Plan” means any employee pension benefit plan within the meaning of Section 3(2) of “ERISA ERISA (or related trust) that is subject to the requirements of Title IV of ERISA, Sections 430 or 431 of the Internal Revenue Code, or Sections 302, 303, or 304 of ERISA, which is maintained or contributed to by Borrower or its ERISA Affiliates. of Default” means the occurrence of any event listed in Section 14.01 (Events of Default) “Event of the Loan Agreement. to Representations and Warranties Schedule” means that certain Schedule 7 “Exceptions (Exceptions to Representations and Warranties Schedule) to the Loan Agreement. Operating Agreement” means, individually and collectively, any of an Operating “Facility Lease, Sublease, Management Agreement or any other agreement setting forth the responsibilities for the operation, management, maintenance or administration of the Mortgaged Property as a Seniors Housing Facility. Payment Date” has the meaning set forth in the Summary of Loan Terms. “First has the meaning set forth in the Summary of Loan Principal and Interest Payment Date” “First Terms, if applicable. means an interest rate per annum equal to the sum of the Investor Yield, the Rate” “Fixed Servicing Fee and the Guaranty Fee. means, in connection with a Conversion, selection of one (1) of Rate Option” “Fixed Borrower’s the following fixed rate options for the Mortgage Loan which shall be effective from and after the Conversion Effective Date: (a) seven (7) year term with a five (5) year yield maintenance period; (b) seven (7) year term with a six and one-half (6.5) year yield maintenance period; (c) ten (10) year term with a seven (7) year yield maintenance period; or (d) ten (10) year term with a nine and one-half (9.5) year yield maintenance period. has the meaning set forth in the Security Instrument. “Fixtures” Majeure” shall mean acts of God, acts of war, civil disturbance, governmental action “Force (including the revocation or refusal to grant licenses or permits, where such revocation or refusal is not due to the fault of Borrower), strikes, lockouts, fire, unavoidable casualties or any other causes beyond the reasonable control of Borrower (other than lack of financing), and of which Borrower shall have notified Lender in writing within ten (10) days after its occurrence.
“ERISA Plan” means any employee pension benefit plan within the meaning of Section 3(2) of ERISA (or related trust) that is subject to the requirements of Title IV of ERISA, Sections 430 or 431 of the Internal Revenue Code, or Sections 302, 303, or 304 of ERISA, which is maintained or contributed to by Borrower or its ERISA Affiliates. “Event of Default” means the occurrence of any event listed in Section 14.01 (Events of Default) of the Loan Agreement. “Exceptions to Representations and Warranties Schedule” means that certain Schedule 7 (Exceptions to Representations and Warranties Schedule) to the Loan Agreement. “Facility Operating Agreement” means, individually and collectively, any of an Operating Lease, Sublease, Management Agreement or any other agreement setting forth the responsibilities for the operation, management, maintenance or administration of the Mortgaged Property as a Seniors Housing Facility. “First Payment Date” has the meaning set forth in the Summary of Loan Terms. “First Principal and Interest Payment Date” has the meaning set forth in the Summary of Loan Terms, if applicable. “Fixed Rate” means an interest rate per annum equal to the sum of the Investor Yield, the Servicing Fee and the Guaranty Fee. “Fixed Rate Option” means, in connection with a Conversion, Borrower’s selection of one (1) of the following fixed rate options for the Mortgage Loan which shall be effective from and after the Conversion Effective Date: (a) seven (7) year term with a five (5) year yield maintenance period; (b) seven (7) year term with a six and one-half (6.5) year yield maintenance period; (c) ten (10) year term with a seven (7) year yield maintenance period; or (d) ten (10) year term with a nine and one-half (9.5) year yield maintenance period. “Fixtures” has the meaning set forth in the Security Instrument. “Force Majeure” shall mean acts of God, acts of war, civil disturbance, governmental action (including the revocation or refusal to grant licenses or permits, where such revocation or refusal is not due to the fault of Borrower), strikes, lockouts, fire, unavoidable casualties or any other causes beyond the reasonable control of Borrower (other than lack of financing), and of which Borrower shall have notified Lender in writing within ten (10) days after its occurrence.
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