Common use of COOPERATION RE Clause in Contracts

COOPERATION RE. ASSETS In the case that at any time after the Distribution Date, Healthcare reasonably determines that any of the LTC Retained Assets are essential for the conduct of the Healthcare Business, or LTC reasonably determines that any of the Healthcare Assets are essential for the conduct of the LTC Retained Business, and the nature of such assets makes it impracticable for Healthcare or LTC, as the case may be, to obtain substitute assets or to make alternative arrangements on commercially reasonable terms to conduct their respective businesses, and reasonable provisions for the use thereof are not already included in the Related Agreements, then Healthcare (with respect to the Healthcare Assets) and LTC (with respect to the LTC Retained Assets) shall cooperate to make such assets available to the appropriate party on commercially reasonable terms, as may be reasonably required for such party to maintain normal business operations (provided that such assets shall be required to be made available only until such time as the other party may reasonably obtain substitute assets or make alternative arrangements on commercially reasonable terms to permit it to maintain normal business operations).

Appears in 6 contracts

Samples: Distribution Agreement (LTC Properties Inc), Distribution Agreement (LTC Healthcare Inc), Distribution Agreement (LTC Properties Inc)

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