Common use of Management Prior to Closing Clause in Contracts

Management Prior to Closing. Assuming Buyer shall not have advised Seller in writing on or before March 31, 2012 that Buyer is unsatisfied with its due diligence investigation of and with respect to the Hospital Facilities and Purchased Assets, Seller and Buyer shall execute, and Buyer shall assume on April 1, 2012 until Closing (the “Management Period”) the management of the Hospital Facilities under, a management agreement in substantially the form set forth in Exhibit A hereto (the “Management Agreement”). On the first day of the Management Period, Seller shall be entitled to withdraw that portion of the working capital of Seller consisting of cash on hand or in banks.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Sunlink Health Systems Inc), Asset Purchase Agreement (Sunlink Health Systems Inc)