RECITALS
1
EXHIBIT 10.0
FIRST AMENDMENT TO CREDIT AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as
of April 28, 1999, is entered into by and among EXTENDICARE HEALTH SERVICES,
INC., a Delaware corporation (the "Borrower"), each of the Persons identified as
a "Guarantor" on the signature pages hereto, each of the Persons identified as a
"Lender" on the signature pages hereto and NATIONSBANK, N. A., as Agent for the
Lenders (in such capacity, the "Agent").
RECITALS
A. The Borrower, the Guarantors, the Lenders and the Agent, are party
to that certain Credit Agreement dated as of November 26, 1997 (as previously
amended prior to the date hereof, the "Credit Agreement"). Unless otherwise
defined herein or the context otherwise requires, capitalized terms used in this
Amendment, including its preamble and recitals, have the meanings provided in
the Credit Agreement.
B. The Credit Parties have requested that the Required Lenders amend
the Credit Agreement.
C. The Required Lenders have agreed to amend the Credit Agreement as
set forth herein.
NOW, THEREFORE, in consideration of the agreements herein contained,
the parties hereto hereby agree as follows:
1. Amendments.
(a) The pricing grid contained in the definition of "Applicable
Percentage" appearing in Section 1.1 of the Credit Agreement is amended and
replaced with the pricing grid set forth below:
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APPLICABLE APPLICABLE
TOTAL PERCENTAGE PERCENTAGE APPLICABLE
PRICING LEVERAGE APPLICABLE PERCENTAGE FOR APPLICABLE PERCENTAGE FOR FOR STANDBY FOR TRADE PERCENTAGE
LEVEL RATIO EURODOLLAR LOANS BASE RATE LOANS LETTER OF LETTER OF FOR UNUSED
CREDIT FEE CREDIT FEE FEES
------------------------------------------------------------------------------------------------------------------------------
REVOLVING REVOLVING
LOANS, LOANS,
TRANCHE A TRANCHE A
TERM LOANS TRANCHE B TERM LOANS TRANCHE B
AND TRANCHE C TERM LOANS AND TRANCHE C TERM LOANS
TERM LOANS TERM LOANS
------------------------------------------------------------------------------------------------------------------------------
I < 3.0 to 1.0 0.75% 3.00% 0.50% 01.25% 0.75% 0.375% 0.25%
-
------------------------------------------------------------------------------------------------------------------------------
II < 3.5 to 1.0 1.00% 3.00% 0.75% 1.50% 1.00% 0.50% 0.25%
-
but
> 3.0 to 1.0
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III < 4.0 to 1.0 2.00% 3.00% 1.00% 1.75% 2.00% 1.00% 0.3125%
-
but
> 3.5 to 1.0
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IV < 4.5 to 1.0 2.25% 3.00% 1.25% 2.00% 2.25% 1.125% 0.3125%
-
but
> 4.0 to 1.0
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V < 5.0 to 1.0 2.25% 3.00% 1.50% 2.25% 2.25% 1.125% 0.375%
-
but
> 4.5 to 1.0
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VI > 5.0 to 1.00 2.50% 3.00% 1.75% 2.50% 2.50% 1.25% 0.50%
but < 6.0 to 1.0
-
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VII >6.0 to 1.0 2.75% 3.00% 2.00% 2.75% 2.75% 1.375% 0.50%
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(b) The definition of "Collateral Documents" appearing in Section 1.1
of the Credit Agreement is hereby amended and restated in its entirety to read
as follows:
"Collateral Documents" means a collective reference
to the Pledge Agreement, the Security Agreement, the Mortgage
Instruments and such other documents executed and delivered in
connection with the attachment and perfection of the Agent's
security interests and liens arising thereunder.
(c) The following new definitions are hereby added to Section 1.1 of
the Credit Agreement in the appropriate alphabetical order and shall read as
follows:
"Excluded Property" means, with respect to any
Consolidated Party, including any Person after the Closing
Date that is required to execute a Joinder Agreement as
contemplated by Section 7.12, any Property of such
Consolidated Party which, subject to the terms of Section 8.11
and Section 8.15, is subject to a Lien of the type described
in clause (vii) of the definition of "Permitted Liens" set
forth in Section 1.1 pursuant to documents which prohibit such
Consolidated Party from granting any other Liens in such
Property.
"Mortgage Instruments" shall have the meaning
assigned such term in Section 7.13(b).
