Document:

Exhibit 10.1

 

Execution Version

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

THIS FIRST AMENDMENT
TO CREDIT AGREEMENT (this “Amendment”), dated as of the First Amendment Effective Date, is by and among
OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Borrower”), OHI HEALTHCARE PROPERTIES
LIMITED PARTNERSHIP, a Delaware limited partnership, as a Guarantor, the lenders identified on the signature pages hereto and
BANK OF AMERICA, N.A., as Administrative Agent.

 

WITNESSETH

 

WHEREAS, the
Borrower, each Guarantor, the lenders party thereto from time to time (the “Lenders”) and the Administrative
Agent have entered into that certain Credit Agreement dated as of May 25, 2017 as amended, supplemented or otherwise modified prior
to the date hereof (the “Existing Credit Agreement”);

 

WHEREAS, the
Borrower, each Guarantor, certain of the Lenders and the Administrative Agent have agreed to amend the Existing Credit Agreement
as 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 hereto agree as follows:

 

PART 1

DEFINITIONS

 

SUBPART 1.1      Certain
Definitions. The following terms used in this Amendment, including its preamble and recitals, have the following meanings:

 

“Amended
Credit Agreement” means the Existing Credit Agreement as amended hereby.

 

SUBPART 1.2      Other
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

 

SUBPART 2.1      The
definition of “Subsidiary Guarantor” set forth in Section 1.01 of the Existing Credit Agreement is hereby amended
and restated in its entirety to read as follows:

 

“Subsidiary Guarantor”
means (a) Omega LP and (b) each Domestic Subsidiary of the Borrower which becomes a Subsidiary Guarantor pursuant to Section
6.15(a) hereof.

 

SUBPART 2.2      The following definitions are hereby added to Section 1.01 of the Existing Credit Agreement in the appropriate alphabetical
order:

 

“Beneficial Ownership
Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

“Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230.

 

    	 

     

    

 

“First Amendment”
means that certain First Amendment to Credit Agreement, dated as of the First Amendment Effective Date, by and among the Borrower,
Omega LP, the Lenders party thereto and the Administrative Agent.

 

“First Amendment Effective
Date” means February 1, 2019.

 

SUBPART 2.3       Article
V of the Existing Credit Agreement is hereby amended to add a new Section 5.23 immediately following Section 5.22
and to read as follows:

 

5.23 Beneficial Ownership
Certification.

 

As of the First Amendment Effective
Date, the information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects.

 

SUBPART 2.4      Section
6.15(c) and the immediately following paragraph of the Existing Credit Agreement are hereby amended and restated in their entirety
to read as follows:

 

(c)            Notwithstanding
the requirements set forth in clauses (a) or (b) of this Section 6.15, in the event that any Person acting as a Guarantor
(other than Omega LP) (i) is no longer obligated to provide a guarantee of any Indebtedness of the Borrower for borrowed money
evidenced by bonds, debentures, notes or other similar instruments in an amount of at least $50,000,000 (excluding any amounts
outstanding pursuant to this Credit Agreement or the LP Credit Agreement or the Bank of Tokyo Credit Agreement) or (ii) would be
automatically released from its guarantee obligations of any such indebtedness upon its release from the Guaranty or (iii) is sold
to a third-party and such unsecured debt is paid off upon completion of the sale or is agreed to be assumed by and transferred
to such third-party purchaser upon completion of such sale, then such Person shall be automatically released as a party to the
Credit Documents (the “Release”). In such an event, the Borrower will notify the Administrative Agent that,
pursuant to this Section 6.15(c), such Person shall be released and, in accordance with Section 9.11, the Administrative
Agent shall (to the extent applicable) deliver to the Credit Parties such documentation as is reasonably necessary to evidence
the Release.

 

Notwithstanding
the foregoing, (A) as set forth in Section 6.18 below, the Obligations shall remain a senior unsecured obligation,
pari passu with all other senior unsecured Funded Debt of the Borrower, Omega LP and to the extent applicable, any other Subsidiary
Guarantor and (B) to the extent that following any such Release, any Real Property Asset owned by an otherwise released or to be
released Guarantor that is obligated in respect of outstanding recourse debt for Funded Debt shall not be deemed an Unencumbered
Property for purposes of this Agreement.

