Common use of Sub-Acute Units Clause in Contracts

Sub-Acute Units. No Borrower shall create or convert any portion of its existing facilities or units to Sub-Acute Units (defined below) without the prior written consent of Lender. A “Sub-Acute Unit” shall mean a dedicated specialty unit for individuals who require significantly more nursing hours (an average of four [4] or more hours per day) or therapy than required for individuals in the other units at the Individual Property. Any default under the provisions of this Section 10.02(g) shall be, without further notice or cure period, an Event of Default under the Documents.

Appears in 4 contracts

Samples: Loan Agreement (CNL Healthcare Properties, Inc.), Loan Agreement (CNL Healthcare Properties, Inc.), Loan Agreement (CNL Healthcare Properties, Inc.)

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