EIK definition

EIK means an “eligible independent contractor” as defined in Code Section 856(d)(9). The initial EIK with respect to Trilogy REIT shall be Trilogy Management Services, LLC (which entity may adopt another name prior to Closing).

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EIK means Trilogy Management Services, LLC, a Delaware limited liability company.

EIK means an eligible independent contractor (within the meaning of Section 856(d)(9) of the Code), which is an independent contractor that, at the time such contractor enters into a management or other agreement with a TRS (as defined below) to operate a “qualified health care property,” is actively engaged in the trade or business of operating “qualified health care properties” for a person not related to the TRS or applicable REIT (as defined below);

Examples of EIK in a sentence

• Borrowers shall not and shall not permit any Operator to enter into any Management Agreement with any Person other than EIK Manager for any Collateral Property without the prior written consent of Administrative Agent, provided that any IGT Hospital may engage an OpCo Affiliate to manage any Collateral Property so long as such OpCo Affiliate engages EIK Manager to sub-manage such Collateral Property and such consent shall not be unreasonably withheld, delayed or conditioned.

• Schedule 1.02(b)(vi) sets forth the aggregate amount of the Holdco Rollover Unit Value (together with the EIK Rollover Unit Value, the “Rollover Unit Value”) and the individuals anticipated to constitute Rollover Holders and retain their equity interests of the Company pursuant to the Rollover Agreement, together with the Holdco Rollover Unit Value of each such individual.

• Within fifteen (15) days’ written request of NHI, the Manager shall deliver or cause to be delivered to NHI copies of any notices or reports delivered by an EIK to OpCo pursuant to section 6.2 of the Management Agreement or such other sections of the Management Agreement as NHI may reasonably request from time to time.

• The Key Principal shall be the senior management of EIK Manager as of the Closing Date.

• The Management Agreement provides for the issuance and terms of Profit Units in order to provide equity incentive compensation to selected Directors, executives and other service providers (including the EIK Manager) of the Company and its Affiliates, with such terms, conditions, rights and obligations, including vesting, forfeiture and repurchase, as provided in the Incentive Plan and applicable Profit Unit Agreement.

• Nothing in this Section 8.14 shall prohibit the payment by any Borrower that is an OpCo Affiliate of the fees payable by it to the EIK Manager under the Management Agreements between such Persons, except payments made during the continuance of an Event of Default unless otherwise expressly permitted hereunder.

• At Closing, the EIK shall assume (or shall cause any Subsidiary of the EIK that will hire employees covered under the ▇▇▇▇▇▇▇ CBA to assume) the ▇▇▇▇▇▇▇ CBA and the obligations under the ▇▇▇▇▇▇▇ CBA of Trilogy Healthcare of ▇▇▇▇▇▇▇, LLC.

• No changes to the Key Principal of EIK Manager, shall be made without the approval of the Majority Lenders, which approval shall not be unreasonably withheld, delayed or conditioned, and any such senior management persons so approved shall then be the Key Principal.

• The subtenants under the Subleases with each HUD Master Tenant and the EIK shall enter into a separate Management Agreement substantially in the form set forth on Exhibit C, with such modifications thereto as may be (i) necessary or appropriate to reflect the fact that each such agreement relates only to the Facilities subleased by the applicable subtenant or (ii) required by the mortgagees of such Facilities provided that such changes are not economically adverse to the EIK.

• Each lessee of Real Estate (other than sublessees and sublicensees for providers of resident services, such as haircare, under immaterial subleases and sublicenses, patients and residents) shall be an OpCo Affiliate and such Real Estate shall be operated and managed by EIK Manager.

More Definitions of EIK

EIK means Trilogy Management Services, LLC, a Delaware limited liability company. “EIK Manager” means EIK and any other eligible independent contractor approved by the Majority Lenders (such approval not to be unreasonably withheld, delayed or conditioned) that shall manage the Collateral Properties. On the Closing Date, EIK Manager shall be EIK. “Eligible Accounts” means those Accounts created by a Borrower or an IGT Hospital in the ordinary course of its business, that arise out of such Borrower’s (including on behalf of an IGT Hospital pursuant to an IGT Transaction) sale of goods or rendition of Medical Services, that comply with each of the representations and warranties respecting Eligible Accounts made in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by Revolving Agent in Revolving Agent’s Permitted Discretion to address the results of any field examination performed by (or on behalf of) Revolving Agent from time to time after the Closing Date; and provided, further, that Revolving Agent shall endeavor to provide written notice to Borrowers and Administrative Agent not less than three (3) Business Days prior to the date on which any such eligibility criteria are revised (except such notice shall not be required if an Event of Default exists). In determining the amount to be included, Eligible Accounts shall be calculated net of customer deposits, unapplied cash, taxes, discounts, credits, allowances, and rebates. Eligible Accounts shall not include the following: (a) Accounts that the Account Debtor has failed to pay within (i) if such Account is for Ancillary Services, one hundred twenty (120) days after the original invoice date, and (ii) if such Account is for other Medical Services, one hundred fifty (150) days after the original invoice date; (b) Accounts owed by an Account Debtor (or its Affiliates) (other than Government Receivables generated under Medicare or Medicaid) where fifty percent (50%) or more of all Accounts owed by that Account Debtor (or its Affiliates) are deemed ineligible under clause (a) above; (c) Accounts that have not been invoiced within thirty (30) days (or in a timely manner in accordance with the normal invoicing policies and timing procedures of such Borrower but in any event within sixty (60) days) following the date that goods are sold or services are provided; (d) Accounts with...

EIK has the meaning set forth in Section 4.3.