qualified continuing care facility
(4) Qualified continuing care facility (A) In general For purposes of this section, the term “qualified continuing care facility” means 1 or more facilities— (i) which are designed to provide services under continuing care contracts, and (ii) substantially all of the residents of which are covered by continuing care contracts. (B) Substantially all facilities must be owned or operated by borrower A facility shall not be treated as a qualified continuing care facility unless substantially all facilities which are used to provide services which are required to be provided under a continuing care contract are owned or operated by the borrower. (C) Nursing homes excluded The term “qualified continuing care facility” shall not include any facility which is of a type which is traditionally considered a nursing home.