INCREASES IN NHP'S MAXIMUM INVESTMENT Sample Clauses

INCREASES IN NHP'S MAXIMUM INVESTMENT. (a) The parties hereby acknowledge and agree that the Budgets attached hereto as Exhibit "C" shall include amounts ("Equipment Amounts") for new equipment, furniture, furnishings and other personal property (hereinafter collectively referred to as the "New Equipment") purchased or to be purchased on behalf of NHP or MLD by Developer, and then leased under the Leases to the respective Tenants for use at the respective Facilities. The portion of the Equipment Amounts set aside for each respective Facility shall be clearly set forth in the Budgets attached as Exhibit "C" hereof. Applications for Payment for the New Equipment shall be made by Developer in the manner required under and in compliance with Paragraph 2.11(e) and the other provisions of applicable Development Agreements. Effective as of the date of payment, any amounts paid by NHP or MLD for New Equipment at each Facility shall be treated as a Development Advance under the Development Agreement for such Facility, and correspondingly, under the respective Leases (for all purposes, including, without limitation, calculation of Minimum Rent accruing or payable thereunder) as advances under such Development Agreements for Work and as increases in Landlord's Investment in such Facility, regardless of whether such Facility is an Incomplete Facility or is already operating. For purposes of the Master Agreement, the term "NHP's Maximum Investment"
Sample 1
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INCREASES IN NHP'S MAXIMUM INVESTMENT. The parties may in the future mutually agree in writing, by amendment of this Agreement, to (i) increase the number of Properties or Facilities governed by this Agreement (ii) apply any Under Budget Amount to the development of improvements on such additional Properties or Facilities, and/or (iii) increase NHP's Maximum Investment; provided, however, if and when BCC or its Affiliates have received assignment of and/or assumed the rights, duties, and obligations of the Tenants under all the Leases for all the Transactions, then (A) BCC and its Affiliates hereby agree that all similar transactions by and between NHP and its Affiliates and BCC and its Affiliates, shall be defined as Transactions for purposes of this Agreement and be subject to this Agreement for all purposes, and (B) for purposes of this sentence, Elder Care, Oakhaven, and such Tenants shall cease to be parties to this Agreement. NHP's Maximum Investment shall not be increased for any reason without the express written consent of NHP, which consent shall be at the sole discretion of NHP, and no application of an Under Budget Amount as contemplated in Paragraph 6(b) above shall constitute a consent to increase NHP's Maximum Investment. This Agreement is made effective as of March 27, 1998. "NHP" NATIONWIDE HEATH PROPERTIES, INC., a Maryland corporation By: /s/ GARY X. XXXXX -------------------------------- Gary X. Xxxxx, Xxce President "MLD" MLD DELAWARE TRUST, a Delaware business trust By: /s/ MARK X. XXXXXXX -------------------------------- Mark X. Xxxxxxx, Xxustee "BCC" BALANCED CARE CORPORATION, a Delaware corporation By: /s/ ROBIX X. XXXXXX ---------------------------------- Name: Robix X. Xxxxxx -------------------------------- Title: Assistant Secretary ------------------------------- "DEVELOPER" BCC DEVELOPMENT AND MANAGEMENT CO., a Delaware corporation By: /s/ ROBIX X. XXXXXX ----------------------------------- Name: Robix X. Xxxxxx --------------------------------- Title: Secretary -------------------------------- "ELDER CARE" ELDER CARE OPERATORS, LLC, a Delaware limited liability company By: /s/ signature missing ----------------------------------- Name: --------------------------------- Title: -------------------------------- "OAKHAVEN" OAKHAVEN ELDER LIVING, INC. By: /s/ signature missing ----------------------------------- Name: --------------------------------- Title: -------------------------------- EXHIBIT "A" SCHEDULE OF PROJECTS Maximum NHP Name of Facility Location Investm...
Sample 1
INCREASES IN NHP'S MAXIMUM INVESTMENT. The parties may in the future mutually agree in writing, by amendment of this Agreement, to (i) increase the number of Properties or Facilities governed by this Agreement (ii) apply any Under Budget Amount to the development of improvements on such additional Properties or Facilities, and/or (iii) increase NHP's Maximum Investment; provided, however, if and when BCC or its Affiliates have received assignment of and/or assumed the rights, duties, and obligations of the Tenants under all the Leases for all the Transactions, then (A) BCC and its Affiliates hereby agree that all similar transactions and/or leases by and between NHP and its Affiliates and BCC and its Affiliates, shall be defined as Transactions and/or Other Leases for purposes of this Agreement and be subject to this Agreement for all purposes, including, without limitation, the cross default and cross renewal provisions set forth herein, and (B) for purposes of this sentence, Tenants' Owner and such Tenants shall cease to be parties to this Agreement. NHP's Maximum Investment shall not be increased for any reason without the express written consent of NHP, which consent shall be at the sole discretion of NHP, and no application of an Under Budget Amount as contemplated in Paragraph 6(b) above shall constitute a consent to increase NHP's Maximum Investment.
Sample 1

