Operating License. Seller will operate the Community diligently, and only in the ordinary course of business and to maintain its operating license in good standing through the Closing. From and after the date hereof until the earlier of the Closing or the termination of this Agreement pursuant to the terms hereunder, neither Seller shall, except as consented to by Buyer (which consent shall not be unreasonably withheld, conditioned or delayed), apply for or obtain any additional operating license (or modify the scope of any existing operating license) for the provision of nursing, residential care facility for the elderly, assisted living, congregate care or other health care services at the Community (including any beds or units at the Community), except in the ordinary course of business.
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Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Griffin-American Healthcare REIT IV, Inc.), Purchase and Sale Agreement and Joint Escrow Instructions (Griffin-American Healthcare REIT IV, Inc.), Purchase and Sale Agreement and Joint Escrow Instructions (Griffin-American Healthcare REIT IV, Inc.)
Operating License. Seller will operate the Community diligently, and only in the ordinary course of business and to maintain its operating license in good standing through the Closing. From and after the date hereof until the earlier of the Closing or the termination of this Agreement pursuant to the terms hereunder, neither Seller shallshall not, except as consented to by Buyer (which consent shall not be unreasonably withheld, conditioned or delayed), apply for or obtain any additional operating license (or modify the scope of any existing operating license) for the provision of nursing, residential care facility for the elderly, assisted living, congregate care or other health care services at the Community (including any beds or units at the Community), except in the ordinary course of business.. 7.5.11
Appears in 1 contract
Samples: Purchase and Sale Agreement
Operating License. Seller will operate the Community diligently, and only in the ordinary course of business and to maintain its operating license in good standing through the Closing. From and after the date hereof until the earlier of the Closing or the termination of this Agreement pursuant to the terms hereunder, neither Seller shallshall not, except as consented to by Buyer (which consent shall not be unreasonably withheld, conditioned or delayed), apply for or obtain any additional operating license (or modify the scope of any existing operating license) for the provision of nursing, residential care facility for the elderly, assisted living, congregate care or other health care services at the Community (including any beds or units at the Community), except in the ordinary course of business.
Appears in 1 contract
