Existing Operations. Each Seller hereby agrees, through and including the Close of Escrow and at such Seller’s sole cost and expense, to: (a) keep all existing insurance policies affecting the each Property in full force and effect, (b) use due diligence and commercially reasonable efforts to keep in full force and effect and/or renew all licenses and permits, (c) provide all services and to continue to operate, manage and maintain the Properties (including mechanical equipment of every kind used in the operation thereof) in such condition so that the Properties shall be in substantially similar condition on the Close of Escrow as on the date hereof, reasonable wear and tear and damage from casualty excepted, (d) use commercially reasonable efforts to comply with all governmental regulations, and (e) keep Buyer timely advised of any material repair or improvement required to keep any Property in the condition as required above.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Netreit, Inc.)