 

SUBPART 2.5      Section
7.04 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

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7.04 Fundamental Changes.

 

No Credit Party shall, nor shall
they permit any Subsidiary to, directly or indirectly, merge, dissolve, liquidate or consolidate with or into another Person, except
that, so long as no Event of Default exists or would result therefrom and subject to the proviso below, (a) a Credit Party may
merge or consolidate with or into one or more other Credit Parties, (b) any Subsidiary that is not a Credit Party may (i) merge
or consolidate with or into a Credit Party, so long as such Credit Party is the continuing or surviving Person, (ii) merge or consolidate
with or into another Subsidiary that is not a Credit Party, or (iii) may dissolve, liquidate or wind up its affairs at any time,
so long as such dissolution, liquidation or winding up, as applicable, could not reasonably be expected to have a Material Adverse
Effect, or (c) any other merger, dissolution, liquidation, wind up or consolidation that is not specified in clauses (a) or (b)
herein and is not otherwise prohibited pursuant to this Agreement shall be permitted; provided, that (i) if the Borrower
or Omega LP is a party to any merger or consolidation permitted under this Section 7.04 it shall be the continuing or surviving
Person and (ii) in no event shall the Borrower and Omega LP be permitted to merge or consolidate with each other.

 

SUBPART 2.6      Article
VII of the Existing Credit Agreement is hereby amended to add a new Section 7.14 immediately following Section 7.13
and to read as follows:

 

7.14 Other Business or
Activity of the Borrower.

 

The Borrower shall not directly
or indirectly enter into or conduct any business or activity other than (a) in connection with the ownership, acquisition and
disposition of interests in Omega LP, (b) the management of the business of Omega LP, and (c) such business or activity that is
conducted by the Borrower and its Subsidiaries on the date hereof or, in each case, such business or activity as is reasonably
ancillary or incidental thereto (in any case, a “Permitted Activity”); provided, however, the
Borrower shall not own any assets other than (i) interests, rights, options, warrants or convertible or exchangeable securities
of Omega LP, (ii) assets that have been distributed to the Borrower by its Subsidiaries that are held for fifteen (15) Business
Days or less pending further distribution to equity holders of the Borrower or application by the Borrower, as the case may be,
pursuant to a Permitted Activity, (iii) assets received directly or indirectly by the Borrower from third parties (including,
without limitation, the net cash proceeds from any issuance and sale by the Borrower of any equity interests or issuance of Senior
Notes), that are held for fifteen (15) Business Days or less pending further contribution to Omega LP or application by the Borrower,
as the case may be, pursuant to a Permitted Activity, (iv) such bank accounts or similar instruments as it deems necessary in
furtherance of a Permitted Activity or to carry out its responsibilities under the Organization Documents of Omega LP and (v)
other tangible and intangible assets that, taken as a whole, are immaterial in relation to the consolidated assets of Omega LP
and its Subsidiaries, but which shall in no event include any equity interests other than those permitted in clauses (i) and (iii)
of this sentence. Nothing in this Section 7.14 shall prevent the Borrower from (A) the maintenance of its legal existence
or activities reasonably incidental thereto (including, without limitation, the ability to incur fees, costs and expenses relating
to such maintenance), (B) the performance of its obligations with respect to this Credit Agreement and the Credit Documents executed
in connection therewith or any other Borrower Indebtedness, (C) any public offering of its common stock or any other issuance
or sale of its equity interests or issuance of its Senior Notes, (D) the payment of dividends, (E) making contributions to the
capital of Omega LP, (F) participating in tax, accounting and other administrative matters as a member of the Consolidated Parties,
(G) providing indemnification to officers, managers and directors, (H) any activities incidental to compliance with the Securities
Laws and the rules of national securities exchanges and activities incidental to investor relations, shareholder meetings and
reports to shareholders or debtholders and (I) any activities incidental to the foregoing.

 

    	3

     

    

 

SUBPART 2.7      
Section 9.11 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

9.11 Guaranty Matters.

 

The Lenders irrevocably authorize
the Administrative Agent, at its option and in its discretion, to release any Person (other than Omega LP) from its obligations
under the Guaranty if (a) such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder or (b) such Person
is no longer required to be a Guarantor pursuant to Section 6.15(c). Upon the release of any Person pursuant to this Section
9.11, the Administrative Agent shall (to the extent applicable) deliver to the Credit Parties, upon the Credit Parties’
request and at the Credit Parties’ expense, such documentation as is reasonably necessary to evidence the release of such
Person from its obligations under the Credit Documents.

