Alabama Healthcare License Sample Clauses

Alabama Healthcare License. Morningside of Alabama, L.P., a Delaware limited partnership, an Affiliate of the Borrower, hereby grants to the Collateral Agent, for the ratable benefit of the Secured Parties (subject as provided in Section 1.4 hereof), a security interest in (i) all of its right, title and interest in and to that certain Alabama State Board of Health license to operate Morningside of Decatur as an Assisted Living Facility at 0000 Xxxxx Xxxxxxx Xxxxx, XX, Xxxxxxx, XX 00000 (the “Healthcare License”) and (ii) all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and supporting obligations relating to the Healthcare License, to secure the Secured Obligations of each Grantor.
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