Common use of Payment to Resident on Termination Following Damage or Destruction Clause in Contracts

Payment to Resident on Termination Following Damage or Destruction. (a) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(v), the Resident shall be entitled to the payment of the Capital Sum paid by the Resident without any deduction of the Retention Fee but subject to deduction of the Administration Fee and any amount outstanding under this Occupation Right Agreement, and such payment shall be made no later than 10 Working Days after the date the Operator or the Statutory Supervisor receives payment in full under any insurance policy covering the Unit. However if the amount that the Resident would have received if clause 6.3(b) had applied was a greater amount, then the Resident shall be entitled to payment of such greater amount. (b) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(vi), then this Occupation Right Agreement is terminated by the Resident and the Operator shall proceed to offer a new Occupation Right Agreement to a new resident for the unit offered to the Resident (for transfer), and clauses 17 and 18 of this Occupation Right Agreement shall apply with respect to such unit to determine the Resident’s Capital Repayment Entitlement.

Payment to Resident on Termination Following Damage or Destruction. (a) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(v16.8 (b)(v), the Resident shall be entitled to the payment of the Capital Purchase Sum paid by the Resident in relation to the Unit without any deduction of the Retention Deferred Management Fee but subject to deduction of the Sales and Administration Fee fee and any amount outstanding under this Occupation Right Agreement, and such payment shall be made no later than within 10 Working Days after the date working days of the Operator or the Statutory Supervisor receives receiving payment in full under any insurance policy covering the Unit. However However, if the amount that the Resident would have received if clause 6.3(b) had been applied was a greater amountis greater, then than the Resident shall be entitled to payment of such greater amount. (b) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(vi), then this Occupation Right Agreement is terminated by the Resident and the Operator shall proceed to offer a new Occupation Right Agreement to a new resident for the unit offered to the Resident (for transfer), and clauses 17 and 18 of this Occupation Right Agreement shall apply with respect to such a unit to determine the Resident’s Capital Repayment Entitlement.

Payment to Resident on Termination Following Damage or Destruction. (a) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(v), the Resident shall be entitled to the payment of the Capital Sum paid by the Resident without any deduction of the Retention Fee but subject to deduction of the Administration Fee and any amount outstanding under this Occupation Right Agreement, and such payment shall be made no later than 10 Working Days after the date the Operator or the Statutory Supervisor receives payment in full under any insurance policy covering the Unit. However if the amount that the Resident would have received if clause 6.3(b) had applied was a greater amount, then the Resident shall be entitled to payment of such greater amount. (b) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(vi), then this Occupation Right Agreement is terminated by the Resident and the Operator shall proceed to offer a new Occupation Right Agreement to a new resident for the unit offered to the Resident (for transfer), and clauses 17 and 18 0 of this Occupation Right Agreement shall apply with respect to such unit to determine the Resident’s Capital Repayment Entitlement.

Payment to Resident on Termination Following Damage or Destruction. (a) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(v16.8 (b) (v), the Resident shall be entitled to the payment of the Capital Sum paid by the Resident in relation to the Unit without any deduction of the Retention Fee Capital Deduction but subject to deduction of the Sales and Administration Fee fee and any amount outstanding under this Occupation Right Agreement, and such payment shall be made no later than within 10 Working Days after the date working days of the Operator or the Statutory Supervisor receives receiving payment in full under any insurance policy covering the Unit. However However, if the amount that the Resident would have received if clause 6.3(b6.3 (b) had been applied was a greater amountis greater, then than the Resident shall be entitled to payment of such greater amount. (b) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(vi16.8 (b) (vi), then this Occupation Right Agreement is terminated by the Resident and the Operator shall proceed to offer a new Occupation Right Agreement to a new resident for the unit offered to the Resident (for transfer), and clauses 17 and 18 of this Occupation Right Agreement shall apply with respect to such a unit to determine the Resident’s Capital Repayment Entitlement.

Payment to Resident on Termination Following Damage or Destruction. (a) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(v16.8 (b) (v), the Resident shall be entitled to the payment of the Capital Purchase Sum paid by the Resident in relation to the Unit without any deduction of the Retention Deferred Management Fee but subject to deduction of the Sales and Administration Fee fee and any amount outstanding under this Occupation Right Agreement, and such payment shall be made no later than within 10 Working Days after the date working days of the Operator or the Statutory Supervisor receives receiving payment in full under any insurance policy covering the Unit. However However, if the amount that the Resident would have received if clause 6.3(b6.3 (b) had been applied was a greater amountis greater, then than the Resident shall be entitled to payment of such greater amount. (b) In the event that this Occupation Right Agreement is terminated in accordance with clause 16.8(b)(vi16.8 (b) (vi), then this Occupation Right Agreement is terminated by the Resident and the Operator shall proceed to offer a new Occupation Right Agreement to a new resident for the unit offered to the Resident (for transfer), and clauses 17 and 18 of this Occupation Right Agreement shall apply with respect to such a unit to determine the Resident’s Capital Repayment Entitlement.