Common use of Maintenance and Operation of Property Clause in Contracts

Maintenance and Operation of Property. 6.3.1 From the Effective Date through the Closing Date (the “Contract Period”), Seller shall (i) maintain in full force and effect all of the insurance policies and coverages currently in effect with respect to the Property; (ii) operate, manage and maintain the Property, including without limitation, the building systems, software systems and plant equipment related to the Buildings in the manner consistent with current practices; (iii) make such repairs and replacements as are reasonably required of Seller under the Leases; (iv) inform Purchaser promptly of any default under any Lease and of any litigation, arbitration proceeding or administrative hearing that affects the Property in any manner and which is instituted after the Effective Date; and (v) perform and comply with the obligations of the lessor under the Leases. 6.3.2 During the Contract Period, Seller shall not, without Purchaser’s prior written consent (i) execute new contracts for services to the Property that will be effective on or after the Closing Date (which consent shall not be unreasonably withheld, conditioned or delayed); (ii) create, grant or record any liens or encumbrances on title, except in accordance with this Agreement; (iii) except as otherwise required by the Leases, modify, amend, supplement, renew, extend or terminate any of the Leases or consent to the assignment of any Lease or to any sublease of any portion of the Property; (iv) enter into any new leases or occupancy agreements of any kind for any portion of the Property; (v) make or permit to be made any alterations to or upon the Property (other than alterations made pursuant to one of the Leases) (which consent shall not be unreasonably withheld, conditioned or delayed); or (vi) consent to any change in the zoning classification applicable to the Property.