Property Contracts. Seller shall not, from and after the Effective Date, enter into any new Contracts for the Property or modifications, renewals or terminations of any existing Contracts, without the prior written consent of Buyer, which consent shall not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, and which consent may be given or withheld in Buyer’s sole discretion after the expiration of the Due Diligence Period. Effective at Closing, Seller shall terminate, at Seller’s expense, any leasing commission agreements and management agreements (including the property management agreement) applicable to the Property as well as any other Contract that Buyer does not elect to assume. In no event shall Seller enter into any Contract for the Property that is not terminable upon thirty (30) days prior written notice.
Appears in 4 contracts
Samples: Purchase and Sale Agreement and Escrow Instructions (Grubb & Ellis Healthcare REIT II, Inc.), Purchase and Sale Agreement and Escrow Instructions (Grubb & Ellis Healthcare REIT II, Inc.), Purchase and Sale Agreement and Escrow Instructions (Grubb & Ellis Healthcare REIT II, Inc.)
