Management Consultant. The Center is required to engage a Management Consultant if either (i) the Debt Ratio on any Measurement Date is less than 1.0:1.0 or (ii) the Debt Ratio on the Measurement Date that is the last day of the fiscal year of the Center is less than 1.2:1.0 and the Adjusted Operating Loss is greater than $50,000,000. The Adjusted Operating Loss, by which operating losses are adjusted by contributions and an assumed return on investments, is only required to be calculated if the most recently available audited financial statements of the Center and its Affiliates show a decrease in Unrestricted Net Assets of $50,000,000 or more or the Debt Ratio on the Measurement Date that is the last day of the fiscal year of the Center is less than 1.2:1.0. [On a pro forma basis, taking into account the issuance of the Series 2020 DASNY Bonds and the incurrence of other long-term debt, as of December 31, 2019 the Debt Ratio would have exceeded 1.2:1.0.] See “PART 6 – MEMORIAL SLOAN KETTERING CANCER CENTER – Outstanding Indebtedness – Actual Capitalization as of December 31, 2019” and “– MSKCC – Capitalization Ratio Summary” herein, for information regarding outstanding indebtedness and capitalization of MSKCC.
Management Consultant. Not later than June 30, 2002, Borrowers shall have retained a management consultant with a term extending at least until the Commitment Termination Date to assist with, among other things, vendor, customer and employee relations, which management consultant, the scope of its duties and terms and conditions of its retention shall be satisfactory to Borrowers, DIP Agent and Requisite Lenders.
Management Consultant. 104 Section 9.1.15. Ghana Opinion.......................................104 Section 9.1.16.
Management Consultant. At the request of the Required Lenders, Agent or its counsel may hire a management consultant, and the Parent Guarantor and the Company jointly and severally agree to pay the reasonable fees and out-of-pocket expenses of such consultant, which fees and expenses shall be part of the Obligations and secured by the Collateral.
Management Consultant. If a Cash Management Event shall exist, each Borrower shall, at the request of Lender, hire a property management firm designated by Lender to thereafter serve as a property management consultant (the "Management Consultant") for each such Borrower and its Collateral Property. Any Borrower's failure to retain such property management firm within thirty (30) days after Lender designates such firm shall constitute an immediate Event of Default. Each Borrower shall continue to retain its Management Consultant until a Cash Management Termination occurs. The Management Consultant at each Collateral Property shall oversee and approve and fully participate in all actions and decisions of the Manager at such Collateral Property, including the incurring of any expenses, the retention of any broker, the negotiation and execution of any leases or lease "term sheets", decisions as to tenants and "tenant mix" and repairs, alterations and improvements. Each Borrower shall cause its Manager to cooperate with the applicable Management Consultant to enable the Management Consultant to perform its responsibilities as described above and in the applicable agreement between such Borrower and its Management Consultant. All fees payable to the Management Consultant shall be an Approved Operating Expense.
Management Consultant. The Borrower shall, on or before July 31, 2009, hire a management consultant mutually acceptable to the Agent and the Borrower to advise the Borrower on such matters regarding the company’s financial performance as the Agent shall request, including an assessment of the Borrower’s business plan, cost structure and liquidity.”
(f) Section 7(c) of the Credit Agreement is hereby amended in its entirety as follows:
Management Consultant. By March 31, 1995, the Company shall retain a management consulting firm to fully review and analyze the Company's management structure. The members of the Task Force shall be entitled to meet regularly with this firm following its retention and to review its results prior to implementation.
Management Consultant. On or before November 30, 2007, the Borrowers will employ the services of an outside management consultant to review and report in writing on a turnaround plan. A copy of the written report will be promptly delivered to the Lender. Such outside management consultant shall be selected by the Borrowers but shall be reasonably acceptable to the Lender and shall be continually employed by the Borrowers until the Lender and the Borrowers mutually agree that the services of a management consultant are no longer needed.
Management Consultant. The Parent and the Borrower shall engage a management consultant acceptable to the Required Lenders on terms and conditions acceptable to the Required Lenders on or before September 30, 2000.
Management Consultant. At any time prior to the appointment of and commencement of duties by the New CEO, the Borrower shall fail, for a period of more than ten (10) consecutive Business Days, to keep currently retained a management consultant (reporting to the Board of Directors) reasonably satisfactory to the Administrative Agent; or