"Mortgage Policies" shall have the meaning assigned
such term in Section 7.13(b).
"Mortgaged Properties" shall have the meaning
assigned such term in Section 7.13(b).
"Security Agreement" means that certain security
agreement executed in favor of the Agent by each of the Credit
Parties, as amended, modified, restated or supplemented from
time to time.
(d) A new sentence is hereby added to the end of Section 2.1(a) to read
as follows:
Notwithstanding anything to the contrary contained herein, so long as
the Total Leverage Ratio (as calculated in the officer's certificate
required to be delivered pursuant to Section 7.1(c) of the Credit
Agreement) is greater than or equal to 6.0 to 1.0, the Borrower shall
maintain at least $25,000,000 of undrawn availability under the
Revolving Loans.
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(e) Clauses (a), (b) and (c) of Section 7.11 of the Credit Agreement
are hereby amended and restated in their entireties to read as follows:
7.11 FINANCIAL COVENANTS.
(a) Fixed Charge Coverage Ratio. The Fixed Charge Coverage
Ratio, as of the last day of each fiscal quarter of the Consolidated
Parties set forth below, shall be greater than or equal to:
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Fiscal Year March 31 June 30 September 30 December 31
-------------------------------------------------------------------------------------------------------------
1999 0.90 to 1.00 0.90 to 1.00 0.95 to 1.00 1.00 to 1.00
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thereafter 1.00 to 1.00
-------------------------------------------------------------------------------------------------------------
(b) Senior Leverage Ratio. The Senior Leverage Ratio, as of
the last day of each fiscal quarter of the Consolidated Parties set
forth below, shall be less than or equal to:
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Fiscal Year March 31 June 30 September 30 December 31
-------------------------------------------------------------------------------------------------------------
1999 4.75 to 1.00 5.00 to 1.00 4.75 to 1.00 4.25 to 1.00
-------------------------------------------------------------------------------------------------------------
2000 4.25 to 1.00 4.00 to 1.00 3.75 to 1.00 3.75 to 1.00
-------------------------------------------------------------------------------------------------------------
2001 3.75 to 1.00 3.50 to 1.00 3.50 to 1.00 3.50 to 1.00
-------------------------------------------------------------------------------------------------------------
2002 3.50 to 1.00 3.50 to 1.00 3.50 to 1.00 3.00 to 1.00
-------------------------------------------------------------------------------------------------------------
thereafter 3.00 to 1.00
-------------------------------------------------------------------------------------------------------------
(c) Total Leverage Ratio. The Total Leverage Ratio, as of the
last day of each fiscal quarter of the Consolidated Parties set forth
below, shall be less than or equal to:
-------------------------------------------------------------------------------------------------------------
Fiscal Year March 31 June 30 September 30 December 31
-------------------------------------------------------------------------------------------------------------
1999 6.50 to 1.00 6.75 to 1.00 6.75 to 1.00 6.00 to 1.00
-------------------------------------------------------------------------------------------------------------
2000 6.00 to 1.00 5.75 to 1.00 5.50 to 1.00 5.25 to 1.00
-------------------------------------------------------------------------------------------------------------
2001 5.25 to 1.00 5.25 to 1.00 5.00 to 1.00 5.00 to 1.00
-------------------------------------------------------------------------------------------------------------
2002 5.00 to 1.00 4.75 to 1.00 4.75 to 1.00 4.50 to 1.00
-------------------------------------------------------------------------------------------------------------
2003 4.50 to 1.00 4.50 to 1.00 4.25 to 1.00 4.00 to 1.00
-------------------------------------------------------------------------------------------------------------
thereafter 4.00 to 1.00
-------------------------------------------------------------------------------------------------------------
(f) Section 7.13 of the Credit Agreement is hereby amended and restated
in its entirety to read as follows:
7.13 PLEDGED ASSETS.
(a) The Credit Parties will cause (i) 100% of the Capital
Stock in the Borrower and in each direct or indirect Subsidiary of the
Borrower to be subject at all
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4
times to a first priority, perfected Lien in favor of the Agent
pursuant to the terms and conditions of the Collateral Documents or
such other security documents as the Agent shall reasonably request and
(ii) all of the owned personal property located in the United States
other than Excluded Property of the Borrower and each direct or
indirect Subsidiary of the Borrower to be subject at all times to a
perfected Lien in favor of the Agent pursuant to the terms and
conditions of the Collateral Documents or such other security documents
as the Agent shall reasonably request.