 

SUBPART 2.8       The last sentence of
Section 10.22 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

The Borrower shall, promptly
following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative
Agent or such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer”
and anti-money laundering rules and regulations, including the Act and the Beneficial Ownership Certification (if applicable).

 

PART 3

CONDITIONS TO EFFECTIVENESS

 

SUBPART 3.1      First
Amendment Effective Date. This Amendment shall be and become effective as of the First Amendment Effective Date and when all
of the conditions set forth in this Part 3 shall have been satisfied, and thereafter this Amendment shall be known, and
may be referred to, as the “First Amendment”.

 

SUBPART 3.2      Execution
of Counterparts of Amendment. The Administrative Agent shall have received counterparts (or other evidence of execution, including
telephonic message or other electronic imaging means, satisfactory to the Administrative Agent) of this Amendment, which collectively
shall have been duly executed on behalf of the Borrower, each Guarantor, Lenders constituting Required Lenders (as defined in the
Existing Credit Agreement) and the Administrative Agent.

 

SUBPART 3.3      Fees
and Expenses. Payment by the Credit Parties to the Administrative Agent of all fees and expenses relating to the preparation,
execution and delivery of this Amendment which are due and payable on the First Amendment Effective Date.

 

SUBPART 3.4      KYC. Receipt by the Administrative Agent and each Lender of, in each case, at least five (5) days prior to the First Amendment
Effective Date:

 

    	4

     

    

 

(a)
        all documentation and other information requested by the Administrative Agent or any
Lender under applicable “know your customer” or anti-money laundering rules, regulations or policies, including the
Patriot Act; and

 

(b)           if
applicable, a Beneficial Ownership Certification in relation to each Credit Party that qualifies as a “legal entity customer”
under the Beneficial Ownership Certification.

 

PART 4

MISCELLANEOUS

 

SUBPART 4.1     Construction.
This Amendment is a Credit Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with the terms and provisions of the Amended Credit Agreement.

 

SUBPART 4.2     Representations
and Warranties. Each Credit Party hereby represents and warrants that it: (a) has the requisite corporate power and authority
to execute, deliver and perform this Amendment, and (b) is duly authorized to, and has been authorized by all necessary corporate
action, to execute, deliver and perform this Amendment, (c) after giving effect to this Amendment, the representations and warranties
contained in Article V of the Amended Credit Agreement are true and correct in all material respects on and as of the First Amendment
Effective Date upon giving effect to this Amendment as though made on and as of such date (except for those which expressly relate
to an earlier date) and (d) no Default or Event of Default exists under the Existing Credit Agreement on and as of the First Amendment
Effective Date upon giving effect to this Amendment.

 

SUBPART 4.3     Counterparts.
This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and
all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page
of this Amendment by facsimile or other electronic means shall be effective as delivery of a manually executed original counterpart
of this Amendment.

 

SUBPART 4.4     Binding
Effect. This Amendment, the Amended Credit Agreement and the other Credit Documents embody the entire agreement between the
parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof. These Credit Documents
represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements of the parties. Except as expressly modified and amended in this Amendment, all the terms, provisions and conditions
of the Credit Documents shall remain unchanged and shall continue in full force and effect.

 

SUBPART 4.5     GOVERNING
LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SUBPART 4.6     Severability.
If any provision of this Amendment is determined to be illegal, invalid or unenforceable, such provision shall be fully
severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the
illegal, invalid or unenforceable provisions. 

 

    	5

     

    

 

SUBPART 4.7      Affirmation.
Except as specifically amended above, the Credit Documents (and all covenants, terms, conditions and agreements therein), shall
remain in full force and effect, and are hereby ratified and confirmed in all respects by the Credit Parties. Each Credit Party
covenants and agrees to comply with all of the terms, covenants and conditions of the Existing Credit Agreement applicable to
it, as otherwise amended hereby, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions
on Lenders’ part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and
conditions. 

