Common use of Business and Operations Clause in Contracts

Business and Operations. Borrower will continue to engage only in the businesses currently conducted by it on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower shall at all times cause the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facility.

Appears in 3 contracts

Samples: Loan Agreement (Summit Healthcare REIT, Inc), Loan Agreement (Cornerstone Core Properties REIT, Inc.), Loan Agreement (Cornerstone Core Properties REIT, Inc.)

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Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facilitymedical office building.

Appears in 2 contracts

Samples: Loan Agreement (Healthcare Trust, Inc.), Loan Agreement (Healthcare Trust, Inc.)

Business and Operations. Subject to Section 8.25 hereof, Borrower will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the ProjectsProject. Borrower shall at all times cause the Projects Project to be maintained in accordance with the ProjectsProject’ use as a senior housing and and/or senior healthcare facility.

Appears in 1 contract

Samples: Loan Agreement (NorthStar Healthcare Income, Inc.)

Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facility or medical office facility, as applicable.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital Healthcare Trust Inc)

Business and Operations. Borrower will continue to engage only in the businesses currently conducted by it on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the ProjectsProject or the Property. Borrower shall at all times cause the Projects Project to be maintained in accordance with the Projects’ Property’s intended use as a senior housing and healthcare facility[applicable use of improvements].

Appears in 1 contract

Samples: Construction Loan Agreement

Business and Operations. Borrower will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the ProjectsProject. Borrower shall at all times cause the Projects Project to be maintained in accordance with the Projects’ Project’s use as a senior housing and healthcare facility.

Appears in 1 contract

Samples: Loan Agreement (Summit Healthcare REIT, Inc)

Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facilityskilled nursing facilities.

Appears in 1 contract

Samples: Loan Agreement (Care Capital Properties, Inc.)

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Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it on the date hereof, as and to the extent the same are necessary for for, the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ Project’s use as a senior housing and healthcare facilitymedical office building.

Appears in 1 contract

Samples: Loan Agreement (Healthcare Trust, Inc.)

Business and Operations. Borrower will continue to engage only in the businesses currently conducted by it on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower shall at all times cause each of the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facilitysuch Project’s Primary Intended Use.

Appears in 1 contract

Samples: Loan Agreement (Emeritus Corp\wa\)

Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ Project’s use as a senior housing and healthcare facility.

Appears in 1 contract

Samples: Loan Agreement (Ensign Group, Inc)

Business and Operations. Borrower Borrowers will continue to engage only in the businesses currently conducted by it them on the date hereof, as and to the extent the same are necessary for the ownership and leasing of the Projects. Borrower Borrowers shall at all times cause the Projects to be maintained in accordance with the Projects’ use as a senior housing and healthcare facilityfacilities.

Appears in 1 contract

Samples: Loan Agreement (Healthcare Trust, Inc.)

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