THIRD AMENDMENT AND CONSENT TO CREDIT AGREEMENT
THIRD
AMENDMENT AND CONSENT TO CREDIT AGREEMENT
THIS THIRD AMENDMENT AND CONSENT TO
CREDIT AGREEMENT (this “Amendment”), dated as
of February 8, 2008, is entered into by and among OHI ASSET, LLC, a Delaware
limited liability company, OHI
ASSET (ID), LLC, a Delaware limited liability company, OHI ASSET (LA), LLC, a
Delaware limited liability company, OHI ASSET (TX), LLC, a
Delaware limited liability company, OHI ASSET (CA), LLC, a
Delaware limited liability company, DELTA INVESTORS I, LLC, a
Maryland limited liability company, DELTA INVESTORS II, LLC, a
Maryland limited liability company and TEXAS LESSOR - STONEGATE, LP,
a Maryland limited partnership (each of the foregoing entities shall be
hereinafter referred to individually as a “Borrower” and
collectively as the “Borrowers”), the
Lenders (as defined below) and BANK OF AMERICA, N.A., as
Administrative Agent (in such capacity, the “Administrative
Agent”), Swing Line Lender and L/C Issuer.
RECITALS
WHEREAS, the Borrowers, the
lenders from time to time party thereto (the “Lenders”) and the
Administrative Agent, are party to that certain Credit Agreement dated as of
March 31, 2006, as amended by that certain First Amendment to Credit Agreement
dated as of June 30, 2006, as amended by that certain Second Amendment, Waiver
and Consent to Credit Agreement dated as of October 23, 2006 (as amended,
restated, supplemented or otherwise modified from time to time, the “Existing Credit
Agreement”);
WHEREAS, the Borrowers and
Omega Healthcare Investors, Inc. (the “Parent”) have
informed the Administrative Agent that Schedule 5.12 and
Schedule 5.13
to the Existing Credit Agreement were incorrect as of the Closing Date with
respect to the Facility Leases covering the Borrowing Base Assets known as the
Idaho Falls Care Center and the Twin Falls Care Center (collectively, the “Peak
Properties”);
WHEREAS, the Borrowers and the
Parent have also informed the Administrative Agent that the Parent is in the
process of amending and restating the Amended and Restated Master Lease
Agreement, made and entered into March 1, 2004 to be effective as of December 1,
2003 as amended by and among the Parent, Sun Healthcare Group, Inc. and its
Affiliates (“Sun”) and the
respective lessor and lessee entities identified on the signature page thereto
(the “Sun Master
Lease”) to, among other things, add approximately ten (10) additional
properties indirectly owned by the Parent and currently leased by Sun (the
“Additional Sun
Properties”) to the amended and restated Sun Master Lease (the “Amended and Restated Sun
Lease”);
WHEREAS, the Borrowers and the
Parent have further informed the Administrative Agent that the Borrowers intend
to (i) qualify approximately four (4) of the Additional Sun Properties (set
forth in Part 3 of this Amendment) as Borrowing Base Assets under the Existing
Credit Agreement (the “New Borrowing Base
Assets”) and (ii) thereafter, release two (2) existing Borrowing Base
Properties known as SunHealth Xxxxxx X. Xxxxxxx Rehab Hospital and Continental
Rehab Hospital currently subject to the Sun Master Lease (the “Rehab Properties”) as
Borrowing Base Properties;
WHEREAS, with respect to the
Parent’s desire to enter into the Amended and Restated Sun Lease, Section
7.08(b) provides that the “Borrowers shall not, without the prior written
consent of the Required Lenders enter into any material amendment or
modification … any Material Contract”, the Parent has requested that the Lenders
consent to the amendment and modifications and otherwise approve the Amended and
Restated Sun Lease (the “Sun Master Lease
Modification”);
WHEREAS, with respect to the
Parent’s desire to release the Rehab Properties, Section 7.12(a)(iii) provides
that the “the appraised value of the Borrowing Base Assets released … in any
fiscal year pursuant to this Section 7.12, shall
not exceed $25,000,000 in the aggregate and the appraised value of the Borrowing
Base Assets released … during the entire term hereof shall not, in any case …
exceed $75,000,000 in the aggregate” and as a result of the release of the
SunBridge – Humble, Texas and SunBridge – Katy, Texas, Borrowing Base Properties
on or about October, 2007, the Borrowers do not have the ability under Section
7.12(a)(iii) to also release the Rehab Properties, and as a result, the
Borrowers have requested that (i) the Lenders consent to the additional release
of the Rehab Properties, notwithstanding the limitation imposed by Section
7.12(a)(iii) (the “Rehab Properties
Release”) and (ii) amend Section 7.12(a)(iii) to amend the limitations
imposed by such section;
WHEREAS, the Parent has
requested, and the Lenders have agreed, to (i) consent to the Sun Master Lease
Modification, (ii) consent to the Rehab Properties Release and (iii) amend
certain provisions of the Existing Credit Agreement as set forth
hereinbelow.
