Master Facilities Plan Clause Samples

Master Facilities Plan. The Parties acknowledge that IPS is in the process of preparing a strategic plan to identify the best and most efficient use of its facilities (“Master Facilities Plan”) and the Facilities will be included in the Master Facilities Plan. The Parties agree that IPS may, pursuant to the Master Facilities Plan or otherwise, terminate Operator’s rights under this Agreement relating to the Facilities (“Facilities Rights”) by giving written notice of such termination (“Facilities Notice”) to Operator as follows: (a) If IPS provides a Facilities Notice on or before August 1, 2022, Operator’s Facilities Rights shall continue, and Operator shall continue to operate the School in the Facilities pursuant to this Agreement, through and including June 30, 2023; (b) If IPS provides a Facilities Notice after August 1, 2022, Operator’s Facilities Rights shall continue, and Operator shall continue to operate the School in the Facilities pursuantto this Agreement, through the remainder of the Notice Year and (i) through the first School Year immediately following the Notice Year if the Facilities Notice is provided on or before October 1 of the Notice Year, or (ii) through the first and second School Years immediately following the Notice Year if the Facilities Notice is provided after October 1 of the Notice Year; (c) For purposes of this Section 8.26, a “Notice Year” is the School Year in which the Facilities Notice is provided; and (d) If a Facilities Notice is provided, the Parties may, at each of the Parties’ discretion, work together to attempt to agree upon a new location for the School and/or to a different period of time in which Operator will continue operating the School in the Facilities.