Major Contracts definition

Major Contracts means any Contract with a Major Contractor or Major Subcontractor.

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Major Contracts has the meaning ascribed to it in Section 3.10.

Major Contracts means all Space Leases in excess of 2,000 square feet, and all Leases, consulting agreements, joint venture agreements or other contracts between Borrower and a third party operator (including joint ventures in which Borrower has an interest) relating to food and beverage operations at the Property.

Examples of Major Contracts in a sentence

• None of Borrower, Manager or any other Person acting on Borrower’s behalf has given or received any notice of default under any of the Major Contracts that remains uncured or in dispute.

• None of Borrower, Manager, any Affiliate of Borrower or any other Person acting on Borrower’s behalf has given or received any notice of default under any of the Major Contracts that remains uncured or in dispute.

• The Management Agreement and the Major Contracts were entered into on commercially reasonable terms.

• Borrower shall not enter into any new Major Contracts or amend any existing Major Contracts without, in each instance, first obtaining Lender’s prior consent, which consent shall not be unreasonably withheld.

• Borrower shall be required to obtain Lender’s prior written approval of any and all Major Contracts affecting the Property, which approval may be granted or withheld in Lender’s reasonable discretion.

More Definitions of Major Contracts

Major Contracts has the meaning set forth in Section 12(b) of Schedule A.

Major Contracts. Any contract for the purchase of goods or services or any other agreement which requires payments in excess of $50,000 per year for any Facility or which cannot be terminated without penalty or termination fee on sixty (60) days notice or in which the provider of the goods or services is Emeritus or an Affiliate (except pursuant to Group Services approved in connection with an Annual Plan).

Major Contracts means (i) any management agreement relating to the Properties, (ii) [intentionally omitted] and (iii) any brokerage, leasing, cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) relating to the Properties, in each case involving payment or expense of more than One Hundred Thousand and 00/100 Dollars ($100,000.00) during any twelve (12) month period, unless cancelable on thirty (30) days or less notice without requiring payment of termination fees or payments of any kind (other than amounts that accrued prior to the termination date).

Major Contracts. Any contract for the purchase of goods or services or any other agreement which requires payments in excess of $50,000 per year for any Facility or has a noncancellable term in excess of one year or in which the provider of the goods or services is an Emeritus Entity or an Affiliate of any of them.

Major Contracts has the meaning set forth in Section 8A of Schedule C attached hereto.

Major Contracts mean the agreements listed in Appendix 1 hereto, including a series of Controlling Agreements by and among the Pledgor and/or the Company and the Pledgee, such as the Exclusive Business Cooperation Agreement.

Major Contracts means all Contracts written in excess of $250,000.00.