Occupation Right Agreement definition
Examples of Occupation Right Agreement in a sentence
The available Service Levels are set out in the First Schedule of this Occupation Right Agreement.
This Occupation Right Agreement shall terminate upon the death of the Resident, or, where two Residents have jointly signed this Occupation Right Agreement, upon the death of the surviving Resident.
The rules shall not be contrary to the terms of this Occupation Right Agreement and in the event of any conflict the terms of this Occupation Right Agreement shall prevail.
The Operator shall notify the Resident of the rules and any changes thereto, and the Resident agrees to comply with such rules and regulations and changes thereto as a condition of the continuation of this Occupation Right Agreement.
The Operator is not obliged to accept any prospective Resident who does not meet the Operator’s normal entry criteria or whose offer for an Occupation Right Agreement does not meet market value or conditions.
With effect from the notified day, all the Operator’s rights and obligations under this Occupation Right Agreement shall pass to the replacement Operator and the Operator shall have no further rights and obligations to the Resident.
The Resident agrees to continue to observe and perform all of the Resident’s obligations under this Occupation Right Agreement for the benefit of the replacement Operator.
From 2 October 2009 the Operator shall comply with the Operator’s responsibilities relating to the sale or disposal of a vacant residential unit following Termination of an Occupation Right Agreement clause of the Code of Practice, including the Operator’s obligations to consult with the Resident about the marketing of the Unit and keep the Resident informed.
This Occupation Right Agreement shall terminate upon the expiry of one calendar month’s written notice from the Resident terminating the Occupation Right Agreement for any reason PROVIDED HOWEVER that subject to clauses 3.2(j) and 3.2(k), the Resident shall continue to be liable for all payments under clause 3.
The Valuation Amount is the value of an Occupation Right Agreement for the Unit upon termination of this Occupation Right Agreement, and shall be determined by agreement between the Operator and the Resident or the personal representatives of a deceased Resident such value being fixed by reference to recent Occupation Right Agreement values.