(b) Except with respect to the Real Properties identified on
Schedule 7.13(c) hereto, the Credit Parties shall deliver to the Agent
(or, in the case of items relating to leased Mortgaged Property (as
defined below), will use commercially reasonable efforts to deliver to
the Agent):
(i) fully executed and notarized mortgages, deeds of
trust or deeds to secure debt (each, as the same may be
amended, modified, restated or supplemented from time to time,
a "Mortgage Instrument" and collectively the "Mortgage
Instruments") encumbering the fee interest and/or leasehold
interest of the Parent or any Credit Party in each Real
Property identified in Schedule 7.13(b) and hereafter acquired
(each a "Mortgaged Property" and collectively the "Mortgaged
Properties");
(ii) a title report obtained by the Credit Parties in
respect of each of the Mortgaged Properties;
(iii) in the case of each real property leasehold interest
of the Parent or any Credit Party constituting Mortgaged
Property, (a) such estoppel letters, consents and waivers from
the landlords on such real property as may be required by the
Agent, which estoppel letters shall be in the form and
substance reasonably satisfactory to the Agent and (b)
evidence that the applicable lease, a memorandum of lease with
respect thereto, or other evidence of such lease in form and
substance reasonably satisfactory to the Agent, has been or
will be recorded in all places to the extent necessary or
desirable, in the reasonable judgment of the Agent, so as to
enable the Mortgage Instrument encumbering such leasehold
interest to effectively create a valid and enforceable first
priority lien (subject to Permitted Liens) on such leasehold
interest in favor of the Agent (or such other Person as may be
required or desired under local law) for the benefit of
Lenders;
(iv) maps or plats of an as-built survey of the sites of
the real property covered by the Mortgage Instruments
certified to the Agent and the title insurance company issuing
the policy referred to in Section 7.13(b)(v) (the "Title
Insurance Company") in a manner reasonably satisfactory to
each of the Agent and the Title Insurance Company, dated a
date reasonably satisfactory to each of the Agent and the
Title Insurance Company by an independent professional
licensed land surveyor, which maps or plats and the surveys on
which they are based shall be
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sufficient to delete any standard printed survey exception
contained in the applicable title policy and be made in
accordance with the Minimum Standard Detail Requirements for
Land Title Surveys jointly established and adopted by the
American Land Title Association and the American Congress on
Surveying and Mapping in 1992, and, without limiting the
generality of the foregoing, there shall be surveyed and shown
on such maps, plats or surveys the following: (A) the
locations on such sites of all the buildings, structures and
other improvements and the established building setback lines;
(B) the lines of streets abutting the sites and width thereof;
(C) all access and other easements appurtenant to the sites
necessary to use the sites; (D) all roadways, paths,
driveways, easements, encroachments and overhanging
projections and similar encumbrances affecting the site,
whether recorded, apparent from a physical inspection of the
sites or otherwise known to the surveyor; (E) any
encroachments on any adjoining property by the building
structures and improvements on the sites; and (F) if the site
is described as being on a filed map, a legend relating the
survey to said map;
(v) ALTA mortgagee title insurance policies issued by a
title insurance company reasonably acceptable to the Agent
(the "Mortgage Policies"), in amounts reasonably acceptable to
the Agent with respect to any particular Mortgaged Property,
assuring the Agent that each of the Mortgage Instruments
creates a valid and enforceable first priority mortgage lien
on the applicable Mortgaged Property, free and clear of all
defects and encumbrances except Permitted Liens, which
Mortgage Policies shall be in form and substance reasonably
satisfactory to the Agent and shall provide for affirmative
insurance and such reinsurance as the Agent may reasonably
request, all of the foregoing in form and substance reasonably
satisfactory to the Agent;
(vi) evidence as to (A) whether any Mortgaged Property is
in an area designated by the Federal Emergency Management
Agency as having special flood or mud slide hazards (a "Flood
Hazard Property") and (B) if any Mortgaged Property is a Flood
Hazard Property, (1) whether the community in which such
Mortgaged Property is located is participating in the National
Flood Insurance Program, (2) the Parent or the applicable
Credit Party's written acknowledgment of receipt of written
notification from the Agent (a) as to the fact that such
Mortgaged Property is a Flood Hazard Property and (b) as to
whether the community in which each such Flood Hazard Property
is located is participating in the National Flood Insurance
Program and (3) copies of insurance policies or certificates
of insurance of the Consolidated Parties evidencing flood
insurance satisfactory to the Agent and naming the Agent as
sole loss payee on behalf of the Lenders; and
(vii) evidence satisfactory to the Agent that each of
the Mortgaged Properties, and the uses of the Mortgaged
Properties, are in compliance in all material respects with
all applicable laws, regulations and ordinances including
without limitation health and environmental protection laws,
erosion control
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6
ordinances, storm drainage control laws, doing business and/or
licensing laws, zoning laws (the evidence submitted as to
zoning should include the zoning designation made for each of
the Mortgaged Properties, the permitted uses of each such
Mortgaged Properties under such zoning designation and zoning
requirements as to parking, lot size, ingress, egress and
building setbacks) and laws regarding access and facilities
for disabled persons including, but not limited to, the
federal Architectural Barriers Act, the Fair Housing
Amendments Act of 1988, the Rehabilitation Act of 1973 and the
Americans with Disabilities Act of 1990.
