Common use of Single Purpose Entity Provisions Clause in Contracts

Single Purpose Entity Provisions. (a) The sole purpose for which each Borrower is organized is to acquire, own, hold, maintain and operate its Facility, together with such other activities as may be necessary or advisable in connection with such limited purpose. No Borrower shall engage in any business unrelated to the foregoing purpose and shall not acquire any real property or own assets other than those in furtherance of the limited purposes of such Borrower.

Single Purpose Entity Provisions. (a) The sole purpose for which each Borrower is organized is to acquire, own, hold, maintain and operate its Facilitythe Property, together with such other activities as may be necessary or advisable in connection with such limited purpose. No Borrower shall not engage in any business business, and it shall have no purpose, unrelated to the foregoing purpose and shall not acquire any real property or own assets other than those in furtherance of the limited purposes of such Borrower.