NOW, THEREFORE, in
consideration of the premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:
PART
1
DEFINITIONS
SUBPART 1.1 Certain
Definitions. Unless otherwise defined herein or the context
otherwise requires, the following terms used in this Amendment, including its
preamble and recitals, have the following meanings:
“Amended Credit
Agreement” means the Existing Credit Agreement as amended
hereby.
|
“Amendment No. 3
Effective Date” is defined in Subpart
5.1.
|
SUBPART 1.2 Other
Definitions. Unless otherwise defined herein or the context
otherwise requires, terms used in this Amendment, including its preamble and
recitals, have the meanings provided in the Existing Credit
Agreement.
PART
2
CONSENT
TO SUN LEASE MODIFICATION AND REHAB PROPERTY RELEASE
In
connection with the Sun Master Lease Modification, the Lenders hereby consent to
and approve the Amended and Restated Sun Lease in the form attached hereto as
Exhibit
A.
Additionally,
in connection with the Rehab Property Release, the Lenders hereby consent to the
release of the Rehab Properties to the extent that the Borrowers shall comply
with each of the other requirements set forth in Section 7.12,
including, without limitation, delivery of the certificate(s) described in Section
7.12(a)(ii).
The
consents set forth in this Part 2 are limited to the extent described herein and
shall not be construed to be a consent to the modification of any other terms of
the Existing Credit Agreement or of the other Credit Documents, except as
required to implement the consents set forth in this Part 2.
PART
3
CONSENT
TO ADDITIONAL BORROWING BASE ASSETS
The
Borrowers have been working to qualify the following four (4) Real Property
Assets (collectively, the “Additional Borrowing Base
Assets”) as Borrowing Base Assets under the Existing Credit
Agreement:
No.
|
Property
Name
|
Operator
|
Beds/Unit
|
Occupancy
|
Structure
|
City/State
|
1.
|
Falmouth
Nursing & Rehab Center
|
Sun
|
120
|
84.20%
|
Lease
|
Falmouth,
MA
|
2.
|
Mashpee
Nursing & Rehab Center
|
Sun
|
98
|
89.8%
|
Lease
|
Mashpee,
MA
|
3.
|
Wakefield
Nursing & Rehab Center
|
Sun
|
149
|
69.8%
|
Lease
|
Wakefield,
MA
|
4.
|
Westfield
Nursing & Rehab Center
|
Sun
|
98
|
95.9%
|
Lease
|
Westfield,
MA
|
Section 7.12(a)(i) of
the Credit Agreement provides that the Borrowers may at any time include
additional Real Property Assets as Borrowing Base Assets so long as: (a) such
Real Property Assets satisfy the requirements set forth in the definition of
Borrowing Base Assets (including without limitation, delivery of each of the
Borrowing Base Asset Deliverables with respect thereto) and the (b) the
Administrative Agent and the Required Lenders have approved such additional Real
Property Assets as Borrowing Base Assets.
With
respect to each of the Additional Borrowing Base Assets, the Administrative
Agent and the Borrowers are in the process of receiving each of the items set
forth in the definition of Borrowing Base Asset Deliverables. The
Borrowers and the Administrative Agent anticipate the completion of these
requirements by February 15, 2008 and the relevant Borrowing Base Asset
Deliverables (such as appraisals, leases, financial information and
environmental reports) with respect to the Additional Borrowing Base Assets will
be posted to Intralinks for Lender review as they are received.
For
purposes of satisfying the consent requirements under the Credit Agreement,
(including, without limitation, those consent requirements set forth in the
definition of Borrowing Base Asset and in Section 7.12(a)(i)),
effective as of the date upon which the Administrative Agent has satisfactorily
received, reviewed and/or approved each of the items set forth in the definition
of Borrowing Base Asset Deliverables and as otherwise required by applicable
provisions of the Credit Agreement, the Lenders hereby consent to the inclusion
of the Additional Borrowing Base Assets as Borrowing Base Assets under the
Credit Agreement.
Notwithstanding
the foregoing, with respect to the proposed Additional Borrowing Base Assets,
since similar mortgages were filed in Massachusetts and legal opinions from
local counsel were received in connection with the closing of the Credit
Agreement on March 31, 2006 (and the title insurance to be received in
connection with the Additional Borrowing Base Assets will insure that such
mortgages are in a recordable form), the Lenders hereby consent to the
waiver of the requirement in clause (a) of the definition of Borrowing Base
Asset Deliverables which requires that the Lenders shall have received “a
related legal opinion from special local counsel to the Borrowers opining as to
the propriety of the form of such documents for recording in the applicable
jurisdiction and such other matters as may be required by the Administrative
Agent.”
The
consents set forth in this Part 3 are limited to the extent described herein and
shall not be construed to be a consent to the modification of any other terms of
the Existing Credit Agreement or of the other Credit Documents, except as
required to implement the consents set forth in this Part 3.
PART
4
AMENDMENTS TO EXISTING CREDIT
AGREEMENT
Effective on (and subject to the
occurrence of) the Amendment No. 3 Effective Date, the Existing Credit Agreement
is hereby amended in accordance with this Part 4.
SUBPART 4.1 Section 1.01 of the
Existing Credit Agreement is hereby amended to add the following new definitions
in appropriate alphabetical order:
“Rehab Properties”
means those certain Borrowing Base Assets as of the Third Amendment Effective
Date known as SunHealth Xxxxxx X. Xxxxxxx Rehab Hospital and Continental Rehab
Hospital.
