EX-101 INSTANCE DOCUMENT

EX-10.1 2 c06706exv10w1.htm EXHIBIT 10.1 Exhibit 10.1
Exhibit 10.1
FOURTH AMENDMENT TO
CREDIT AND GUARANTY AGREEMENT
Dated as of October 12, 2010
among
VENTAS REALTY, LIMITED PARTNERSHIP
AND THE ADDITIONAL BORROWERS LISTED HEREIN,
as Borrower,
THE GUARANTORS REFERRED TO HEREIN,
THE LENDERS REFERRED TO HEREIN
and
BANK OF AMERICA, N.A.,
as Administrative Agent, Issuing Bank and Swingline Lender
CALYON NEW YORK BRANCH
and
CITICORP NORTH AMERICA, INC.,
as Co-Syndication Agents
UBS SECURITIES LLC,
as Documentation Agent
BANC OF AMERICA SECURITIES LLC
and
CALYON NEW YORK BRANCH,
as Joint Lead Arrangers and Joint Book Managers

 

 


 

FOURTH AMENDMENT
THIS FOURTH AMENDMENT dated as of October 12, 2010 (this “Amendment”) to that certain Credit and Guaranty Agreement referenced below is by and among VENTAS REALTY, LIMITED PARTNERSHIP, a Delaware limited partnership (the “Parent Borrower”), SZR US INVESTMENTS, INC., VENTAS SSL HOLDINGS, INC., EC LEBANON REALTY, LLC, EC HAMILTON PLACE REALTY, LLC, KINGSPORT NOMINEE LP, KNOXVILLE NOMINEE LP and HENDERSONVILLE NOMINEE LP in their capacities as additional borrowers (collectively, the “Additional Borrowers”, and together with the Parent Borrower, the “Borrower”), each Person identified on the signature pages hereto as a Guarantor (collectively, the “Guarantors”), the lenders identified on the signature pages hereto (the “Lenders”) and BANK OF AMERICA, N.A., as Administrative Agent.
W I T N E S S E T H
WHEREAS, a revolving credit facility was established in favor of the Borrower pursuant to the terms of that certain Credit and Guaranty Agreement, dated as of April 26, 2006, by and among the Parent Borrower, the Guarantors, the Lenders, and the Administrative Agent, as modified by that certain Modification Agreement, dated as of March 30, 2007 and as amended by that certain First Amendment dated as of July 27, 2007, that certain Second Amendment dated as of March 13, 2008 and that certain Third Amendment dated as of March 31, 2009 (as so amended and modified, the “Existing Credit Agreement”);
WHEREAS, the Parent Borrower has requested to amend the Existing Credit Agreement to, among other changes, release those Additional Borrowers and Guarantors identified on Schedule 1 to this Amendment (collectively, the “Released Credit Parties”) from their obligations under the Existing Credit Agreement;
WHEREAS, the requested amendments require the consent of the Lenders; and
WHEREAS, the Lenders have agreed to the requested amendments on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
PART 1
DEFINITIONS
SUBPART 1.1 Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Amendment, including its preamble and recitals, have the meanings provided in the Existing Credit Agreement.

 

 


 

PART 2
AMENDMENTS TO EXISTING CREDIT AGREEMENT
Effective on (and subject to the occurrence of) the Fourth Amendment Effective Date (as defined in Subpart 4.1), the Existing Credit Agreement is hereby amended in accordance with this Part 2.
SUBPART 2.1 Amendments to Section 1.1.
(a) The definition of “Interest Rate Protection Agreement” set forth in Section 1.1 of the Existing Credit Agreement is hereby deleted in its entirety and replaced with the following:
Interest Rate Protection Agreement” shall mean any interest rate swap agreement, Currency Agreement, interest rate cap agreement, synthetic cap, collar or floor or other financial agreement or arrangement designed to protect any member of the Consolidated Group against fluctuations in interest rates or to reduce the effect of any such fluctuations.
(b) The definition of “UAP Property” set forth in Section 1.1 of the Existing Credit Agreement is hereby amended by deleting clause (g) thereof in its entirety and replacing it with the following:
(g) that is owned or leased by a member of the Consolidated Group; provided, however, for purposes of this subclause (g) (and for purposes of determining Consolidated UAP Property Value), at no time shall more than twenty percent (20%) of the Consolidated UAP Property Value be attributable to UAP Properties located outside of the United States.
SUBPART 2.2 Amendments to Section 6.12. Section 6.12 of the Existing Credit Agreement is hereby deleted in its entirety and replaced with the following:
6.12 [Intentionally Omitted].
SUBPART 2.3 Amendments to Section 7.3. Section 7.3 of the Existing Credit Agreement is hereby amended by deleting clause (b) thereof in its entirety and replacing it with the following:
(b) other Indebtedness; provided, that (i) immediately after giving effect to the incurrence or assumption thereof on a Pro Forma Basis, the Consolidated Group shall be in compliance with the terms of this Credit Agreement, including the financial covenants hereunder and (ii) no Subsidiary may incur Indebtedness consisting of unsecured guarantee obligations with respect to any senior unsecured Indebtedness of the Parent Borrower (other than the Parent Borrower’s 9% Senior Notes due 2012) in an aggregate amount in excess of $25,000,000 (the “Other Guaranteed Indebtedness”), unless such Subsidiary also becomes a Guarantor of the Indebtedness under the Fundamental Documents by executing and delivering to the Administrative Agent a joinder agreement and such other documentation as the Administrative Agent may reasonably require (including, without limitation, legal opinions), in each case, in form and substance reasonably satisfactory to the Administrative Agent (provided, that in the event such Subsidiary shall be released for any reason from its obligations with respect to the Other Guaranteed Indebtedness it shall automatically be released from its obligations under such joinder and other documentation); and

