Common use of Right to Operate Clause in Contracts

Right to Operate. From the execution of the PSA through the Closing, Seller or its agent shall continue to manage and operate the property in a first class manner consistent with the operation at the present time; however, during this period Seller shall not implement any operational changes, including, without limitation, the termination, extension or renewal of major service contracts in effect on the date the Purchase Agreement is executed, or enter into any new major service contracts (unless cancelable by the owner on not more than 30 days notice) or leases, without having first obtained the written consent of Purchaser, such consent not to be unreasonably withheld. Following the expiration of the Due Diligence Period, no new leases or management/operating agreements may be signed by Seller without the written consent of Purchaser.