“Third Amendment”
means the Third Amendment and Consent to Credit Agreement, dated as of February
8, 2008, among the Borrowers, the Lenders and the Administrative
Agent.
“Third Amendment Effective
Date” means February 1, 2008.
SUBPART 4.2 Section 7.12(a)(iii)
of the Existing Credit Agreement is hereby amended in its entirety to read as
follows:
(iii) Notwithstanding
anything herein to the contrary, other than with respect to the Rehab
Properties, following the Third Amendment Effective Date, the appraised value of
the Borrowing Base Assets released (whether or not substituted therefore) in any
fiscal year pursuant to this Section 7.12
shall not exceed $40,000,000 in the aggregate and the appraised value of the
Borrowing Base Assets released (whether or not substituted therefore) during the
entire term hereof shall not, in any case (and regardless of whether the
$40,000,000/year limitation is met during any given year), exceed $100,000,000
in the aggregate; provided that to the
extent the fair market value of the Rehab Properties exceeds $29,000,000 at the
time of release, such excess amount shall be included in the limitation set
forth in this Section
7.12(a)(iii)
SUBPART 4.3 Schedule 5.12, and
Schedule 5.13
of the Existing Credit Agreement are hereby amended in their entireties to read
as set forth on Schedule 5.12 and
Schedule 5.13
attached hereto.
SUBPART 4.4 Schedule 10.02 to the
Existing Credit Agreement is hereby amended to update the address of Borrowers’
counsel to the following:
Xxxxx
& XxXxxxx LLP
0000
Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx,
Xxx Xxxx 00000
Attention: Xxxx
X. Xxxxxx, Xx., Esq.
PART
5
CONDITIONS TO
EFFECTIVENESS
SUBPART 5.1 Amendment No. 3 Effective
Date. This Amendment shall be and become effective as of
February 1, 2008 (the “Amendment No. 3 Effective
Date”) when all of the conditions set forth in this Part 5 shall have
been satisfied.
SUBPART 5.2 Execution of Counterparts of
Amendment. The Administrative Agent shall have received
counterparts of this Amendment, which collectively shall have been duly executed
on behalf of (a) the Borrowers, (b) the Required Lenders and (c) the
Administrative Agent.
SUBPART 5.3 Execution of Guarantor
Consent. The Administrative Agent shall have received an
acknowledgement and consent from each of the Guarantors.
SUBPART 5.4 Amended and Restated SUN
SNDA. The Administrative Agent shall have received an Amended
and Restated Subordination, Non-Disturbance and Attornment Agreement from SUN
with respect to the Peak Properties and the Additional Borrowing Base Assets as
required by Section
6.16 of the Existing Credit Agreement.
SUBPART 5.5 Execution of Borrower
Joinder Agreement. The Administrative Agent shall have
received an executed Borrower Joinder Agreement from OHIMA, Inc.
SUBPART 5.6 Other
Items. The Administrative Agent shall have received such other
documents, agreements or information which may be reasonably requested by the
Administrative Agent.
PART
6
MISCELLANEOUS
SUBPART 6.1 Construction. This
Amendment is a Credit Document executed pursuant to the Existing Credit
Agreement and shall (unless otherwise expressly indicated therein) be construed,
administered and applied in accordance with the terms and provisions of the
Amended Credit Agreement.
SUBPART 6.2 Representations and
Warranties. Each Borrower hereby represents and warrants that
it: (a) has the requisite corporate power and authority to execute,
deliver and perform this Amendment, as applicable and (b) is duly authorized to,
and has been authorized by all necessary corporate action, to execute, deliver
and perform this Amendment, (c) after giving effect to this Amendment, the
representations and warranties contained in Section 6 of the Amended Credit
Agreement are true and correct in all material respects on and as of the date
hereof upon giving effect to this Amendment as though made on and as of such
date (except for those which expressly relate to an earlier date) and (d) no
Default or Event of Default exists under the Existing Credit Agreement on and as
of the date hereof upon giving effect to this Amendment.
SUBPART 6.3 Counterparts. This
Amendment may be executed by the parties hereto in several counterparts, each of
which shall be deemed to be an original and all of which shall constitute
together but one and the same agreement. Delivery of an executed
counterpart of a signature page of this Amendment by facsimile or other
electronic means shall be effective as delivery of a manually executed original
counterpart of this Amendment.
SUBPART 6.4 Binding
Effect. This Amendment, the Amended Credit Agreement and the
other Credit Documents embody the entire agreement between the parties and
supersede all prior agreements and understandings, if any, relating to the
subject matter hereof. These Credit Documents represent the final
agreement between the parties and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements of the parties. Except
as expressly modified and amended in this Amendment, all the terms, provisions
and conditions of the Credit Documents shall remain unchanged and shall continue
in full force and effect.
SUBPART 6.5 GOVERNING
LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
SUBPART 6.6 Severability. If
any provision of this Amendment is determined to be illegal, invalid or
unenforceable, such provision shall be fully severable and the remaining
provisions shall remain in full force and effect and shall be construed without
giving effect to the illegal, invalid or unenforceable provisions.
