Material Terms of the Operating Agreement Sample Clauses

Material Terms of the Operating Agreement. Tenant shall substantially comply with all material terms and provisions of the Operating Agreement (or any replacement thereof) to be complied with by Tenant, subject to Tenant's right to pursue all available remedies, at law and in equity, with respect to any alleged default by Tenant in the performance of its duties and obligations under the Operating Agreement, or otherwise contest, in good faith and with due diligence, any such alleged default by Tenant; provided, however, that in the event of any casualty or condemnation or other event or circumstances, Tenant shall not be obligated to expend its own funds in excess of such amounts that Tenant would be obligated pursuant to the Lease to expend under such event or circumstances. Tenant shall not enter into any modifications or amendments of Sections 2.03, 2.04, 2.05, 2.09, 3.01, 4.01, 4.02, 4.03, 5.01, 5.02, 6.02, 7.01, 7.02, 8.01, 8.02, 8.03, 8.05, 8.06, 9.01, 9.02, 9.03, 9.05, 11.02, 11.03, 12.01, 12.02, 12.03, 12.04, 13.01, 14.01, 15.01, 15.02, 15.03, 16.01, 16.02, 16.03, 17.01, 18.01, 18.02, 19.03, 19.09, 19.11, 19.12, 19.16, and 19.19 of the Operating Agreement, nor terminate the same prior to the expiration thereof, without Landlord's prior written consent; nor shall Tenant enter into any replacement of the Operating Agreement without Landlord's prior written consent. To the extent required by this Section 20.4.1, Landlord's consent shall not be unreasonably withheld or conditioned so long as any such modification, amendment, termination or replacement of the Operating Agreement does not materially and adversely affect the duties and obligations of the parties thereunder. Notwithstanding the foregoing, in the event that the Operating Agreement is terminated by reason of a default by the Operator thereunder, Landlord shall not unreasonably withhold or condition its consent to the selection by Tenant of another Operator with experience in the assisted living facility business and the execution of a new Operating Agreement in form and substance satisfactory to Tenant and such new Operator. Additionally, Landlord and Tenant acknowledge and agree that in the event that Operating Agreement is terminated for any reason whatsoever and a replacement Operating Agreement is not entered into, this Agreement shall be amended to provide for certain additional terms, conditions and obligations which relate to and provide for the operation of the Retirement Community. Such additional terms and conditions shall ...
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Material Terms of the Operating Agreement. Lessee shall diligently perform and observe all of the terms, covenants and conditions of the Operating Agreement on the part of Lessee to be performed and observed and shall promptly notify Lessor of any notice received by Lessee of any default in the performance or observance of any of the terms, covenants or conditions of the Operating Agreement on the part of Lessee or Operator to be performed and observed. If Lessee shall default in the performance or observance of any material term, covenant or condition of the Operating Agreement on the part of Lessee to be performed or observed, then, without limiting Lessor's other rights or remedies under this Lease or any of the Operative Documents, and without waiving or releasing Lessee from any of its obligations hereunder or under the Operating Agreement, Lessor shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all of the material terms, covenants and conditions of the Operating Agreement on the part of Lessee to be performed or observed.
Sample 1

Related to Material Terms of the Operating Agreement

  • Agreement Terms The terms of the Agreement conform to University policy. The period of performance for the project is approximately two (2) years. The amount of funding support will not exceed $100,000. Since research projects are often amended, this agreement includes provisions for changes in time and scope. University procedures for approval of these changes will be followed and additional conflict of interest review will be done as appropriate.

  • Quality Agreement If appropriate or if required by Applicable Law, the parties will also agree upon a Quality Agreement containing quality assurance provisions for the Manufacture of Product (“Quality Agreement”), which agreement will also be attached to the applicable Work Order and incorporated by reference in the Work Order.

  • Operating Agreement You haves received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Agreement constitutes your consent to and execution of the Operating Agreement, and, that upon acceptance of this Agreement by the Company, you will become a member of the Company as a holder of Shares. When this Agreement is countersigned by the Company, the Operating Agreement shall be binding upon you as of the closing date.

  • COMMENCEMENT OF WORK UNDER A SOW AGREEMENT Commencement of work as a result of the SOW-RFP process shall be initiated only upon issuance of a fully executed SOW Agreement and Purchase Order.

  • Cooperation Agreement At the Closing, PCC and Buyer shall, and PCC shall cause PCC Parent to, execute and deliver the Cooperation Agreement pursuant to which Buyer, PCC Parent and PCC shall provide each other certain information and other assistance in connection with the collection, administration and/or satisfaction of certain of the Retained Liabilities.

  • Pricing Instrument; Execution and Incorporation of Terms The parties hereto will enter into this Indenture by executing the Pricing Instrument. By executing the Pricing Instrument, the Indenture Trustee, the Registrar, the Transfer Agent, the Paying Agent, the Calculation Agent and the Trust hereby agree that the Indenture will constitute a legal, valid and binding agreement between the Indenture Trustee, the Registrar, the Transfer Agent, the Paying Agent, the Calculation Agent and the Trust. All terms relating to the Trust or the Notes not otherwise included herein will be as specified in the Pricing Instrument or Pricing Supplement, as indicated herein.

  • Exhibit Containing Additional Terms Red Hat Satellite Server Red Hat Satellite Server Starter Pack System: a system on which you install or execute all or a portion of the Software. A System includes each instance of the Software installed or executed on, without limitation, a server, work station, laptop, virtual machine, blade, node, partition, appliance or engine, as applicable. If you install or use the optional embedded database, then you agree to comply with the terms located at xxx.xxxxxx.xxx/xxxxxxxx/xxxxxxxxx_xxxxxxxx.xxxx for the embedded database. 1.H Red Hat Satellite Proxy Red Hat Satellite Capsule System: a system on which you install or execute all or a portion of the Software. A System includes each instance of the Software installed or executed on, without limitation, a server, work station, laptop, virtual machine, blade, node, partition, appliance or engine, as applicable. 1.H

  • Contract Terms The contract term will be one (1) year, effective from date of award. The City and the Supplier shall have the option to renew this contract for an additional two (2) one-year periods. The contract shall commence upon the issuance of a Notice of Award by the City of Xxxxxx and shall automatically renew each year, from the date of award by City Council, unless either party notifies the other prior to the scheduled renewal date. At the sole option of the City of Xxxxxx, the contract may be further extended as needed, not to exceed a total of six (6) months.

  • ESSENTIAL TERMS The Contractor acknowledges and agrees that each of the provisions in Articles 30 to 36 hereof constitutes an essential term of the Contract and that any breach of any of these provisions shall entitle UNDP to terminate the Contract or any other contract with UNDP immediately upon notice to the Contractor, without any liability for termination charges or any other liability of any kind. In addition, nothing herein shall limit the right of UNDP to refer any alleged breach of the said essential terms to the relevant national authorities for appropriate legal action.

  • Supply Agreement Seller and Buyer, or their Affiliates, shall have executed the Supply Agreement.

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