Related to INCREASES IN NHP'S MAXIMUM INVESTMENT

  • Minimum Investment Prior to the Rent Commencement Date, Tenant, at Tenant’s sole cost and expense, shall refurbish, redecorate and modernize the interiors and exteriors of the Premises, and otherwise complete the initial improvements necessary and appropriate to commence operations in the Premises (the “Initial Improvements”), at a minimum cost of the Minimum Investment Amount or less than said amount provided Tenant complies with the Concessions Design Guidelines and receives Design Review Committee approval. As-Built drawings of fire sprinkler and fire alarm systems must be submitted to Building Inspection and Code Enforcement (“XXXX”) in AUTOCAD “.DWG” format within 30 days of issuance of a Temporary Certificate of Occupancy (TCO). Within ninety (90) days after substantial completion of the Initial Improvements, Tenant must provide to City an electronic PDF file and a hard copy set of as-built drawings and an affidavit, signed under penalty of perjury by both Tenant and Tenant’s general contractor, architect or construction manager, stating the hard construction costs paid by Tenant to complete the Initial Improvements, together with copies of paid invoices and lien waivers substantiating the costs stated in the affidavit. Such “hard construction costs,” which must equal or exceed the Minimum Investment Amount, may include architectural and engineering fees, provided the credit for such costs against the Minimum Investment Amount shall not exceed fifteen percent (15%) of the Minimum Investment Amount. The minimum investment may not include financial costs, interest, inventory, pre-opening expenses, inter-company charges related to construction, business interruption, overhead, or debt service on any construction loan, or any charges paid by Tenant to an affiliate. If Director disputes the amount of investment claimed by Tenant, Director may, at City’s expense, hire an independent appraiser to determine the cost of the investment. If the independent appraiser determines that the investment is less than the Minimum Investment Amount, the deficiency, as well as City’s costs of hiring such independent appraiser, will be paid to City by Tenant within sixty (60) days of City’s written notice of the appraiser’s determination. At any time, upon three (3) business days’ notice, City or its representatives may audit all of Tenant’s books, records and source documents related to the hard construction costs paid by Tenant to complete the Initial Improvements. If the audit reveals that the hard construction costs paid by Tenant were less than those stated in Tenant’s affidavit, then Tenant must pay City for the costs incurred by City in connection with the audit plus any additional deficiency discovered between the hard construction costs paid by Tenant and the Minimum Investment Amount. City, at City’s sole discretion, may require that Tenant comply with the terms of a Tenant Work Letter setting forth additional terms relating to Tenant’s construction of the Initial Improvements, and Tenant hereby agrees to comply with any such Tenant Work Letter.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2006 and each Fiscal Year ending thereafter $ 5,000,000 (b) [Intentionally Deleted]

