AGREEMENT OF MERGERMerger Agreement • February 28th, 1997 • Health & Retirement Properties Trust • Real estate investment trusts • Maryland
October 21, 1996 Kleinwort Benson Limited, as Agent Wells Fargo Bank, National Association, as Administrative Agent NatWest Bank N.A., as Co-Agent c/o Kleinwort Benson Limited 20 Fenchurch Street London EC3P 3DB ENGLAND Re: Third Amended and Restated...Revolving Loan Agreement • February 28th, 1997 • Health & Retirement Properties Trust • Real estate investment trusts
As you have been advised, Health and Retirement Properties Trust ("HRP"), the Borrower under the Third Amended and Restated Revolving Loan Agreement, dated as of March 15, 1996 (the "Loan Agreement"), issued US$240,000,000 aggregate principal amount of convertible subordinated debentures on October 7, 1996. The Debentures consisted of three series: US$70,000,000 aggregate principal amount of 7.5% Convertible Subordinated Debentures due 2003, Series A (the "Series A Debentures"); US$130,000,000 aggregate principal amount of 7.5% Convertible Subordinated Debentures due 2003, Series B (the "Series B Debentures"), and US$40,000,000 aggregate principal of 7.25% Convertible Subordinated Debentures, due 2001 (the "7.25% Debentures"). The Debentures are subordinate to debt of HRP incurred under the Loan Agreement.
