RIDEA definition
Examples of RIDEA in a sentence
Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to cause each Master Tenant and each Subtenant to cause the Non-MOB Facilities (other than the RIDEA Facilities) to be operated in a manner that will not result in a reduction, suspension, denial or elimination of reimbursement for services from, or recoupment for, any Program.
Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to cause all admission agreements and services agreement with residents of the Non-MOB Facilities (other than the RIDEA Facilities) to materially comply with all Health Care Requirements.
At the Closing, HCP and Brookdale shall cause RIDEA Op-HoldCo to execute each RIDEA OpCo-Sub LLC Agreement in the form approved by each of HCP and Brookdale.
Borrower shall deposit, or cause to be deposited, all revenue generated by the Properties (other than the RIDEA Facilities) and due and payable to Borrower into the Restricted Account.
Borrower shall use commercially reasonable efforts to cause each Master Tenant and each Subtenant to cause the Non-MOB Facilities (other than the RIDEA Facilities) to be operated in a manner that will not result in a reduction, suspension, denial or elimination of reimbursement for services from, or recoupment for, any Program.
At the Closing, an amount equal to the Special Distribution (as hereinafter defined) shall be paid over by RIDEA P-HoldCo to HCP RIDEA P-HoldCo Member in immediately available funds as a special distribution to HCP RIDEA P-HoldCo Member pursuant to the RIDEA P-HoldCo LLC Agreement and this Agreement.
In exchange for such contributions to RIDEA P-HoldCo, HCP RIDEA P-HoldCo Member shall receive eighty percent (80%) of the membership interests in RIDEA P-HoldCo.
At the Closing, HCP and Brookdale shall cause RIDEA P-HoldCo to execute each RIDEA Prop-Sub LLC Agreement in the form approved by each of HCP and Brookdale.
As of the Effective Date, the RIDEA Contributed Facilities do not secure Indebtedness.
For the avoidance of doubt, Landlord has the right to enter into a Superior Lease with an Affiliate for any Community as part of a RIDEA Transaction involving such Community.