Subordination of Debt and Distributions. Tenant will not subordinate the Rent payable under this Lease to any creditor obligation or debt. Rent will be paid and received, and current under this Lease and replenishment of the Rent Reserve Fund shall occur, before (a) any other creditor obligation or debt is paid; and (b) any profits or salaries are distributed to Tenant’s owners or their assignees or Manager.
Appears in 2 contracts
Samples: Lease (Global Medical REIT Inc.), Purchase Agreement (Global Medical REIT Inc.)
Subordination of Debt and Distributions. Tenant will not seek to subordinate the Rent payable under this Lease to any creditor obligation or debt. Rent will be paid and received, and current under this Lease and replenishment of the Rent Reserve Fund shall occurLease, before (a) any other creditor obligation or debt is paid; and (b) any profits or salaries are distributed to Tenant’s owners or their assignees or Managerassigns.
Appears in 2 contracts
Samples: Lease (Global Medical REIT Inc.), Lease (First Choice Healthcare Solutions, Inc.)
