Major Contracts definition

Major Contracts means any Contract with a Major Contractor or Major Subcontractor.

Major Contracts. Any contract for the purchase of goods or services or any other agreement which requires payments in excess of $50,000 per year for any Facility or which cannot be terminated without penalty or termination fee on sixty (60) days notice or in which the provider of the goods or services is Emeritus or an Affiliate (except pursuant to Group Services approved in connection with an Annual Plan).

Major Contracts has the meaning ascribed to it in Section 3.10.

Examples of Major Contracts in a sentence

• All Major Contracts, including all amendments thereto, shall be reviewed, approved and entered into only in accordance with the procedures set forth in this Section 4.2.5. Such procedures shall not apply to the execution of contracts executed and delivered before the effective date of this Agreement.

• Merger Sub has delivered or made available to Company complete and correct copies of all Merger Sub Major Contracts.

• All Merger Sub Major Contracts are in full force and effect and are valid, binding, and Enforceable in accordance with their respective terms.

• All contracts for Development Work, as well as all amendments thereto, shall be approved solely by the Development Manager (pursuant to procedures developed by the Development Manager and submitted to the Management Committee for its information), except for Major Contracts that are subject to prior Management Committee approval pursuant to Section 4.2.5.1 of this Agreement.

• The Development Manager shall present all Major Contracts, including any amendments thereto, to the Management Committee for its review and action at a Level B Vote.

More Definitions of Major Contracts

Major Contracts means all Space Leases in excess of 2,000 square feet, and all Leases, consulting agreements, joint venture agreements or other contracts between Borrower and a third party operator (including joint ventures in which Borrower has an interest) relating to food and beverage operations at the Property.

Major Contracts has the meaning set forth in Section 12(b) of Schedule A.

Major Contracts means (i) any management agreement relating to the Properties, (ii) [intentionally omitted] and (iii) any brokerage, leasing, cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) relating to the Properties, in each case involving payment or expense of more than One Hundred Thousand and 00/100 Dollars ($100,000.00) during any twelve (12) month period, unless cancelable on thirty (30) days or less notice without requiring payment of termination fees or payments of any kind (other than amounts that accrued prior to the termination date).

Major Contracts means (a) any contract with a Major Contractor, or Other Design Professional, including without limitation, the Architect’s Contract, (b) any other contract which is, when aggregated with all other contracts with any Affiliate of such Contractor or Other Design Professional hired by (or on behalf of) Borrower and taking into account all Change Orders under such contract for an aggregate contract price equal to or greater than $10,000,000, (c) any contract relating to the environmental condition of the Mortgaged Property, (d) any contract relating to the management of the Property, (e) any Operating Contract that requires annual payments in excess of $500,000 and is not terminable upon thirty (30) days’ notice from Borrower without the payment of any fee or penalty whatsoever, and (f) any contract with a Borrower Related Party.

Major Contracts. Any contract entered into by Borrower relating to the Improvements in an amount equal to or exceeding $200,000.

Major Contracts has the meaning set forth in Section 8A of Schedule C attached hereto.

Major Contracts mean the agreements listed in Appendix 1 hereto, including a series of Controlling Agreements by and among the Pledgor and/or the Company and the Pledgee, such as the Exclusive Business Cooperation Agreement.