Common use of Change of Use Clause in Contracts

Change of Use. Alter or change the use of the Facility or enter into any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 6 contracts

Samples: Loan Agreement (Emeritus Corp\wa\), Loan Agreement (Emeritus Corp\wa\), Loan Agreement (Emeritus Corp\wa\)

AutoNDA by SimpleDocs

Change of Use. Alter or change the use of the Facility or enter into any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 3 contracts

Samples: Loan Agreement (Advocat Inc), Loan Agreement (Arv Assisted Living Inc), Loan Agreement (Advocat Inc)

Change of Use. Alter or change the use of the any Facility or enter into permit any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the a Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)

Change of Use. Alter or change the use of the Facility except as contemplated in connection with the Loan or enter into permit any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the FacilityFacility (excluding residency agreements), unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 2 contracts

Samples: Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp)

Change of Use. Alter or change the use of the Facility or enter into any management agreement for or lease of the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease management agreement or management agreementlease, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s sole discretion, thereto and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of LenderLender and a Security Agreement satisfactory to Lender from any lessee conforming to the requirements of Section 5.2 hereof.

Appears in 2 contracts

Samples: Loan Agreement (Balanced Care Corp), Loan Agreement (Balanced Care Corp)

Change of Use. Alter or change the use of the Facility or enter into any management agreement for the Facility other than the Management Agreement or or, except for the Master Leases to Licensees, enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Emeritus Corp\wa\), Loan Agreement (Emeritus Corp\wa\)

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement for the Facility agreement, other than the Management Agreement Agreement, or lease for the Facility or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)

Change of Use. Alter or change the use of the Facility or enter into any lease or management agreement for the Facility other than the Management Agreement or enter into any operating lease for leases and management agreements in place as of the Facilitydate of this Agreement, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such lessee or manager or lessee subordinating to all rights of Lender.

Appears in 2 contracts

Samples: Term Loan Agreement (Adcare Health Systems Inc), Term Loan Agreement (Adcare Health Systems Inc)

Change of Use. Alter With respect to any Facility, alter or change the use of the Facility or enter into permit any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.. 6.11

Appears in 1 contract

Samples: Revolving Loan Agreement (Sunrise Assisted Living Inc)

AutoNDA by SimpleDocs

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement for the Facility other than the Management Lease Agreement or enter into any operating lease for the FacilityFacility (other than the Lease Agreement), unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 1 contract

Samples: Loan Agreement (Emeritus Corp\wa\)

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 1 contract

Samples: Loan Agreement (American Retirement Corp)

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement for the Facility other than the Management Agreement or enter into or, except as contemplated in the Transaction Agreement, permit any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s written consent thereto, which consent may be withheld in Lender’s sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 1 contract

Samples: Loan Agreement (Sunrise Senior Living Inc)

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement or lease for the Facility other than the Management Agreement or enter into any operating lease for the Facility, unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 1 contract

Samples: Subordination and Attornment Agreement (Ensign Group, Inc)

Change of Use. Alter or change the use of the Facility or enter into permit any management agreement for the Facility other than the Management Agreement or enter into any operating lease for the FacilityFacility (excluding residency agreements), unless Borrower first notifies Lender and provides Lender a copy of the proposed lease agreement or management agreement, obtains Lender’s 's written consent thereto, which consent may be withheld in Lender’s 's sole discretion, and obtains and provides Lender with a subordination agreement in form satisfactory to Lender, as determined by Lender in its sole discretion, from such manager or lessee subordinating to all rights of Lender.

Appears in 1 contract

Samples: Loan Agreement (American Retirement Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!