Rent Deferral Agreement between Senior Housing Properties Trust and Five Star Senior Living Inc. (March 2019)
Senior Housing Properties Trust (SNH) and Five Star Senior Living Inc. (FVE) have agreed to defer FVE's payment of minimum rent due for February 2019 under their existing master lease agreements. The deferred payment is now due by March 31, 2019. FVE confirms that the master leases remain valid and that it is in compliance with all obligations as of the date of this agreement.
Exhibit 10.1
March 11, 2019
Five Star Senior Living Inc.
400 Centre Street
Newton, MA 02458
Ladies and Gentlemen:
Reference is made to those certain Amended and Restated Master Lease Agreements, Nos. 1-5 (the “Master Leases”), among certain subsidiaries of Senior Housing Properties Trust, as landlord (“SNH”), and certain subsidiaries of Five Star Senior Living Inc. (“FVE”), as tenant.
The purpose of this letter is to confirm that SNH has agreed to defer, until March 31, 2019, payment of the aggregate Minimum Rent (as defined in the Master Leases) due and payable by FVE to SNH under the Master Leases for February 2019.
By signing this letter, FVE acknowledges and agrees that the Master Leases are in full force and effect and FVE has complied with its obligations thereunder as of the date of this letter.
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| Very truly yours, |
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| /s/ Jennifer F. Francis |
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| Jennifer F. Francis |
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| President and Chief Operating Officer |
Acknowledged and agreed:
| Five Star Senior Living Inc. |
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| /s/ Katherine E. Potter |
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| Katherine E. Potter |
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| President and Chief Executive Officer |
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