Common use of CONVEYANCE TO LESSEE Clause in Contracts

CONVEYANCE TO LESSEE. If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property. Upon completion of the purchase of the Leased Property, no Rent shall thereafter accrue with respect thereto.

Appears in 2 contracts

Samples: Lease Agreement (Emeritus Corp\wa\), Facility Lease Agreement (Emeritus Corp\wa\)

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CONVEYANCE TO LESSEE. If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 25.4 below) and this Lease shall thereupon terminate as to the Leased Property. Upon completion of the purchase of the Leased Property, no Rent shall thereafter accrue with respect thereto.

Appears in 1 contract

Samples: Facility Lease Agreement (Balanced Care Corp)

CONVEYANCE TO LESSEE. If the Lessor shall have determined that the Proposed Facility constitutes Constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property. Upon completion of the purchase of the Leased Property, no Rent shall thereafter accrue with respect thereto.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

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CONVEYANCE TO LESSEE. If the Lessor shall have determined that the Proposed Facility constitutes a Comparable Facility, on the Substitution Date, after the consummation of a substitution in accordance with the terms hereof, Lessor will convey the Leased Property to Lessee in accordance with the provisions of Article 18 I 8 (except as to payment of any expenses in connection therewith which shall be governed by Section 22.4 below) and this Lease shall thereupon terminate as to the Leased Property. Upon completion of the purchase of the Leased Property, no Rent shall thereafter accrue with respect thereto.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

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