 

SUBPART 4.8      No
Waiver. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy
of Lenders, nor constitute a waiver of any provision of any Credit Document or any other documents, instruments and agreements
executed or delivered in connection with any of the foregoing. Nothing herein is intended or shall be construed as a waiver of
any existing Defaults or Events of Default under the Credit Documents or any of Lenders’ rights and remedies in respect
of such Defaults or Events of Default.

 

[SIGNATURE PAGES FOLLOW]

 

    	6

     

    

  

IN WITNESS WHEREOF,
each of the parties hereto has caused a counterpart of this First Amendment to Credit Agreement to be duly executed and delivered
as of the date first above written.

 

	BORROWER:	OMEGA HEALTHCARE INVESTORS, INC.

 

	 	By	/s/ Daniel J. Booth
	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	GUARANTOR:	OHI HEALTHCARE PROPERTIES LIMITED
	 	PARTNERSHIP

 

	 	By:	/s/ Daniel J. Booth
	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

omega
healthcare investors, inc.

FIRST
amendment to credit agreement

 

    	 

     

    

 

 

	ADMINISTRATIVE AGENT:	bank of america, n.a.,
	 	as Administrative Agent

 

	 	By:	/s/ Henry Pennell
	 	Name:	Henry Pennell
	 	Title:	Vice President

 

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	LENDERS:	bank of america, n.a., as L/C Issuer, Swing Line 

Lender and as a Lender

 

	 	By:	/s/ Yinghua Zhang
	 	Name:	Yinghua Zhang
	 	Title:	Director

 

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	 	CREDIT AGRICOLE COPORATE AND

 INVESTMENT BANK, 
	 	as a Lender

 

	 	By:	/s/ Gordon Yip
	 	Name:	Gordon Yip
	 	Title:	Director
	 	 	 
	 	By:	/s/ Karen L. Ramos
	 	Name:	Karen L. Ramos
	 	Title:	Managing Director

 

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	 	JPMORGAN CHASE BANK, N.A., 
	 	as a Lender

 

	 	By:	/s/ Chiara Carter
	 	Name:	Chiara Carter
	 	Title:	Executive Director

 

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	 	CITIZENS BANK, NATIONAL ASSOCIATION, 
	 	as a Lender

 

	 	By:	/s/ Michelle Dawson
	 	Name:	Michelle Dawson
	 	Title:	Vice President

 

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	 	MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-

MITSUBISHI UFJ, LTD.),
	 	as a Lender

 

	 	By:	/s/ David Meisner
	 	Name:	David Meisner
	 	Title:	Vice President

 

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	 	CAPITAL ONE, NATIONAL ASSOCIATION, 
	 	as a Lender

 

	 	By:	/s/ Jason LaGrippe
	 	Name:	Jason LaGrippe
	 	Title:	Duly Authorized Signatory

 

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	 	MORGAN STANLEY BANK, N.A., 
	 	as a Lender

 

	 	By:	/s/ Emanuel Ma
	 	Name:	Emanuel Ma
	 	Title:	Authorized Signatory

 

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	 	ROYAL BANK OF CANADA, 
	 	as a Lender

 

	 	By:	/s/ William Behuniak
	 	Name:	William Behuniak
	 	Title:	Authorized Signatory

 

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	 	SUNTRUST BANK, 
	 	as a Lender

 

	 	By:	/s/ John Cappellari
	 	Name:	John Cappellari
	 	Title:	Director

 

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	 	BRANCH BANKING AND TRUST COMPANY, 
	 	as a Lender

 

	 	By:	/s/ Brian Waldron
	 	Name:	Brian Waldron
	 	Title:	Vice President

 

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	 	STIFEL BANK & TRUST, 
	 	as a Lender

 

	 	By:	/s/ Daniel P. McDonald
	 	Name:	Daniel P. McDonald
	 	Title:	Assistant Vice President

 

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	 	SYNOVUS BANK, 
	 	as a Lender

 

	 	By:	/s/ David W. Bowman
	 	Name:	David W. Bowman
	 	Title:	Director

 

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	 	TAIWAN COOPERATIVE BANK, SEATTLE

 BRANCH, 
	 	as a Lender

 

	 	By:	/s/ Guey-Fang Cheng
	 	Name:	Guey-Fang Cheng
	 	Title:	VP & Deputy General Manager

 

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	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION, 
	 	as a Lender

 

