Closure of Leesburg Facility Sample Clauses

Closure of Leesburg Facility. In the event that the Commencement Date of the New Lease and the transfer of operation of the Leesburg Facility to the New Operator does not occur on or before January 31, 2002, then Omega, OHI, DLC and Advocat agree that DLC shall have a period of ninety (90) days after such date to attempt to sell the Leesburg Facility as an operating nursing home. DLC shall promptly commence and actively pursue marketing the Leesburg Facility during said ninety (90) day period. The parties will cooperate with each other in good faith and use commercially reasonable efforts in attempting to sell the Leesburg Facility as an operating nursing home. If DLC is unable to accomplish such sale with in said ninety (90) day period, then Omega, OHI, Advocat and DLC agree that the Florida Lease shall be terminated, the Leesburg Facility shall be closed, and the real estate and other assets comprising the Leesburg Facility sold as soon as reasonably practical thereafter. Advocat and DLC shall be responsible for the cost and expense of the closing of the Leesburg Facility. The proceeds of the sale of the Leesburg Facility as an operating nursing home or the sale of the real estate and other assets comprising the Leesburg Facility after its closure shall be shared in accordance with that certain Revenue Sharing Agreement between Omega, OHI, Advocat and DLC made and executed concurrently herewith.
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Closure of Leesburg Facility. In the event that the Commencement Date of the New Lease and the transfer of operation of the Leesburg Facility to the New Operator does not occur on or before January 31, 2002, then Omega, OHI, DLC and Advocat agree that DLC shall have a period of ninety (90) days after such date to attempt to sell the Leesburg Facility as an operating nursing home. DLC shall promptly commence and actively pursue marketing the Leesburg Facility during said ninety (90) day period. The parties will cooperate with each other in good faith and use commercially reasonable efforts in attempting to sell the Leesburg Facility as an operating nursing home. If DLC is unable to accomplish such sale with in said ninety (90) day period, then Omega, OHI, Advocat and DLC agree that the Florida Lease shall be terminated, the Leesburg Facility shall 11 <PAGE> be closed, and the real estate and other assets comprising the Leesburg Facility sold as soon as reasonably practical thereafter. Advocat and DLC shall be responsible for the cost and expense of the closing of the Leesburg Facility. The proceeds of the sale of the Leesburg Facility as an operating nursing home or the sale of the real estate and other assets comprising the Leesburg Facility after its closure shall be shared in accordance with that certain Revenue Sharing Agreement between Omega, OHI, Advocat and DLC made and executed concurrently herewith. 2.7 Facilities Conveyed in As-Is Condition. By deed made and delivered concurrently herewith, CNP has conveyed the real property and improvements comprising the Xxxxxx Facility to Sterling and has conveyed the real property and improvements comprising each of the DeSoto Facility and the Leesburg Facility to OHI. CNP makes no representations or warranties of any kind, express, implied, statutory or otherwise, with respect to the condition of the real property and improvements comprising each of the Xxxxxx Facility, the DeSoto Facility and the Leesburg Facility, including without limitation any warranty of habitability, suitability or fitness for any particular use or purpose or the environmental condition of the property. OHI and Sterling each agree that the real property and improvements comprising each of the Xxxxxx Facility, the DeSoto Facility and the Leesburg Facility are being conveyed by CNP, and Sterling accepts the Xxxxxx Facility, and OHI accepts the DeSoto Facility and the Leesburg Facility, in "as is" and "where is" condition. The provisions of this Section 2.7 shall surv...
Sample 1

Related to Closure of Leesburg Facility

  • Banking Facilities CLAUSE 2.29 of the Disclosure Schedule sets forth ------------------ a true, correct and complete list of:

  • Facility Prudential is willing to consider, in its sole discretion and within limits which may be authorized for purchase by Prudential Affiliates from time to time, the purchase of Shelf Notes pursuant to this Agreement. The willingness of Prudential to consider such purchase of Shelf Notes is herein called the “Facility”. At any time, the aggregate principal amount of Shelf Notes stated in Section 1.2, minus the aggregate principal amount of Shelf Notes purchased and sold pursuant to this Agreement prior to such time, minus the aggregate principal amount of Accepted Notes (as hereinafter defined) which have not yet been purchased and sold hereunder prior to such time, is herein called the “Available Facility Amount” at such time. NOTWITHSTANDING THE WILLINGNESS OF PRUDENTIAL TO CONSIDER PURCHASES OF SHELF NOTES BY PRUDENTIAL AFFILIATES, THIS AGREEMENT IS ENTERED INTO ON THE EXPRESS UNDERSTANDING THAT NEITHER PRUDENTIAL NOR ANY PRUDENTIAL AFFILIATE SHALL BE OBLIGATED TO MAKE OR ACCEPT OFFERS TO PURCHASE SHELF NOTES, OR TO QUOTE RATES, SPREADS OR OTHER TERMS WITH RESPECT TO SPECIFIC PURCHASES OF SHELF NOTES, AND THE FACILITY SHALL IN NO WAY BE CONSTRUED AS A COMMITMENT BY PRUDENTIAL OR ANY PRUDENTIAL AFFILIATE.

  • Floor Loading Floor loading capacity shall be within building design capacity. Tenant may exceed floor loading capacity with Landlord’s consent, at Landlord’s sole discretion and must, at Tenant’s sole cost and expense, reinforce the floor as required for such excess loading.

  • Office Facilities During the Employment Period, the Company will furnish Executive, without charge, suitable office facilities for the purpose of performing his duties hereunder, which facilities shall include secretarial, telephone, clerical and support personnel and services and shall be similar to those furnished to employees of the Company having comparable positions.

  • Facilities Keep all properties useful or necessary to Borrower's business in good repair and condition, and from time to time make necessary repairs, renewals and replacements thereto so that such properties shall be fully and efficiently preserved and maintained.

  • Other Facilities This Agreement reserves in each party the power to establish a temporary holding facility during a pandemic, riot, civil disobedience or natural disaster, to establish group homes or other care or rehabilitation facilities in furtherance of a social service program, to temporarily transfer Inmates to alternative detention facilities in order to respond to Xxxx overcrowding, a public health directive, or to comply with a final order of a federal court or a state court of record for the care and treatment of Inmates.

  • Floor Load Tenant shall not place a load upon any floor of the Premises that exceeds 50 pounds per square foot “live load”. Landlord reserves the right to reasonably designate the position of all Equipment which Tenant wishes to place within the Premises, and to place limitations on the weight thereof.

  • Parking Facilities Alamo Colleges District shall make the existing parking facilities at the rented Facility available for the vehicular traffic and parking necessitated by the Organization’s Use of the rented Facility, on a non-exclusive basis, as specified at Exhibit A. MAXIMUM CAPACITY. Organization anticipates approximately the number of participants stated at Exhibit A and agrees to inform Alamo Colleges District of any significant changes five (5) business days in advance of a Use. Organization shall not admit a larger number of persons than can safely and freely move about the Facility. Alamo Colleges District shall notify Organization of the recommended capacity of the Facility and all decisions of Alamo Colleges District concerning questions arising under this Paragraph shall be final.

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