Common use of Operation of Facility at End of Term Clause in Contracts

Operation of Facility at End of Term. Upon the expiration of the Term or upon the earlier termination of this Lease and if requested by Lxxxxx, Lxxxxx agrees to (i) continue to manage the operations of the Facility as manager and not as lessee for a period of up to 180 days, (ii) remit to Lessor on a monthly basis the “rent” for the Facility in an amount equal to the cash flow after payment of all expenses (including the management fee) for the Facility (pro-rated through the date of transfer to a new operator), and (iii) provide Lessor with written reports regarding the results of operations for the Facility on a monthly basis. Lxxxxx agrees that it will use all reasonable efforts to prepare to operate the Facility upon expiration or earlier termination of the Term so that the management assistance of Lxxxxx is not needed by Lessor hereunder.

Appears in 3 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

AutoNDA by SimpleDocs

Operation of Facility at End of Term. Upon the expiration of the Term or upon the earlier termination of this Lease and if requested by Lxxxxx, Lxxxxx agrees to (i) continue to manage the operations of the Facility as manager and not as lessee for a period of up to 180 days, (ii) remit to Lessor on a monthly basis the “rent” for fox the Facility in an amount equal to the cash flow after payment of all expenses (including the management fee) for the Facility (pro-rated through the date of transfer to a new operator), and (iii) provide Lessor with written reports regarding the results of operations for the Facility on a monthly basis. Lxxxxx agrees that it will use all reasonable efforts to prepare to operate the Facility upon expiration or earlier termination of the Term so that the management assistance of Lxxxxx is not needed by Lessor hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

Operation of Facility at End of Term. Upon the expiration of the Term or upon the earlier termination of this Lease and if requested by Lxxxxx, Lxxxxx agrees to (i) continue to manage the operations of the Facility as manager and not as lessee for a period of up to 180 days, (ii) remit to Lessor on a monthly basis the “rent” for the Facility in an amount equal to the cash flow after payment of all expenses (including the management fee) for the Facility (pro-rated through the date of transfer to a new operator), and (iii) provide Lessor with written reports regarding the results of operations for the Facility on a monthly basis. Lxxxxx agrees that it will use all reasonable efforts to prepare to operate the Facility upon expiration or earlier termination of the Term so that the management assistance of Lxxxxx is not needed by Lessor hereunder.,

Appears in 2 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

Operation of Facility at End of Term. Upon the expiration of the Term or upon upon, the earlier termination of this Lease and if requested by Lxxxxx, Lxxxxx agrees to (i) continue to manage the operations of the Facility as manager and not as lessee for a period of up to 180 days, (ii) remit to Lessor on a monthly basis the ‘‘rent” for the Facility in an amount equal to the cash flow after payment of all expenses (including the management fee) for the Facility (pro-rated through the date of transfer to a new operator), and (iii) provide Lessor with written reports regarding the results of operations for the Facility on a monthly basis. Lxxxxx agrees that it will use all reasonable efforts to prepare to operate the Facility upon expiration or earlier termination of the Term so that the management assistance of Lxxxxx is not needed by Lessor hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

AutoNDA by SimpleDocs

Operation of Facility at End of Term. Upon the expiration of the Term or upon the earlier termination of this Lease and if requested by LxxxxxLandlord, Lxxxxx Txxxxx agrees to (i) continue to manage the operations of the Facility as manager and not as lessee tenant for a period of up to 180 days, (ii) remit to Lessor Landlord on a monthly basis the “rent” for the Facility in an amount equal to the cash flow after payment of all expenses (including the management fee) for the Facility (pro-pro- rated through the date of transfer to a new operator), and (iii) provide Lessor Landlord with written reports regarding the results of operations for the Facility on a monthly basis. Lxxxxx Lxxxxxxx agrees that it will use all reasonable efforts to prepare to operate the Facility upon expiration or earlier termination of the Term so that the management assistance of Lxxxxx Txxxxx is not needed by Lessor Landlord hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.