Facility Lease. The Facility is subject to that certain Lease, made as of November 14th, 1986, by and between the Partnership and Health Resources of Colchester, Inc., a Connecticut corporation, as amended by those certain Amendments of Lease, made as of November 18, 1992 and December 17, 1993 (collectively, the "Lease"). Buyer agrees that the Lease will be assumed by Buyer on the Closing Date on the same economic terms existing on the Closing Date; provided, that the amount of annual rent payable to Buyer pursuant to Section 2.1 of the Lease will be fixed to equal the annual debt service payments under the indebtedness described in such section.
Appears in 2 contracts
Sources: Purchase Agreement (Multicare Companies Inc), Purchase Agreement (Genesis Eldercare Acquisition Corp)