 

 


 

PART 3
RELEASE OF CERTAIN CREDIT PARTIES
SUBPART 3.1. Release of Certain Credit Parties. The Administrative Agent and each of the Lenders hereby release and forever discharge each of the Released Credit Parties from all their obligations and liabilities under the Fundamental Documents and from all claims and causes of action of any type or nature whatsoever, known or unknown, which the Administrative Agent or the Lenders ever had, now have, or ever could have against such Released Credit Parties that specifically relate, directly or indirectly, to the Fundamental Documents.
SUBPART 3.2. Release of Claims Against Agent and Lenders. In consideration for the release by the Lenders in Subpart 3.1, each of the Released Credit Parties hereby releases and forever discharges the Administrative Agent, Issuing Bank, Swingline Lender, each Lender, and their respective officers and agents from all claims and causes of action of any type or nature whatsoever, known or unknown, which have arisen at any time before the date that this Amendment is fully executed, and which have anything to do with its obligations arising under the Fundamental Documents.
SUBPART 3.3. Claims Not Released. Nothing contained in this Amendment constitutes a general release, and this Amendment is neither intended by the Lenders to release, nor shall it operate to release (1) the indebtedness, obligations and liabilities owing by, or any claims or causes of action that the Lenders may have against, any Credit Party not specifically released pursuant to Subpart 3.1 or (2) any other claims that the Administrative Agent, Issuing Bank, Swingline Lender or any other Lender may have against any Released Credit Party or any other Credit Party with respect to any other transactions, loans, or other relationships unrelated to the Fundamental Documents.
PART 4
CONDITIONS TO EFFECTIVENESS
SUBPART 4.1 Fourth Amendment Effective Date. This Amendment shall be and become effective as of the date hereof (the “Fourth Amendment Effective Date”) when all of the following conditions shall have been satisfied:
(a) Execution of Counterparts of Amendment. The Administrative Agent shall have received counterparts of this Amendment, which collectively shall have been duly executed on behalf of each of the Credit Parties, the Lenders and the Administrative Agent.
(b) Release of Credit Parties From Bond Indentures. The Administrative Agent shall have received from the Parent Borrower evidence in form and substance satisfactory to the Administrative Agent in its reasonable discretion that the Released Credit Parties have been released from their obligations under or with respect to the indentures governing Parent Borrower’s (i) 65/8% Senior Notes due 2014, (ii) 61/2% Senior Notes due 2016, and (iii) 63/4% Senior Notes due 2017, and Ventas’s 37/8% Convertible Senior Notes due 2011, which may include letters from S&P and Moody’s delivered to the trustee in connection with such release.
(c) Execution of Second Amendment. The Administrative Agent shall have received evidence of the execution, delivery and effectiveness of that certain Second Amendment to Credit and Guaranty Agreement dated as of the date hereof by and among the Parent Borrower, Ventas SSL Ontario II, Inc., Ventas SSL Ontario III, Inc., Ventas, Inc. and certain subsidiaries of Ventas, Inc. and the lenders party thereto, amending that certain Credit and Guaranty Agreement, dated as of March 13, 2008, as amended.

