Identified Site definition
Examples of Identified Site in a sentence
In addition, each Possible Site on which (or within 15 miles of which) ALC indicates during the Second 90-Day Period that an assisted living facility will be developed shall be considered an "Identified Site" for purposes --------------- of this Agreement.
For the two-year period following the Effective Time, ALC shall not develop, construct, obtain a certificate of occupancy with respect to, purchase and/or operate an assisted living facility that is at (or within 15 miles of) a Qualified Site, unless such Qualified Site is an Identified Site.
For purposes of this Agreement, an "Earnout Payment" shall be payable in --------------- certified or ALC company check and shall equal (A) $7,500 multiplied by (B) the number of "units" located on or to be developed on (or within 15 miles of) such Identified Site divided by (B) 4,857,500, for each share of HCI Common Stock held by such Former HCI Stockholder immediately prior to the Effective Time.
Each Qualified Site on which (or within 15 miles of which) ALC indicates during the First 90-Day Period that an assisted living facility will be developed shall be considered an "Identified Site" for purposes of this --------------- Agreement.
Final approval for the release of any non-real property collateral shall be subject to satisfactory review and approval by Lender of all lease documents related to the Identified Site.
In contemplation of such request, the Lender may consider, among other things: (i) whether an Event of Default exists or has previously occurred; (ii) the value, use, utility, brand, location and other attributes of the Identified Site and the Substitute Site; (iii) the impact of the substitution on the FCCR and Total Debt to EBITDA covenants; and (iv) any and all other factors Lender, in its sole and absolute discretion, deems relevant.
Provided, that each of the conditions precedent herein shall have been satisfied in Lender's discretion, Lender shall release the lien on the Collateral (specifically excluding the Mortgage, which Mortgage shall remain as a fee mortgage/deed of trust as to said Identified Site) which relates to the Identified Site for which the Franchisee Transfer has been approved.
All such Material Contamination identified in such Baseline Reports, together with any other Material Contamination existing at an Identified Site or emanating or released therefrom prior to the Closing Date, is hereinafter referred to as Material Existing Contamination.
Borrower has notified Lender that as to one or -------------------- more of the Identified Sites (other than Unit #682) that Borrower may seek to lease the real property comprising the Identified Site to a franchisee of Borrower's "Sizzler" style restaurants and to sell to said franchisee the non- real estate Collateral related to the operations of the business at said Identified Site (a "Franchisee Transfer").
In the event that Borrower shall fail to replace an Identified Site with a Substitute Site within ninety days of the date Borrower ceases operations at the Identified Site, it shall be an event of default hereunder, except with respect to a casualty or condemnation, in which cases the time period in the last sentence of Section 4.11(a) shall be applicable.