Certificate of Need. Under applicable laws and regulations as in effect on the date of this Loan Agreement, if any existing management agreement or operating lease is terminated or Lender acquires the Facility through foreclosure or otherwise, none of Borrower, Lender, any subsequent operator or management agent, or any subsequent purchaser (through foreclosure or otherwise) must obtain a certificate of need from any Governmental Authority (other than giving of any notice required under the applicable state law or regulation) prior to applying for any License, so long as neither the type of service nor any unit complement is changed.
Appears in 10 contracts
Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.)
Certificate of Need. Under applicable laws and regulations as in effect on the date of this Loan Agreement, if any existing management agreement or operating lease is terminated or Lender acquires the Facility through foreclosure or otherwise, none of Borrower, Lender, any subsequent operator or management agent, or any subsequent purchaser (through foreclosure or otherwise) must obtain a certificate of need from any Governmental Authority (other than giving of any notice required under the applicable state law or regulation) prior to applying for any Facility License, so long as neither the type of service nor any unit complement is changed.
Appears in 1 contract
