REPLACEMENT HOSPITAL Sample Clauses

REPLACEMENT HOSPITAL. With twelve (12) months of the Closing Date, Lessee shall deliver to Lessor architectural rendering for a Replacement Hospital. At the time the MOB site is identified pursuant to Section 7.11, Lessor and Lessee shall also identify the site for the Replacement Hospital. Immediately upon the Hospital achieving revenues Net Patient Revenues of $18,000,000 on an annualized basis (such amount to be adjusted annually on January 1st based on changes in the Consumer Price Index during the preceding year) (the "Target Net Revenues"), Lessee shall use its reasonable best efforts, seek necessary approvals for, construct and equip the Replacement Hospital. The term "Net Patient Revenues" means gross revenues derived from the provision of patient services less contractual adjustments and policy discounts. The term "Replacement Hospital" means an acute care hospital, including the property on which it is situated, and those subordinate and related facilities, furnishings, fixtures and equipment having a cost currently estimated to be approximately Twenty Million Dollars ($20,000,000) that Lessee deems adequate to meet the health care needs of the Eunice, Louisiana community. Lessee shall assist Lessor in acquiring land needed for the project, arranging design of the facility by competent professional architects, seeking necessary approvals, and engaging a contractor to accomplish the construction and the purchasing of necessary equipment. Lessor shall hold title to any land acquired and, upon acquisition of such land, Lessee and Lessor shall enter into a ground lease for such land providing for a) a term of at least fifty (50) years, b) prepayment of rent in an amount equal to the costs to Lessor of acquiring the land, c) a right of first refusal in favor of Lessee in the event Lessor elected to transfer its interest in the land, d) a right of first refusal in favor of Lessor in the event Lessee elected to transfer its leasehold interest in the land and/or its interest in the Replacement to any person not an affiliate of Lessee, e) payment by Lessor to Lessee at the end of the term of the ground lease of an amount equal to the unamortized value of any improvements to the land or the Replacement Hospital in the ten (10) years immediately preceding the end of the term of the ground lease, f) an option in favor of the Lessor to purchase from Lessee at fair market value any personal property assets used in the operation of the Replacement Hospital, and (g) such other terms ...
Sample 1
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REPLACEMENT HOSPITAL. Subject to required regulatory approvals, Buyer and/or Province shall construct a replacement hospital (the "Replacement Hospital") pursuant to plans, specifications and a budget mutually agreeable to Buyer and Seller in accordance with the terms and conditions set forth on Schedule 9.3 hereto.
Sample 1
REPLACEMENT HOSPITAL. The Improvements to be constructed on the Xxxx Xxxxxx Parkway Property in accordance with the Plans and Specifications.
Sample 1
REPLACEMENT HOSPITAL. Purchaser agrees to use commercially reasonable efforts (i) to obtain the necessary financing through the United States Department of Agriculture (“USDA”) – Rural Development loan program (or through such other source(s) of funding that offer terms and conditions that are no less favorable than those which would otherwise be offered by USDA-Rural Development) to fully fund on terms acceptable to Purchaser (the “USDA Funding”) construction of a replacement facility located in Bladen County, North Carolina which shall be licensed, certified and operated as a 25 bed hospital (the “Replacement Hospital”); (ii) if USDA Funding is obtained, to file a Certificate of Need application with the North Carolina Department of Health and Human Services seeking approval to construct the Replacement Hospital and relocate the Hospital’s operations to such newly constructed facility (“CON Approval”); and (iii) if USDA Funding and CON Approval is obtained, and, upon receipt of all required or appropriate permits and approvals, to construct the Replacement Hospital; provided however that in the event that Purchaser is unable to obtain the USDA Funding, CON Approval, or any other required or appropriate permits and approvals within four (4) years following the Closing Date, despite Purchaser’s commercially reasonable efforts to do so, the obligations set forth in this Section 10(a) shall terminate.
Sample 1

Related to REPLACEMENT HOSPITAL

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  • Property Management Borrower will provide for professional management of the Mortgaged Property by the Property Manager at all times under a property management agreement approved by Lender in writing. Borrower will not surrender, terminate, cancel, modify, renew or extend its property management agreement, or enter into any other agreement relating to the management or operation of the Mortgaged Property with Property Manager or any other Person, or consent to the assignment by the Property Manager of its interest under such property management agreement, in each case without the consent of Lender, which consent will not be unreasonably withheld.

  • DTC DIRECT REGISTRATION SYSTEM AND PROFILE MODIFICATION SYSTEM (a) Notwithstanding the provisions of Section 2.4 of the Deposit Agreement, the parties acknowledge that DTC’s Direct Registration System (“DRS”) and Profile Modification System (“Profile”) apply to the American Depositary Shares upon acceptance thereof to DRS by DTC. DRS is the system administered by DTC that facilitates interchange between registered holding of uncertificated securities and holding of security entitlements in those securities through DTC and a DTC participant. Profile is a required feature of DRS that allows a DTC participant, claiming to act on behalf of an Owner of American Depositary Shares, to direct the Depositary to register a transfer of those American Depositary Shares to DTC or its nominee and to deliver those American Depositary Shares to the DTC account of that DTC participant without receipt by the Depositary of prior authorization from the Owner to register that transfer.

  • Security System The site and the Work area may be protected by limited access security systems. An initial access code number will be issued to the Contractor by the County. Thereafter, all costs for changing the access code due to changes in personnel or required substitution of contracts shall be paid by the Contractor and may be deducted from payments due or to become due to the Contractor. Furthermore, any alarms originating from the Contractor’s operations shall also be paid by the Contractor and may be deducted from payments due or to become due to the Contractor.

  • Continued Healthcare If Executive elects to receive continued healthcare coverage pursuant to the provisions of COBRA, the Company shall directly pay, or reimburse Executive for, the premium for Executive and Executive’s covered dependents through the earlier of (i) the first anniversary of the date of Executive’s termination of employment and (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s). Notwithstanding the foregoing, (i) if any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Code under Treasury Regulation Section 1.409A-1(a)(5), or (ii) the Company is otherwise unable to continue to cover Executive under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public Health Service Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive in substantially equal monthly installments. After the Company ceases to pay premiums pursuant to this Section 4(c), Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Cornerstone shall notify the LLC and confirm such advice in writing (i) when the filing of any post-effective amendment to the Registration Statement or supplement to the Prospectus is required, when the same is filed and, in the case of the Registration Statement and any post-effective amendment, when the same becomes effective, (ii) of any request by the Securities and Exchange Commission for any amendment of or supplement to the Registration Statement or the Prospectus or for additional information and (iii) of the entry of any stop order suspending the effectiveness of the Registration Statement or the initiation or threatening of any proceedings for that purpose, and, if such stop order shall be entered, Cornerstone shall use its best efforts promptly to obtain the lifting thereof.

  • Asset Management Supplier will: i) maintain an asset inventory of all media and equipment where Accenture Data is stored. Access to such media and equipment will be restricted to authorized Personnel; ii) classify Accenture Data so that it is properly identified and access to it is appropriately restricted; iii) maintain an acceptable use policy with restrictions on printing Accenture Data and procedures for appropriately disposing of printed materials that contain Accenture Data when such data is no longer needed under the Agreement; iv) maintain an appropriate approval process whereby Supplier’s approval is required prior to its Personnel storing Accenture Data on portable devices, remotely accessing Accenture Data, or processing such data outside of Supplier facilities. If remote access is approved, Personnel will use multi-factor authentication, which may include the use of smart cards with certificates, One Time Password (OTP) tokens, and biometrics.

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