SUBORDINATION AND STANDSTILL AGREEMENT September 26, 2016Subordination and Standstill Agreement • October 11th, 2016 • Adcare Health Systems, Inc • Services-skilled nursing care facilities • Illinois
ContractPromissory Note • October 11th, 2016 • Adcare Health Systems, Inc • Services-skilled nursing care facilities • Georgia
THIS PROMISSORY NOTE IS SUBORDINATED TO OBLIGATIONS OF THE MAKER (AS DEFINED HEREIN) UNDER A REVOLVING LOAN AND SECURITY AGREEMENT OF EVEN DATE HEREWITH BY AND AMONG THE MAKER AND OTHER PARTIES AS BORROWERS, THE LENDERS THEREUNDER, AND THE PRIVATEBANK AND TRUST COMPANY, AN ILLINOIS BANKING CORPORATION (“PRIVATEBANK”), AS ADMINISTRATIVE AGENT FOR SAID LENDERS (THE “OPERATOR LOAN AGREEMENT”), AND TO OBLIGATIONS OF THE MAKER UNDER DOCUMENTS EXECUTED BY THE MAKER IN CONNECTION WITH LOANS UNDER A TERM LOAN AND SECURITY AGREEMENT OF EVEN DATE HEREWITH BY AND AMONG THE BORROWERS NAMED THEREIN, THE LENDERS THEREUNDER, AND PRIVATEBANK, AS ADMINISTRATIVE AGENT FOR SAID LENDERS (THE “OWNER LOAN AGREEMENT”), ALL AS PROVIDED IN A SUBORDINATION AND STANDSTILL AGREEMENT OF EVEN DATE HEREWITH BY AND AMONG THE MAKER, PRIVATEBANK AS ADMINISTRATIVE AGENT UNDER THE OPERATOR LOAN AGREEMENT, AND PRIVATEBANK AS ADMINISTRATIVE AGENT UNDER THE OWNER LOAN AGREEMENT. THIS NOTE IS PERSONALLY GUARANTEED BY JOSEPH