 

 


 

(d) Fees and Expenses. The Administrative Agent and the Lenders shall have received from the Parent Borrower all reasonable out-of-pocket costs and expenses incurred by the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including without limitation, the reasonable fees and expenses of Moore & Van Allen PLLC, special counsel to the Administrative Agent.
PART 5
MISCELLANEOUS
SUBPART 5.1. Representations and Warranties. The Credit Parties affirm that, immediately before and immediately after giving effect to this Amendment, the representations and warranties set forth in the Existing Credit Agreement and the other Fundamental Documents are true and correct in all material respects as of the date hereof (except those which expressly relate to an earlier period or date).
SUBPART 5.2 Guarantor Acknowledgment. Each Guarantor not released pursuant to this Amendment, if any, hereby (a) acknowledges and consents to all of the terms and conditions of this Amendment and (b) reaffirms that, jointly and severally together with the other Guarantors, it guarantees the prompt payment and performance of their obligations as provided in Article IX of the Existing Credit Agreement.
SUBPART 5.3 Consent to Subsidiary Liquidation. The Administrative Agent and each of the Lenders hereby approves of and consents to the liquidation of Ventas Cooperatief U.A., an indirect wholly owned subsidiary of Ventas.
SUBPART 5.4 References in Other Credit Documents. On and after the Fourth Amendment Effective Date, all references to the Existing Credit Agreement in each of the Fundamental Documents shall mean the Existing Credit Agreement as amended by this Amendment. Except as specifically amended hereby, the Existing Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.
SUBPART 5.5 Counterparts/Telecopy. This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart. Delivery by any party hereto of an executed counterpart of this Amendment by facsimile or other electronic means shall be effective as such party’s original executed counterpart and shall constitute a representation that such party’s original executed counterpart will be delivered upon request by the Administrative Agent.
SUBPART 5.6 Governing Law. This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of New York applicable to agreements made and to be performed entirely within such state.
[remainder of page intentionally left blank]

 

 


 

IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the day and the year first above written.
                     
PARENT BORROWER:   VENTAS REALTY, LIMITED PARTNERSHIP    
 
                   
        By:   Ventas, Inc., its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President,
Chief Administrative Officer, General Counsel and
Corporate Secretary
   
         
ADDITIONAL BORROWERS:   SZR US INVESTMENTS, INC.
VENTAS SSL HOLDINGS, INC.
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President and Associate Secretary   
 
  EC HAMILTON PLACE REALTY, LLC
EC LEBANON REALTY, LLC
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
                     
    KINGSPORT NOMINEE LP    
 
                   
        By:   Kingsport Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    KNOXVILLE NOMINEE LP    
 
                   
        By:   Knoxville Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    

 

 


 

                     
    HENDERSONVILLE NOMINEE LP    
 
                   
        By:   Hendersonville Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
         
GUARANTORS:   VENTAS, INC.
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary   
         
  VENTAS CAPITAL CORPORATION
VENTAS HEALTHCARE PROPERTIES, INC.
VENTAS FRAMINGHAM, LLC
VCC HEALTHCARE FUND, LLC
VENTAS EH HOLDINGS, LLC
VENTAS PROVIDENT, LLC
VENTAS CARROLL MOB, LLC
VENTAS MO HOLDINGS, LLC
VENTAS NEXCORE HOLDINGS, LLC
VENTAS BROADWAY MOB, LLC
VENTAS CASPER HOLDINGS, LLC
VENTAS GRANTOR TRUST #2
VENTAS GRANTOR TRUST #1
VENTAS SSL, INC.
VENTAS SSL HOLDINGS, LLC
VENTAS REIT US HOLDINGS INC.
SZR US UPREIT THREE, LLC
SZR SCOTTSDALE, LLC
VENTAS WESTERN HOLDINGS, LLC
VTR DOB III MOB, LLC
VTR EBERLE MOB, LLC
VTR AVISTA MOB, LLC
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President and Associate
Secretary 
 

 

 


 

                     
    VENTAS LP REALTY, L.L.C.    
 
                   
        By:   Ventas, Inc., its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary    
         
  VENTAS TRS, LLC
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President   
 
  ELDERTRUST
ET CAPITAL CORP.
ET SUB-LOPATCONG, L.L.C.
ET PENNSBURG FINANCE, L.L.C.
ET SUB-SMOB, L.L.C.
ET WAYNE FINANCE, L.L.C.
ET BELVEDERE FINANCE, L.L.C.
ET POBI FINANCE, L.L.C.
ET DCMH FINANCE, L.L.C.
 
 
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Associate Secretary   
                     
    ET SUB-BERKSHIRE LIMITED PARTNERSHIP    
 
                   
        By:   ET Berkshire, LLC, its General Partner    
 
                   
        By:   ElderTrust, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    

 

 


 

                     
    ET BERKSHIRE, LLC
    ET SUB-HERITAGE WOODS, L.L.C.    
    ET GENPAR, L.L.C.    
    ET LEHIGH, LLC    
    ET SANATOGA, LLC    
 
                   
        By:   ElderTrust, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    
 
                   
    ET SUB-HIGHGATE, L.P.    
    ET SUB-WOODBRIDGE, L.P.    
 
