Common use of Basic Rate Clause in Contracts

Basic Rate. The Resident, Resident’s Representative and Resident’s Legal Representative (add any other party to be charged under the agreement) agree that the Resident (or other specified party) will pay, and the Operator agrees to accept, the following payment in full satisfaction of the Basic Services described in Section I. B. of this Agreement. (the “Basic Rate”). The Basic Rate as of the date of this agreement is ($ per month). Your Basic Rate is determined by your room selection and may increase pursuant to Section III.E, below. Pursuant to State Regulations, you will receive a notice 45 days prior to any increase. The current rates for various rooms are set forth in Exhibit III.C.