Conduct of Business and Compliance with Laws. The Borrower covenants and agrees that it or the Property Related Persons will (i) materially comply with all Governmental Requirements, including, without limitation, the Occupational Safety and Health Act of 1970, regulations issued under the Omnibus Budget Reconciliation Act of 1987, any Governmental Requirement relating to “informed consents” and rights of patients and residents, qualifications of staff, staffing requirements and delivery of services in a manner sufficient to protect the health and safety of patients and residents, (ii) maintain in full force and effect all Licenses necessary to the ownership and/or operation of the CCRC Property, including, without limitation, the license to operate the CCRC Property, Licenses and other approvals related to the storage, dispensation, use, prescription and disposal of drugs, medications and other “controlled substances” and, to the extent offered by the Borrower, the maintenance of cafeteria and other food and beverage facilities or services, (iii) maintain or cause to be maintained the standard of care for the patients and residents of the CCRC Property at all times at a level necessary to ensure a level of quality care and services for the patients and residents of the CCRC Property no less than prudent industry standard for a similar facility, (iv) maintain or cause to be maintained a standard of care in the storage, use, transportation and disposal of all medical equipment, medical supplies, medical products and medical waste, of any kind and in any form, that is in accordance with, at least, that of the prudent industry standard and in conformity with all Governmental Requirements, (v) operate or cause to be operated the CCRC Property in a prudent manner in material compliance with Governmental Requirements relating thereto and cause all Licenses, permits, certificates of need, and any other agreements materially necessary for the use and operation of the CCRC Property remain in effect, (vi) correct or cause to be corrected any deficiency set forth in any Agency statement of deficiencies, the curing of which is a condition of continued licensure or for accreditation of the CCRC Property, (vii) maintain or cause to be maintained sufficient inventory and equipment of types and quantities at the CCRC Property to enable the Property Related Persons to operate the CCRC Property adequately and in a manner which will enable the Borrower to comply with the provisions of the Loan Documents, and (viii) main...
Conduct of Business and Compliance with Laws. Do or cause to be done all things necessary to obtain, enter into, preserve and to keep in full force and effect its material rights and its trade names, patents, trademarks and Licenses, Participation Agreements, and Operating Agreements and Management Contracts which are necessary for the operation of each Facility as an adult assisted living facility (or independent living facility, as applicable) as contemplated by the Borrowers, engage in and continue to engage substantially only in the business of owning and operating an adult assisted living facility (or independent living facility, as applicable) and related services in compliance with all applicable laws of the state in which the applicable Facility is located or any other Governmental Authority having jurisdiction over such Facility, and comply with all applicable Laws, including, without limitation, regulations issued under the Omnibus Budget Reconciliation Act of 1987 (OBRA'87) (Pub.X.Xx. 000-203), as amended, and observe the valid requirements of Governmental Authorities, and perform the terms of all Participation Agreements to which it is a party, the noncompliance with or the nonobservance of which might materially interfere with the performance of its Obligations or the proper or prudent conduct of its business or the applicable Property. In addition, the Borrowers covenant and agree that they will:
Conduct of Business and Compliance with Laws. Borrower shall:
Conduct of Business and Compliance with Laws. The Borrower shall (i) do or cause to be done all things necessary to obtain, enter into, preserve and keep in full force and effect its existence and material rights and, if appropriate, construction permits and all material Licenses, Participation Agreements, and Operating Agreements and Management Contracts which are necessary for its business and the operation of the Premises as a Facility, (ii) engage in and continue to engage only in the business of owning and operating the Facility and related services, (iii) observe the valid requirements of Governmental Authorities and agents and perform the terms of all Participation Agreements, the noncompliance with or the nonobservance of which might materially interfere with the performance of its obligations under the Loan Documents or the proper or prudent conduct of its business or the Premises. and (iv) comply -ith all Governmental Requirements, including, without limitation, the Occupational Safety and Health Act of 1970, regulations issued under the Omnibus Budget Reconciliation Act of 1987, any Governmental Requirement relating to "informed consents" and rights of patients and/or residents, qualifications of staff, staffing requirements and delivery of services in a manner sufficient to protect the health and safety of patients and/or residents. In addition, the Borrower covenants and agrees that it will:
Conduct of Business and Compliance with Laws. 5.1 The Seller and all of its respective directors, officers, executives and employees (during the course of their duties in relation the Assets) have conducted the Specified Business in full compliance in all material respects with all applicable legislation (including regulations, statutory instruments, bye-laws, local and central government orders, notices and decisions).
