ACTIONS AFTER THE CONTRACT DATE Sample Clauses
The "ACTIONS AFTER THE CONTRACT DATE" clause defines the obligations and steps that parties must undertake following the formal signing of the contract. This may include tasks such as delivering documents, making payments, transferring assets, or fulfilling other agreed-upon conditions within specified timeframes. By clearly outlining these post-signing responsibilities, the clause ensures that both parties understand their duties after the contract is executed, thereby facilitating a smooth transition from agreement to performance and reducing the risk of misunderstandings or delays.
ACTIONS AFTER THE CONTRACT DATE. The parties covenant to do the following through the Closing Date:
ACTIONS AFTER THE CONTRACT DATE. The parties covenant to do the following through the Closing Date:
(a) From and after the Effective Date, Seller shall not make any change to the condition of title to either or both of the Land and the Improvements that would change the condition of title approved or deemed approved by Purchaser pursuant to this Agreement. From and after the Effective Date, Seller shall not sell, or assign or create any right, title or interest in, any or all of the Land, the Improvements and any part of either of them, or create any lien, encumbrance or charge thereon.
(b) Seller shall (a) operate and maintain the Land and the Improvements in substantially its current condition (normal wear and tear and damage by casualty excepted) and consistent with Seller’s past practices; (b) shall maintain existing insurance coverage in full force and effect; (c) perform any work relating to the Property at its sole discretion, and timely make all repairs and maintenance of equipment or improvements, the same as though Seller were retaining the Property in its present condition; and (d) otherwise operate and maintain the Land and the Improvements in the ordinary course of Seller’s business.
(c) Notwithstanding anything contained herein to the contrary, Seller shall not, after the expiration of the Due Diligence Period, execute and enter into any new lease, license or occupancy agreement for all or some portion of the Land and the Improvements, including, without limitation, any amendment, renewal, expansion or modification to, or termination of, any of the Leases, unless Seller obtains Purchaser’s advance written consent, which shall not be unreasonably withheld, conditioned, or delayed. Seller shall have the right to enforce the rights and remedies of the landlord under any Lease in a manner consistent with its past practices except that Seller shall not evict any tenant and/or apply all or any portion of any security deposits held by Seller toward any loss or damage incurred by Seller by reason of any defaults by any tenants.
(d) During the pendency of this Agreement, Seller will not list the Property with any broker or otherwise solicit or make or accept any offers to sell the Property, engage in any discussions or negotiations with any third party with respect to the sale or other disposition of any of the Property, or enter into any contracts or agreements (whether binding or not) regarding any disposition of any of the Property, nor will Seller sell the Property to another par...
ACTIONS AFTER THE CONTRACT DATE