Common use of The Licenses Clause in Contracts

The Licenses. The licenses to operate the Facility (i) are and shall continue in full force and effect at all times throughout the term of this Agreement and are and shall be free from restrictions or known conflicts which would materially impair the use or operation of the Facility for its current use, and if any licenses become provisional, probationary, conditional or restricted in any way (collectively “Restrictions”), Borrower shall take or cause to be taken prompt action to correct such Restrictions; (ii) may not be, and have not been, and will not be transferred to any location other than the Real Estate; and (iii) have not been and will not be pledged as collateral security for any other loan or indebtedness. Borrower shall not do (nor suffer to be done) any of the following: (1) Rescind, withdraw, revoke, amend, modify, supplement, or otherwise alter the nature, tenor or scope of the licenses for the Facility without Agent’s prior written consent; (2) Amend or otherwise change the Facility’s authorized beds capacity and/or the number of beds approved by the regulators without Agent’s prior written consent; provided, that the Borrower may increase the number of beds at the Facility without the Agent’s consent but the Borrower will provide two (2) Business Days’ prior written notice to the Agent of such increase; or (3) Replace, assign or transfer all or any part of the Facility’s beds to another site or location without Agent’s prior written consent.