(c) With respect to each Real Property identified on Schedule
7.13(c), which is owned by the Parent or the Credit Parties as of April
30, 2000 and which is not subject to a written contract for the sale
thereof, the Credit Parties shall deliver to the Agent the documents of
the types described in Section 7.13(b) with respect to each such Real
Property.
(g) Clause (d) appearing in Section 8.5 of the Credit Agreement is
hereby amended and restated in its entirety to read as follows:
(d) the aggregate net book value of all of the assets sold or
otherwise disposed of in all such transactions during any fiscal year
of the Consolidated Parties shall not exceed $60,000,000,
(h) A new Schedule 7.13(b) is hereby added to the Credit Agreement
which shall read as Schedule 7.13(b) attached hereto. Such Schedule 7.13(b)
shall contain a list of 120 Real Properties. On May 28, 1999, the Credit Parties
shall amend Schedule 7.13(b) by adding to such schedule all other Real
Properties which are not at that time listed on either Schedule 7.13(b) or
Schedule 7.13(c).
(i) On May 28, 1999, a new Schedule 7.13(c) will be added to the Credit
Agreement. Such Schedule 7.13(c) shall contain a list of up to 50 Real
Properties.
2. Restrictions on Permitted Acquisitions and Consolidated
Growth Capital Expenditures. Notwithstanding anything contained in the Credit
Agreement to the contrary, the Credit Parties will not permit the Parent or any
Consolidated Party to make any Permitted Acquisitions or make Consolidated
Growth Capital Expenditures until such time as the Total Leverage Ratio (as
calculated in the officer's certificate required to be delivered pursuant to
Section 7.1(c) of the Credit Agreement) is less than 6.0 to 1.0; provided,
however, the Parent and the Consolidated Parties can continue to make
Consolidated Capital Expenditures to complete certain existing facilities
identified on Exhibit A hereto.
3. Immediate Prepayment of Loans with Net Cash Proceeds
Received from Asset Dispositions. Notwithstanding anything contained in Section
3.3(b) and Section 8.5 of the Credit Agreement to the contrary and until such
time as the Total Leverage Ratio (as calculated in the officer's certificate
required to be delivered pursuant to Section 7.1(c) of the Credit Agreement) is
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less than 5.5 to 1.0, following the receipt of Net Cash Proceeds from any Asset
Disposition, the Credit Parties shall immediately and without regard to any
Application Period, apply such Net Cash Proceeds to the prepayment of the Loans
in accordance with Section 3.3(b)(ii).
4. Legal Opinion. On or before May 14, 1999, the Credit
Parties shall deliver to the Agent an opinion of legal counsel to the Credit
Parties in form and substance reasonably satisfactory to it.
5. Effective Date. This Amendment shall be and become
effective when all of the following conditions shall have been satisfied:
(a) The Agent shall have received executed counterparts (or
other evidence of execution, including facsimile signatures,
satisfactory to the Agent) of this Amendment, which collectively shall
have been duly executed on behalf of each of the Credit Parties and the
Required Lenders; and
(b) The Agent shall have received, for the account of each
Lender approving this Amendment on or before April 28, 1999, an
amendment fee equal to 25 basis points on such Lender's Commitments.
(c) The Agent shall have received, for its own account, a
structuring fee in an amount agreed by the Borrower and the Agent.
Notwithstanding anything contained in this Amendment or the other
Credit Documents to the contrary, at such time as this Amendment
becomes effective pursuant to this Paragraph 4, the Applicable
Percentage shall be based on Pricing Level VII until the next
Calculation Date occurring after the date of this Amendment.
