Borrowing Base Covenants. Borrower shall:
Borrowing Base Covenants. The Borrower shall cause the Eligible Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that if the requirements of the definition of Borrowing Base Requirements are not met, then within five (5) Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) the Eligible Property’s Borrowing Base Value shall have been lowered or removed from the Borrowing Base to the extent necessary to cause such failure to no longer exists.
Borrowing Base Covenants. (a) The Borrower shall cause the Eligible Properties in the Borrowing Base to at all times comply with the Borrowing Base Requirements; provided that if the requirements of the definition of Borrowing Base Requirements are not met, then within five (5) Business Days of notice of such failure either (i) the Borrower shall have cured such failure or (ii) the Eligible Property's Borrowing Base Value shall have been lowered or removed from the Borrower Base to the extent necessary to cause such failure to no longer exists.
Borrowing Base Covenants. All assets included in the Borrowing Base must be owned by Borrower or a Guarantor and must be unencumbered except for Permitted Liens; provided, however, that for purposes of this paragraph, the term “Permitted Liens” shall not include Liens permitted under clauses (iii), (xiv) and, unless it would otherwise be permitted under another category of Permitted Liens, (xv) of §8.2.
Borrowing Base Covenants. The Borrower shall not:
Borrowing Base Covenants. The Borrower shall at all times comply with the following, tested as of date of any Borrowing and as of the close of each Fiscal Quarter:
(a) the minimum weighted average remaining lease term of all such Borrowing Base Assets shall be at least five (5) years;
(b) the Borrower shall maintain a minimum of twenty (20) Borrowing Base Assets with a minimum aggregate Property Value of not less than $250,000,000;
(c) No more than fifteen percent (15%) of the Borrowing Base Amount be attributable to Borrowing Base Assets subject to Eligible Ground Leases; provided that a breach of this provision shall not constitute an Event of Default under this Agreement but shall result in the amount in excess of fifteen percent (15%) being excluded when calculating the Borrowing Base Amount;
(d) a minimum 75% of the Property Value of the Borrowing Base Assets must come from skilled nursing facilities, assisted living facilities and independent living facilities; and
(e) the Rent Coverage Ratio shall be at least 1.50 to 1.0.
Borrowing Base Covenants. The Loan Parties shall not permit:
Borrowing Base Covenants. 34 4.5 Failure to Comply With Borrowing Base Covenants..................34
Borrowing Base Covenants. Section 2.14(a)(ix) of the Credit Agreement is hereby amended and restated in its entirety as follows:
Borrowing Base Covenants. After the Initial Pledge Date, Borrower shall:
