Operation Pending Closing. Between the Effective Date and the Closing Date, Seller shall not permanently close any of the service stations on the Properties, without the approval of Purchaser, except for any termination or nonrenewal of any Fee & Lease Dealer Agreement for any reason permitted by the PMPA. Notwithstanding the foregoing, Seller may close any service station temporarily to change the franchisee at the Property, and to repair or rebuild the improvements therein. Seller will use reasonable commercial efforts to maintain the current operations on, and the repair and maintenance of, the Properties between the Effective Date and the Closing Date.
Appears in 2 contracts
Sources: Supplemental Agreement to Agreement of Purchase, Sale and Assignment of Marketing Assets (Tosco Corp), Supplemental Agreement to Agreement of Purchase, Sale and Assignment of Marketing Assets (Tosco Corp)