Common use of Adverse Developments Clause in Contracts

Adverse Developments. Promptly but in no event more than ten (10) days after Lessee acquires knowledge thereof, written notice of: (i) the potential termination of any Permit or Provider Agreement necessary for the operation of the Leased Property; (ii) any loss, damage or destruction to or of the Leased Property in excess of TWENTY-FIVE THOUSAND DOLLARS ($25,000) (regardless of whether the same is covered by insurance); (iii) any material controversy involving Lessee or any Sublessee which is an Affiliate of Lessee and (x) Facility administrator or Facility employee of similar stature or (y) any labor organization or (z) the Manager or any employee of the Manager which has, or is reasonably likely to have, a materially adverse effect on the financial condition and/or operations of the Facility; (iv) any controversy that calls into question the eligibility of the Facility for the participation in any Medicaid, Medicare or other Third Party Payor Program in which the Facility is participating; (v) any refusal of reimbursement by any Third Party Payor which, singularly or together with all other such refusals by any Third Party Payors, could reasonably be expected to have a material adverse effect on the financial condition of Lessee or any Sublessee which is an Affiliate of Lessee; and (vi) any fact within the special knowledge of any member of the Leasing Group, or any other development in the business or affairs of any member of the Leasing Group, which could reasonably be expected to be materially adverse to the business, properties, assets or condition, financial or otherwise, of any member of the Leasing Group or the Leased Property.

Adverse Developments. Promptly but in no event more than ten (10) days after Lessee acquires knowledge thereof, written notice of: of (i) the potential termination of any Permit or Provider Agreement necessary for the operation of the Leased Property; ; (ii) any loss, damage or destruction to or of the Leased Property in excess of TWENTY-TWENTY- FIVE THOUSAND DOLLARS ($25,000) (regardless of whether the same is covered by insurance); ; (iii) any material controversy involving Lessee or any Sublessee which is an Affiliate of Lessee and (x) Facility administrator or Facility employee of similar stature or (y) any labor organization or (z) the Manager or any employee of the Manager which has, or is reasonably likely to have, a materially adverse effect on the financial condition and/or operations of the Facility; ; (iv) any controversy that calls into question the eligibility of the Facility for the participation in any Medicaid, Medicare or other Third Party Payor Program in which the Facility is participating; ; (v) any refusal of reimbursement by any Third Party Payor which, singularly or together with all other such refusals by any Third Party Payors, could reasonably be expected to have a material adverse effect on the financial condition of Lessee or any Sublessee which is an Affiliate of Lessee; and and (vi) any fact within the special knowledge of any member of the Leasing Group, or any other development in the business or affairs of any member of the Leasing Group, which could 65 reasonably be expected to be materially adverse to the business, properties, assets or condition, financial or otherwise, of any member of the Leasing Group or the Leased Property.

Adverse Developments. Promptly but in no event more than ten (10) days after Lessee acquires knowledge thereof, written notice of: (i) the potential termination of any Permit or Provider Agreement necessary for the operation of the Leased Property; (ii) any loss, damage or destruction to or of the Leased Property in excess of TWENTY-FIVE THOUSAND DOLLARS ($25,000) (regardless of whether the same is covered by insurance); (iii) any material controversy involving Lessee or any Sublessee which is an Affiliate of Lessee and (x) Facility administrator or Facility employee of similar stature or (y) any labor organization or (z) the Manager or any employee of the Manager which has, or is reasonably likely to have, a materially adverse effect on the financial condition and/or operations of the Facility; (iv) any controversy that calls into question the eligibility of the Facility for the participation in any Medicaid, Medicare or other Third Party Payor Program in which the Facility is participating; (v) any refusal of reimbursement by any Third Party Payor which, singularly or together with all other such refusals by any Third Party Payors, could reasonably be expected to have a material adverse effect on the 53 financial condition of Lessee or any Sublessee which is an Affiliate of Lessee; and (vi) any fact within the special knowledge of any member of the Leasing Group, or any other development in the business or affairs of any member of the Leasing Group, which could reasonably be expected to be materially adverse to the business, properties, assets or condition, financial or otherwise, of any member of the Leasing Group or the Leased Property.

Adverse Developments. Promptly but in no event more than thari:ten (10) days after Lessee acquires knowledge thereof, written notice of: : (i) the potential termination of any ofany Permit or Provider Agreement necessary for the operation of the Leased Property; ; (ii) any loss, damage or destruction to or of the ofthe Leased Property in excess etcess of TWENTY-FIVE THOUSAND DOLLARS ($25,000) (regardless of whether whether. the same is covered by insurance); ; (iii) any material controversy involving Lessee or any Sublessee which is an Affiliate of Lessee and (xt) Facility administrator or Facility employee of similar stature or (y) any labor organization or (z) the Manager or any employee of the ofthe Manager which has, or is reasonably likely to have, a materially adverse effect on the financial condition and/or operations of the ofthe Facility; ; (iv) any controversy that calls into question the eligibility of the ofthe Facility for the participation in any Medicaid, Medicare or other Third Party Payor Program in which the Facility is participating; ; (v) any refusal of reimbursement by any Third Party Payor which, singularly or together with all other such refusals by any Third Party Payors, could reasonably be expected e:cpected to have a material adverse effect on the financial condition of Lessee or any Sublessee which is an Affiliate of Lessee; and and (vi) any fact within the special knowledge of any member of the Leasing Group, or any other development in the business or affairs of any ofany member of the ofthe Leasing Group, which could reasonably be expected eYpected to be materially adverse to the business, properties, assets or condition, financial or otherwise, of any member of the Leasing Group or the Leased Property.. 56

Adverse Developments. Promptly but in no event more than ten (10) days after Lessee Xxxxxx acquires knowledge thereof, written notice of: (i) the potential termination of any Permit or Provider Agreement necessary for the operation of the Leased Property; (ii) any loss, damage or destruction to or of the Leased Property in excess of TWENTY-FIVE THOUSAND DOLLARS ($25,000) (regardless of whether the same is covered by insurance); (iii) any material controversy involving Lessee or any Sublessee which is an Affiliate of Lessee and (x) Facility administrator or Facility employee of similar stature or (y) any labor organization or (z) the Manager or any employee of the Manager which has, or is reasonably likely to have, a materially adverse effect on the financial condition and/or operations of the Facility; (iv) any controversy that calls into question the eligibility of the Facility for the participation in any Medicaid, Medicare or other Third Party Payor Program in which the Facility is participating; (v) any refusal of reimbursement by any Third Party Payor which, singularly or together with all other such refusals by any Third Party Payors, could reasonably be expected to have a material adverse effect on the financial condition of Lessee or any Sublessee which is an Affiliate of Lessee; and (vi) any fact within the special knowledge of any member of the Leasing Group, or any other development in the business or affairs of any member of the Leasing Group, which could reasonably be expected to be materially adverse to the business, properties, assets or condition, financial or otherwise, of any member of the Leasing Group or the Leased Property.