SUBPART 6.7 Affirmation. The
Credit Documents (and all covenants, terms, conditions and agreements therein),
shall remain in full force and effect, and are hereby ratified and confirmed in
all respects by each Borrower. Each Borrower covenants and agrees to
comply with all of the terms, covenants and conditions of the Existing Credit
Agreement, as otherwise waived, consented to and amended hereby, notwithstanding
any prior course of conduct, waivers, releases or other actions or inactions on
Lenders’ part which might otherwise constitute or be construed as a waiver of or
amendment to such terms, covenants and conditions.
SUBPART 6.8 No
Waiver. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided in this Amendment, operate as
a waiver of any right, power or remedy of Lenders, nor constitute a waiver of
any provision of any Credit Document or any other documents, instruments and
agreements executed or delivered in connection with any of the
foregoing. Except as otherwise provided for in this Amendment,
nothing herein is intended or shall be construed as a waiver of any existing
Defaults or Events of Default under the Credit Documents or any of Lenders’
rights and remedies in respect of such Defaults or Events of
Default.
SIGNATURE
PAGES FOLLOW
IN WITNESS WHEREOF, each of
the parties hereto has caused a counterpart of this Third Amendment and Consent
to Credit Agreement to be duly executed and delivered as of the date first above
written.
BORROWERS:
|
OHI
ASSET, LLC
|
|
OHI
ASSET (ID), LLC
|
|
OHI
ASSET (LA), LLC
|
|
OHI
ASSET (TX), LLC
|
|
OHI
ASSET (CA), LLC
|
|
DELTA
INVESTORS I, LLC
|
|
DELTA
INVESTORS II, LLC
|
|
By:
|
Omega
Healthcare Investors, Inc.,
|
|
the
Sole Member of each such Company
|
|
By:
|
/s/ Xxxxxx X. Xxxxx |
|
Name:
|
Xxxxxx
X. Xxxxx
|
|
Title:
|
Chief
Operating Officer
|
TEXAS
LESSOR - STONEGATE, LP
|
By:
|
Texas
Lessor – Stonegate GP, Inc.,
|
|
Its
General Partner
|
|
By:
|
/s/ Xxxxxx X. Xxxxx |
|
Name:
|
Xxxxxx
X. Xxxxx
|
|
Title:
|
Chief
Operating Officer
|
LENDERS:
|
BANK
OF AMERICA, N.A.,
|
|
as
Administrative Agent
|
|
By:/s/ Xxxxxxxx Xxxxxxxx |
|
Name: Xxxxxxxx Xxxxxxxx |
|
Title: Senior Vice President |
BANK OF
AMERICA, N.A., as L/C Issuer, Swing Line Lender and as a Lender
By: /s/ Xxxxxxxx
Xxxxxxxx
Name: Xxxxxxxx
Xxxxxxxx
Title: Senior
Vice
President
UBS LOAN
FINANCE LLC
as a
Lender
By: /s/ Xxxxxxx X.
Xxxxxx
Name: Xxxxxxx X.Xxxxxx
Title:
Director
By: /s/ Xxxx X.
Xxxxx
Name: Xxxx
X. Xxxxx
Title: Associate
Director
DEUTSCHE
BANK TRUST COMPANY AMERICAS, as a Lender
By: /s/ Xxxxx
Xxxxxx
Name: Xxxxx
Xxxxxx
Title: Director
By: /s/ Xxxxxx
Xxxxxxx
Name: Xxxxxx
Xxxxxxx
Title: Vice
President
GENERAL
ELECTRIC CAPITAL CORPORATION,
as a
Lender
By: /s/ Xxxxxxxx X.
Xxxxxx
Name: Xxxxxxxx
X.
Xxxxxx
Title: Duly
Authorized
Signatory
LASALLE
BANK, N.A.,
as a
Lender
By: /s/ Xxxxxxxx
Xxxxxxxx
Name: Xxxxxxxx
Xxxxxxxx
Title: Senior
vice
President
CITICORP
NORTH AMERICA, INC.,
as a
Lender
By: /s/ Xxxxxxx
Xxxxx
Name: Xxxxxxx
Xxxxx
Title: Vice-President
CONSENT
OF GUARANTORS
Each of
the undersigned Guarantors, as a guarantor under the Guaranty, dated as of March
31, 2006, as amended (the “Guaranty”), hereby
acknowledges and consents to the terms of the Third Amendment and Consent to
Credit Agreement (the “Amendment”) to which
this Consent of Guarantors is attached, and agrees that the Amendment does not
operate to reduce or discharge such Guarantor’s obligations under the Guaranty
or the other Credit Documents. Each Guarantor further confirms that
the Guaranty remains in full force and effect after giving effect thereto and
represents and warrants that there is no defense, counterclaim or offset of any
type or nature under the Guaranty.
