Operating Deficit Loans Sample Clauses

Operating Deficit Loans. Tenant and Balanced Care Corporation have entered into an Shortfall Funding Agreement, dated the date hereof (the "Shortfall Funding Agreement"), whereby Balanced Care Corporation shall provide unlimited operating deficit loans ("Operating Deficit Loans") to Tenant to fund any payments of Base Rent or Additional Rent or working capital requirements of Tenant during the Lease Term. The Operating Deficit Loans shall be made after the Letter of Credit and the Excess Cash Flow in the Mandatory Sweep Account have been depleted. The Shortfall Funding Agreement provides that upon notice from Landlord or Tenant to Balanced Care Corporation of (i) insufficient funds to pay scheduled Base Rent or Additional Rent, and (ii) the depletion of the Letter of Credit and Mandatory Sweep Account, Balanced Care Corporation shall make an Operating Deficit Loan to Tenant within three (3) days of receipt of such notice, the proceeds of which shall be disbursed directly to Landlord to pay such Base Rent or Additional Rent. Balanced Care Corporation shall have a leasehold mortgage on the Tenant's interest in the Lease to secure the Operating Deficit Loans (the "Leasehold Mortgage" and together with the Shortfall Funding Agreement, the Option Agreement and any other documents or instruments which have been executed and delivered in connection with the Operating Deficit Loans from Tenant to Balanced Care Corporation shall collectively be referred to hereinafter as "Operating Deficit Loan Documents"). Tenant hereby agrees that (i) Tenant shall not amend or modify the Operating Deficit Loan Documents without the prior written consent of the Landlord and (ii) Tenant shall not make any payments on account of the Operating Deficit Loans until all payments required to be paid under this Lease by Tenant have been paid in full and except as provided in the Subordination and Standstill Agreement, dated the date hereof, by and among Tenant, Landlord and Balanced Care Corporation.