Conduct of Business and Compliance with Laws. Except for SALII, be and remain a single purpose entity which shall engage solely in the ownership and operation of only one of the Facilities. Do or cause to be done all things necessary to obtain, enter into, preserve and to keep in full force and effect its material rights and its trade names, patents, trademarks and Licenses, Participation Agreements, and Operating Agreements and Management Contracts which are necessary for the operation of each Facility as an adult assisted living facility as contemplated by Guarantors, engage in and continue to engage substantially only in the business of owning and operating an adult assisted living facility and related services in compliance with all applicable laws of the state in which the applicable Facility is located or any other Governmental Authority having jurisdiction over such Facility, and comply with all applicable Legal Requirements, and observe the valid requirements of Governmental Authorities, and perform the terms of all Participation Agreements to which it is a party, the noncompliance with or the nonobservance of which might materially interfere with the performance of its Obligations or the proper or prudent conduct of its business or the applicable Facilities. In addition, Guarantors covenant and agree that they will:
Conduct of Business and Compliance with Laws. Do or cause to be done all things necessary to obtain, enter into, preserve and to keep in full force and effect its material rights and its trade names, patents, trademarks and Licenses, Participation Agreements, and Operating Agreements and Management Contracts which are necessary for the operation of each Facility as an adult assisted living facility (or independent living facility, as applicable), engage in and continue to engage substantially only in the business of owning and operating an adult assisted living facility (or independent living facility, as applicable) and related services in compliance with all applicable laws of the state in which the applicable Facility is located or any other Governmental Authority having jurisdiction over such Facility, and comply with all applicable Laws, including, without limitation, regulations issued under the Omnibus Budget Reconciliation Act of 1987 (OBRA'87) (Pub.X.Xx. 000-203), as amended, and observe the valid requirements of Governmental Authorities, and perform the terms of all Participation Agreements to which it is a party, the noncompliance with or the nonobservance of which might materially interfere with the performance of its Obligations or the proper or prudent conduct of its business or the applicable Property. In addition, each of the Borrowers covenants and agrees that it will:
Conduct of Business and Compliance with Laws. Each Borrower shall, --------------------------------------------- and shall cause each of its Subsidiaries to, engage only in the businesses in which such Borrower or Consolidated Subsidiary is engaged on the date hereof, except for other businesses that are ancillary, incidental or necessary to its ongoing business as presently conducted. Each Borrower shall, and shall cause each of its Subsidiaries to, conduct its business in compliance in all material respects with all Applicable Law, including without limitation, ERISA, and all its Contractual Obligations and in such a way so that it will not be in breach of any of its representations and warranties contained in Section 4.10.
Conduct of Business and Compliance with Laws. (a) Do or cause to be done all things necessary to obtain, enter into, preserve and to keep in full force and effect its material rights and its trade names, patents, trademarks and Licenses, Participation Agreements, and Operating Agreements and Management Contracts which are necessary for the operation of each Facility as an adult assisted living facility (or independent living facility, as applicable) as contemplated by the Borrower, (b) engage in and continue to engage substantially only in the business of owning and operating an adult assisted living facility (or independent living facility, as applicable) and related services in compliance with all applicable laws of the state in which the applicable Facility is located or any other Governmental Authority having jurisdiction over such Facility, and (c) comply with all applicable Laws, including, without limitation, regulations issued under the Omnibus Budget Reconciliation Act of 1987 (OBRA'87) (Pub.X.Xx. 000-203), as amended, and observe the valid requirements of Governmental Authorities, and perform the terms of all Participation Agreements to which it is a party, the noncompliance with or the nonobservance of which might materially interfere with the performance of its Obligations or the proper or prudent conduct of its business or the applicable Property. In addition, the Borrower covenants and agrees that it will:
Conduct of Business and Compliance with Laws. The Borrower shall (i) do or cause to be done all things necessary to obtain, enter into, preserve and keep in full force and effect its existence and material rights and, if appropriate, construction permits and all material Licenses and Operating Agreements and Management Contracts
