Skilled Nursing Units definition
Examples of Skilled Nursing Units in a sentence
Borrower shall not and shall cause the Operator not to, without the prior written consent of the Lender, amend, modify or otherwise change the Licenses or Permits to add Skilled Nursing Units at any Mortgaged Property.
Notwithstanding the foregoing, Lender may agree with Borrower to amend the Licenses and Permits to add Skilled Nursing Units at a Mortgaged Property or to modify the Level of Care Diversity Requirement, if the addition of Skilled Nursing Units or the change in acuity level improves the Collateral Pool based on factors that are consistent with Lender’s Underwriting Requirements, are consistent with market demand and result in increased Net Operating Income or increased value of the Mortgaged Property.
The Health Center is the Community's on-site health care neighborhood, housing the Assisted Living Units, Dementia Care Assisted Living Units and the Skilled Nursing Units.
The Health Center includes 26 Skilled Nursing Units, including studio and companion (shared) units with 32 skilled nursing beds in our skilled nursing facility (“SNF”).
Borrower shall not and shall cause Property Operator not to, without the prior written consent of Lender, seek or cause the amendment, modification or other change to any License or Permit in any respect that would prohibit or adversely affect the ability to operate any Mortgaged Property as a Seniors Housing Facility or would add Skilled Nursing Units at any Mortgaged Property.