New Centers Clause Samples
New Centers. The JV Parties acknowledge and agree that they will jointly set up JV Clinic Companies to own, build and operate new Clinical Centers in the ******** Territory (the “New Centers”), or, if ***** determines that it is permitted to do so, ******* may *******, ******* and ******* the New Centers. *******shall lead the efforts to source and develop opportunities for New Centers, and will oversee the construction, development and approval of the New Centers as described in Section 1.5. B. ******* shall be ******* pursuant to a Management Service Contract with *******, as a *******, or as a branch or subsidiary of *******.
New Centers. The Borrower will cause each Center and all other material real estate property related to Centers built, acquired or the operation of which commenced after the Closing Date (other than any of the foregoing to be directly or indirectly owned by a Foreign Subsidiary) to be owned or leased by a Domestic Subsidiary that is a Restricted Subsidiary, the capital stock or other equity interests of which has been pledged to the Administrative Agent, for the benefit of the Secured Parties, pursuant to the Pledge Agreement or a supplement thereto.
New Centers. (a) Buyer will pay the New Centers’ Development Payment of *** Dollars ($***) as follows:
(i) Dollars ($***) to Seller within fifteen (15) days of the execution of this Agreement, and
(ii) Dollars ($***) to Seller within fifteen (15) days after Seller notifies Buyer that Seller has entered into a lease for the third New Center.
(b) In addition, Buyer will pay the following to Seller:
(i) One (1) Plasma Pre-Payment of *** Dollars ($***) within fifteen (15) days of execution of this Agreement, as a pre-payment on future Plasma purchases, and
(ii) Four (4) Center Pre-Payments of *** Dollars ($***) upon the execution of each lease agreement for each New Center, as a refundable pre-payment on future Plasma purchases, for a total of *** Dollars ($***). The latter four Center Pre-Payments are each due within fifteen (15) days after Seller notifies Buyer that Seller has entered into a lease for a particular New Center. The Total Pre-Payments will be credited against the Purchase Price for Plasma in accordance with Section 3.4. Payment Due Date Amount Refundable/Non-Refundable Within fifteen (15) days of Execution of this Agreement $ *** $*** refundable/ $*** non-refundable Within fifteen (15) days after Seller notifies Buyer that Seller has entered into the 1st New Center Lease Agreement $ *** refundable Within fifteen (15) days after Seller notifies Buyer that Seller has entered into the 2nd New Center Lease Agreement $ *** refundable Within fifteen (15) days after Seller notifies Buyer that Seller has entered into the 3rd New Center Lease Agreement $ *** $*** non-refundable/ $*** refundable Within fifteen (15) days after Seller notifies Buyer that Seller has entered into the 4th New Center Lease Agreement $ *** refundable