CREDIT AGREEMENT Dated as of December 2, 2005 among SUNRISE SENIOR LIVING, INC., and CERTAIN SUBSIDIARIES as Borrowers, THE SUBSIDIARIES OF THE BORROWER IDENTIFIED HEREIN, as Guarantors BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender...Credit Agreement • December 8th, 2005 • Sunrise Senior Living Inc • Services-nursing & personal care facilities • Virginia
Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Adjusted Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 7.2; provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section and such failure continues for ten (10) days after written notice thereof to the Company, then Pricing Level IV shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered. The Applicable Rate in effect from the Closing Date through the date a Compliance Certificate is required to be delivered pursuant to Section 7.2(a) for the fiscal quarter ending December 31, 2005 shall be determined based upon Pricing Level I.