  • Minimum Amounts and Maximum Number of Tranches All borrowings, prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each Eurodollar Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than five Eurodollar Tranches outstanding at any time.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Maximum Interest Regardless of any provision contained in any of the Loan Documents, in no contingency or event whatsoever shall the aggregate of all amounts that are contracted for, charged or received by Agent or any Lender pursuant to the terms of this Agreement or any of the other Loan Documents and that are deemed interest under Applicable Law exceed the highest rate permissible under any Applicable Law (the “Maximum Rate”). No agreements, conditions, provisions or stipulations contained in this Agreement or any of the other Loan Documents or the exercise by Agent of the right to accelerate the payment or the maturity of all or any portion of the Obligations, or the exercise of any option whatsoever contained in any of the Loan Documents, or the prepayment by any Obligor of any of the Obligations, or the occurrence of any contingency whatsoever, shall entitle Agent or Lenders to charge or receive in any event, interest or any charges, amounts, premiums or fees deemed interest by Applicable Law (such interest, charges, amounts, premiums and fees referred to herein collectively as “Interest”) in excess of the Maximum Rate and in no event shall any Obligor be obligated to pay Interest exceeding such Maximum Rate, and all agreements, conditions or stipulations, if any, which may in any event or contingency whatsoever operate to bind, obligate or compel any Obligor to pay Interest exceeding the Maximum Rate shall be without binding force or effect, at law or in equity, to the extent only of the excess of Interest over such Maximum Rate. If any Interest is charged or received with respect to the Obligations in excess of the Maximum Rate (“Excess”), each Obligor stipulates that any such charge or receipt shall be the result of an accident and bona fide error, and such Excess, to the extent received, shall be applied first to reduce the principal Obligations and the balance, if any, returned to the Obligors, it being the intent of the parties hereto not to enter into an usurious or otherwise illegal relationship. The right to accelerate the maturity of any of the Obligations does not include the right to accelerate any Interest that has not otherwise accrued on the date of such acceleration, and neither Agent nor any Lender intends to collect any unearned Interest in the event of any such acceleration. Each Obligor recognizes that, with fluctuations in the rates of interest set forth in this Agreement, and the Maximum Rate, such an unintentional result could inadvertently occur. All monies paid to Agent or any Lender hereunder or under any of the other Loan Documents, whether at maturity or by prepayment, shall be subject to any rebate of unearned Interest as and to the extent required by Applicable Law. By the execution of this Agreement, each Obligor covenants that (i) the credit or return of any Excess shall constitute the acceptance by each Obligor of such Excess, and (ii) each Obligor shall not seek or pursue any other remedy, legal or equitable, against Agent or any Lender, based in whole or in part upon contracting for, charging or receiving any Interest in excess of the Maximum Rate. For the purpose of determining whether or not any Excess has been contracted for, charged or received by Agent or any Lender, all Interest at any time contracted for, charged or received from any Obligor in connection with any of the Loan Documents shall, to the extent permitted by Applicable Law, be amortized, prorated, allocated and spread in equal parts throughout the full term of the Obligations. Obligors, Agent and Lenders shall, to the maximum extent permitted under Applicable Law, (i) characterize any non-principal payment as an expense, fee or premium rather than as Interest and (ii) exclude voluntary prepayments and the effects thereof. The provisions of this Section 3.10 shall be deemed to be incorporated into every Loan Document (whether or not any provision of this Section is referred to therein). All such Loan Documents and communications relating to any Interest owed by any Obligor and all figures set forth therein shall, for the sole purpose of computing the extent of Obligations, be automatically recomputed by the Obligors, and by any court considering the same, to give effect to the adjustments or credits required by this Section 3.10.

  • Maximum Amount In consideration of the services to be performed by Contractor, the State agrees to pay Contractor, in accordance with the payment provisions specified in Attachment B, a sum not to exceed $250,000.00.

  • Loan Amount 4. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • Previous Investments This Agreement shall also apply to investments made before its entry into force by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the latter's laws and regulations.

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