Common use of New Common Stock Clause in Contracts

New Common Stock. Lessor and Tenant acknowledge that, pursuant to the Bankruptcy Plan, on or about April 20, 2001 VRLP received certain New Common Stock (as defined in the Bankruptcy Plan). Lessor and Tenant acknowledge and agree that (a) such New Common Stock was received by VRLP as additional rent in consideration of the agreement of the lessors under the Master Leases to enter into the Master Leases and thereby agree to charge Base Rent as provided in the Master Leases and in leases to be derived therefrom, (b) such additional rent was paid on or about April 20, 2001 by the delivery of such New Common Stock to VRLP, (c) such additional rent is non-refundable by VRLP or Lessor, and (d) the delivery of such New Common Stock to VRLP does not reduce the amount of Base Rent due and payable hereunder, under the Master Leases or under any other leases derived from this Lease or the Master Leases.

Appears in 2 contracts

Sources: Master Lease Agreement (Ventas Inc), Master Lease Agreement (Kindred Healthcare Inc)

New Common Stock. Lessor and Tenant acknowledge that, pursuant ---------------- to the Bankruptcy Plan, on or about April 20, 2001 VRLP received certain New Common Stock (as defined in the Bankruptcy Plan). Lessor and Tenant acknowledge and agree that (a) such New Common Stock was received by VRLP as additional rent in consideration of the agreement of the lessors under the Master Leases to enter into the Master Leases and thereby agree to charge Base Rent as provided in the Master Leases and in leases to be derived therefrom, (b) such additional rent was paid on or about April 20, 2001 by the delivery of such New Common Stock to VRLP, (c) such additional rent is non-refundable by VRLP or Lessor, and (d) the delivery of such New Common Stock to VRLP does not reduce the amount of Base Rent due and payable hereunder, under the Master Leases or under any other leases derived from this Lease or the Master Leases.

Appears in 2 contracts

Sources: Master Lease Agreement (Ventas Inc), Master Lease Agreement (Kindred Healthcare Inc)