Common use of Distributions, Payments to Affiliates, Etc Clause in Contracts

Distributions, Payments to Affiliates, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default with respect to the payment of Rent shall have occurred and be continuing; provided, however, that Tenant may resume making such Distributions if (i) Landlord shall not commence, within ninety (90) days after Notice by Landlord to Tenant of the occurrence of any such Event of Default, to enforce its rights and remedies arising on account of such Event of Default with respect to the payment of Rent, and diligently pursue enforcement of such rights and remedies thereafter, and (ii) no other Event of Default (i.e., an Event of Default arising from a cause other than the non-payment of Rent) has occurred as to which Landlord has commenced enforcing and is continuously and diligently pursuing the enforcement of its rights and remedies arising on account of any such Event of Default.

Appears in 16 contracts

Samples: Lease Agreement (CNL Retirement Properties Inc), Lease Agreement (CNL Retirement Properties Inc), Lease Agreement (CNL Retirement Properties Inc)

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Distributions, Payments to Affiliates, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions of funds from Total Facility Revenues if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default with respect to the payment of Rent shall have occurred and be continuing; provided, however, that Tenant may resume making such Distributions if (i) Landlord shall not commence, within ninety (90) days after Notice by Landlord to Tenant of the occurrence of any such Event of Default, to enforce its rights and remedies arising on account of such Event of Default with respect to the payment of Rent, and diligently pursue enforcement of such rights and remedies thereafter, and (ii) no other Event of Default (i.e., an Event of Default arising from a cause other than the non-payment of Rent) has occurred as to which Landlord has commenced enforcing and is continuously and diligently pursuing the enforcement of its rights and remedies arising on account of any such Event of Default.

Appears in 2 contracts

Samples: Lease Agreement (CNL Retirement Properties Inc), CNL Retirement Properties Inc

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Distributions, Payments to Affiliates, Etc. Tenant shall not declare, order, pay or make, directly or indirectly, any Distributions if, at the time of such proposed action, or immediately after giving effect thereto, any Event of Default with respect to the payment of Rent shall have occurred and be continuing; provided, however, that Tenant may resume making such Distributions if (i) Landlord shall not commence, within ninety (90) days after Notice by Landlord to Tenant of the occurrence of any such Event of Default, to enforce its rights and remedies arising on account of such Event of Default with respect to the payment of Rent, and diligently pursue enforcement of such rights and remedies thereafter, and (ii) no other Event of Default (i.e., an Event of Default arising from a cause other than the non-payment of Rent) has occurred as to which Landlord has commenced enforcing and is continuously and diligently pursuing the enforcement of its rights and remedies arising on account of any such Event of Default.. Section 20.4

Appears in 1 contract

Samples: Lease Agreement (CNL Retirement Properties Inc)

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