Health Care Covenants. (a) Borrower shall comply in all material respects with, and shall obtain all permits required by, all Health Care Laws applicable to Borrower.
(b) Borrower shall promptly furnish to Lender a copy of any communication from any Governmental Authority concerning any possible violation of any Health Care Laws or any occurrence of which Borrower would be required to notify any Governmental Authority with jurisdiction over Health Care Laws.
Health Care Covenants. (a) Borrower shall cause Operating Lessee to cause the operations conducted or to be conducted at each RIDEA Facility to be conducted in a manner consistent in all material respects with Health Care Requirements and, in connection therewith, Borrower covenants that:
(i) Operating Lessee shall cause a standard of care to be maintained for the residents of each RIDEA Facility at all times at a level necessary to insure a level of quality care for the residents of such RIDEA Facility in compliance in all material respects with Health Care Requirements;
(ii) Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to cause each Master Tenant and each Subtenant to cause a standard of care to be maintained in the storage, use, transportation and disposal of all medical equipment, medical supplies, medical products or gases, and medical waste, of any kind and in any form, that is in compliance in all material respects with all applicable Legal Requirements and Health Care Requirements;
(iii) Operating Lessee shall cause each RIDEA Facility to be operated in a prudent manner in material compliance with applicable Health Care Requirements relating thereto and all material Health Care Licenses and Program participation agreements;
(iv) Operating Lessee shall cause all deposits relating to Health Care Requirements, including deposits relating to residents or residency agreements to be maintained in material compliance with all Health Care Requirements. Operating Lessee shall, upon reasonable written request, provide Lender with evidence reasonably satisfactory to Lender of Operating Lessee compliance with the foregoing; and
(v) Operating Lessee shall cause all residency and other agreements with residents of the RIDEA Facilities to materially comply with all applicable Health Care Requirements.
(b) Operating Lessee shall not and Borrower shall cause Mortgage Borrower to use commercially reasonable efforts to not cause or permit any Master Tenant and/or any Subtenant to, (A) assign or transfer any of its interest in any Health Care Licenses or Program (including rights to payment thereunder) pertaining to Mortgage Borrower, such Master Tenant and/or such Subtenant or any applicable Facility, including each RIDEA Facility, as applicable, or (B) assign or transfer, remove or permit any other Person to physically transfer or remove any current records pertaining to any applicable Facility, including each RIDEA Facility, as applicable, therefrom, incl...
Health Care Covenants. (a) Borrower shall comply in all material respects with, and will obtain all permits required by, all Health Care Laws applicable to it.
(b) Borrower shall promptly furnish to Lender a copy of any communication from any governmental authority concerning any possible violation of any Health Care Laws or any occurrence of which Borrower would be required to notify any Governmental Authority with jurisdiction over Health Care Laws.
Health Care Covenants. Without limiting the generality of the provisions of Section 6.05, each Borrower hereby represents, covenants and agrees as follows:
(a) If and to the extent required under applicable Laws, each Borrower shall, and shall cause each Operator to, maintain in full force and effect a valid certificate of need ("CON") or similar certificate, license, or approval issued by the State Regulator for the requisite number of Senior Housing Units (other than the independent living units) in the Borrowing Base Assets, and a provider agreement or other required documentation of approved provider status for each provider payment or reimbursement program, if applicable. Each Borrower shall, and shall cause each Operator to, operate the Borrowing Base Assets in a manner such that the Licenses shall remain in full force and effect. True and complete copies of the Licenses have been delivered to Lender.
(b) The Licenses:
(i) Are not now and will not be (A) transferred to any location other than the applicable Borrowing Base Asset or (B) pledged as collateral security for any loan or indebtedness, other than the Loan; and
(ii) Shall continue in full force and effect throughout the term of the Credit Facility and will remain free from restrictions or known conflicts, and shall not be provisional, probationary or restricted in any manner which would materially impair the use or operation of the applicable Borrowing Base Asset as a skilled nursing facility, assisted living facility, memory care facility, or senior independent living facility, as applicable.
(c) The Borrowers shall not do, and shall not permit any Operator to do (or suffer to be done), any of the following with respect to the Borrowing Base Assets:
(i) Rescind, withdraw, revoke, or amend the number of Senior Housing Units permitted under the Licenses or otherwise amend the Licenses in such a manner that results in a Material Adverse Effect on the rates charged or otherwise diminish or impair the nature, tenor or scope of the Licenses or which could in any way be reasonably expected to materially impair the use or operation of the applicable Borrowing Base Asset as a skilled nursing facility, assisted living facility, memory care facility, or senior independent living facility, as applicable;
(ii) Replace or transfer all or any part of any Borrowing Base Asset's licensed beds or CON to another site or location other than another Borrowing Base Asset;
Health Care Covenants. (a) Each Guarantor shall comply in all material respects with, and will obtain all permits required by, all Health Care Laws applicable to them.
(b) Each Guarantor shall promptly furnish to Lender a copy of any communication from any governmental authority concerning any possible violation of any Health Care Laws or any occurrence of which Guarantor would be required to notify any Governmental Authority with jurisdiction over Health Care Laws.
Health Care Covenants. The Borrower will, and will cause each of its Subsidiaries to:
(a) operate and conduct their business in material compliance with all applicable Health Care Laws;
(b) take all such actions as are necessary and appropriate so that no material liability with respect to the Health Care Laws may arise;
(c) promptly, and in no case more than five (5) Business Days after any executive or financial officer of the Borrower or any Subsidiary thereof obtains knowledge of the existence of (x) any notice which alleges, asserts or is related to any material noncompliance with any Health Care Law or exclusion or potential exclusion from any Federal Health Care Program, or (y) any requests or requirements of a Governmental Authority, notify the Bank and provide copies upon receipt of all such written claims, complaints, notices or inquiries regarding compliance with, or liability pursuant to, the Health Care Laws, accompanied by an explanation of the anticipated effect thereof and any response thereto; and
(d) provide such information and certifications which the Bank may reasonably request from time to time to evidence compliance with this Section 6.13. WEST\258948078.15 29
Health Care Covenants. Without limiting the generality of the provisions of Section 6.05, the Borrowers hereby represents, covenant and agree as follows:
(a) If and to the extent required under applicable Laws, Borrowers shall cause each Eligible Tenant to maintain in full force and effect a valid certificate of need (“CON”) or similar certificate, license, or approval issued by the State Regulator for the requisite number of Licensed Beds in the Real Property Assets, and a provider agreement or other required documentation of approved provider status for each provider payment or reimbursement program with which such Eligible Tenant participates, if applicable. Borrowers shall cause each Eligible Tenant to operate the Real Property Assets in a manner such that the Licenses shall remain in full force and effect. True and complete copies of the Licenses have been delivered to Lender.
Health Care Covenants. 21 Section 9.12. Distributions .......................................... 21 Section 9.13. Subordinate Obligations ................................ 21 Section 9.14. Amendments ............................................. 21 Section 9.15. Cash Flow Ratio ........................................ 22 Section 9.16.
Health Care Covenants. 16 Section 7.13. Distributions..................................................................17
Health Care Covenants. Obligor will (a) comply in all material respects with, and will obtain all material permits required by, all Health Care Laws applicable to it and (b) promptly furnish to DVI a copy of any communication from any Governmental Authority concerning any material violation of any Health Care Laws.
