Mandatory Removal Sample Clauses
Mandatory Removal. Pathologists shall immediately remove any Approved Physician from furnishing Services under this Agreement who:
(i) has his or her state license to practice medicine or board certification denied, suspended, restricted, terminated, revoked or relinquished for any reason, whether voluntarily or involuntarily, temporarily or permanently, regardless of the availability of civil or administrative hearing rights or judicial review with respect thereto;
(ii) is debarred, suspended, excluded or otherwise ineligible to participate in any Federal Health Care Program; or
(iii) fails to be covered by the professional liability insurance required to be maintained under this Agreement.
Mandatory Removal. An Unencumbered Pool Property shall be removed as an Unencumbered Pool Property and therefore, among other things, cease to be included in determinations of the Unencumbered Pool Value (i) if such Property ceases to be an Eligible Property or if the Administrative Agent shall cease to have a perfected Lien in the Capital Stock of the Property Owner of such Unencumbered Pool Property and in the Capital Stock of each Subsidiary of the REIT Guarantor owning directly or indirectly Capital Stock in such Property Owner, in each case, having the priority required by the Guaranty and Security Agreement (with such removal and cessation to occur at the time of the event or circumstance causing such Property to cease to be an Eligible Property or at the time the Administrative Agent shall cease to have any such Lien with such priority, as applicable) or (ii) upon notice to the Borrower if the Required Lenders have determined in their discretion that such Unencumbered Pool Property shall no longer be an Unencumbered Pool Property.
Mandatory Removal. A Borrowing Base Property shall be removed as a Borrowing Base Property and therefore, among other things, cease to be included in determinations of the Borrowing Base Value (i) if such Property ceases to be an Eligible Property or if the Administrative Agent shall cease to have a perfected Lien in the Capital Stock of the Property Owner of such Borrowing Base Property and in the Capital Stock of each Subsidiary of the REIT Guarantor owning directly or indirectly Capital Stock in such Property Owner, in each case, having the priority required by the Guaranty and Security Agreement (with such removal and cessation to occur at the time of the event or circumstance causing such Property to cease to be an Eligible Property or at the time the Administrative Agent shall cease to have any such Lien with such priority, as applicable) or (ii) upon notice to the Borrower if the Required Lenders have determined in their discretion that such Borrowing Base Property shall no longer be a Borrowing Base Property.
Mandatory Removal. 4.5.1 Except for any Existing Mortgage that relates to an Existing Loan Facility, it is understood and agreed that any deed of trust, deed to secure debt and/or mortgage granted by a Seller encumbering the fee or ground lease interest, as applicable, of a Facility, or any portion thereof (each such deed of trust or mortgage, together with any related security agreement or instrument with respect to the indebtedness secured thereby, a “Mortgage”) shall not be deemed a Permitted Exception and shall be paid off, satisfied, discharged and/or otherwise Removed either prior to the Closing or from proceeds of the Purchase Price at the applicable Closing. In addition, Sellers shall cause the Removal of (i) judgments or monetary liens of any kind filed by or on behalf of Sellers (other than Permitted Exceptions); (ii) all standard exceptions relating to the formation, ability, right, power and authority of Sellers to convey the Land and Improvements to Purchaser; (iii) the exception for real estate excise or transfer taxes which may be due as a result of recording a Deed with respect to a Facility located in a jurisdiction in which local custom dictates Seller is obligated to pay such taxes in accordance with Section 5.5.3; and (iv) exceptions affecting the Property that are knowingly and intentionally created by Sellers or any Affiliate of Sellers on or after the Effective Date (matters required to be Removed by Sellers pursuant to the foregoing clauses (i) through (iv), collectively and together with the Initial Title/Survey Objections, the “Mandatory Removal Matters”); provided, that (for the avoidance of doubt) in no event shall any exception solely caused by or solely the result of any act or omission or fault of Purchaser, any Affiliate of Purchaser or any Purchaser Consultant be deemed a Mandatory Removal Matter.
4.5.2 If any Mandatory Removal Matters may be removed by the payment of a sum of money and Sellers have not caused such Mandatory Removal Matter to be Removed as of the Closing Date, Purchaser shall have the right to request that the Title Company utilize a portion of the Purchase Price that would otherwise be payable to Sellers equal to such sum to cause the Removal of said Mandatory Removal Matter.