Resident Deposits and Resident Agreements Sample Clauses

Resident Deposits and Resident Agreements. Borrowers will deposit or cause to be deposited all resident deposits held by Borrowers, Operators or the ASP relating to the Projects, including, without limitation, resident deposits relating to patients or Resident Agreements that are in the form of cash at such commercial or savings bank or banks as may be reasonably satisfactory to Agent. If such resident deposits are in any other form, such resident deposits are to be maintained by Borrower, Operator or the ASP in the Ordinary Course of Business. Borrower shall, upon request, provide Agent with evidence reasonably satisfactory to Agent of Borrower’s, Operator’s or the applicable ASP’s compliance with the foregoing. Following the occurrence and during the continuance of any Event of Default, Borrower shall, or shall cause, upon Agent’s request, if permitted by any applicable Laws, turn over to Agent the resident deposits (and any interest theretofore earned thereon to the extent the same is to be paid to the resident or other party that provided such deposit) with respect to the Projects, to be held by Agent subject to the terms of their related agreements. Without the prior written consent of Agent, Borrowers shall not, and shall not permit the Operators to: (i) modify, in any material respect that is adverse to the Project, the form of Resident Agreement previously approved by Agent, except for any modifications required by Law; (ii) accept any payment under any Resident Agreement more than one month in advance of its due date, except for security or similar deposits; or (iii) enter into any Resident Agreement for a term of more than one (1) year or upon rates less than market rates. No Resident Agreements (i) will deviate in any material respect that is adverse to the Project from the standard form approved by Agent prior to Closing or another form permitted by the preceding sentence, or (ii) conflict with any Laws, except where any such conflict could not reasonably be expected to have a Material Adverse Effect.
Sample 1
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Resident Deposits and Resident Agreements. Borrowers will maintain or cause to be maintained all deposits, including, without limitation, deposits relating to residents or Resident Agreements. If such deposits are in cash, such deposits are to be deposited and held by a Borrower (or the Manager under the Management Agreement), as the case may be, at such commercial or savings bank or banks as may be reasonably satisfactory to Agent; if such deposits are in any other form, such deposits are to be maintained as Agent may expressly permit. Any bond or other instrument which a Borrower (or the Manager under the Management Agreement), as the case may be, is permitted to hold in lieu of cash deposits under any applicable Laws shall be maintained in full force and effect unless replaced by cash deposits as hereinabove described, shall be issued by an institution reasonably satisfactory to Agent, shall, if permitted pursuant to any Laws, name Agent as payee or mortgagee thereunder (or at Agent’s option, be fully assignable to Agent) and shall, in all respects, comply with any applicable Laws and otherwise be reasonably satisfactory to Agent. Borrower shall, upon request, provide Agent with evidence reasonably satisfactory to Agent of Borrower’s compliance with the foregoing. Following the occurrence and during the continuance of any Event of Default, Borrower shall, or shall cause, upon Agent’s request, if permitted by any applicable Laws, turn over to Agent the deposits (and any interest theretofore earned thereon) with respect to the Projects, to be held by Agent subject to the terms of their related Resident Agreements. No Resident Agreements (i) deviate or will deviate in any material adverse respect from the standard form approved by Agent prior to Closing, or (ii) conflict with any Laws.
Sample 1

Related to Resident Deposits and Resident Agreements

  • 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.

  • Service Agreements Manager shall negotiate and execute on behalf of Owner such agreements which Manager deems necessary or advisable for the furnishing of utilities, services, concessions and supplies, for the maintenance, repair and operation of the Property and such other agreements which may benefit the Property or be incidental to the matters for which Manager is responsible hereunder.

  • Student Agreement It is important that I work to the best of my ability. Therefore, I shall strive to do the following:

  • Business Locations Set forth on Schedule 6.20(a) is a list of all Real Properties located in the United States that are owned or leased by the Loan Parties as of the Closing Date. Set forth on Schedule 6.20(b) is a list of all locations where any tangible personal property of a Loan Party is located as of the Closing Date. Set forth on Schedule 6.20(c) is the chief executive office, jurisdiction of incorporation or formation and principal place of business of each Loan Party as of the Closing Date.

  • Assignment of Management Agreement As additional collateral security for the Loan, Borrower conditionally transfers, sets over, and assigns to Lender all of Borrower’s right, title and interest in and to the Management Agreement and all extensions and renewals. This transfer and assignment will automatically become a present, unconditional assignment, at Lender’s option, upon a default by Borrower under the Note, the Loan Agreement, the Security Instrument or any of the other Loan Documents (each, an “Event of Default”), and the failure of Borrower to cure such Event of Default within any applicable grace period.

  • Assumption Agreements In the event that any assumption agreement or substitution of liability agreement is entered into with respect to any Mortgage Loan subject to this Agreement in accordance with the terms and provisions of the Pooling and Servicing Agreement, the Master Servicer shall notify the Custodian that such assumption or substitution agreement has been completed by forwarding to the Custodian the original of such assumption or substitution agreement, which copy shall be added to the related Custodial File and, for all purposes, shall be considered a part of such Custodial File to the same extent as all other documents and instruments constituting parts thereof.

  • Consulting Agreements The Shareholders shall have entered into the Consulting Agreements with Buyer.

  • Certain Operative Agreements Furnish to the Liquidity Provider with reasonable promptness, such Operative Agreements entered into after the date hereof as from time to time may be reasonably requested by the Liquidity Provider.

  • Client Agreements Supplier will have a direct contract with, or provide its standard Product or Service terms directly to, Client, which will be enforceable solely between Client and Supplier, for all terms related to Client’s receipt and use of Products and Services (each a “Client Agreement”), other than the payment, risk of loss, and delivery terms that are contracted directly with Accenture.

  • Employment Agreements Each of the persons listed on Schedule 9.12 shall have been afforded the opportunity to enter into an employment agreement substantially in the form of Annex VIII hereto.

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