Terminated Facility definition
Examples of Terminated Facility in a sentence
In the event of any such termination of this Lease with respect to any Terminated Facility which is located in the State of California, and in addition to any other rights and remedies Lessor may have, Lessor shall have all of the rights and remedies of a lessor as provided under Section 1951.2 of the California Civil Code.
Following the termination of either of the Master Leases as to one or more Facilities, AHC will, if requested by Omega, continue to operate the Terminated Facility or Facilities for a period not to exceed six (6) months.
The Operations Transfer Agreement shall be modified as appropriate if Omega (Kansas) is the owner of the Terminated Facility.
After such portion of the Leased Property relating to such Terminated Facility has been relet by Lessor, Lessee shall pay to Lessor on the tenth (10th) day of each calendar month the difference between the monthly rentals and other charges provided in this Lease related to such Terminated Facility for the preceding calendar month (had this Lease not been terminated) and those actually collected by Lessor with respect to such reletting for that month.
Upon ten (10) days written notice, Buyer shall reimburse Seller for severance payments in excess of $250,000, in the aggregate, made by Seller to Terminated Facility Employees in accordance with the Severance Policy; provided, however, that Buyer shall have no obligation to reimburse Seller for such severance payments unless Seller has delivered to Buyer evidence reasonably acceptable to Buyer of all severance payments to be made to Terminated Facility Employees in accordance with the Severance Policy.
For one (1) year after the termination of either of the Master Leases as to one or more Facilities, neither AHC nor any affiliate of AHC will directly solicit any employees or patients from a Terminated Facility.
During such period, Omega or Omega (Kansas), as appropriate, shall be responsible for paying all expenses of operation of the Terminated Facility or Facilities including a five percent (5%) management fee to AHC or an affiliate of AHC, to the extent that such expenses are not covered by revenues received with respect to the Terminated Facility or Facilities.
Facilities In order to assure the orderly transition of any one or more of the Facilities as to which either of the Master Leases is terminated (a "Terminated Facility"), promptly upon Omega identifying a new operator for the Terminated Facility (a "New Operator"), the parties hereto and New Operator shall enter into an Operations Transfer Agreement with respect to the Terminated Facility in the form attached hereto as Exhibit F.
Lease Guaranty Recitals Letter Agreement Recitals Master Leases Recitals Omega Introduction Omega Kansas Introduction Omega Facilities Recitals Omega Master Lease Recitals Omega Security Agreement Recitals Purchase Agreement Recitals Security Deposit Deliveries Section 10.1 Sterling Introduction Terminated Facility Section 12 All other terms defined elsewhere herein shall have the meanings set forth in this Agreement.