Common use of Covenants, Agreements, Representations and Warranties Clause in Contracts

Covenants, Agreements, Representations and Warranties. 9.1 Seller hereby covenants to and agrees with Purchaser as follows: 9.1.1 At all times from the date of this Agreement to the Closing, Seller shall cause to be maintained in force (i) all Permits and Bonds and (ii) casualty and liability insurance with respect to damage or injury to person or property occurring on the Property in at least such amounts as are maintained by Seller on the date of this Agreement; 9.1.2 At all times from the date of this Agreement to the Closing, Seller shall keep and perform all of the obligations to be performed by the landlord under the Tenant Leases for the improvements situated on the Land, including without limitation any maintenance of the Property to be performed by the landlord under such Tenant Leases. Seller agrees to use its best efforts from the date hereof to retain the existing tenants and to secure new tenants for the Property, at rentals and upon terms and conditions approved by Purchaser in Purchaser's reasonable judgment, but Seller shall not enter into any new or renewal leases for a term which would expire later than September 1, 2005, nor shall Seller enter into any new or renewal service, maintenance or management agreement with respect to all or any portion of the Property without Purchaser's prior written approval; 9.1.3 Seller shall obtain all such written consents and approvals as may be required in order to permit Seller to perform its obligations under this Agreement except that Purchaser shall be responsible for applying for and obtaining Lender's approval for Purchaser's assumptions of the Existing Financing; 9.1.4 Prior to the Closing, Seller shall manage and use the Property in accordance with all Applicable Laws and in substantially the same manner as it has been managed and used up to and including the date hereof, subject, however, to all relevant provisions of this Agreement;

Appears in 4 contracts

Sources: Agreement of Sale and Purchase (American Campus Communities Inc), Agreement of Sale and Purchase (American Campus Communities Inc), Agreement of Sale and Purchase (American Campus Communities Inc)

Covenants, Agreements, Representations and Warranties. 9.1 Seller hereby covenants to and agrees with Purchaser as follows: 9.1.1 At all times from the date of this Agreement to the Closing, Seller shall cause to be maintained in force (i) all Permits and Bonds and (ii) casualty and liability insurance with respect to damage or injury to person or property occurring on the Property in at least such amounts as are maintained by Seller on the date of this Agreement; 9.1.2 At all times from the date of this Agreement to the Closing, Seller shall keep and perform all of the obligations to be performed by the landlord under the Tenant Leases for the improvements situated on the Land, including without limitation any maintenance of the Property to be performed by the landlord under such Tenant Leases. Seller agrees to use its best efforts from the date hereof to retain the existing tenants and to secure new tenants for the Property, at rentals and upon terms and conditions approved by Purchaser in Purchaser's reasonable judgment, but Seller shall not enter into any new or renewal leases for a term which would expire later than September 1, 2005, nor shall Seller enter into any new or renewal service, maintenance or management agreement with respect to all or any portion of the Property without Purchaser's prior written approval; 9.1.3 Seller shall obtain all such written consents and approvals as may be required in order to permit Seller to perform its obligations under this Agreement except that Purchaser shall be responsible for applying for and obtaining Lender's approval for Purchaser's assumptions of the Existing Financing; 9.1.4 Prior to the Closing, Seller shall manage and use the Property in accordance with all Applicable Laws and in substantially the same manner as it has been managed and used up to and including the date hereof, subject, however, to all relevant provisions of this Agreement;

Appears in 1 contract

Sources: Agreement of Sale and Purchase (American Campus Communities Inc)