Common use of Management of Properties Clause in Contracts

Management of Properties. Seller agrees that it will continue to cause the Subject Properties to be managed and operated by Multicorp, Inc. through the Closing in a manner consistent with the manner currently being practiced, including the maintenance of the insurance coverage currently maintained by Seller on the Subject Properties. Seller makes no representations and assumes no responsibility with respect to continued occupancy of the Real Property and Improvements or any part thereof by any tenant or tenants now in possession. Prior to the Closing, Seller shall be entitled, but not obligated, to enforce the rights under any Lease or any tenancy by litigation in any court having jurisdiction over landlord and tenant matters. The removal by Seller of tenants that are in default under their leases shall not give rise to any claim on the part of Purchaser or affect this Contract in any manner whatsoever.

Appears in 2 contracts

Sources: Agreement of Sale and Purchase (Walden Residential Properties Inc), Sale Agreement (Walden Residential Properties Inc)