6. Security Interests and Liens Required by the Amendments to Section
7.13.
(a) Notwithstanding anything to the contrary contained herein or in any
other Credit Document, the Credit Parties shall have until May 28, 1999 to
deliver to the Agent a perfected security interest in accounts receivable. At
the time the Credit Parties execute the Security Agreement, the Credit Parties
shall deliver to the Agent an opinion of legal counsel to the Credit Parties
with respect to the Security Agreement which shall be in form and substance
reasonably satisfactory to the Agent.
(b) Notwithstanding anything to the contrary contained herein or in any
other Credit Document, the Credit Parties shall have until August 31, 1999 or
such later date as the Agent reasonably determines to comply with the
requirements set forth in Section 7.13(b) with respect to each Real Property
identified on Schedule 7.13(b).
7. Construction. This Amendment is a Credit Document executed pursuant
to the Credit Agreement and shall (unless otherwise expressly indicated therein)
be construed, administered and applied in accordance with the terms and
provisions of the Credit Agreement.
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Any Credit Party's failure to comply with any of the terms or restrictions set
forth herein shall constitute an Event of Default pursuant to Section 9.1(d) of
the Credit Agreement.
8. References. At such time as this Amendment shall become effective
pursuant to the terms of paragraph B above, all references in the Credit
Documents to the "Credit Agreement" shall be deemed to refer to the Credit
Agreement as amended by this Amendment.
9. Representations and Warranties. Each Credit Party hereby represents
and warrants that (i) each Credit Party that is party to this Amendment: (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, (ii) the representations and warranties contained in Section 6 of the
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 (iii)
no Default or Event of Default exists under the Credit Agreement on and as of
the date hereof upon giving effect to this Amendment.
10. Acknowledgment. The Guarantors acknowledge and consent to all of
the terms and conditions of this Amendment and agree that this Amendment does
not operate to reduce or discharge the Guarantors' obligations under the Credit
Agreement (as amended by this Amendment) or the other Credit Documents. The
Guarantors further acknowledge and agree that the Guarantors have no claims,
counterclaims, offsets, or defenses to the Credit Documents and the performance
of the Guarantors' obligations thereunder or if the Guarantors did have any such
claims, counterclaims, offsets or defenses to the Credit Documents or any
transaction related to the Credit Documents, the same are hereby waived,
relinquished and released in consideration of the Lenders' execution and
delivery of this Amendment.
11. 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.
12. Binding Effect. This Amendment, the 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.
13. 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.
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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
of this Amendment to be duly executed and delivered as of the date first above
written.
BORROWER: EXTENDICARE HEALTH SERVICES, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
GUARANTORS: EXTENDICARE HOLDINGS, INC.,
a Wisconsin corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
EXTENDICARE HEALTH FACILITY
HOLDINGS, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
EXTENDICARE HEALTH FACILITIES, INC.,
a Wisconsin corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
COVENTRY CARE, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
[Signatures Continued.]
10
NORTHERN HEALTH FACILITIES, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
EXTENDICARE HOMES, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
UNITED PROFESSIONAL COMPANIES, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
THE PROGRESSIVE STEP CORPORATION,
a Wisconsin corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
EXTENDICARE OF INDIANA, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
UNITED REHABILITATION SERVICES, INC.,
a Wisconsin corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
[Signatures Continued.]
S-2
11
EDGEWOOD NURSING CENTER, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ELDER CREST, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
HAVEN CREST, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
MEADOW CREST, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
OAK HILL HOME OF REST AND CARE, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
EXTENDICARE GREAT TRAIL, INC.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
[Signatures Continued.]
S-3
▇▇
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ CONVALESCENT
CENTER, INC.,
a Washington corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
UNITED PROFESSIONAL SERVICES, INC.,
a Wisconsin corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ARBOR HEALTH CARE COMPANY,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ADULT SERVICES UNLIMITED, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ALTERNACARE PLUS ENTERPRISES, INC.,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ARBORS EAST, INC.,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
[Signatures Continued.]
S-4
13
ARBORS AT FT. ▇▇▇▇▇, INC.,
an Indiana corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
ARBORS AT TOLEDO, INC.,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
BAY GERIATRIC PHARMACY, INC.,
a Florida corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
THE DRUGGIST, INC.,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
HEALTH POCONOS, INC.,
a Pennsylvania corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
[Signatures Continued.]
