Common use of Permanent Closure Clause in Contracts

Permanent Closure. Upon the permanent closure of the School and the ending of operations by the School and Corporation hereunder, any property that was acquired by the Operator with Continuing Fees it receives from the Corporation or State Grant Funds during the term of this Agreement shall be distributed in accordance with Section 3314.074 of the Ohio Revised Code.

Appears in 2 contracts

Sources: Management Agreement, Management Agreement