TRS Lease definition
Examples of TRS Lease in a sentence
On or prior to the Closing Date, HCP and Brookdale shall also cause RIDEA Op-HoldCo to form each RIDEA OpCo-Sub by filing all required documents with the Secretary of State’s Office of the State of Delaware and each other State as they may determine to be necessary to qualify each such RIDEA OpCo-Sub to do business in any such other State, including each State in which such RIDEA OpCo-Sub shall lease a RIDEA Contributed Facility pursuant to a RIDEA TRS Lease.
Each CCRC Prop-Sub shall lease to the applicable CCRC OpCo-Sub a CCRC PropCo Facility pursuant to a CCRC TRS Lease.
Each RIDEA Prop-Sub and each RIDEA OpCo-Sub shall enter into a RIDEA TRS Lease with respect to the applicable RIDEA Contributed Facility.
Lender further consents to (A) the execution and delivery of the TRS Lease (provided that such lease shall at all times be subject and subordinate to the liens and encumbrances securing the Obligations) and (B) the execution and delivery of the Management Agreement (subject to the terms and conditions of the Management Agreement Assignment).
On or prior to the Closing Date, HCP and Brookdale shall also cause CCRC Op-HoldCo to form each CCRC OpCo-Sub by filing all required documents with the Secretary of State’s Office of the State of Delaware and each other State as they may determine to be necessary to qualify each such CCRC OpCo-Sub to do business in any such other State, including each State in which such CCRC OpCo-Sub shall lease a CCRC Contributed Facility pursuant to a CCRC TRS Lease.