S-5
14
HOME CARE PHARMACY, INC. OF
FLORIDA,
a Florida corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇▇▇▇▇▇▇▇ PROPERTIES, INC.,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
POLY-STAT COMPUTER
APPLICATIONS, INC.
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
POLY-STAT SUPPLY CORPORATION,
an Ohio corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
Q.D. PHARMACY, INC.,
a Michigan corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
AHC ACQUISITION CORP.,
a Delaware corporation
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-6
15
LENDERS: NATIONSBANK, N. A.,
individually in its capacity as a
Lender and in its capacity as Agent
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
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▇▇
▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-8
17
FIRSTAR BANK MILWAUKEE, N.A.
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-9
18
CREDIT LYONNAIS NEW YORK BRANCH
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-11
▇▇
▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-12
21
KEY CORPORATE CAPITAL INC.
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-13
22
LASALLE NATIONAL BANK
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (TEXAS), INC.
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
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24
FIRST NATIONAL BANK OF CHICAGO
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-16
25
BANK ONE, N.A.
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-17
26
BANK OF MONTREAL
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-18
▇▇
▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-19
28
THE FUJI BANK, LTD., CHICAGO BRANCH
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-20
29
U.S. BANK NATIONAL ASSOCIATION
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-21
30
BANK OF TOKYO-MITSUBISHI
TRUST COMPANY
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-22
31
COMERICA BANK
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇ ▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-24
33
▇▇▇ ▇▇▇▇▇▇ PRIME
RATE INCOME TRUST
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-25
34
THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA
By:
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Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ PRIME RATE TRUST
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-27
36
BANKBOSTON, N.A.
By:
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Name:
-----------------------------------
Title:
----------------------------------
S-28
37
▇▇▇▇▇▇▇ ▇▇▇▇▇ SENIOR FLOATING RATE
FUND, INC.
By:
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Name:
-----------------------------------
Title:
----------------------------------
S-29
38
▇▇▇▇▇▇▇ ▇▇▇▇▇ PRIME RATE PORTFOLIO
By: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Asset Management, LP, as
Investment Advisor
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ FUNDING LLC
By:
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Name:
-----------------------------------
Title:
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S-31
40
CRESCENT/MACH I PARTNERS, L.P.
By: TCW Asset Management Company,
its Investment Manager
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇ ▇▇▇▇▇▇▇▇-▇ LLC
By:
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Name:
-----------------------------------
Title:
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S-33
42
ROYALTON COMPANY
By: Pacific Investment Management Company,
as its Investment Advisor
By:
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Name:
-----------------------------------
Title:
----------------------------------
S-34
43
▇▇▇▇▇▇▇ NATIONAL LIFE INSURANCE
COMPANY
By: PPM America, Inc., as attorney-in-fact,
on behalf of ▇▇▇▇▇▇▇ National Life
Insurance Company
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-35
44
This page has been intentionally left blank.
S-36
45
THE ING CAPITAL SENIOR SECURED
HIGH INCOME FUND, L.P.
By:
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Name:
-----------------------------------
Title:
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S-37
46
SENIOR DEBT PORTFOLIO
By: By Boston Management and Research, as
Investment Advisor
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-38
47
▇▇▇▇▇ ▇▇▇▇▇ INSTITUTIONAL SENIOR
LOAN FUND
By: ▇▇▇▇▇ ▇▇▇▇▇ Management, as
Investment Advisor
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-39
48
CYPRESSTREE INVESTMENT PARTNERS I, LTD.
By: CypressTree Investment Management Company,
Inc., as Portfolio Manager
By:
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Name:
-----------------------------------
Title:
----------------------------------
S-40
49
▇▇▇▇ ▇▇▇▇▇▇▇ MUTUAL LIFE
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-41
50
▇▇▇▇ ▇▇▇▇▇▇▇ VARIABLE LIFE
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
▇-▇▇
▇▇
▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-43
52
CITY NATIONAL BANK
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-44
53
INDOSUEZ CAPITAL FUNDING III,
LIMITED
By: Indosuez Capital Luxembourg SA,
as Collateral Manager
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-45
54
▇▇▇ ▇▇▇▇▇▇ SENIOR
INCOME TRUST
By:
-------------------------------------
Name:
-----------------------------------
Title:
----------------------------------
S-46
55
EXHIBIT A
EXISTING FACILITIES
56
SCHEDULE 7.13(b)
MORTGAGED PROPERTIES