Common use of Conduct of Business and Compliance with Laws Clause in Contracts

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) maintain or cause to be maintained all deposits, including, without limitation, deposits relating to residents, patients or Resident Agreements in accordance with customary and prudent business practices and all Governmental Requirements.

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 facilityFacility, (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 adequately, as a Facility and in a manner which will enable the Borrower to comply with the provisions of the Loan Documents, and (viii) maintain or cause to be maintained all deposits, including, without limitation, deposits relating to residents, patients residents or Resident Agreements in accordance with customary and prudent business practices and all Governmental Requirements.

Conduct of Business and Compliance with Laws. The Borrower covenants Borrowers covenant and agrees agree that it or the Property Facility 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 servicesFacility, (iii) maintain or cause to be maintained the standard of care for the patients and residents of the CCRC Property each Facility at all times at a level necessary to ensure insure a level of quality care and services for the patients and residents of the CCRC Property each Facility no less than prudent industry standard for a similar facilitystandard, (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 highest prudent industry standard and in conformity with all Governmental Requirements, (v) operate operate, or cause to be operated the CCRC Property operated, each Facility 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 each Facility 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 PropertyFacility, (vii) maintain or cause to be maintained sufficient inventory and equipment of types and quantities at the CCRC Property each Facility to enable the Property Facility Related Persons to operate the CCRC Property each Facility adequately and in a manner which will enable the Borrower Borrowers to comply with the provisions of the Loan Documents, and (viii) maintain or cause to be maintained all deposits, including, without limitation, deposits relating to residents, patients residents or Resident Agreements in accordance with customary and prudent business practices and all Governmental Requirements; provided however, with respect to item (vi) above, Borrowers may in good faith, by appropriate proceedings, contest the validity or applicability of any deficiency set forth in any Agency statement of deficiencies and pending such contest Borrowers shall not be deemed in default hereunder if (1) such contest does not endanger the validity of any License in any manner that reasonably may inhibit the use of the applicable Facility in its current use, (2) such contest does not result in potential life safety issues for the residents of the Facility (in Agent's reasonable discretion), (3) Borrowers keep Agent reasonably informed as to the status of such contest, and (4) such contest is concluded prior to the Maturity Date (as it may be extended as provided herein).