Common use of Disbursement of Capital Addition Allowances Clause in Contracts

Disbursement of Capital Addition Allowances. Provided that no Default or Event of Default hereunder or under the Agreement Regarding Leases has occurred and is continuing, and subject to Tenant's satisfaction of the conditions set forth in this Paragraph 11(d) and, with respect only to any Mandatory Capital Addition to one (1) or more of the Leased Properties, the conditions set forth in Paragraph 5(a) of the Agreement Regarding Leases, Tenant shall have the right upon ten (10) days' prior written notice to Landlord to request from Landlord a disbursement of funds in connection with a Landlord Capital Addition or a Mandatory Capital Addition (each, a "Capital Addition Allowance"). Requests for disbursements under this Paragraph 11(d) shall not be made more often than once during any calendar month and shall be made in increments of not less than Twenty Five Thousand and No/100 Dollars ($25,000.00) and in an aggregate amount not to exceed the approved Capital Additions Cost for such Landlord Capital Addition. (i) Landlord shall, upon written request from Tenant and satisfaction of the requirements set forth in this Paragraph 11(d), disburse a Capital Addition Allowance to Tenant necessary to pay for the actual approved costs of Landlord Capital Additions (or, upon partial completion of such Landlord Capital Additions pursuant to Paragraph 11(d)(vi)). (ii) Each request for a Capital Addition Allowance shall be in a form reasonably specified or approved by Landlord and shall set forth (a) the applicable Leased Property and the specific Landlord Capital Addition for which the Capital Addition Allowance is requested, (b) if the Landlord Capital Addition includes the purchase or replacement of specific items, the quantity and price of each item purchased, (c) the price of all materials (grouped by type or category) used in connection with the Landlord Capital Addition to be paid for with the Capital Addition Allowance, other than the purchase or replacement of specific items, and (d) the cost of all contracted labor or other services applicable to each Landlord Capital Addition for which such request for disbursement is made. (iii) With each request, Tenant shall certify that all Landlord Capital Additions to be paid for with the Capital Addition Allowance will be made in a good and workmanlike manner and in accordance with all applicable Legal Requirements of any Government Agency having jurisdiction over the applicable Facility. (iv) To the extent required by Landlord, each request for a Capital Addition Allowance shall include copies of invoices for all items or materials purchased and all contracted labor or services provided or to be provided as a condition to any requested disbursement, and shall include a waiver of lien (or conditional waiver of lien conditioned only upon payment of all or a portion of the requested Capital Addition Allowance) from each Person receiving payment prior to Landlord's disbursement, and from each contractor, supplier, materialman, mechanic or subcontractor or other Person who receives payment in an amount equal to or greater than $25,000.00 for completion of its work or delivery of its materials. (v) Any lien waiver delivered hereunder shall conform to Legal Requirements and shall cover all work performed and materials supplied (including equipment and fixtures) for the applicable Facility by that contractor, supplier, subcontractor, mechanic or materialman or other Person up to the date covered by the current disbursement request. (vi) Each request for a Capital Addition Allowance shall be made only after completion of the portion of the work with respect to the Landlord Capital Addition for which the Capital Addition Allowance is requested. Tenant shall provide Landlord with such evidence of completion of the portion of the Landlord Capital Addition with respect to which the Capital Addition Allowance is requested, which shall be satisfactory to Landlord in its reasonable judgment. (vii) Upon receipt of the requested Capital Addition Allowance, Tenant shall pay all invoices in connection with the Landlord Capital Addition relating to the applicable Capital Addition Allowance.

Appears in 4 contracts

Samples: Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Brookdale Senior Living Inc.), Property Lease Agreement (Provident Senior Living Trust)

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Disbursement of Capital Addition Allowances. Provided that no Default or Event of Default hereunder or under the Agreement Regarding Leases has occurred and is continuing, and subject to Tenant's satisfaction of the conditions set forth in this Paragraph 11(d) and, with respect only to any Mandatory Capital Addition to one (1) or more of the Leased Propertiesonly, the conditions set forth in Paragraph 5(a) of the Agreement Regarding Leases, Tenant shall have the right upon ten (10) days' prior written notice to Landlord to request from Landlord a disbursement of funds in connection with a Landlord Capital Addition or a Mandatory Capital Addition (each, a "Capital Addition Allowance"). Requests for disbursements under this Paragraph 11(d) shall not be made more often than once during any calendar month and shall be made in increments of not less than Twenty Five Thousand and No/100 Dollars ($25,000.00) and in an aggregate amount not to exceed the approved Capital Additions Cost for such Landlord Capital Addition. (i) Landlord shall, upon written request from Tenant and satisfaction of the requirements set forth in this Paragraph 11(d), disburse a Capital Addition Allowance to Tenant necessary to pay for the actual approved costs of Landlord Capital Additions (or, upon partial completion of such Landlord Capital Additions pursuant to Paragraph 11(d)(vi)). (ii) Each request for a Capital Addition Allowance shall be in a form reasonably specified or approved by Landlord and shall set forth (a) the applicable Leased Property and the specific Landlord Capital Addition for which the Capital Addition Allowance is requested, (b) if the Landlord Capital Addition includes the purchase or replacement of specific items, the quantity and price of each item purchased, (c) the price of all materials (grouped by type or category) used in connection with the Landlord Capital Addition to be paid for with the Capital Addition Allowance, other than the purchase or replacement of specific items, and (d) the cost of all contracted labor or other services applicable to each Landlord Capital Addition for which such request for disbursement is made. (iii) With each request, Tenant shall certify that all Landlord Capital Additions to be paid for with the Capital Addition Allowance will be made in a good and workmanlike manner and in accordance with all applicable Legal Requirements of any Government Agency having jurisdiction over the applicable Facility. (iv) To the extent required by Landlord, each request for a Capital Addition Allowance shall include copies of invoices for all items or materials purchased and all contracted labor or services provided or to be provided as a condition to any requested disbursement, and shall include a waiver of lien (or conditional waiver of lien conditioned only upon payment of all or a portion of the requested Capital Addition Allowance) from each Person receiving payment prior to Landlord's disbursement, and from each contractor, supplier, materialman, mechanic or subcontractor or other Person who receives payment in an amount equal to or greater than $25,000.00 for completion of its work or delivery of its materials. (v) Any lien waiver delivered hereunder shall conform to Legal Requirements and shall cover all work performed and materials supplied (including equipment and fixtures) for the applicable Facility by that contractor, supplier, subcontractor, mechanic or materialman or other Person up to the date covered by the current disbursement request. (vi) Each request for a Capital Addition Allowance shall be made only after completion of the portion of the work with respect to the Landlord Capital Addition for which the Capital Addition Allowance is requested. Tenant shall provide Landlord with such evidence of completion of the portion of the Landlord Capital Addition with respect to which the Capital Addition Allowance is requested, which shall be satisfactory to Landlord in its reasonable judgment. (vii) Upon receipt of the requested Capital Addition Allowance, Tenant shall pay all invoices in connection with the Landlord Capital Addition relating to the applicable Capital Addition Allowance.

Appears in 2 contracts

Samples: Property Lease Agreement (Provident Senior Living Trust), Property Lease Agreement (Brookdale Senior Living Inc.)

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