General Operation of Property Clause Samples

General Operation of Property. Except as specifically set forth in this Article VII, Seller shall operate the Property after the Effective Date in the ordinary course of business, and except as necessary in Seller's sole discretion to address (a) any life or safety issue at the Property or (b) any other matter which in Seller's reasonable discretion materially adversely affects the use, operation or value of the Property, Seller will not make any material alterations to the Property or remove any material Fixtures and Tangible Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, denied or delayed.

General Operation of Property. Except as specifically set forth in this Article VII, Seller shall operate the Property after the Effective Date in the ordinary course of business, and except as necessary in Seller's sole discretion to address (a) any life or safety issue at the Property or (b) any other matter which in Seller's reasonable discretion materially adversely affects the use, operation or value of the Property, Seller will not make any material alterations to the Property or remove any material Fixtures and Tangible Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, denied or delayed. Seller agrees to maintain its existing insurance policies (or replacement policies on comparable terms) covering the Property in full force and effect through the Closing Date.

General Operation of Property. Except as specifically set forth in this Article VII, Seller shall operate and maintain the Property after the Effective Date in the ordinary course of business, and except as necessary in the Seller’s sole discretion to address (a) any life or safety issue at the Property or (b) any other matter which in Seller’s reasonable discretion materially adversely affects the use, operation or value of the Property, Seller will not make any material alterations to the Property or remove any material Fixtures and Tangible Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, denied or delayed. Five (5) Business Days prior to the Closing, the Seller shall use commercially reasonable efforts to cause all Tenant Units which have been vacant for five (5) calendar days or more to be in Rent-Ready Condition. Purchaser may, at its option, inspect the Property not less than five (5) Business Days prior to Closing to verify that such vacant Tenant Units are in such rent-ready condition. With respect to each Tenant Unit that has been vacant for five (5) calendar days or more prior to such inspection date that is not in Rent-Ready Condition on the date of Closing, Purchaser shall receive a credit against the Purchase Price at Closing in the sum of $750.00. (As used herein, “

General Operation of Property. Except as specifically set forth in this Article VII, Seller shall continue to operate the Property after the Effective Date in the ordinary course of business, and except as necessary in Seller’s sole discretion to address (a) any life or safety issue at the Property, (b) any requirements of or obligations under any Lease, (c) any requirements of or obligations under any Development Agreement or any Declarations and REAs, or (d) any other matter which in Seller’s reasonable discretion materially adversely affects the use, operation or value of the Property, Seller will not make any material alterations to the Property or remove any material Fixtures and Tangible Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, conditioned or delayed.

General Operation of Property. Except as specifically set forth in this Article 7, Seller shall operate the Property after the Effective Date in the ordinary course of business, and except as necessary in Seller’s sole discretion to address (a) any life or safety issue at the Property or (b) any requirement set forth under the Lease, Seller will not make any material alterations to the Property or remove any material Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, delayed or conditioned; provided, however, that, so long as this Agreement has not been terminated, Seller will not (i) perform any grading or excavation, construction, or removal of any improvements, or make any other change or improvement upon or about the Property, or (ii) commit any waste or nuisance upon the Property. Nothing in this Section 7.5 shall limit, restrict or prohibit Seller, without Purchaser’s consent, from performing any repair, maintenance or tenant improvement projects which Seller is required to perform under the Lease.

General Operation of Property. Except as specifically set forth in this Article VII, Seller shall operate and insure the Property after the Effective Date in the ordinary course of business, and except as necessary to address (a) any life or safety issue at the Property, (b) any requirements of or obligations under any Lease, or (c) any requirements of or obligations under the Ground Lease, any Development Agreement or any Declarations and REAs, Seller will not make any material alterations to the Property or remove any material Fixtures and Tangible Personal Property without the prior written approval of Purchaser which approval shall be in Purchaser’s sole discretion. Notwithstanding anything herein to the contrary, Seller shall have no obligation to perform any of the work described in the Common Area Improvements Construction Contract. Between the Effective Date and Closing, Seller shall continue to perform the work described in the Suite 1230 Construction Contract.

General Operation of Property. Except as specifically set forth in this Article 7, Seller shall operate the Property after the Effective Date in the ordinary course of business, and except as necessary in the Seller’s sole discretion to address (a) any life or safety issue at the Property or (b) any other matter which in Seller’s reasonable discretion materially adversely affects the use, operation or value of the Property, Seller will not make any alterations to the Property or remove any Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, denied or delayed. Nothing in this Section 7.3 shall limit, restrict or prohibit Seller, without Purchaser’s consent, from performing any repair, maintenance or tenant improvement projects which Seller is required to perform under the Leases.

General Operation of Property. 22 7.3...... Liens...................................................................................................................... 22

General Operation of Property. Except as specifically set forth in this Article VII, each Seller shall continue to manage, operate and maintain its Property in substantially the same manner as existed at the time of the execution of this Contract and in the ordinary course of business consistent with past practices; provided, however, that each Seller shall not be required (or permitted, subject to the following) to perform any capital repair or replacement projects at the Properties or any portion thereof. Each such Seller will not make any alterations to its Property (other than ordinary maintenance and repair) or remove any Fixtures and Tangible Personal Property without the prior written consent of Purchaser which consent shall not be unreasonably withheld, denied or delayed; provided however, that notwithstanding the foregoing, each Seller may, in its sole discretion, take any actions to address or otherwise prevent any life or safety issue at its Property or any other maintenance and/or repair work reasonably necessary to cause such Seller, as landlord, to comply with the terms of any Lease, excluding capital improvement projects affecting common areas or multiple units (provided that Seller provide Purchaser with notice of such action within one (1) Business Day following same).