Baptist North Sample Clauses

Baptist North. (a) The Ground Lease for the Mortgaged Property identified on the Mortgage Loan Schedule as Baptist North prohibited transfers/assignments (except in a foreclosure) for the first five years of the Ground Lease, and places limitations (except in a foreclosure) on transfers to a person operating in acute care hospital unless such transferee owns the Baptist North Hospital. (b) The mortgagee has the same cure period as lessee under the Ground Lease for the Mortgaged Property identified on the Mortgage Loan Schedule as Baptist North. (c) The Ground Lease for the Mortgaged Property identified on the Mortgage Loan Schedule as Baptist North provides that, after the occurrence of an event of default, lessor may initiate a buy-out procedure under which the leased land and the Ground Lease improvements are to be appraised and then the lessor may elect to either purchase the Ground Lease improvements from the lessee or to sell the leased land to the lessee.