Dated as
of February [__], 2008
PARENT:
|
OMEGA
HEALTHCARE INVESTORS, INC.,
|
|
a
Maryland Corporation
|
By:
|
/s/ Xxxxxx
X. Xxxxx
|
Name:
|
Xxxxxx
X. Xxxxx
|
Title:
|
Chief
Operating Officer
|
SUBSIDIARY
GUARANTORS:
|
ARIZONA
LESSOR – INFINIA, INC.
|
|
XXXXXXX
HEALTH CENTER, INC.
|
|
BAYSIDE
STREET II, INC.
|
|
CANTON
HEALTH CARE LAND, INC.
|
|
COLORADO
LESSOR – CONIFER, INC.
|
|
XXXXXX
HEALTH CENTER, INC.
|
|
XXXXX
HEALTH CARE CENTER, INC.
|
|
FLORIDA
LESSOR – EMERALD, INC.
|
|
FLORIDA
LESSOR – MEADOWVIEW, INC.
|
|
XXXXXXX
XXXXXX – BONTERRA/
|
|
PARKVIEW,
INC.
|
|
HANOVER
HOUSE, INC.
|
|
XXXXXX
I LAND, INC.
|
|
XXXXXX
II LAND, INC.
|
|
XXXXXX
III LAND, INC.
|
|
INDIANA
LESSOR – JEFFERSONVILLE, INC.
|
|
INDIANA
LESSOR – WELLINGTON
MANOR, INC.
|
|
LEATHERMAN
PARTNERSHIP 89-1, INC.
|
|
LEATHERMAN
PARTNERSHIP 89-2, INC.
|
|
LEATHERMAN
PARTNERSHIP 90-1, INC.
|
|
LONG
TERM CARE ASSOCIATES –
TEXAS, INC.
|
|
MERIDIAN
ARMS LAND, INC.
|
|
OHI
(CONNECTICUT), INC.
|
|
OHI
(FLORIDA), INC.
|
|
OHI
(ILLINOIS), INC.
|
|
OHI
(INDIANA), INC.
|
|
OHI
(IOWA), INC.
|
|
OHIMA,
INC.
|
|
ORANGE
VILLAGE CARE CENTER, INC.
|
|
PAVILLION
NORTH PARTNERS, INC.
|
|
PAVILLION
NURSING CENTER NORTH, INC.
|
|
ST.
MARY’S PROPERTIES, INC.
|
|
STERLING
ACQUISITION CORP.
|
|
THE
SUBURBAN PAVILION, INC.
|
|
TEXAS
LESSOR – STONEGATE, LIMITED, INC.
|
|
TEXAS
LESSOR – STONEGATE GP, INC.
|
|
WASHINGTON
LESSOR - SILVERDALE, INC.
|
By:
|
/s/ Xxxxxx
X. Xxxxx
|
Name:
|
Xxxxxx
X. Xxxxx
|
Title:
|
Chief
Operating Officer
|
COLONIAL
GARDENS, LLC
NRS
VENTURES, L.L.C.
OHI ASSET
(CO), LLC
OHI ASSET
(CT) LENDER, LLC
OHI ASSET
(FL), LLC
OHI ASSET
(IL), LLC
OHI ASSET
(OH) LENDER, LLC
OHI ASSET
(OH) NEW PHILADELPHIA, LLC
OHI ASSET
(PA), LLC
OHI ASSET
II (CA), LLC
OHI ASSET
II (OH), LLC
OHI ASSET
II (TX), LLC
OHI ASSET
ESSEX (OH), LLC
WILCARE,
LLC
|
By:
|
Omega
Healthcare Investors, Inc., as the Sole Member of each of the
Companies
|
By: /s/ Xxxxxx X.
Xxxxx
Name: Xxxxxx
X. Xxxxx
Title: Chief
Operating Officer
HOUSE OF
HANOVER, LTD.
|
By:
|
OHI
Asset (OH), LLC, as the
|
|
Sole
Member of the Company
|
|
By:
|
Omega
Healthcare Investors, Inc., as the Sole Member of the
Company
|
By: /s/ Xxxxxx X.
Xxxxx
Name: Xxxxxx
X. Xxxxx
Title: Chief
Operating Officer
PAVILLION
NORTH, LLP
|
By:
|
Pavillion
Nursing Center North, Inc. as its
|
|
General
Partner
|
By: /s/ Xxxxxx X.
Xxxxx
Name: Xxxxxx
X. Xxxxx
Title: Chief
Operating Officer
OHI ASSET
(PA) TRUST
OHI ASSET
II (PA) TRUST
OHI ASSET
III (PA) TRUST
|
By:
|
OHI
Asset (PA), LLC, as the
|
|
Sole
Trustee of the Trusts
|
|
By:
|
Omega
Healthcare Investors, Inc., as the Sole
Member
|
By: /s/ Xxxxxx X.
