Common use of Tenant Termination Clause in Contracts

Tenant Termination. Tenant shall have the right to terminate this Agreement, without paying any fee or penalty, when and if one of the following events occur (hereinafter collectively referred to as “Management Company Default”), after which Tenant shall have the right – but not the obligation – to declare a termination of this Agreement in accordance with the termination protocols set forth below: (a) appointment of a receiver or trustee to manage the assets of Management Company; (b) assignment for the benefit of creditors of the assets of Management Company; (c) suspension, termination or revocation of any material License, with no further opportunity to appeal or contest such suspension, termination or revocation; (d) Management Company’s gross negligence or willful misconduct; (e) any voluntary act of bankruptcy by Management Company, or any involuntary bankruptcy proceeding commenced against Management Company and not dismissed within sixty days of the commencement thereof; (f) Management Company’s breach of any provisions of this Agreement, where such breach has not been cured within thirty (30) days after the giving of written notice specifying the nature of the breach or such longer period as may reasonably be required to diligently effect such cure; and/or (g) Any “Management Company Default” by Management Company under any of the Affiliated Agreements; provided, however, Tenant and Management Company hereby agree that the failure of a facility under an Affiliated Agreement to satisfy the performance termination test set forth in Section 7.3 (Performance Termination) of such Affiliated Agreement shall not constitute a “Management Company Default” by Management Company under such Affiliated Agreement.

Tenant Termination. Tenant shall have the right to terminate this Agreement, without paying any termination fee or penalty, when and if one of the following events occur (hereinafter collectively referred to as “Management Company Default”), after which Tenant shall have the right – right, but not the obligation – obligation, to declare a termination of this Agreement in accordance with the termination protocols set forth below: (a) appointment of a receiver or trustee to manage the assets of Management Company; (b) assignment for the benefit of creditors of the assets of Management Company; (c) suspensiona ban on admissions to the Facility, suspension of any operating license, or termination or revocation of any material Licenselicense, with no further opportunity if not corrected within five (5) Business Days, or such longer period as may be required to appeal reinstate or contest such suspension, termination or revocationotherwise make effective any license; (d) Management Company’s gross negligence or willful misconduct; (e) any voluntary act of bankruptcy by Management Company, or any involuntary bankruptcy proceeding commenced against Management Company and not dismissed within sixty days of the commencement thereof; (f) Management Company’s breach of any provisions of this Agreement, where such breach has not been cured within thirty (30) days after the giving of written notice specifying the nature of the breach (or such longer period as may reasonably be required to diligently effect such cure; and/or), specifying the nature of the breach, and complying with all provisions regarding mediation set forth herein. (g) Any “Management Company Default” by Management Company under any of the Affiliated Agreements; provided, however, Tenant and Management Company hereby agree that the failure of a facility under an Affiliated Agreement to satisfy the performance termination test set forth in Section 7.3 (Performance Termination) of such Affiliated Agreement shall not constitute a “Management Company Default” by Management Company under such Affiliated Agreement.

Tenant Termination. Tenant shall have the right to terminate this Agreement, without paying any fee or penalty, when and if one of the following events occur (hereinafter collectively referred to as “Management Company Default”), after which Tenant shall have the right – but not the obligation – to declare a termination of this Agreement in accordance with the termination protocols set forth below: (a) appointment of a receiver or trustee to manage the assets of Management Company; (b) assignment for the benefit of creditors of the assets of Management Company; (c) suspension, termination or revocation of any material License, with no further opportunity to appeal or contest such suspension, termination or revocation; (d) Management Company’s gross negligence or willful misconduct; (e) any voluntary act of bankruptcy by Management Company, or any involuntary bankruptcy proceeding commenced against Management Company and not dismissed within sixty days of the commencement thereof; (f) Management Company’s breach of any provisions of this Agreement, where such breach has not been cured within thirty (30) days after the giving of written notice specifying the nature of the breach or such longer period as may reasonably be required to diligently effect such cure; and/or (g) Any “Management Company Default” by Management Company under any of the Affiliated Agreements; provided, however, Tenant and Management Company hereby agree that the failure of a facility under an Affiliated Agreement to satisfy the performance termination test set forth in Section 7.3 (Performance Termination) of such Affiliated Agreement shall not constitute a “Management Company Default” by Management Company under such Affiliated Agreement.

Tenant Termination. Tenant shall have the right to terminate this Agreement, without paying any fee or penalty, when and if one of the following events occur (hereinafter collectively referred to as “Management Company Default”), after which Tenant shall have the right – but not the obligation – to declare a termination of this Agreement in accordance with the termination protocols set forth below: (a) appointment of a receiver or trustee to manage the assets of Management Company; (b) assignment for the benefit of creditors of the assets of Management Company; (c) suspension, termination or revocation of any material License, with no further opportunity to appeal or contest such suspension, termination or revocation; (d) Management Company’s gross negligence or willful misconduct; (e) any voluntary act of bankruptcy by Management Company, or any involuntary bankruptcy proceeding commenced against Management Company and not dismissed within sixty days of the commencement thereof; (f) Management Company’s breach of any provisions of this Agreement, where such breach has not been cured within thirty (30) days after the giving of written notice specifying the nature of the breach or such longer period as may reasonably be required to diligently effect such cure; and/or (g) Any “Management Company Default” by Management Company under any of the Affiliated Agreements; provided, however, Tenant and Management Company hereby agree that the failure of a facility under an Affiliated Agreement to satisfy the performance termination test set forth in Section 7.3 (Performance Termination) of such Affiliated Agreement shall not constitute a “Management Company Default” by Management Company under such Affiliated Agreement.

Tenant Termination. Tenant shall have the right to terminate this Agreement, without paying any fee or penalty, when and if one of the following events occur (hereinafter collectively referred to as “Management Company Default”), after which Tenant shall have the right – but not the obligation – to declare a termination of this Agreement in accordance with the termination protocols set forth below: (a) appointment of a receiver or trustee to manage the assets of Management Company; (b) assignment for the benefit of creditors of the assets of Management Company; (c) suspensionban on admissions, suspension of any operating license, or termination or revocation of any material Licenselicense, with no further opportunity if not corrected within five (5) Business Days, or longer as may be required to appeal reinstate or contest such suspension, termination or revocationotherwise make effect any license; (d) Management Company’s gross negligence or willful misconduct; (e) any voluntary act of bankruptcy by Management Company, or any involuntary bankruptcy proceeding commenced against Management Company and not dismissed within sixty days of the commencement thereof;thereof ; and/or (f) Management Company’s breach of any provisions of this Agreement, where such breach has not been cured within thirty (30) days after the giving of written notice specifying the nature of the breach or such longer period as may reasonably be required to diligently effect such cure; and/or (g) Any “Management Company Default” by Management Company under any , specifying the nature of the Affiliated Agreements; providedbreach, however, Tenant and Management Company hereby agree that the failure of a facility under an Affiliated Agreement to satisfy the performance termination test complying with all provisions regarding mediation set forth in Section 7.3 (Performance Termination) of such Affiliated Agreement shall not constitute a “Management Company Default” by Management Company under such Affiliated Agreementherein.