                   
        By:   ET GENPAR, L.L.C., its General Partner    
        By:   ElderTrust, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    
 
                   
    ET SUB-LEHIGH LIMITED PARTNERSHIP    
 
                   
        By:   ET Lehigh, LLC, its General Partner    
        By:   ElderTrust, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    
 
                   
    ET SUB-PENNSBURG MANOR LIMITED PARTNERSHIP, L.L.P.    
 
                   
        By:   ET Pennsburg Finance, L.L.C., its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    

 

 


 

                     
    ET SUB-SANATOGA LIMITED PARTNERSHIP
 
                   
        By:   ET Sanatoga, LLC, its General Partner    
        By:   ElderTrust, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    
 
                   
    ET SUB-WAYNE I LIMITED PARTNERSHIP, L.L.P.    
 
                   
        By:   ET Wayne Finance, L.L.C., its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Associate Secretary    
 
                   
    PSLT GP, LLC    
 
                   
        By:   Ventas Provident, LLC, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    PSLT OP, L.P.    
 
                   
        By:   PSLT GP, LLC, its General Partner    
        By:   Ventas Provident, LLC, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    PSLT-BLC PROPERTIES HOLDINGS, LLC    
    PSLT-ALS PROPERTIES HOLDINGS, LLC    
 
                   
        By:   PSLT OP, L.P., its Sole Member    
        By:   PSLT GP, LLC, its General Partner    
        By:   Ventas Provident, LLC, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    

 

 


 

                     
    BROOKDALE LIVING COMMUNITIES OF ARIZONA-EM, LLC    
    BROOKDALE LIVING COMMUNITIES OF CALIFORNIA, LLC    
    BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-RC, LLC    
    BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-SAN MARCOS, LLC    
    BROOKDALE LIVING COMMUNITIES OF ILLINOIS-2960, LLC    
    BROOKDALE LIVING COMMUNITIES OF ILLINOIS-II, LLC    
    BROOKDALE HOLDINGS, LLC    
    BROOKDALE LIVING COMMUNITIES OF MASSACHUSETTS-RB, LLC    
    BROOKDALE LIVING COMMUNITIES OF MINNESOTA, LLC    
    BROOKDALE LIVING COMMUNITIES OF NEW YORK-GB, LLC    
    BROOKDALE LIVING COMMUNITIES OF WASHINGTON-PP, LLC    
 
                   
        By:   PSLT-BLC Properties Holdings, LLC, its Sole Member    
        By:   PSLT OP, L.P., its Sole Member    
        By:   PSLT GP, LLC, its General Partner    
        By:   Ventas Provident, LLC, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel
and Associate Secretary
   
 
                   
    BLC OF CALIFORNIA-SAN MARCOS, L.P.    
 
                   
        By:   Brookdale Living Communities of California- San Marcos, LLC, its General Partner    
        By:   PSLT-BLC Properties Holdings, LLC, its Sole Member    
        By:   PSLT OP, L.P., its Sole Member    
        By:   PSLT GP, LLC, its General Partner    
        By:   Ventas Provident, LLC, its Sole Member    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    

 

 


 

         
  THE PONDS OF PEMBROKE LIMITED PARTNERSHIP
RIVER OAKS PARTNERS
 
 
 
By:  
Brookdale Holdings, LLC, its General Partner    
 
By:  
PSLT-BLC Properties Holdings, LLC, its Sole Member    
 
By:  
PSLT OP, L.P., its Sole Member    
 
By:  
PSLT GP, LLC, its General Partner    
 
By:  
Ventas Provident, LLC, its Sole Member    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  PSLT-ALS PROPERTIES I, LLC
PSLT-ALS PROPERTIES II, LLC
 
 
 
By:  
PSLT-ALS Properties Holdings, LLC, its Sole Member    
 
By:  
PSLT OP, L.P., its Sole Member    
 
By:  
PSLT GP, LLC, its General Partner    
 
By:  
Ventas Provident, LLC, its Sole Member    
 
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   

 

 


 

