Common use of Leases and Other Agreements Clause in Contracts

Leases and Other Agreements. Section 7.1 Buyer’s Approval of New Leases and Agreements Affecting the Property. Between the Effective Date and the Closing, Seller shall continue to lease the Property in the same manner as before the making of this Agreement, the same as though Seller were retaining the Property; provided, however, that after the Effective Date, Seller shall not enter into any new Lease or other agreement affecting the Property, or modify or terminate any existing Lease or other agreement affecting the Property, which will be binding on the Property after Closing, except as permitted or required under any Lease and except for agreements which are terminable on no more than thirty (30) days’ notice without payment of any penalty or fee or other cost to Seller, without first obtaining Buyer’s approval of the proposed action, which approval will not be unreasonably withheld, conditioned or delayed. In such case, Buyer shall specify in reasonable detail the reasons for its disapproval of any such proposed action. If Buyer fails to give Seller notice of its approval or disapproval of any such proposed action requiring its approval under this Section 7.1 within five (5) business days after Seller notifies Buyer of Seller’s desire to take such action, then Buyer shall be deemed to have given its approval. Any new Lease or other agreement or amendment shall be on Seller’s standard forms for such documents. Buyer agrees to reasonably cooperate with Seller in enabling Seller to complete any such proposed transaction requiring Buyer’s approval. Without Buyer’s prior written consent, Seller will not enter into any agreement which is placed of record and affects title to the Property.

Leases and Other Agreements. Section 7.1 Buyer’s Approval of New Leases and Agreements Affecting the Property. Between the Effective Date and the Closing, Seller shall continue to lease the Property in the same manner as before the making of this Agreement, the same as though Seller were retaining the Property; provided, however, Property provided that after (a) prior to the Effective Dateexpiration of the Contingency Period, Seller shall not enter into any new Lease or other agreement affecting the Property, or modify or terminate any existing Lease or other agreement affecting the Property, which will be binding on the Property after Closing, except as permitted or required under any Lease and except for agreements which are terminable on no more than thirty sixty (3060) days’ notice without payment of any penalty or fee or other cost to SellerSeller (“Property Transactions”), without first obtaining Buyer’s approval of the proposed action, which approval will not be unreasonably withheld, conditioned or delayed, and (b) between the expiration of the Contingency Period and Closing, Seller shall not enter into any Property Transaction, without first obtaining Buyer’s approval of the proposed action, which approval may be granted or withheld in Buyer’s sole discretion. In such case, Buyer shall specify in reasonable detail the reasons for its disapproval of any such proposed actionProperty Transaction. If Buyer fails to give Seller notice of its approval or disapproval of any such proposed action Property Transaction requiring its approval under this Section 7.1 within five three (53) business days after Seller notifies Buyer of Seller’s desire to take enter into such actionProperty Transaction, then Buyer shall be deemed to have given its approval. Any new Lease or other agreement or amendment shall be on Seller’s standard forms for such documents. Buyer agrees to reasonably cooperate with Seller in enabling Seller to complete any such proposed transaction Property Transaction requiring Buyer’s approval. Without Buyer’s prior written consent, Seller will not enter into any agreement which is placed of record and affects title to the Property.

Leases and Other Agreements. Section 7.1 Buyer’s 's Approval of New Leases and Agreements Affecting the Property. Between the Effective Date and the Closing, Seller shall continue to lease the Property in the same manner as before the making of this Agreement, the same as though Seller were retaining the Property; provided, however, that after the Effective Date, Seller shall not enter into any new Lease or other agreement affecting the Property, or modify modify, terminate or terminate renew any existing Lease or other agreement affecting the Property, or waive any covenant or other obligation under any existing Lease or other agreement affecting the Property, which will will, in any case, be binding on the Property or the owner of the Property after Closing, except as permitted or required under any Lease and except for agreements which are terminable on no more than thirty (30) days’ notice without payment of any penalty or fee or other cost to SellerLease, without first obtaining Buyer’s 's approval of the proposed action, action which approval will consent shall not be unreasonably withheld, conditioned or delayed. Between the Effective Date and the Closing, Seller shall notify Buyer of any request for consent under any existing Lease, and Seller shall not grant any consent under any existing Lease, except as required by the applicable Lease without first obtaining Buyer's approval. In any such case, Buyer shall specify in reasonable detail the reasons for its disapproval of any such proposed action. If Buyer fails to give Seller notice of its approval or disapproval of any such proposed action requiring its approval under this Section 7.1 within five (5) business days after Seller notifies Buyer of Seller’s 's desire to take such action, then Buyer shall be deemed to have given its approval. Any new Lease or other agreement or amendment shall be on Seller’s 's standard forms for such documents. Buyer agrees to reasonably cooperate with Seller in enabling Seller to complete any such proposed transaction requiring Buyer’s 's approval. Without Buyer’s prior written consent, Seller will not enter into any agreement which is placed of record and affects title to the Property.

Leases and Other Agreements. Section 7.1 Buyer’s Approval of New Leases and Agreements Affecting the Property. Between the Effective Date and the Closing, Seller shall continue to lease the Property in the same manner as before the making of this Agreement, the same as though Seller were retaining the Property; provided, however, that after the Effective Date, Seller shall not enter into any new Lease or other agreement affecting the Property, or modify modify, terminate or terminate renew any existing Lease or other agreement affecting the Property, or waive any covenant or other obligation under any existing Lease or other agreement affecting the Property, which will will, in any case, be binding on the Property or the owner of the Property after Closing, except as permitted or required under any Lease and except for agreements which are terminable on no more than thirty (30) days’ notice without payment of any penalty or fee or other cost to SellerLease, without first obtaining Buyer’s approval of the proposed action. Between the Effective Date and the Closing, which approval will Seller shall notify Buyer of any request for consent under any existing Lease, and Seller shall not be unreasonably withheldgrant any consent under any existing Lease, conditioned or delayedexcept as required by the applicable Lease without first obtaining Buyer’s approval. In any such case, Buyer shall specify in reasonable detail the reasons for its disapproval of any such proposed action. If Buyer fails to give Seller notice of its approval or disapproval of any such proposed action requiring its approval under this Section 7.1 within five (5) business days after Seller notifies Buyer of Seller’s desire to take such action, then Buyer shall be deemed to have given its approval. Any new Lease or other agreement or amendment shall be on Seller’s standard forms for such documents. Buyer agrees to reasonably cooperate with Seller in enabling Seller to complete any such proposed transaction requiring Buyer’s approval. Without Buyer’s prior written consent, Seller will not enter into any agreement which is placed of record and affects title to the Property.