Compliance With Operating Agreement. The Users will punctually pay the User Payments in strict conformity with the terms hereof, and will faithfully observe and perform all the agreements, conditions, covenants and terms contained herein required to be observed and performed by them. The Authority will faithfully observe and perform all the agreements, conditions, covenants and terms contained herein and in the Trust Agreement required to be observed and performed by it, and it is expressly understood and agreed by and among the parties to this Operating Agreement that each of the agreements, conditions, covenants and terms contained in this Operating Agreement is an essential and material term of the operation of the Project by the Authority.
Compliance With Operating Agreement. The Pledgor shall comply in all material respects with the terms of the Operating Agreement.
Compliance With Operating Agreement. All requirements of SECTION 9.3 of the Operating Agreement shall be complied with by Seller and Purchaser.
Compliance With Operating Agreement. To the knowledge of Tribune, since January 1, 2005, the Company has been operated in compliance with the Operating Agreement in all material respects.
Compliance With Operating Agreement. Tenant shall substantially comply with all material terms and provisions of the Operating Agreement (or any replacement thereof) to be complied with by Tenant, subject to Tenant's right to pursue all available remedies, at law and in equity, with respect to any alleged default by Tenant in the performance of its duties and obligations under the Operating Agreement, or otherwise contest, in good faith and with due diligence, any such alleged default by Tenant; provided, however, that in the event of any casualty or condemnation or other event or circumstances, Tenant shall not be obligated to expend its own funds in excess of such amounts that Tenant would be obligated pursuant to the Lease to expend under such event or circumstances. Unless required by Applicable Laws, Tenant shall not enter into any modifications or amendments of the Operating Agreement, nor, except as otherwise expressly set forth in this Agreement or the Owner Agreement, terminate the same prior to the expiration thereof, without Landlord's prior written consent; nor shall Tenant enter into any replacement of the Operating Agreement without Landlord's prior written consent. To the extent required by this Section 21.6, Landlord's consent shall not be unreasonably withheld or conditioned so long as any such modification, amendment, termination or replacement of the Operating Agreement does not materially and adversely affect the duties and obligations of the parties thereunder. Notwithstanding the foregoing, in the event that the Operating Agreement is terminated by reason of a default by the Operator thereunder, Landlord shall not unreasonably withhold or condition its consent to the selection by Tenant of another Operator with experience in the assisted living facility business and the execution of a new Operating Agreement in form and substance satisfactory to Tenant and such new Operator. To the extent Tenant receives any notices, budgets, reports or other documents or materials from the Operator that the Operator is required to provide to Tenant pursuant to the Operating Agreement, Tenant will promptly forward a copy of the same to Landlord if the Operator has not sent the same to Landlord.
Compliance With Operating Agreement. Notwithstanding anything to the contrary set forth herein or in any Ancillary Agreements, (i) UPLLC shall not, and UP Subs shall cause UPLLC not to, take any of the actions set forth in Section 12 of the Operating Agreement without the prior written consent of E Sub and (ii) each of UP Sub 1, UP Sub 2 and UPLLC shall comply with all provisions set forth in the Operating Agreement.
Compliance With Operating Agreement. ORDC shall deem C&OR’s performance to be satisfactory in this category if C&OR is not in default of any of the provisions of this Agreement. In the event that ORDC’s analysis under this category is done at such time when C&OR is in default of this Agreement, C&OR shall have the full time allotted in Article 21 of this Agreement to correct the default to meet the stipulations of this Article.
Compliance With Operating Agreement. In entering into the transactions contemplated herein, Xxxxxx has complied with the terms and conditions of the LP’s Operating Agreement.
Compliance With Operating Agreement. Buyer hereby acknowledges that the Transferred Interests are conveyed subject to the terms and provisions of the Operating Agreement.
Compliance With Operating Agreement. Neither New Berlin Holdings nor New Berlin Holdings Owners have taken any action on behalf of Franchisee (other than in their capacity as officers of Holdings, if applicable) or breached any provision of the Operating Agreement.