         
  VTRLTH MAB I, LLC
VTRLTH MAB II, LLC
VSCRE HOLDINGS, LLC
UNITED REHAB REALTY HOLDING, LLC
BCC MARTINSBURG REALTY, LLC
BCC ONTARIO REALTY, LLC
BCC MEDINA REALTY, LLC
BCC WASHINGTON TOWNSHIP REALTY, LLC
EC TIMBERLIN PARC REALTY, LLC
EC HALCYON REALTY, LLC
BCC ALTOONA REALTY, LLC
BCC ALTOONA REALTY GP, LLC
BCC READING REALTY, LLC
BCC READING REALTY GP, LLC
BCC BERWICK REALTY, LLC
BCC BERWICK REALTY GP, LLC
BCC LEWISTOWN REALTY, LLC
BCC LEWISTOWN REALTY GP, LLC
BCC STATE COLLEGE REALTY, LLC
BCC STATE COLLEGE REALTY GP, LLC
SHIPPENSBURG REALTY HOLDINGS, LLC
BCC SHIPPENSBURG REALTY, LLC
IPC (AP) HOLDING LLC
AL (AP) HOLDING LLC
ALLISON PARK NOMINEE LLC
IPC (HCN) HOLDING LLC
AL (HCN) HOLDING LLC
BLOOMSBURG NOMINEE LLC
SAGAMORE HILLS NOMINEE LLC
LEBANON NOMINEE LLC
KNOXVILLE NOMINEE LLC
KINGSPORT NOMINEE LLC
HENDERSONVILLE NOMINEE LLC
SAXONBURG NOMINEE LLC
LOYALSOCK NOMINEE LLC
IPC (MT) HOLDING LLC
AL (MT) HOLDING LLC
LEWISBURG NOMINEE LLC
LIMA NOMINEE LLC
XENIA NOMINEE LLC
CHIPPEWA NOMINEE LLC
DILLSBURG NOMINEE LLC
 
 
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General
Counsel and Associate Secretary 
 

 

 


 

         
  BCC ALTOONA REALTY, LP
 
 
 
By:  
BCC Altoona Realty GP, LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  BCC READING REALTY, LP
 
 
 
By:  
BCC Reading Realty GP, LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  BCC BERWICK REALTY, LP
 
 
 
By:  
BCC Berwick Realty GP, LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  BCC LEWISTOWN REALTY, LP
 
 
 
By:  
BCC Lewistown Realty GP, LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  BCC STATE COLLEGE REALTY, LP
 
 
 
By:  
BCC State College Realty GP, LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   

 

 


 

         
  ALLISON PARK NOMINEE LP
 
 
 
By:  
Allison Park Nominee LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  BLOOMSBURG NOMINEE LP
 
 
 
By:  
Bloomsburg Nominee LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  SAGAMORE HILLS NOMINEE LP
 
 
 
By:  
Sagamore Hills Nominee LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  LEBANON NOMINEE LP
 
 
 
By:  
Lebanon Nominee LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   
 
  SAXONBURG NOMINEE LP
 
 
 
By:  
Saxonburg Nominee LLC, its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President, General Counsel and Associate Secretary   

 


 

                     
    LOYALSOCK NOMINEE LP    
 
                   
        By:   Loyalsock Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    LEWISBURG NOMINEE LP    
 
                   
        By:   Lewisburg Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    LIMA NOMINEE LP    
 
                   
        By:   Lima Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    XENIA NOMINEE LP    
 
                   
        By:   Xenia Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    CHIPPEWA NOMINEE LP    
 
                   
        By:   Chippewa Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    

 


 

                     
    DILLSBURG NOMINEE LP    
 
                   
        By:   Dillsburg Nominee LLC, its General Partner    
 
                   
        By:   /s/ T. Richard Riney    
                 
 
          Name:   T. Richard Riney    
 
          Title:   Executive Vice President, General Counsel and Associate Secretary    
 
                   
    VENTAS SSL ONTARIO III, INC.
SZR MISSISSAUGA INC.
VENTAS SSL LYNN VALLEY, INC.
SZR MARKHAM INC.
VENTAS SSL BEACON HILL, INC.
SZR RICHMOND HILL INC.
VENTAS SSL ONTARIO II, INC.
SZR WINDSOR INC.
SZR OAKVILLE INC.
VENTAS SSL VANCOUVER, INC.
SZR OF BURLINGTON INC.
   
 
                   
    By:   /s/ T. Richard Riney    
             
        Name:   T. Richard Riney    
        Title:   Executive Vice President and Secretary    
 
                   
    SZR ACQUISITIONS, LLC
SZR COLUMBIA LLC
SZR WILLOWBROOK LLC
SZR NORWOOD LLC
SZR ROCKVILLE LLC
SZR SAN MATEO LLC
   
 
                   
    By:   SZR US Investments, Inc., its Sole Member    
 
                   
    By:   /s/ T. Richard Riney    
             
        Name:   T. Richard Riney    
        Title:   Executive Vice President and Associate Secretary    

 


 

           
  SZR LINCOLN PARK LLC
SZR NORTH HILLS LLC
SZR WESTLAKE VILLAGE LLC
SZR YORBA LINDA LLC
 
 
  By:   SZR US UPREIT THREE, LLC, its Sole Member    
       
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President and Associate Secretary   
         
  VENTAS CENTER MOB, LLC  
 
 
  By:   Ventas MO Holdings, LLC    
     
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President and Associate Secretary   
         
  VENTAS UNIVERSITY MOB, LLC
MAB PARENT LLC
 
 
  By:   Ventas MOB Holdings, LLC    
     
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Executive Vice President and Associate Secretary   
         
  ET SUB-BELVEDERE LIMITED PARTNERSHIP, L.L.P.
 
