Common use of Adjustment to Rent; Forbearance Clause in Contracts

Adjustment to Rent; Forbearance. (i) Upon the termination of the Master Lease with respect to any Leased Facility set forth on Section 5.2(a)(i) of the Debtor Disclosure Letter in connection with the releasing or sale of any Leased Facility by Parent or its Subsidiaries to any third-party purchasers, replacement tenants or other partners of Parent, there shall be no adjustment to Reduced Cash Rent. Upon the termination of the Master Lease with respect to any Leased Facility other than those set forth on Section 5.2(a)(i) of the Debtor Disclosure Letter in connection with the releasing or sale of any Leased Facility by Parent or its Subsidiaries to any third-party purchasers, replacement tenants or other partners of Parent, the parties to the Master Lease shall amend the Master Lease to reduce Minimum Rent (as defined in the Master Lease) and Reduced Cash Rent in a manner reflecting the net sales proceeds of such disposition.

Appears in 2 contracts

Samples: Plan Sponsor Agreement, Plan Sponsor Agreement (Quality Care Properties, Inc.)

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Adjustment to Rent; Forbearance. (i) Upon the termination of the Master Lease with respect to any Leased Facility set forth on Section 5.2(a)(i) of the Debtor Disclosure Letter in connection with the releasing or sale of any Leased Facility by Parent QCP or its Subsidiaries to any third-party purchasers, replacement tenants or other partners of ParentQCP, there shall be no adjustment to Reduced Cash Rent. Upon the termination of the Master Lease with respect to any Leased Facility other than those set forth on Section 5.2(a)(i) of the Debtor Disclosure Letter in connection with the releasing or sale of any Leased Facility by Parent QCP or its Subsidiaries to any third-party purchasers, replacement tenants or other partners of ParentQCP, the parties to the Master Lease shall amend the Master Lease to reduce Minimum Rent (as defined in the Master Lease) and Reduced Cash Rent in a manner reflecting the net sales proceeds of such disposition.

Appears in 2 contracts

Samples: Plan Sponsor Agreement, Alternative Plan Sponsor Agreement (Quality Care Properties, Inc.)

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