	 	By:	/s/ Andrea S. Chen
	 	Name:	Andrea S. Chen
	 	Title:	Managing Director

 

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	 	COMPASS BANK, 
	 	as a Lender

 

	 	By:	/s/ Brian Tuerff
	 	Name:	Brian Tuerff
	 	Title:	SVP

 

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	 	REGIONS BANK, 
	 	as a Lender

 

	 	By:	/s/ Steven W. Mitchell
	 	Name:	Steven W. Mitchell
	 	Title:	Senior Vice President

 

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	 	THE HUNTINGTON NATIONAL BANK, 
	 	as a Lender

 

	 	By:	/s/ Eva S. McQuillen
	 	Name:	Eva S. McQuillen
	 	Title:	Vice President

 

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	 	THE BANK OF NOVA SCOTIA, 
	 	as a Lender

 

	 	By:	/s/ Michelle C. Phillips
	 	Name:	Michelle C. Phillips
	 	Title:	Managing Director

 

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	 	BANK OF THE WEST, A CALIFORNIA BANKING
	 	CORPORATION,
	 	as a Lender

 

	 	By:	/s/ Sarah J. Burns
	 	Name:	Sarah J. Burns
	 	Title:	Vice President

 

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	 	FIFTH THIRD BANK, 
	 	as a Lender

 

	 	By:	/s/ William D. Priester
	 	Name:	William D. Priester
	 	Title:	Senior Vice President

 

omega
healthcare investors, inc.

FIRST
amendment to credit agreementExhibit 10.2

 

Execution Version

 

FIRST AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT

 

THIS FIRST AMENDMENT
TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of the First Amendment Effective Date,
is by and among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Borrower”), OHI HEALTHCARE
PROPERTIES LIMITED PARTNERSHIP, a Delaware limited partnership, as a Guarantor, the lenders identified on the signature pages
hereto and MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.), as Administrative Agent.

 

WITNESSETH

 

WHEREAS, the
Borrower, each Guarantor, the lenders party thereto from time to time (the “Lenders”) and the Administrative
Agent have entered into that certain Credit Agreement dated as of May 25, 2017 as amended, supplemented or otherwise modified prior
to the date hereof (the “Existing Credit Agreement”);

 

WHEREAS, the
Borrower, each Guarantor, certain of the Lenders and the Administrative Agent have agreed to amend the Existing Credit Agreement
as 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 hereto agree as follows:

 

PART 1

DEFINITIONS

 

SUBPART 1.1      Certain
Definitions. The following terms used in this Amendment, including its preamble and recitals, have the following meanings:

 

“Amended
Credit Agreement” means the Existing Credit Agreement as amended hereby.

 

SUBPART 1.         Other
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

 

SUBPART 2.1
The definition of “Subsidiary Guarantor” set forth in Section 1.01 of the Existing Credit Agreement is hereby
amended and restated in its entirety to read as follows:

 

“Subsidiary Guarantor”
means (a) Omega LP and (b) each Domestic Subsidiary of the Borrower which becomes a Subsidiary Guarantor pursuant to Section
6.15(a) hereof.

 

SUBPART 2.2
The following definitions are hereby added to Section 1.01 of the Existing Credit Agreement in the appropriate alphabetical
order:

 

“Beneficial Ownership
Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation.

 

    

     

    

 

“Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230.

 

“First Amendment”
means that certain First Amendment to Credit Agreement, dated as of the First Amendment Effective Date, by and among the Borrower,
Omega LP, the Lenders party thereto and the Administrative Agent.

 

“First Amendment Effective
Date” means February 1, 2019.

 

SUBPART 2.3     Article
V of the Existing Credit Agreement is hereby amended to add a new Section 5.23 immediately following Section 5.22
and to read as follows:

 

5.23 Beneficial Ownership
Certification.

 

As of the First Amendment Effective
Date, the information included in the Beneficial Ownership Certification, if applicable, is true and correct in all respects.

