Comparable Facility definition

Comparable Facility means a facility having as its primary use the Primary Intended Use and which is reasonably acceptable to Landlord, with an expected future profitability substantially equivalent to or greater than that of the Designated Leased Property which Tenant proposes that it replace, both immediately prior to such substitution and as reasonably projected over the term of this Agreement, taking into account any cash paid or received in connection with the substitution and any other relevant factors.

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Comparable Facility means a facility reasonably acceptable to the Purchaser, operated as the same type of business as the Facilities, with an expected future profitability substantially equivalent to or greater than that of the Designated Facility both immediately prior to such substitution and as reasonably projected over the term of the Facilities Lease, taking into account any relevant factors. Magellan shall pay all costs and expenses incurred in connection with any substitution of facilities, including reasonable attorneys' fees and expenses. After the substitution, a Comparable Facility shall be treated as if it were a Facility under this Agreement.

Comparable Facility means the amended and restated facility substantially in the form attached hereto as Exhibit G.

Examples of Comparable Facility in a sentence

• If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property.

• Magellan shall have the right at any time not later than thirty (30) days prior to Closing to substitute a Comparable Facility (as hereinafter defined) for any Facility it designates (a "DESIGNATED FACILITY"), provided that such substitution will satisfy the Purchaser's requirements related to taxation as a real estate investment trust.

• If the Lessor shall have determined that the Proposed Facility Constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property.

• If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 105 below) and this Lease shall thereupon terminate as to the Leased Property.

• If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 25.4 below) and this Lease shall thereupon terminate as to the Leased Property.

• If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article I 8 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property.

• After the substitution, a Comparable Facility shall be treated as if it were a Facility under this Agreement.

• As used herein, the term "Comparable Facility" shall mean a facility reasonably acceptable to the Purchaser, operated as the same type of business as the Facilities, with an expected future profitability substantially equivalent to or greater than that of the Designated Facility both immediately prior to such substitution and as reasonably projected over the term of the Facilities Lease, taking into account any relevant factors.

• Magellan shall have the right at any time not later than thirty (30) days prior to Closing to substitute a Comparable Facility (as hereinafter defined) for any Facility it designates (a "Designated Facility"), provided that such substitution will satisfy the Purchaser's requirements related to taxation as a real estate investment trust.

More Definitions of Comparable Facility

Comparable Facility means a nuclear power plant compare to the relevant nuclear power plant as determined by the Authority.

Comparable Facility. 4 1.17 "Condemnation" 4

Comparable Facility means any credit agreement, loan agreement, indenture, note purchase agreement, repurchase agreement or similar agreement of Upstart Network or any of its Affiliates in connection with any financing or sale arrangement of Loans.

Comparable Facility shall be defined as an adult care residence, assisted living facility or other similar senior housing facility which Lessor determines (a) has an appraised Fair Market Value greater than or equal to the greater of (i) the appraised Fair Market Value of the Leased Property at the Commencement Date or (ii) the appraised Fair Market Value of the Leased Property at the time that the applicable Substitution Notice is furnished to Lessor (based on appraisal criteria then in effect), (b) has a Rent Coverage Ratio greater than or equal to the greater of (i) the Rent Coverage Ratio of the Leased Property as of the Commencement Date or (ii) the Rent Coverage Ratio of the Leased Property at the time that the applicable Substitution Notice is furnished to Lessor, (c) provides a mix of services similar to the Leased Property and (d) is otherwise reasonably acceptable, in all respects, to Lessor (based on Lessor's usual and customary property evaluation criteria then in effect). Lessee may not exercise its Substitution Right more than once in any calendar year.

Comparable Facility. As defined in Section 25.1.