15 AAC 118.070 - Primary documents between applicant and operator
(a) No agreement,
contract or any other document which is a component part of the underlying
documents to an applicant 's bond issue, or for which authority verification or
approval is required, may be modified or partially or wholly assigned without
the authority's written approval of the terms of the modification or of the
assignment and the assignee.
(b) An
applicant is considered the operator of the medical facility or proposed
medical facility under this chapter. However, should the operator or proposed
operator be other than the applicant , the applicant and operator or proposed
operator, by whatever designation called, must submit to the authority for its
approval the lease, operation contract, management contract or other primary
documents defining the relationship between the applicant and the operator or
proposed operator.
(c) The lease,
operation contract, management contract or other primary documents between the
applicant and operator or proposed operator if other than the applicant , must
contain clauses granting to the authority and its assignees the same remedies
upon default granted to the applicant and disallowing the removal of
improvements during the default period. Should this clause be omitted from the
lease, operation contract, management contract or other primary agreement
between the applicant and operator or proposed operator, it shall be considered
to be inferentially part of that lease or contract and shall be added by
amendment by the applicant and operator. If they fail to amend the lease or
contract within a reasonable time, the authority may so amend the appropriate
documents on behalf of the applicant and operator or proposed
operator.
(d) The applicant and
operator may not assign or modify the lease, operation contract, management
contract or other primary agreement without the prior approval of the
authority.
Notes
Authority:AS 18.26.050(4)
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