 

SUBPART 2.4      Section
6.15(c) and the immediately following paragraph of the Existing Credit Agreement are hereby amended and restated in their entirety
to read as follows:

 

(c)             Notwithstanding
the requirements set forth in clauses (a) or (b) of this Section 6.15, in the event that any Person acting as a Guarantor
(other than Omega LP) (i) is no longer obligated to provide a guarantee of any Indebtedness of the Borrower for borrowed money
evidenced by bonds, debentures, notes or other similar instruments in an amount of at least $50,000,000 (excluding any amounts
outstanding pursuant to this Credit Agreement, the Bank of America Credit Agreement or the LP Credit Agreement) or (ii) would be
automatically released from its guarantee obligations of any such indebtedness upon its release from the Guaranty or (iii) is sold
to a third-party and such unsecured debt is paid off upon completion of the sale or is agreed to be assumed by and transferred
to such third-party purchaser upon completion of such sale, then such Person shall be automatically released as a party to the
Credit Documents (the “Release”). In such an event, the Borrower will notify the Administrative Agent that,
pursuant to this Section 6.15(c), such Person shall be released and, in accordance with Section 9.11, the Administrative
Agent shall (to the extent applicable) deliver to the Credit Parties such documentation as is reasonably necessary to evidence
the Release.

 

Notwithstanding
the foregoing, (A) as set forth in Section 6.18 below, the Obligations shall remain a senior unsecured obligation,
pari passu with all other senior unsecured Funded Debt of the Borrower, Omega LP and to the extent applicable, any other Subsidiary
Guarantor and (B) to the extent that following any such Release, any Real Property Asset owned by an otherwise released or to be
released Guarantor that is obligated in respect of outstanding recourse debt for Funded Debt shall not be deemed an Unencumbered
Property for purposes of this Agreement.

 

SUBPART 2.5       Section
7.04 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

    	2

     

    

 

7.04         Fundamental Changes.

 

No Credit Party shall, nor shall
they permit any Subsidiary to, directly or indirectly, merge, dissolve, liquidate or consolidate with or into another Person, except
that, so long as no Event of Default exists or would result therefrom and subject to the proviso below, (a) a Credit Party may
merge or consolidate with or into one or more other Credit Parties, (b) any Subsidiary that is not a Credit Party may (i) merge
or consolidate with or into a Credit Party, so long as such Credit Party is the continuing or surviving Person, (ii) merge or consolidate
with or into another Subsidiary that is not a Credit Party, or (iii) may dissolve, liquidate or wind up its affairs at any time,
so long as such dissolution, liquidation or winding up, as applicable, could not reasonably be expected to have a Material Adverse
Effect, or (c) any other merger, dissolution, liquidation, wind up or consolidation that is not specified in clauses (a) or (b)
herein and is not otherwise prohibited pursuant to this Agreement shall be permitted; provided, that (i) if the Borrower
or Omega LP is a party to any merger or consolidation permitted under this Section 7.04 it shall be the continuing or surviving
Person and (ii) in no event shall the Borrower and Omega LP be permitted to merge or consolidate with each other.

 

SUBPART 2.6     Article
VII of the Existing Credit Agreement is hereby amended to add a new Section 7.14 immediately following Section 7.13
and to read as follows:

 

7.14         Other Business or
Activity of the Borrower.

 

The Borrower shall not directly
or indirectly enter into or conduct any business or activity other than (a) in connection with the ownership, acquisition and
disposition of interests in Omega LP, (b) the management of the business of Omega LP, and (c) such business or activity that is
conducted by the Borrower and its Subsidiaries on the date hereof or, in each case, such business or
activity as is reasonably ancillary or incidental thereto (in any case, a “Permitted Activity”); provided,
however, the Borrower shall not own any assets other than (i) interests, rights, options, warrants or convertible or exchangeable
securities of Omega LP, (ii) assets that have been distributed to the Borrower by its Subsidiaries that are held for fifteen (15)
Business Days or less pending further distribution to equity holders of the Borrower or application by the Borrower, as
the case may be, pursuant to a Permitted Activity, (iii) assets received directly or indirectly by the Borrower from third parties
(including, without limitation, the net cash proceeds from any issuance and sale by the Borrower of any equity interests or issuance
of Senior Notes), that are held for fifteen (15) Business Days or less pending further contribution to Omega LP or application
by the Borrower, as the case may be, pursuant to a Permitted Activity, (iv) such bank accounts or similar instruments as it deems
necessary in furtherance of a Permitted Activity or to carry out its responsibilities under the Organization Documents of Omega
LP and (v) other tangible and intangible assets that, taken as a whole, are immaterial in relation to the consolidated assets
of Omega LP and its Subsidiaries, but which shall in no event include any equity interests other than those permitted in clauses
(i) and (iii) of this sentence. Nothing in this Section 7.14 shall prevent the Borrower from (A) the maintenance of its
legal existence or activities reasonably incidental thereto (including, without limitation, the ability to incur fees, costs and
expenses relating to such maintenance), (B) the performance of its obligations with respect to this Credit Agreement and the Credit
Documents executed in connection therewith or any other Borrower Indebtedness, (C) any public offering of its common stock or
any other issuance or sale of its equity interests or issuance of its Senior Notes, (D) the payment of dividends, (E) making contributions
to the capital of Omega LP, (F) participating in tax, accounting and other administrative matters as a member of the Consolidated
Parties, (G) providing indemnification to officers, managers and directors, (H) any activities incidental to compliance with
the Securities Laws and the rules of national securities exchanges and activities incidental to investor relations, shareholder
meetings and reports to shareholders or debtholders and (I) any activities incidental to the foregoing.

