Common use of Control; Management Clause in Contracts

Control; Management. Except as permitted in Section 8.1, there shall be no Change in Control of any of the Borrowers or the Guarantor without the written consent of Agent. Each Borrower that, as Landlord, has entered into a Master Lease, shall not terminate or amend the applicable Master Lease in any material respect without Agent’s prior written approval, which approval may not be unreasonably withheld or conditioned. Borrowers and/or Operating Tenants, as applicable, shall hold and maintain all Primary Licenses.

Appears in 1 contract

Sources: Loan Agreement (CareTrust REIT, Inc.)

Control; Management. Except as permitted in Section 8.17.2, there shall be no Change change in Control the day-to-day control and management of any of the Borrowers Borrower, Guarantor or the Guarantor any Master Tenant without the written consent of Agent. Each Borrower that, as Landlord, has entered into a Master Lease, shall not terminate or amend the applicable Master Lease in any material respect without Agent’s prior written approval, which approval may not be unreasonably withheld or conditioned. Borrowers and/or Operating Tenants, as applicable, Master Tenants shall hold and maintain all Primary Licensesnecessary licenses, certifications and permits required by law.

Appears in 1 contract

Sources: Loan Agreement (Ensign Group, Inc)