FHA Lender Priority Collateral definition

FHA Lender Priority Collateral means any and all property (whether real, personal or mixed, tangible or intangible) in which FHA Lender and/or HUD is granted liens, encumbrances, security interests and other rights pursuant to any of the FHA-Insured Loan Documents, except for the AR Lender Priority Collateral, it being understood that FHA Lender and/or HUD has an “all assets” security interest on the assets of Operator including but not limited to (i) the skilled nursing facility licenses and any other healthcare or long term care licenses for the Facility, (ii) all Medicare and Medicaid/state/county provider agreements for the Facility, (iii) the certificates of need for the Facility, (iv) the Owner-Operator Agreement and (v) Operator’s furniture, fixtures, equipment, software and inventory directly related to such Facility.
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FHA Lender Priority Collateral means any and all property (whether real, personal or mixed, tangible or intangible) in which FHA Lender and/or HUD is granted liens, encumbrances, security interests and other rights pursuant to any of the FHA-Insured Loan Documents, except for the AR Lender Priority Collateral, it being understood that FHA Lender and/or HUD has an “all assets” security interest on the assets of Hospital including but not limited to, to the extent permitted by law, (i) the licenses necessary for the operation of the Facility, (ii) all Medicare and Medicaid/state/county provider agreements for the Facility, (iii) the certificates of need for the Facility, and (iv) Hospital’s furniture, fixtures, equipment, software and inventory directly related to such Facility. For purposes of clarity, “FHA Lender Priority Collateral” shall not include any Accounts arising from the delivery of goods and rendering of services at the Facility nor the proceeds thereof until the date on which both of the following have been satisfied: (a) AR Lender has Ceased Funding and (b) AR Lender has received proceeds of Accounts, in cash in an aggregate amount equal to the Cap Amount (or, if earlier, on the date on which the AR Loan Obligations have been Paid in Full).
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FHA Lender Priority Collateral means any and all property 150 (whether real, personal or mixed, tangible or intangible) in which FHA Lender and/or 151 HUD is granted liens, encumbrances, security interests and other rights pursuant to any of 152 the FHA-Insured Loan Documents, except for the AR Lender Priority Collateral, it being 153 understood that FHA Lender and/or HUD has an “all assets” security interest on the 154 assets of Operator including but not limited to (i) the skilled nursing facility licenses and 155 any other healthcare or long term care licenses for the Facility, (ii) all Medicare and 156 Medicaid/state/county provider agreements for the Facility, (iii) the certificates of need 157 for the Facility, (iv) the Owner-Operator Agreement and (v) Operator’s furniture, 158 fixtures, equipment, software and inventory directly related to such Facility.
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Examples of FHA Lender Priority Collateral in a sentence

  • FHA Lender, Owner and Operator agree, that, in the event AR Lender seeks to enforce any of its remedies under the AR Loan Documents, AR Lender may have reasonable access to the Facility for any inspection and copying of the books and records of Operator relating to the AR Lender Priority Collateral and the FHA Lender Priority Collateral, provided that AR Lender shall promptly repair any damage to the Facility caused by AR Lender or its agents resulting from such inspection and copying.

  • Nothing in this Section 2.5(a) shall require any release of the FHA Lender Priority Collateral.

  • AR Lender and FHA Lender have agreed upon AR Lender’s and FHA Lender’s respective rights in and to the AR Lender Priority Collateral and FHA Lender Priority Collateral which agreements and understandings are set forth below.

Related to FHA Lender Priority Collateral

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Borrower Collateral means all of Borrower’s now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Equity Collateral shall have the meaning set forth in Section 11.6 hereof.

  • Collateral has the meaning set forth in Section 2.

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.