Xxxxx
Name: Xxxxxx
X. Xxxxx
Title: Chief
Operating Officer
EXHIBIT
A
AMENDED AND RESTATED SUN
LEASE
SEE
ATTACHED
Schedule
5.12
REAL PROPERTY ASSET
MATTERS
Part I –
Borrowing Base Assets
SEE
ATTACHED
Part II –
Other Real Property Assets
NONE
Part III
– Delinquent Tenants
NONE
Part IV –
Facility Leases
SEE
LIST ON SCHEDULE 5.13
Part V –
Material Subleases
NONE
Collateral
for the Bank of America Credit Facility
No.
|
No.
|
Property
Name
|
Operator
|
Beds/Unit
|
Omega’s
Structure
|
Address
|
City
|
State
|
Zip
|
The Ensign Group
|
|||||||||
1.
|
1.
|
Claremont
Care Center
|
Ensign
|
99
|
Lease
|
000
Xxxx Xxxxxxxx Xxxxxxxxx
|
Xxxxxx
|
XX
|
00000
|
2.
|
2.
|
Xxxxxx
Vista Nursing Center
|
Ensign
|
53
|
Lease
|
0000
00xx Xxxxxx
|
Xxx
Xxxxx
|
XX
|
00000
|
3.
|
3.
|
Vista
Xxxxx Specialized Care Center
|
Ensign
|
119
|
Lease
|
0000
Xxxxxxxx Xxxx
|
Xxxxx
|
XX
|
00000
|
Subtotal
|
271
|
||||||||
Nexion Health, Inc.
|
|||||||||
4.
|
1.
|
Xxxxxxxxx
Healthcare Center
|
Nexion
|
131
|
Lease
|
000
Xxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
5.
|
2.
|
Village
Creek Rehabilitation and Nursing Center
|
Nexion
|
120
|
Lease
|
000
Xxxxx Xxxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
6.
|
3.
|
Southwood
Nursing and Rehabilitation Center
|
Nexion
|
160
|
Lease
|
000
Xxxxxxxxx Xxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
7.
|
4.
|
Xxxxxx
X. Xxxxx Children’s Care Center
|
Nexion
|
120
|
Lease
|
0000
Xxxx Xxxxxx Xxxxxx
|
Xxxxxxxxxx
|
XX
|
00000
|
8.
|
5.
|
Claiborne
Healthcare Center
|
Nexion
|
86
|
Lease
|
0000
Xxxxxxxxx Xxxxxx
|
Xxxxxxxxxx
|
XX
|
00000
|
9.
|
6.
|
Xxxxxxxx
Healthcare Center
|
Nexion
|
124
|
Lease
|
000
X. Xxxxxxxxxx Xxxx
|
Xxxxxxxx
|
XX
|
00000
|
10.
|
7.
|
New
Iberia Manor South
|
Nexion
|
100
|
Lease
|
000
Xxxxxx Xxxxxx
|
Xxx
Xxxxxx
|
XX
|
00000
|
11.
|
8.
|
New
Iberia Manor North
|
Nexion
|
121
|
Lease
|
0000
Xxxx Xxxxxx
|
Xxx
Xxxxxx
|
XX
|
00000
|
12.
|
9.
|
Xxxxxx
Healthcare Center
|
Nexion
|
120
|
Lease
|
0000
Xxxx 0xx Xxxxxx
|
Xxxxxx
|
XX
|
00000
|
13.
|
10.
|
Lafayette
Healthcare Center
|
Nexion
|
60
|
Lease
|
000
Xxxxxx Xxxxxxxx Xxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
14.
|
11.
|
Many
Healthcare North
|
Nexion
|
128
|
Lease
|
000
Xxxxxxxxxxxx Xxxxxxx 0 Xxxx
|
Xxxx
|
XX
|
00000
|
15.
|
12.
|
Many
Healthcare South
|
Nexion
|
60
|
Lease
|
000
Xxxxxx Xxxxx Xxxx
|
Xxxx
|
XX
|
00000
|
16.
|
13.
|
Xxxxxxx
Healthcare Center
|
Nexion
|
134
|
Lease
|
0000
Xxxxxx Xxxx
|
Xxxxxxx
|
XX
|
00000
|
17.
|
14.
|
Meadowview
Healthcare Center
|
Nexion
|
230
|
Lease
|
000
Xxxxxxxxxx Xxxxx
|
Xxxxxx
|
XX
|
00000
|
18.
|
15.
|
Pierremont
Healthcare Center
|
Nexion
|
196
|
Lease
|
000
Xxxxxxxx Xxxx
|
Xxxxxxxxxx
|
XX
|
00000
|
19.
|
16.
|
Xxxxxxx
Healthcare Center
|
Nexion
|
94
|
Lease
|
000
Xxxx Xxxx Xxxxxx
|
Xxxxxxx
|
XX
|
00000
|
20.
|
17.
|
Thibodaux
Healthcare Center
|
Nexion
|
78
|
Lease
|
0000
XxXxxxxxx Xxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
21.
|
18.
|
Xxxxxx
Healthcare Center
|
Nexion
|
100
|
Lease
|
000
X. Xxxxx Xxxxxx
|
Xxxxxx
|
XX
|
00000
|
22.
|
19.
|
Midwestern
Healthcare Center
|
Nexion
|
121
|
Lease
|
000
Xxxxxxxxxx Xxxxxxx
|
Xxxxxxx
Xxxxx
|
XX
|
00000
|
Subtotal
|
2,283
|
||||||||
StoneGate SNF Properties,
LP
|
|||||||||
23.
|
1.
|
Colonial
Pines Healthcare Center
|
Stonegate
|
107
|
Lease
|
0000
Xxxx Xxxxxx Xxxx
|
Xxx
Xxxxxxxxx
|
XX
|
00000
|
24.