 

    	3

     

    

 

SUBPART 2.7       Section
9.11 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

9.11         Guaranty Matters.

 

The Lenders irrevocably authorize
the Administrative Agent, at its option and in its discretion, to release any Person (other than Omega LP) from its obligations
under the Guaranty if (a) such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder or (b) such Person
is no longer required to be a Guarantor pursuant to Section 6.15(c). Upon the release of any Person pursuant to this Section
9.11, the Administrative Agent shall (to the extent applicable) deliver to the Credit Parties, upon the Credit Parties’
request and at the Credit Parties’ expense, such documentation as is reasonably necessary to evidence the release of such
Person from its obligations under the Credit Documents.

 

SUBPART 2.8       The last sentence of
Section 10.22 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

The Borrower shall, promptly
following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative
Agent or such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer”
and anti-money laundering rules and regulations, including the Act and the Beneficial Ownership Certification (if applicable).

 

PART 3

CONDITIONS TO EFFECTIVENESS

 

SUBPART 3.1       First
Amendment Effective Date. This Amendment shall be and become effective as of the First Amendment Effective Date and when all
of the conditions set forth in this Part 3 shall have been satisfied, and thereafter this Amendment shall be known, and
may be referred to, as the “First Amendment”.

 

SUBPART 3.2      Execution
of Counterparts of Amendment. The Administrative Agent shall have received counterparts (or other evidence of execution, including
telephonic message or other electronic imaging means, satisfactory to the Administrative Agent) of this Amendment, which collectively
shall have been duly executed on behalf of the Borrower, each Guarantor, Lenders constituting Required Lenders (as defined in the
Existing Credit Agreement) and the Administrative Agent.

 

SUBPART 3.3      Fees
and Expenses. Payment by the Credit Parties to the Administrative Agent of all fees and expenses relating to the preparation,
execution and delivery of this Amendment which are due and payable on the First Amendment Effective Date.

 

SUBPART 3.4       KYC.
Receipt by the Administrative Agent and each Lender of, in each case, at least five (5) days prior to the First Amendment Effective
Date:

 

    	4

     

    

 

(a)
           all documentation and other information requested by the Administrative Agent or any
Lender under applicable “know your customer” or anti-money laundering rules, regulations or policies, including the
Patriot Act; and

 

(b)             if
applicable, a Beneficial Ownership Certification in relation to each Credit Party that qualifies as a “legal entity customer”
under the Beneficial Ownership Certification.

 

PART 4

MISCELLANEOUS

 

SUBPART 4.1      Construction.
This Amendment is a Credit Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated
therein) be construed, administered and applied in accordance with the terms and provisions of the Amended Credit Agreement.

 

SUBPART 4.2       Representations
and Warranties. Each Credit Party hereby represents and warrants that it: (a) has the requisite corporate power and authority
to execute, deliver and perform this Amendment, and (b) is duly authorized to, and has been authorized by all necessary corporate
action, to execute, deliver and perform this Amendment, (c) after giving effect to this Amendment, the representations and warranties
contained in Article V of the Amended Credit Agreement are true and correct in all material respects on and as of the First Amendment
Effective Date upon giving effect to this Amendment as though made on and as of such date (except for those which expressly relate
to an earlier date) and (d) no Default or Event of Default exists under the Existing Credit Agreement on and as of the First Amendment
Effective Date upon giving effect to this Amendment.

