Examples of Existing Operator in a sentence
Except as otherwise disclosed to Buyer in writing, Existing Owner and/or Existing Operator hold all government authorizations necessary for the operation of the Property in accordance with its current uses.
Existing Operator and Purchaser (or its designee) shall have entered into the OTA, the OTA shall be in full force and effect, and the consummation of the transactions contemplated by the OTA shall occur simultaneously with the Closing under this Agreement.
The aggregate cost of all Hired Employee Closing-Month Insurance Benefits shall be prorated between Buyer and Existing Operator based on the day of such month that the Closing occurs.
Existing Owner and Existing Operator, as applicable, have good title to all the Personal Property and Intangible Property and the execution and delivery to Buyer of the Xxxx of Sale shall vest good title to all of the Personal Property and Intangible Property in Buyer, free and clear of liens, encumbrances and adverse claims.
Existing Owner and/or Existing Operator have all licenses, permits (including, without limitation, all building permits and occupancy permits), easements and rights-of-way which are required in order to continue the present use of the Property and ensure adequate vehicular and pedestrian ingress and egress to the Property.
Further, except for “Accrued Employee Benefits” (as hereinafter defined), there shall be no other adjustment for wages, vacation pay, pension and welfare benefits and other fringe benefits of all persons employed by Existing Operator at the Community; it being the intent of the parties that Buyer shall have no liability or obligation with respect to any employee of Existing Operator prior to Closing.
All employees are employees of Existing Operator (“Community Employees”).
Neither Seller has received (either directly or delivered to Existing Owner by Existing Operator) since January 1, 2011 any written notice from a governmental authority (including, without limitation, DSS) alleging any violation under any Current Licenses that has not been previously remedied or stating any intention to cancel, terminate, suspend, restrict or not renew any of the Current Licenses, and has not received any notices of informal conference or noncompliance conference.
If requested by Buyer, Existing Operator shall fund the cost of benefits to those Community Employees to whom Buyer offers employment in accordance with this Agreement and who accept such offer of employment (“Hired Employees”) for the entire calendar month in which the Closing occurs (collectively, the “Hired Employee Closing-Month Insurance Benefits”).
All of the “Community Employees” (as hereinafter defined) are at-will, common law employees of Existing Operator.