|
2.
|
Heritage
Xxxxx Xxxxxxx Xxxxxx
|
Xxxxxxxxx
|
00
|
Lease
|
000
Xxxx 00xx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
25.
|
3.
|
Pine
Grove Nursing Center
|
Stonegate
|
120
|
Lease
|
000
Xxxxx Xxxxx
|
Xxxxxx
|
XX
|
00000
|
26.
|
4.
|
Reunion
Plaza Senior Care and Rehabilitation Center
|
Stonegate
|
102
|
Lease
|
0000
Xxxxxxx Xxxx
|
Xxxxxxxxx
|
XX
|
00000
|
27.
|
5.
|
South
Place Nursing Center
|
Stonegate
|
120
|
Lease
|
000
Xxxxxx Xxxx
|
Xxxxxx
|
XX
|
00000
|
28.
|
6.
|
West
Place Nursing Center
|
Stonegate
|
120
|
Lease
|
0000
Xxxxx Xxxxxxx 00
|
Xxxxxx
|
XX
|
00000
|
Subtotal
|
664
|
||||||||
Sun Healthcare Group
|
|||||||||
29.
|
1.
|
SunBridge
Care and Rehabilitation of Alleghany
|
Sun
|
112
|
Lease
|
000
Xxxxx Xxxxxx
|
Xxxxxx
|
XX
|
00000
|
30.
|
2.
|
SunBridge
Care and Rehabilitation for Circleville
|
Sun
|
100
|
Lease
|
0000
Xxxxxxx Xxxxxx
|
Xxxxxxxxxxx
|
XX
|
00000
|
31.
|
3.
|
SunBridge
Care and Rehabilitation for Decatur
|
Sun
|
183
|
Lease
|
0000
00xx Xxxxxx XX
|
Xxxxxxx
|
XX
|
00000
|
32.
|
4.
|
SunBridge
Care and Rehabilitation for Dunbar
|
Sun
|
120
|
Lease
|
000
Xxxxxxxx Xxxx
|
Xxxxxx
|
XX
|
00000
|
33.
|
5.
|
SunBridge
at Xxxxx Xxxx
|
Sun
|
124
|
Lease
|
000
Xxxxx Xxxxxx Xxxx
|
Xxxxxx
|
XX
|
00000
|
34.
|
6.
|
SunBridge
Care and Rehabilitation for Emmett
|
Sun
|
40
|
Lease
|
000
Xxxx Xxxxx Xxxxxxxxx
|
Xxxxxx
|
XX
|
00000
|
35.
|
7.
|
SunBridge
Care and Rehabilitation - Homestead
|
Sun
|
102
|
Lease
|
0000
Xxxx Xxxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
36.
|
8.
|
SunBridge
Care and Rehabilitation for LaFollette
|
Sun
|
178
|
Lease
|
000
Xxxxx Xxxx
|
XxXxxxxxxx
|
XX
|
00000
|
37.
|
9.
|
Laurel
Park
|
Sun
|
43
|
Lease
|
0000
Xxxx Xxxxxx Xxxxxx
|
Xxxxxx
|
XX
|
00000
|
38.
|
10.
|
SunBridge
Care and Rehabilitation for Lexington
|
Sun
|
86
|
Lease
|
000
Xxxx Xxxxxxxx Xxxx
|
Xxxxxxxxx
|
XX
|
00000
|
39.
|
11.
|
SunBridge
Care and Rehabilitation for Xxxxxx
|
Sun
|
100
|
Lease
|
000
Xxxxx Xxx
|
Xxxxxx
|
XX
|
00000
|
40.
|
12.
|
SunBridge
Care & Rehabilitation for Maynardville
|
Sun
|
77
|
Lease
|
000
Xxxxxxxxxx Xxx
|
Xxxxxxxxxxxx
|
XX
|
00000
|
41.
|
13.
|
Meadowbrook
Manor
|
Sun
|
77
|
Lease
|
0000
Xxxx Xxxxxxxxx
|
Xxx
Xxxxxxx
|
XX
|
00000
|
42.
|
14.
|
SunBridge
Care and Rehabilitation for Milford
|
Sun
|
135
|
Lease
|
00
Xxxxxxxx Xxxxxxxx Xxxxx
|
Xxxxxxx
|
XX
|
00000
|
43.
|
15.
|
SunBridge
Care and Rehabilitation for Mount Olive
|
Sun
|
150
|
Lease
|
000
Xxxxx Xxxxxx Xxxx
|
Xxxxx
Xxxxx
|
XX
|
00000
|
44.
|
16.
|
SunBridge
Care and Rehabilitation for Muscle Shoals
|
Sun
|
90
|
Lease
|
000
Xxxxxxx Xxxxxx
|
Xxxxxx
Xxxxxx
|
XX
|
00000
|
45.
|
17.
|
Olive
Vista
|
Sun
|
120
|
Lease
|
0000
Xxxxx Xxxxx Xxxxxx
|
Xxxxxx
|
XX
|
00000
|
46.
|
18.
|
SunBridge
Care and Rehabilitation for Parkersburg
|
Sun
|
66
|
Lease
|
0000
Xxxxx Xxxx
|
Xxxxxxxxxxx
|
XX
|
00000
|
47.
