Other Centers definition
Examples of Other Centers in a sentence
Accordingly, Buyer agrees that (i) Buyer will cooperate with Seller to effect a tax-free exchange or exchanges in accordance with the provisions of Section 1031 of the Code and the regulations promulgated with respect thereto; and (ii) it is a condition of this agreement that Buyer and Seller enter into a mutually agreeable contract pursuant to which Buyer will agree to sell to Seller, and Seller will agree to purchase from Buyer the Other Centers.
Rent Credit Amounts attributable to the sale of the Deer Lodge facility shall be allocated as follows: the first $400,379 shall be applied to reduce the annual base rent payable under the HUD 6 Lease and any Rent Credit Amount exceeding such amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
Each of the Interim Base Rent Reductions was initially allocated to the following four (4) Master Leases in these amounts: Ohio Master Lease ($2,998); Other Centers Master Lease ($65,462); GE 5 Master Lease ($53,969); and Kentucky Master Lease ($2,571).
In the event that the Replacement Rent Credit Amount is greater than the Facility Base Rent attributable to such Replacement Lease Facility, at such time as the sale of a Replacement Lease Facility occurs such excess amount shall be applied on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.
Accordingly, at such time as the sale of a Subject Facility occurs, all Subject Facility Excess Rent with respect thereto shall be reallocated on a 20/80 basis to increase the annual Base Rent payable under the Connecticut Master Lease and Other Centers Master Lease.
As further reflected in the Lease Amendment Summary, at such time as a sale of the last Subject Facility leased under the applicable Arden, Kentucky and Ohio Leases occurs all Subject Facility Excess Rent with respect thereto shall be reallocated to the Base Rent payment obligations under the Allocated Leases in the following percentages: (A) Connecticut = 16.62%; (B) Other Centers = 21.42%; and (C) Revolver = 61.96%.
The Base Rent payable under the Connecticut Master Lease and Other Centers Master Lease shall also be subject to such reductions at the time periods and in such amounts as are specified in the column entitled “Additional Provisions” set forth in the Lease Amendment Summary (the “Base Rent Reductions”).
All Other Centers: Wage Scales will be implemented as detailed in Appendix A for all positions for the Base Rate, 90 Day Rate, 1 Year Rate and 2 Year Rate.
Effective as of January 1, 2018 the annual Base Rent payable under the Portfolio Leases shall be reduced by Nineteen Million Dollars ($19,000,000), which Base Rent reduction shall be applied to the rent payable under the Connecticut Master Lease and the Other Centers Master Lease in such manner as Landlord shall determine in its reasonable discretion.
Rent Credit Amounts attributable to the sales of (i) Eagle Crest (Carmichael), ▇▇▇▇▇▇▇ Center (Kentucky) and Countryside shall be applied in their entirety to the existing Leases applicable to such facilities, and (ii) any other Subject Facilities (excluding the Replacement Lease Facilities) shall be applied in their entirety on a 20/80 basis to reduce the annual base rent payable under the Connecticut Master Lease and Other Centers Master Lease.