Conditionally Permitted Actions. In addition to and after an increase or decrease in the respective number and total percentage of Assisted Living Residences and Independent Living Units at the Mortgaged Property as permitted by Sections 5.25(b) and (c), Borrower may take the following actions (“Acuity Mix Conversion”), subject to Borrower’s satisfaction of the conditions of this Section 5.25(e):
Appears in 2 contracts
Samples: Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.), Multifamily Loan and Security Agreement
Conditionally Permitted Actions. In addition to and after an increase or decrease in the respective number and total percentage of Independent Living Units, Assisted Living Residences, and Memory Care Residences and Independent Living Units at the Mortgaged Property as permitted by Sections 5.25(b) and (c), Borrower may take the following actions (“Acuity Mix Conversion”), subject to Borrower’s satisfaction of the conditions of this Section 5.25(e):
Appears in 1 contract
Conditionally Permitted Actions. In addition to and after an increase or decrease in the respective number and total percentage of Assisted Living Residences and Independent Living Units at the Mortgaged Property by up to 10% 25% as permitted by Sections Section 5.25(b) and (c), Borrower may take undertake the Expansion Project, which will include the following actions (“Acuity Mix Conversion”), subject to Borrower’s satisfaction of the conditions of this Section 5.25(e):5.25(c) and the conditions of Section 6.32:
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Sentio Healthcare Properties Inc)
