Vet Group definition
Vet Group means any professional service corporation, professional service limited liability company, or other entity that: (i) is formed for the purpose of practicing veterinary medicine and (ii) enters into a Management Services Agreement (or similar agreement) with a Loan Party whereby such Loan Party provides outsourced managerial, administrative, operational, and other services as are necessary and appropriate for the immediate conduct of the veterinary medical practice.
Examples of Vet Group in a sentence
Consultant agrees that within 60 days after the date of this Agreement the present lease on the automobile leased by the Company for Consultant's use shall be transferred to Consultant or terminated.
Contemporaneously with the formation or acquisition of any new Subsidiary or Vet Group, the Loan Parties shall cause such new Subsidiary or Vet Group to either, at Lender’s option, (a) execute and deliver a guaranty in form and substance reasonably acceptable to Lender or (b) execute and deliver a joinder to this Loan Agreement in which it becomes a borrower hereunder, unless Lender, in its reasonable discretion, agrees otherwise.