201406141 - Laserfiche WebLink

Browse

��14��141 Z1. UNIF�RM ��MMERCIAL ��DEILIENS. �peratar shall execute and de�iver an �perat�r Security Agreement (Form HUI�-92323-�R�F} in accordance with Program �b�igations. �peratvr shali exe�ute and deliver such deposit accaunt �ontrol agreements as may be required by Lender andlor HUD. �perat�r hereby authorizes each of the Lender and HUD ta file such UC� finan�ing statements, amendments and continuati�n statements as either of them may deem to be necessary ar appropriate in C�I].ri�Ctl�ri with the S�CLlrlty interests granted � pursuant to the �perator's Security Agreement. ExCept as pr��ided in this Se�tian Z 1, without the prior written approval of Lender and HUD, �perator sha�l not be permitted to grant any other liens on any �f the proper�y r�lated to the Proj ect. If the Proj ect includes ga�ernment receivables, �perat�r shai� be permitted ta pledge the Hea�thcare Facility's accounts receivable to an accounts receivable lender pursuant to AR Financing Documents c�ns�nted to by Lender and HUI]. In the event that Lender and HUD grant such appr�val, �i} the holder�s� of such ��en sha�l enter i�to an int�rcreditor agreement with Lender andlor HUD in such form and upon such terms as consented to by Lender and HUD, �ncluding any HUD-required rider, and (ii� �perator and BorraWer shal� agree to eomply with the terms require�i by Lender and HUD in conr�ection therew�th. �2. AC��UNTS RE�EIVABLE FINANCING. Na ac�ounts rece�vable or receipts from the Healthcare Facility may he pledged without prior written approval af Lender � and HUD af the terms of such f nan�ing and the doCuments evidencing and securing such financing. In the event that Lender and HUD grant such appro�al, �i� the ho�der�s} of such ��en shall enter int� an Intercreditor Agreem�nt with Lender andlor HIJD in such farm and upon such terms as �onsented to by Lender and HUD, and �ii} �perator and Borrower shall agree to comply w�th the terms required by Lender and HUI] in connection therewith. Until the Loan is paid in full, na modifications, extens��ns, amendments, �r renewals on different terms and�onditi�ns, to a Material Term, as defined beiow, af the a��unts rece��able �aan or an accounts recei�able Y related ��an document sha�� take effe�t without prior written consent af HUD and Lender. F�r purposes herein, "Material Term" shall mean any term of an accounts re�eivable loan nr in any document �videncing or secu.ring such fina.ncing that: �1} extends the maturity date of the �oan; ��} adds guarantors t� the loan; (3} releases guarantors from the �oan; (4� adds borrowers to th� l�an; �5} adds an interest reserve t� the �oan; ��} amends the interest rate payab�e nn the autstanding principal balance of the loan; �7� increases or decreases the princi�al amount of the laan; �S� adds callateral as additional security for the loan; andlor �9� amends ar ex ands the p type of�bligations secured by the Ioan. Ir� the event vf conflict between this Section ZZ and any HUD-approved Intercreditor Agreement, the HUD-appraved Intercreditor Agreement shall control. 23. N�TI�E. �a} All notices, demands a.r�d ather communieatinns ("Notice"} under or concerning this Agreement shall be in writing. A courtesy copy of a.ny Notice, not affecting the validity of � such Not�ce, given by �perator or HUD sha�l be sent simultaneously to Lend�r. Any Notice shal� be addressed to the intended recipients at their respective a�idresses set forth herein, and shall be deemed given �n the earliest t� occur of(1} the date When the Notice is rec�ived by the addressee; �2� the f rst or second Bus�ness Day after the Not�ce 15 delivered to a recognized overnight courier service, with arrangements made a,nd payment of charges for next or second Previous ver�ions vbsviete Page 15 of'I S ffl�m HUD-924GSA-�RCF�Rev. �81�3} Replaces HUD-9Z4GG-NHL