Common use of Use of Leased Property Clause in Contracts

Use of Leased Property. Tenant shall use and occupy the Leased Property exclusively for the Facility Uses specified for each Facility and for all lawful and licensed ancillary uses, and for no other purpose without the prior written consent of Landlord. Notwithstanding the foregoing, Landlord and Tenant acknowledge that due to Medicare reimbursement and regulatory changes, the Facility Uses as defined herein may not be the highest and best use of a Facility in the future. If Landlord and Tenant mutually agree using their reasonable business judgment that there is an alternative healthcare use for a Facility that reasonably can be expected to provide sustainable Net Operating Income in excess of the Net Operating Income provided by the current Facility Use, then Landlord and Tenant will mutually agree to an alternative Facility Use for that Facility. If Landlord and Tenant mutually agree to an alternative healthcare use for a Facility, the Master Lease will be amended, as appropriate, to reflect the alternative use. Tenant shall obtain and maintain all approvals, licenses, and consents needed to use and operate the Leased Property as herein permitted. Tenant shall deliver to Landlord complete copies of surveys, examinations, certification and licensure inspections, compliance certificates, and other similar reports issued to Tenant by any governmental agency within 10 days after Tenant’s receipt of each item.

Appears in 4 contracts

Samples: Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (LifeCare Holdings, Inc.), Master Lease Agreement (LifeCare Holdings, Inc.)

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