Operating Contracts definition
Examples of Operating Contracts in a sentence
With respect to any such contracts set forth on the Certification of Operating Contracts, each such contract is valid and binding on the Seller and is in full force and effect in all material respects.
No agreements, undertakings or contracts affecting the Property, written or oral, will be in existence as of the Closing, except as set forth on the Certification of Operating Contracts, and true and correct copies of such contracts have been delivered to Purchaser.
To the extent assignable or transferable, all permits, licenses, certificates of occupancy, and governmental approvals which relate to the Real Property, Tangible Property, Leases, the Contract Rights or the Operating Contracts (collectively, the "PERMITS" and any pending applications thereon or the renewal thereof).
In no event, however, shall Agent or any Lender have any obligation or duties whatsoever to perform any covenant or agreement of Borrower contained herein or in any of the Loan Documents, Timeshare Documents or Operating Contracts, and any such performance by Agent shall be wholly discretionary with Agent.
All management, services and similar agreements relating to the Property that are intended to be assigned by Seller and to be assumed by Purchaser are described on the Certification of Operating Contracts (collectively, the "MANAGEMENT AGREEMENTS"), and all such Management Agreements are terminable as of Closing.