Common use of Medicare and Medicaid Clause in Contracts

Medicare and Medicaid. (a) Borrower represents and warrants that neither Borrower nor any management agent for the Mortgaged Property or any operator of the Mortgaged Property currently participates in any Medicaid programs, Medicare programs or any other third party payors’ programs or other similar provider payment programs in connection with the operation of the Mortgaged Property. (b) Without the prior written consent of Lender, which may be granted or withheld in Lender’s discretion, Borrower shall not, and shall not permit any management agent for the Mortgaged Property or any operator of the Mortgaged Property to, participate in Medicare or Medicaid, or any provider agreement under Medicare or Medicaid, or accept any resident whose ability to reside in the Mortgaged Property requires that Borrower, the Mortgaged Property or any management agent for the Mortgaged Property or any operator of the Mortgaged Property participate in Medicare, Medicaid or any similar provider program. (c) In addition to the Events of Default listed in Sections 22 and 55, it also shall constitute an Event of Default if Borrower participates, or permits any management agent for the Mortgaged Property or operator of the Mortgaged Property to participate, in Medicare, Medicaid, or any similar or successor payment provider plan.”

Medicare and Medicaid. (a) Borrower represents and warrants that neither Borrower nor any management agent for the Mortgaged Property or any operator of the Mortgaged Property currently participates in any Medicaid programs, Medicare programs or any other third party payors’ programs or other similar provider payment programs in connection with the operation of the Mortgaged Property. (b) Without the prior written consent of Lender, which may be granted or withheld in Lender’s discretion, Borrower shall not, and shall not permit any management agent for the Mortgaged Property or any operator of the Mortgaged Property to, participate in Medicare or Medicaid, or any provider agreement under Medicare or Medicaid, or accept any resident whose ability to reside in the Mortgaged Property requires that Borrower, the Mortgaged Property or any management agent for the Mortgaged Property or any operator of the Mortgaged Property participate in Medicare, Medicaid or any similar provider program. (c) In addition to the Events of Default listed in Sections 22 and 5554, it also shall constitute an Event of Default if Borrower participates, or permits any management agent for the Mortgaged Property or operator of the Mortgaged Property to participate, in Medicare, Medicaid, or any similar or successor payment provider plan.”

Medicare and Medicaid. (a) Borrower represents and warrants that neither Borrower nor any management agent for the Mortgaged Property or any operator of the Mortgaged Property currently participates in any Medicaid programs, Medicare programs or any other third party payors’ programs or other similar provider payment programs in connection with the operation of the Mortgaged Property. (b) Without the prior written consent of Lender, which may be granted or withheld in Lender’s discretion, Borrower shall not, and shall not permit any management agent for the Mortgaged Property or any operator of the Mortgaged Property to, participate in Medicare or Medicaid, or any provider agreement under Medicare or Medicaid, or accept any resident whose ability to reside in the Mortgaged Property requires that Borrower, the Mortgaged Property or any management agent for the Mortgaged Property or any operator of the Mortgaged Property participate in Medicare, Medicaid or any similar provider program. (c) In addition to the Events of Default listed in Sections 22 and 5553, it also shall constitute an Event of Default if Borrower participates, or permits any management agent for the Mortgaged Property or operator of the Mortgaged Property to participate, in Medicare, Medicaid, or any similar or successor payment provider plan.”