 
  By:   ET Belvedere Finance, L.L.C., its General    
    Partner   
     
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Associate Secretary   
         
  ET SUB-DCMH LIMITED PARTNERSHIP, L.L.P.
 
 
  By:   ET DCMH Finance, L.L.C., its General Partner    
     
  By:   /s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Associate Secretary   

 

 


 

         
         
  ET SUB-POB I LIMITED PARTNERSHIP, L.L.P.
 
 
 
By:  
ET POBI Finance, L.L.C., its General Partner    
     
 
By:  
/s/ T. Richard Riney    
    Name:   T. Richard Riney   
    Title:   Associate Secretary   

 

 


 

         
ADMINISTRATIVE AGENT: BANK OF AMERICA, N.A., as Administrative Agent and as Cash Collateral Bank
 
 
  By:   /s/ Amie L. Edwards    
    Name:   Amie L. Edwards   
    Title:   Senior Vice President   
 
LENDERS: BANK OF AMERICA, N.A., individually as a Lender,
as Issuing Bank and as Swingline Lender
 
 
  By:   /s/ Amie L. Edwards    
    Name:   Amie L. Edwards   
    Title:   Senior Vice President   
 

 

 


 

         
  MERRILL LYNCH CAPITAL CORPORATION,
as a Lender
 
 
  By:   /s/ Sarang R. Gadkari    
    Name:   Sarang R. Gadkari   
    Title:   Vice President   
 
  MERRILL LYNCH BANK USA,
as a Lender
 
 
  By:   /s/ Sarang R. Gadkari    
    Name:   Sarang R. Gadkari   
    Title:   Vice President   

 

 


 

         
         
  BANK OF TAIWAN, LOS ANGELES BRANCH,
as a Lender
 
 
  By:   /s/ Chwan-Ming Ho    
    Name:   Chwan-Ming Ho   
    Title:   VP & General Manager   
 

 

 


 

         
  BANK OF THE WEST, as a Lender
 
 
  By:   /s/ Marc R. Thompson    
    Name:   Marc R. Thompson   
    Title:   Senior Vice President   
 

 

 


 

         
  BARCLAYS BANK, PLC,
as a Lender
 
 
  By:   /s/ Noam Azachi    
    Name:   Noam Azachi   
    Title:   Assistant Vice President   
 

 

 


 

         
  COMPASS BANK, as a Lender
 
 
  By:   /s/ EP Paul    
    Name:   Eric J. Paul   
    Title:   Senior Vice President   
 

 

 


 

         
  CREDIT AGRICOLE CORPORATE AND
INVESTMENT BANK, as a Lender
 
 
  By:   /s/ David Cagle    
    Name:   David Cagle   
    Title:   Managing Director   
     
  By:   /s/ David J, Christiansen    
    Name:   David Christiansen   
    Title:   Vice President   

 

 


 

         
  FIRST COMMERCIAL BANK, LOS ANGELES
BRANCH, as a Lender
 
 
  By:   /s/ Cliff Lin    
    Name:   Cliff Lin   
    Title:   Vice President & General Manager   
 

 

 


 

         
  GOLDMAN SACHS BANK USA,
as a Lender
 
 
  By:   /s/ Allison O’Connor    
    Name:   Allison O’Connor   
    Title:   Authorized Signatory   
 

 

 


 

         
  JEFFERIES FINANCE, LLC, as a Lender
 
 
  By:   /s/ Carl A. Toriello    
    Name:   Carl A. Toriello   
    Title:   Chief Risk Officer Chief Operating Officer   
 

 

 


 

         
  RBS CITIZENS NA, as a Lender
 
 
  By:   /s/ Donald Woods    
    Name:   Donald Woods   
    Title:   SVP   
 

 

 


 

         
  ROYAL BANK OF CANADA,
as a Lender
 
 
  By:   /s/ Gordon MacArthur    
    Name:   Gordon MacArthur   
    Title:   Authorized Signatory   

 

 


 

         
         
  CITICORP NORTH AMERICA, INC.,
as a Lender
 
 
  By:   /s/ John Rowland    
    Name:   John Rowland   
    Title:   Director   

 

 


 

         
         
  BANK OF MONTREAL,
as a Lender
 
 
  By:   /s/ Aaron Lanski    
    Name:   Aaron Lanski   
    Title:   Director   

 

 


 

