Common use of New Contracts and Leases Clause in Contracts

New Contracts and Leases. Between the Effective Date and the date which is three (3) business days prior to the expiration of the Property Approval Period, (i) Seller will keep Buyer informed of any new Contracts or Leases that are entered into by Seller or any amendments or modifications to the existing Contracts or Leases, which new Contracts or Leases or {2108-00079/00770738;} -Exhibit P- modifications will survive Closing or otherwise affect the use, operation or enjoyment of the Property after Closing (collectively, "New Contracts"), and (ii) Buyer shall have the right to object or consent to the terms or conditions of any such New Contracts or amendments or extensions thereto such consent not to be unreasonably withheld or delayed, except as provided below. Without limiting the generality of the foregoing, Seller will provide Buyer with copies of all New Contracts. Subsequent to the date which is three (3) business days prior to the expiration of the Property Approval Period, and continuing until each First Closing or Second Closing (provided the Agreement has not been terminated), Seller will not enter into any New Contracts associated with the First Closing Property or Second Closing Property, as applicable, without Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion, and which consent will be deemed to have been denied by Buyer if Buyer does not notify Seller in writing to the contrary within three (3) business days after Seller provides written notice to Buyer of such New Contract; provided, however, that Seller shall be entitled to enter into any New Contracts at any time, without Buyer’s prior written consent, if such New Contracts are terminable within thirty (30) days at no cost to Buyer and are terminated by Seller prior to the applicable Closing Date. Notwithstanding anything to the contrary set forth herein, from and after the Effective Date, Seller shall not enter into any leases, licenses or other similar occupancy agreements applicable to the Property, or any portion thereof, or modify or amend any of the Leases without Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion.”

New Contracts and Leases. Between the Effective Date and the date which is three (3) business days prior to the expiration of the Property Approval Period, (i) Seller will keep Buyer informed of any new Contracts or Leases that are entered into by Seller or any amendments or modifications to the existing Contracts or LeasesContracts, which new Contracts or Leases or {2108-00079/00770738;} -Exhibit P- modifications will survive Closing or otherwise affect the use, operation or enjoyment of the Property after Closing (collectively, "New Contracts"), and (ii) Buyer shall have the no right to object or consent to the terms or conditions of any such New Contracts or amendments or extensions thereto such consent not to be unreasonably withheld or delayed, except as provided belowthereto. Without limiting the generality of the foregoing, Seller will provide Buyer with copies of all New Contracts. Subsequent to the date which is three (3) business days prior to the expiration of the Property Approval Period, and continuing until each First Closing or Second Closing (provided the Agreement has not been terminated), Seller will not enter into any New Contracts associated with the First Closing Property or Second Closing Property, as applicable, without Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion, and which consent will be deemed to have been denied by Buyer if Buyer does not notify Seller in writing to the contrary within three (3) business days after Seller provides written notice to Buyer of such New Contract; provided, however, that Seller shall be entitled to enter into any New Contracts at any time, without Buyer’s prior written consent, if such New Contracts are terminable within thirty (30) days at no cost to Buyer and are terminated by Seller prior to the applicable Closing Date. Notwithstanding anything to the contrary set forth herein, from From and after the Effective Date, Seller shall not enter into any leases, licenses or other similar occupancy agreements applicable to the Real Property, or any portion thereof, or modify or amend any of the Leases without Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion.”