|
19.
|
SunBridge
Pine Lodge Care and Rehabilitation
|
Sun
|
120
|
Lease
|
000
Xxxxxxxxx Xxxx
|
Xxxxxxx
|
XX
|
00000
|
48.
|
20.
|
SunBridge
Care and Rehabilitation for Xxxxxx
|
Sun
|
120
|
Lease
|
000
Xxxxxxx Xxxx
|
Xxxxxxxxx
|
XX
|
00000
|
49.
|
21.
|
SunBridge
Care and Rehabilitation for Salem
|
Sun
|
112
|
Lease
|
000
Xxxxx Xxxxxx
|
Xxxxx
|
XX
|
00000
|
50.
|
22.
|
Shandin
Hills Behavior Therapy Center
|
Sun
|
78
|
Lease
|
0000
Xxxxx 0xx Xxxxxx
|
Xxx
Xxxxxxxxxx
|
XX
|
00000
|
51.
|
23.
|
SunBridge
Care and Rehabilitation - Shoals
|
Sun
|
103
|
Lease
|
000
Xxxx Xxxxxxxx Xxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
52.
|
24.
|
Sierra
Vista
|
Sun
|
116
|
Lease
|
0000
Xxxx Xxxxxxxx Xxxxxx
|
Xxxxxxxx
|
XX
|
00000
|
53.
|
25.
|
SunBridge
Care and Rehabilitation for Xxxxx City
|
Sun
|
160
|
Lease
|
000
Xxxx Xxxxxxx Xxxxxx
|
Xxxxx
Xxxx
|
XX
|
00000
|
54.
|
26.
|
SunBridge
Care and Rehabilitation for the Triad
|
Sun
|
199
|
Lease
|
000
Xxxxx Xxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
55.
|
27.
|
SunBridge
Care and Rehabilitation - Tuscumbia
|
Sun
|
109
|
Lease
|
000
Xxxxxx Xxxx
|
Xxxxxxxxx
|
XX
|
00000
|
56.
|
28.
|
Whittier
Care and Rehabilitation
|
Sun
|
142
|
Lease
|
000
XX 00xx Xxxxxx
|
Xxxxxxx
|
XX
|
00000
|
57.
|
29.
|
Falmouth
Nursing & Rehab Center
|
Sun
|
120
|
Lease
|
000
Xxxxx Xxxx
|
Xxxxxxxx
|
XX
|
00000
|
58.
|
30.
|
Mashpee
Nursing & Rehab Center
|
Sun
|
98
|
Lease
|
000
Xxxxxxxx Xxxx, Xxx 000
|
Xxxxxxx
|
XX
|
00000
|
59.
|
31.
|
Wakefield
Nursing & Rehab Center
|
Sun
|
149
|
Lease
|
0
Xxxxxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
60.
|
32.
|
Westfield
Nursing & Rehab Center
|
Sun
|
98
|
Lease
|
00
Xxxx Xxxxxx Xxxxxx
|
Xxxxxxxxx
|
XX
|
00000
|
61.
|
33.
|
Idaho
Falls Care Center
|
Sun
|
108
|
Lease
|
0000
Xxxxxxxx Xxx
|
Xxxxx
Xxxxx
|
XX
|
00000
|
62.
|
34.
|
Twin
Falls Care Center
|
Sun
|
116
|
Lease
|
000
Xxxxxxxx Xxxxx
|
Xxxx
Xxxxx
|
XX
|
00000
|
63.
|
35.
|
Xxxxxx
X. Xxxxxxx Rehabilitation Hospital
|
Sun
|
60
|
Lease
|
0000
Xxxx 00xx Xxxxxx
|
Xxx
Xxxxxxxxxx
|
XX
|
00000
|
64.
|
36.
|
Continental
Rehabilitation Hospital of San Diego
|
Sun
|
110
|
Lease
|
000
Xxxxxxxxxx Xxxxxx
|
Xxx
Xxxxx
|
XX
|
00000
|
Subtotal
|
4,021
|
||||||||
Grand
Total
|
7,239
|
Schedule
5.13
MATERIAL CONTRACTS;
CONTRACTS SUBJECT TO
ASSIGNMENT OF CLAIMS
ACT
1. Second
Amended and Restated Master Lease Agreement, entered into as of February 1,
2008, by and among (a) the lessor entities identified on the signature page
thereto, as Lessor, (b) the lessee entities listed on the signature page
thereto, as Lessee, (c) Omega Healthcare Investors, Inc., and (d) the guarantor
entities identified on the signature page thereto, as guarantors.
2. Master
Lease, dated as of Xxxxxxxxx 00, 0000, xxxxxxx XXX Xxxxx (XX), LLC, as Lessor,
and Permunitum LLC, as Lessee.
3. Amended
and Restated Master Lease, dated as of Xxxx 0, 0000, xxxxxxx XXX Xxxxx (XX),
LLC, as Lessor, and Nexion Health of OHI, Inc., as Lessee.
4. Master
Lease, dated as of November 1, 2001, between Bayside Street, Inc., as Lessor,
and Stonegate SNF Properties, LP, as Lessee.