         
         
  UBS AG, STAMFORD BRANCH,
as a Lender
 
 
  By:   /s/ Irja R. Otsa    
    Name:   Irja R. Otsa   
    Title:   Associate Director   
 
     
  By:   /s/ Mary E. Evans    
    Name:   Mary E. Evans   
    Title:   Associate Director   

 

 


 

         
         
  KEYBANK NATIONAL ASSOCIATION,
as a Lender
 
 
  By:   /s/ Amy L. MacLearie    
    Name:   Amy L. MacLearie   
    Title:   AVP   

 

 


 

         
  DEUTSCHE BANK TRUST COMPANY AMERICAS,
as a Lender
 
 
  By:   /s/ Douglas Weir    
    Name:   Douglas Weir   
    Title:   Director   
     
  By:   /s/ Ming K. Chu    
    Name:   Ming K. Chu   
    Title:   Vice President   

 

 


 

         
  ALLIED IRISH BANKS, PLC,
as a Lender
 
 
  By:   /s/ Anthony O’Reilly    
    Name:   Anthony O’Reilly   
    Title:   SVP   
     
  By:   /s/ illegible    
    Name:      
    Title:      

 

 


 

         
         
  CAPITAL ONE, N.A.,
as a Lender
 
 
  By:   /s/ Frederick H. Denecke    
    Name:   Frederick H. Denecke   
    Title:   Vice President   

 

 


 

         
         
  STATE BANK OF INDIA
as a Lender
 
 
  By:   /s/ CS Setty    
    Name:   C Sreenivasulu Setty   
    Title:   V.P. & Head (Syndications)   
 

 

 


 

Schedule 1
to
Fourth Amendment
Released Credit Parties
AL (AP) HOLDING LLC
AL (HCN) HOLDING LLC
AL (MT) HOLDING LLC
ALLISON PARK NOMINEE LLC
ALLISON PARK NOMINEE LP
BCC ALTOONA REALTY GP, LLC
BCC ALTOONA REALTY, LLC
BCC ALTOONA REALTY, LP
BCC BERWICK REALTY GP, LLC
BCC BERWICK REALTY, LLC
BCC BERWICK REALTY, LP
BCC LEWISTOWN REALTY GP, LLC
BCC LEWISTOWN REALTY, LLC
BCC LEWISTOWN REALTY, LP
BCC MARTINSBURG REALTY, LLC
BCC MEDINA REALTY, LLC
BCC ONTARIO REALTY, LLC
BCC READING REALTY GP, LLC
BCC READING REALTY, LLC
BCC READING REALTY, LP
BCC SHIPPENSBURG REALTY, LLC
BCC STATE COLLEGE REALTY GP, LLC
BCC STATE COLLEGE REALTY, LLC
BCC STATE COLLEGE REALTY, LP
BCC WASHINGTON TOWNSHIP REALTY, LLC
BLC OF CALIFORNIA-SAN MARCOS, L.P.
BLOOMSBURG NOMINEE LLC
BLOOMSBURG NOMINEE LP
BROOKDALE HOLDINGS, LLC
BROOKDALE LIVING COMMUNITIES OF ARIZONA-EM, LLC
BROOKDALE LIVING COMMUNITIES OF CALIFORNIA, LLC
BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-RC, LLC
BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-SAN MARCOS, LLC
BROOKDALE LIVING COMMUNITIES OF ILLINOIS-2960, LLC
BROOKDALE LIVING COMMUNITIES OF ILLINOIS-II, LLC
BROOKDALE LIVING COMMUNITIES OF MASSACHUSETTS-RB, LLC
BROOKDALE LIVING COMMUNITIES OF MINNESOTA, LLC
BROOKDALE LIVING COMMUNITIES OF NEW YORK-GB, LLC
BROOKDALE LIVING COMMUNITIES OF WASHINGTON-PP, LLC
CHIPPEWA NOMINEE LLC
CHIPPEWA NOMINEE LP
DILLSBURG NOMINEE LLC
DILLSBURG NOMINEE LP

 

 


 