New Contracts and Leases. Between For the period from the Effective ------------------------ Date to the Closing Date, Seller agrees not to enter into any new contract, including any contract for services or capital improvements, which shall survive Closing without first providing Purchaser with a copy of the same for Purchaser's review and the date approval, which is three (3) business days approval prior to the expiration of the Property Approval PeriodDue Diligence Termination Date shall not be unreasonably withheld, (i) Seller will keep Buyer informed conditioned or delayed by Purchaser. Purchaser shall be deemed automatically and irrevocably to have approved of any new Contracts contract (including any new amendment, renewal, expansion, assignment, or Leases that are entered into by Seller or any amendments or modifications to the extension of an existing Contracts or Leases, which new Contracts or Leases or {2108-00079/00770738;} -Exhibit P- modifications will survive Closing or otherwise affect the use, operation or enjoyment of the Property after Closing (collectively, "New Contracts"), and (iiContract) Buyer shall have the right to object or consent to the terms or conditions of any such New Contracts or amendments or extensions thereto such consent not to be unreasonably withheld or delayed, except as provided below. Without limiting the generality of the foregoing, Seller will provide Buyer with copies of all New Contracts. Subsequent to the date which is three (3) business days prior to the expiration of the Property Approval Period, and continuing until each First Closing or Second Closing (provided the Agreement has not been terminated), Seller will not enter into any New Contracts associated with the First Closing Property or Second Closing Property, as applicable, without Buyer's prior written consent, which consent may be withheld in Buyer's sole discretion, and which consent will be deemed to have been denied by Buyer if Buyer does not notify unless Purchaser notifies Seller in writing to of its objection thereto, stating with specificity the contrary reasons for such objection, within three (3) business days after from Purchaser's receipt of a copy of same and related supporting information which Seller provides written notice obtains in the ordinary course. For the period from the Effective Date to Buyer of such New Contract; providedthe Closing Date, however, that Seller shall not be entitled to enter into any New Contracts at new Lease (including any timenew amendment, renewal, expansion, assignment, sublease or extension of any existing Lease) without Buyer’s Purchaser's prior written consentconsent without first providing Purchaser with a copy of same, if together with copies of all Contracts for any Lease-Up Costs associated therewith, to the extent then available. During the period between the Effective Date and the Due Diligence Termination Date, Purchaser shall not unreasonably withhold, condition or delay its consent to any new Lease (including any new amendment, renewal, expansion, assignment, sublease or extension of any existing Lease) and (b) during the period between the Due Diligence Termination Date and the Closing Date, Purchaser may withhold its consent to any new Lease (including any new amendment, renewal, expansion, assignment, sublease or extension of any existing Lease) in its sole and absolute discretion. Purchaser's consent to a new Lease (including any new amendment, renewal, expansion, assignment, sublease or extension of any existing Lease) shall be deemed given unless Seller receives notice of Purchaser's objection thereto, stating with specificity the reasons for such objection, within three (3) business days from Purchaser's receipt of copies of same as provided herein. All new contracts and Leases (including any new amendment, renewal, expansion, assignment, sublease or extension of an existing Contract or Lease) approved or deemed approved pursuant to this Section shall automatically be deemed added to Exhibit P or Exhibit E, as applicable, --------- --------- and all new contracts and Leases (including any new amendment, renewal, expansion, assignment, sublease or extension of an existing Contract or Lease) approved or deemed approved pursuant to this Section, including any Lease-Up Costs associated therewith (including the Lease-Up Costs for the New Seventh Floor Lease), shall be assigned to and assumed by Purchaser at Closing, subject to the provisions of Section 3.3(e). Purchaser further hereby specifically approves the Contracts identified as "pending" on Exhibit P, so long as the same --------- are terminable within by Purchaser without penalty or cost on no more than thirty (30) days days' prior notice. Seller may enter into Other Contracts (including any amendment, renewal, expansion, assignment, sublease or extension of Other Contracts) without restriction and such Other Contracts shall not be assigned to or assumed by Purchaser and shall be terminated without cost or liability to Purchaser, unless the parties otherwise agree in writing at no cost to Buyer and are terminated by Seller Closing. Further, if, prior to the applicable Due Diligence Termination Date, Purchaser objects to any new contract (including any new amendment, renewal, expansion, assignment, or extension of an existing Contract) submitted for its review and approval, Seller shall nonetheless be entitled to enter into the same prior to expiration of the Due Diligence Termination Date and Purchaser's sole remedy shall be to elect not to proceed to Closing Datein accordance with Section 2.3 and receive a refund of the ----------- ▇▇▇▇▇▇▇ Money pursuant to Section 3.5. Notwithstanding anything to the contrary set forth hereinIf, from and after the Effective DateDue Diligence Termination ----------- Date and provided Purchaser has elected to proceed to Closing in accordance with Section 2.3, Purchaser objects to any new contract (including any such new ----------- amendment, renewal, expansion, assignment, or extension of an existing Contract) submitted for its review and approval, Seller shall not be entitled to enter into any leases, licenses or other similar occupancy agreements applicable the same for the period from the Due Diligence Termination Date to the PropertyClosing Date, or any portion thereof, or modify or amend any without the prior approval of the Leases without Buyer's prior written consentPurchaser, which consent may be withheld withheld, conditioned or delayed in BuyerPurchaser's sole discretion.”