Common use of Compliance with Facility Mortgage Documents Clause in Contracts

Compliance with Facility Mortgage Documents. (a) If the Facility is refinanced with a loan that is insured by the United States Department of Housing and Urban Development (“HUD”; such loan being a “HUD Loan”), Sublessee acknowledges that it shall deliver to Sublessor, lender and HUD any and all documentation required to obtain the approval of lender and HUD of this Sublease. Sublessee further acknowledges and agrees that if (i) the entering into of this Sublease results in the Facility Mortgagee giving notice of default or (ii) lender or HUD shall withhold its consent to and approval of this Sublease, then in either such event Sublessor shall have the right to terminate this Sublease immediately.

Appears in 2 contracts

Samples: Sublease Agreement (Adcare Health Systems, Inc), Sublease Agreement (Adcare Health Systems, Inc)

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Compliance with Facility Mortgage Documents. (a) If the The Facility is refinanced encumbered with a loan that is insured by the United States Department of Housing and Urban Development (“HUD”; such loan being a “HUD Loan”), Sublessee acknowledges that it shall deliver to Sublessor, lender and HUD any and all documentation required to obtain the approval of lender and HUD of this Sublease. Sublessee further acknowledges and agrees that if (i) the entering into of this Sublease results in the Facility Mortgagee giving notice of default or (ii) lender or HUD shall withhold its consent to and approval of this Sublease, then in either such event Sublessor shall have the right to terminate this Sublease immediately.

Appears in 1 contract

Samples: Sublease Agreement (Adcare Health Systems, Inc)

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Compliance with Facility Mortgage Documents. (a) If the The Facility is refinanced encumbered with a loan that is insured by the United States Department of Housing and Urban Development ("HUD"; such loan being a "HUD Loan"), Sublessee acknowledges that it shall deliver to Sublessor, lender and HUD any and all documentation required to obtain the approval of lender and HUD of this Sublease. Sublessee further acknowledges and agrees that if (i) the entering into of this Sublease results in the Facility Mortgagee giving notice of default or (ii) lender or HUD shall withhold its consent to and approval of this Sublease, then in either such event Sublessor shall have the right to terminate this Sublease immediately.

Appears in 1 contract

Samples: Sublease Agreement (Adcare Health Systems, Inc)

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