Patient Trust Accounts Sample Clauses

Patient Trust Accounts. There are no deficiencies in any of the Patient Trust Accounts held for the benefit of residents of any of the Retained Facilities. Each Mariner Entity has at all times properly prepared and filed all accountings for Patient Trust Accounts required by applicable law or reconciled and rectified any improperly prepared or filed accountings.

Patient Trust Accounts. At such time as a Proposed Operator for any Facility has all Necessary Licenses, Servicer and the applicable Licensee will transfer the patient trust accounts held for the benefit of residents of the relevant Facility to the Proposed Operator of that Facility. Promptly thereafter, Servicer and the applicable Licensee will furnish to such Proposed Operator current bank statements with respect to such accounts. Such Proposed Operator shall thereupon assume all liabilities arising thereunder other than liabilities for acts or omissions by the Licensee prior to the Effective Time or arising out of gross negligence or willful misconduct of Servicer or Licensee after the Effective Time.

Patient Trust Accounts. Exhibit 3.19 contains a true, correct, and complete accounting, properly reconciled as of the Closing Date, of all patient trust funds held by Seller in respect to the Facility.

Patient Trust Accounts. Buyer acknowledges that Seller will ---------------------- transfer all of its patient trust accounts to Buyer as of the Closing Date, which patient trust accounts are attached as Exhibit 3.19 hereto. With respect to such patient trust accounts, Buyer agrees to assume custody of such accounts and deal with them in a fiduciary capacity required by law;

Patient Trust Accounts. At such time as a Proposed SNH Licensee has received all Necessary Licenses with respect to a Facility and has given the Mariner Licensee notice as provided in Section 3.9, the Mariner Licensee will transfer the patient trust accounts held for the benefit of residents of such Facility to the Proposed SNH Licensee, together with all records and an accounting regarding such accounts.

Patient Trust Accounts. 3.1 On or prior to the Effective Date, County shall provide to Lessee a true, correct and complete accounting (properly reconciled) certified as being true, correct and complete by County of any patient trust funds and an inventory of all residents’ property held by County on the Effective Date for patients at the Facility, a copy of which is attached hereto as Schedule 3 (“Patient Trust Funds and Property”).