Deficits. If for any reason any deposit held by the Lessor under this Section 4.6 shall not be sufficient to pay an Imposition or insurance premium within the time specified therefor in this Lease, then, within ten (10) days after demand by the Lessor, the Lessee shall deposit an additional amount with the Lessor, increasing the deposit held by the Lessor so that the Lessor holds sufficient funds to pay such Imposition or premium in full (or in installments as otherwise provided for herein), together with any penalty or interest due thereon. The Lessor may change its estimate of any Imposition or insurance premium for any period on the basis of a change in an assessment or tax rate or on the basis of a prior miscalculation or for any other good faith reason; in which event, within ten (10) days after demand by the Lessor, the Lessee shall deposit with the Lessor the amount in excess of the sums previously deposited with the Lessor for the applicable period which would theretofore have been payable under the revised estimate.
Appears in 8 contracts
Samples: Facility Lease Agreement (Carematrix Corp), Development Agreement (Standish Care Co), Management Agreement (Capital Senior Living Corp)
Deficits. If for any reason any deposit held by the Lessor under this Section 4.6 shall not be sufficient to pay an Imposition or insurance premium within the time specified therefor in this Lease, then, within ten (10) days after demand by the Lessor, the Lessee shall deposit an additional amount with the Lessor, increasing the deposit held by the Lessor so that the Lessor holds sufficient funds to pay such Imposition or premium in full (or in installments as otherwise provided for herein), together with any penalty or interest due thereon. The Lessor may change its estimate of any Imposition or insurance premium for any period on the basis of a change in an assessment or tax rate or on the basis of a prior miscalculation or for any other good faith reasonmiscalculation; in which event, within ten (10) days after demand by the Lessor, the Lessee shall deposit with the Lessor the amount in excess of the sums previously deposited with the Lessor for the applicable period which would theretofore have been payable under the revised estimate.
Appears in 3 contracts
Samples: Facility Lease Agreement (Alternative Living Services Inc), Facility Lease Agreement (Alterra Healthcare Corp), Facility Lease Agreement (Alternative Living Services Inc)