EC HALCYON REALTY, LLC
EC TIMBERLIN PARC REALTY, LLC
ELDERTRUST
ET BELVEDERE FINANCE, L.L.C.
ET BERKSHIRE, LLC
ET CAPITAL CORP.
ET DCMH FINANCE, L.L.C.
ET GENPAR, L.L.C.
ET LEHIGH, LLC
ET PENNSBURG FINANCE, L.L.C.
ET POBI FINANCE, L.L.C.
ET SANATOGA, LLC
ET SUB-BELVEDERE LIMITED PARTNERSHIP, L.L.P.
ET SUB-BERKSHIRE LIMITED PARTNERSHIP
ET SUB-DCMH LIMITED PARTNERSHIP, L.L.P.
ET SUB-HERITAGE WOODS, L.L.C.
ET SUB-HIGHGATE, L.P.
ET SUB-LEHIGH LIMITED PARTNERSHIP
ET SUB-LOPATCONG, L.L.C.
ET SUB-PENNSBURG MANOR LIMITED PARTNERSHIP, L.L.P.
ET SUB-POB I LIMITED PARTNERSHIP, L.L.P.
ET SUB-SANATOGA LIMITED PARTNERSHIP
ET SUB-WAYNE I LIMITED PARTNERSHIP, L.L.P.
ET SUB-WOODBRIDGE, L.P.
ET WAYNE FINANCE, L.L.C.
HENDERSONVILLE NOMINEE LLC
HENDERSONVILLE NOMINEE LP
IPC (AP) HOLDING LLC
IPC (HCN) HOLDING LLC
IPC (MT) HOLDING LLC
KINGSPORT NOMINEE LLC
KNOXVILLE NOMINEE LLC
LEBANON NOMINEE LLC
LEBANON NOMINEE LP
LEWISBURG NOMINEE LLC
LEWISBURG NOMINEE LP
LIMA NOMINEE LLC
LIMA NOMINEE LP
LOYALSOCK NOMINEE LLC
LOYALSOCK NOMINEE LP
MAB PARENT LLC
PSLT GP, LLC
PSLT OP, L.P.
PSLT-ALS PROPERTIES HOLDINGS, LLC
PSLT-ALS PROPERTIES I, LLC
PSLT-ALS PROPERTIES II, LLC
PSLT-BLC PROPERTIES HOLDINGS, LLC
RIVER OAKS PARTNERS
SAGAMORE HILLS NOMINEE LLC

 

 


 

SAGAMORE HILLS NOMINEE LP
SAXONBURG NOMINEE LLC
SAXONBURG NOMINEE LP
SHIPPENSBURG REALTY HOLDINGS, LLC
SZR ACQUISITIONS, LLC
SZR BURLINGTON INC.
SZR COLUMBIA LLC
SZR LINCOLN PARK LLC
SZR MARKHAM INC.
SZR MISSISSAUGA INC.
SZR NORTH HILLS LLC
SZR NORWOOD LLC
SZR OAKVILLE INC.
SZR RICHMOND HILL INC.
SZR ROCKVILLE LLC
SZR SAN MATEO LLC
SZR SCOTTSDALE, LLC
SZR US INVESTMENTS, INC.
SZR US UPREIT THREE, LLC
SZR WESTLAKE VILLAGE LLC
SZR WILLOWBROOK LLC
SZR WINDSOR INC.
SZR YORBA LINDA LLC
THE PONDS OF PEMBROKE LIMITED PARTNERSHIP
UNITED REHAB REALTY HOLDING, LLC
VCC HEALTHCARE FUND, LLC
VENTAS BROADWAY MOB, LLC
VENTAS CAPITAL CORPORATION
VENTAS CARROLL MOB, LLC
VENTAS CASPER HOLDINGS, LLC
VENTAS CENTER MOB, LLC
VENTAS DASCO MOB HOLDINGS, LLC
VENTAS EH HOLDINGS, LLC
VENTAS FRAMINGHAM, LLC
VENTAS GRANTOR TRUST #1
VENTAS GRANTOR TRUST #2
VENTAS HEALTHCARE CAPITAL, LLC
VENTAS HEALTHCARE PROPERTIES, INC.
VENTAS LP REALTY, L.L.C.
VENTAS MO HOLDINGS, LLC
VENTAS MOB HOLDINGS, LLC
VENTAS NEXCORE HOLDINGS, LLC
VENTAS OF VANCOUVER LIMITED
VENTAS PROVIDENT, LLC
VENTAS REIT US HOLDINGS, INC.
VENTAS SSL BEACON HILL, INC.
VENTAS SSL HOLDINGS, INC.
VENTAS SSL HOLDINGS, LLC
VENTAS SSL LYNN VALLEY, INC.

 

 


 

VENTAS SSL ONTARIO II, INC.
VENTAS SSL ONTARIO III, INC.
VENTAS SSL VANCOUVER, INC.
VENTAS SSL, INC.
VENTAS TRS, LLC
VENTAS UNIVERSITY MOB, LLC
VENTAS WESTERN HOLDINGS, LLC
VSCRE HOLDINGS, LLC
VTR AVISTA MOB, LLC
VTR DOB III MOB, LLC
VTR EBERLE MOB, LLC
VTRLTH MAB I, LLC
VTRLTH MAB II, LLC
XENIA NOMINEE LLC
XENIA NOMINEE LP