 

SUBPART 4.3      Counterparts.
This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original
and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature
page of this Amendment by facsimile or other electronic means shall be effective as delivery of a manually executed original counterpart
of this Amendment.

 

SUBPART 4.4       Binding
Effect. This Amendment, the Amended Credit Agreement and the other Credit Documents embody the entire agreement between the
parties and supersede all prior agreements and understandings, if any, relating to the subject matter hereof. These Credit Documents
represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements of the parties. Except as expressly modified and amended in this Amendment, all the terms, provisions and conditions
of the Credit Documents shall remain unchanged and shall continue in full force and effect.

 

SUBPART 4.5      GOVERNING
LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SUBPART 4.6     Severability.
If any provision of this Amendment is determined to be illegal, invalid or unenforceable, such provision shall be fully
severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the
illegal, invalid or unenforceable provisions. 

 

SUBPART 4.7      Affirmation.
Except as specifically amended above, the Credit Documents (and all covenants, terms, conditions and agreements therein), shall
remain in full force and effect, and are hereby ratified and confirmed in all respects by the Credit Parties. Each Credit Party
covenants and agrees to comply with all of the terms, covenants and conditions of the Existing Credit Agreement applicable to
it, as otherwise amended hereby, notwithstanding any prior course of conduct, waivers, releases or other actions or inactions
on Lenders’ part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and
conditions. 

 

SUBPART 4.8       No
Waiver. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy
of Lenders, nor constitute a waiver of any provision of any Credit Document or any other documents, instruments and agreements
executed or delivered in connection with any of the foregoing. Nothing herein is intended or shall be construed as a waiver of
any existing Defaults or Events of Default under the Credit Documents or any of Lenders’ rights and remedies in respect
of such Defaults or Events of Default.

 

[SIGNATURE PAGES FOLLOW]

 

    	5

     

    

 

IN WITNESS WHEREOF,
each of the parties hereto has caused a counterpart of this First Amendment to Amended and Restated Credit Agreement to be duly
executed and delivered as of the date first above written.

 

	BORROWER:	OMEGA HEALTHCARE INVESTORS, INC.
	 	 
	 	By	/s/ Daniel J. Booth
	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer
	 	 
	GUARANTOR:	OHI HEALTHCARE PROPERTIES LIMITED
	 	PARTNERSHIP
	 	 
	 	By:	/s/ Daniel J. Booth
	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	ADMINISTRATIVE AGENT:	MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-

 MITSUBISHI UFJ, LTD.),
	 	as Administrative Agent
	 	 
	 	By:	/s/ Lawrence Blat
	 	Name:	Lawrence Blat
	 	Title:	Authorized Signatory

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	LENDERS:	MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-

MITSUBISHI UFJ, LTD.), as a Lender
	 	 
	 	By:	/s/ David Meisner
	 	Name:	David Meisner
	 	Title:	Vice President

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	 	CAPITAL ONE, N.A.,
	 	as a Lender
	 	 	 
	 	By:	/s/ Jason LaGrippe
	 	Name:	Jason LaGrippe
	 	Title:	Duly Authorized Signatory

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	 	UMB BANK, N.A.,
	 	as a Lender
	 	 	 
	 	By:	/s/ Cory Miller
	 	Name:	Cory Miller
	 	Title:	Senior Vice President

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	 	REGIONS BANK,
	 	as a Lender
	 	 	 
	 	By:	/s/ Steven W. Mitchell
	 	Name:	Steven W. Mitchell
	 	Title:	Senior Vice President

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	 	TAIWAN COOPERATIVE BANK, LTD., SEATTLE

BRANCH,
	 	as a Lender
	 	 	 
	 	By:	/s/ Guey-Fang Cheng
	 	Name:	Guey-Fang Cheng
	 	Title:	VP & Deputy General Manager

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

 

    

     

    

 

	 	BOKF, N.A. DBA BANK OF TEXAS, 
	 	as a Lender
	 	 	 
	 	By:	/s/ Chris Trigger
	 	Name:	Chris Trigger
	 	Title:	Vice President

 

OMEGA
HEALTHCARE INVESTORS, INC.

FIRST
AMENDMENT TO A&R CREDIT AGREEMENT

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