant improvements that have not been fully performed and paid in full as of the Closing Date, then such contracts shall remain in effect as of Closing and the sums to be paid to contractors and design consultants pursuant to such contracts shall be allocated between Sellers and Purchaser pursuant to Section 7.2(e)(1) and Section 9.1(b).
