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.

Appears in 4 contracts

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

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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.

Appears in 2 contracts

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

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