Common use of OPERATIONAL TRANSFER Clause in Contracts

OPERATIONAL TRANSFER. As of the date hereof, Management Company will commence operations of the Facility and Mountain West Retirement Corporation, dba Bonaventure Senior Living, an Oregon corporation (“Existing Operator”), the manager of the Facility immediately prior to the Commencement Date, will cease managing the Facility. In order to facilitate a transition of operational and financial responsibility from Existing Operator to Management Company in a manner that will ensure the continued operation of the Facility after the Commencement Date in compliance with applicable law and in a manner that does not jeopardize the health and welfare of the residents of the Facility, Management Company and Tenant hereby agree as follows:

OPERATIONAL TRANSFER. As of the date hereof, Management Company Manager will commence operations of the Facility and Mountain West Retirement Corporation, dba Bonaventure Senior Living, an Oregon corporation (“Existing Operator”), the manager of the Facility immediately prior to the Commencement Effective Date, will cease managing the Facility. In order to facilitate a transition of operational and financial responsibility from Existing Operator to Management Company Manager in a manner that will ensure the continued operation of the Facility after the Commencement Effective Date in compliance with applicable law and in a manner that does not jeopardize the health and welfare of the residents of the Facility, Management Company Manager and Tenant hereby agree as follows: