Document:

Ex10194

		
			Exhibit 10.19.4
		

		
			EXECUTION COPY
		

		
			AMENDMENT NO. 4
		

		
			Dated as of November 24, 2014
		

		
			to
		

		
			CREDIT AGREEMENT
		

		
			Dated as of March 11, 2011
		

		
			THIS AMENDMENT NO. 4 (this “Amendment”) is made as of November 24, 2014 by and among HCP, Inc., a Maryland corporation (the “Borrower”), the financial institutions listed on the signature pages hereof and Bank of America, N.A., as Administrative Agent (in such capacity, the “Administrative Agent’) and as Alternative Currency Fronting Lender (in such capacity, the “Alternative Currency Fronting Lender”), under that certain Credit Agreement dated as of March 11, 2011 by and among the Borrower, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement.
		

		
			WHEREAS, the Borrower has requested that the Lenders, the Alternative Currency Fronting Lender and the Administrative Agent agree to an amendment to the Credit Agreement; and
		

		
			WHEREAS, the Borrower, the Lenders, the Alternative Currency Fronting Lender and the Administrative Agent have so agreed on the terms and conditions set forth herein;
		

		
			NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders, the Alternative Currency Fronting Lender and the Administrative Agent hereby agree to enter into this Amendment.
		

			
	
			
				 1.
			Amendment to the Credit Agreement.  Effective as of the Amendment No. 4 Effective Date (as defined below), the parties hereto agree that the Credit Agreement is hereby amended as follows:

			
	
			
				 (a)
			Section 1.01 of the Credit Agreement is amended to add the following definitions thereto in the appropriate alphabetical order, and, where applicable, replace the corresponding previously existing definitions:

		
			“Alternative Currency Sublimit” means, at any time, an amount equal to the lesser of (a) the Aggregate Revolving Commitments at such time and (b) (i) at any time during the period beginning on the Amendment No. 4 Effective Date and ending on and including the date that six (6) months after the Amendment No. 4 Effective Date, $1,250,000,000 and (ii) at any time thereafter, $1,000,000,000.  The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.
		

		
			“Amendment No. 4 Effective Date” means November 24, 2014.
		

		 

		

			204311487v.4

		

 

			
	
			
				 (b)
			Section 3.01 of the Credit Agreement is amended to add a new clause (g) thereto to read as follows:

		
			(g)FATCA.  From and after the Amendment No. 4 Effective Date, the Borrower shall indemnify the Administrative Agent, and hold it harmless from, any and all losses, claims, damages, liabilities and related expenses, including Taxes and the fees, charges and disbursements of any counsel for any of the foregoing, arising in connection with the Administrative Agent’s treating, for purposes of determining withholding Taxes imposed under FATCA, this Agreement as qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
		

			
	
			
				 (c)
			Schedule 2.02 to the Credit Agreement is amended and restated in its entirety in the form of Schedule 2.02 attached hereto.

			
	
			
				 2.
			Conditions of Effectiveness.  The effectiveness of this Amendment (the “Amendment No. 4 Effective Date”) is subject to the conditions precedent that:

			
	
			
				 (a)
			the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Required Lenders, the Alternative Currency Fronting Lender and the Administrative Agent; and

			
	
			
				 (b)
			the Administrative Agent shall have received payment of all fees and expenses (including fees and expenses of counsel for the Administrative Agent) due and payable in connection with this Amendment.

			
	
			
				 3.
			Representations and Warranties of the Borrower.  The Borrower hereby represents and warrants as follows:

			
	
			
				 (a)
			This Amendment and the Credit Agreement as modified hereby constitute legal, valid and binding obligations of the Borrower and are enforceable against the Borrower in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

			
	
			
				 (b)
			As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default has occurred and is continuing, and (ii) the representations and warranties of the Borrower set forth in Article V of the Credit Agreement as amended hereby or in any other Loan Document are true and correct in all material respects (or, in the case of any representation or warranty qualified by materiality or Material Adverse Effect, in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement are deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit Agreement.

			
	
			
				 4.
			Reference to and Effect on the Credit Agreement.

			
	
			
				 (a)
			Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby.

		 

		

			 

		

		

			2

		

 

			
	
			
				 (b)
			Each Loan Document and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.  Upon the effectiveness hereof, this Amendment shall for all purposes constitute a Loan Document.

			
	
			
				 (c)
			Except with respect to the subject matter hereof, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the other Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith.

			
	
			
				 5.
			Governing Law.  This Amendment shall be construed in accordance with and governed by the law of the State of New York.

			
	
			
				 6.
			Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

			
	
			
				 7.
			Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person.

		
			[Signature Pages Follow]
		

		
			 
		

		

		

		 

		

			 

		

		

			3

		

 

		 
		

		
			IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						HCP, INC.,

					
						as the Borrower

				
	
					
						 

				
	
					
						 

				
	
					
						By:

					
					
						/s/ Timothy M. Schoen

					
					
						 

				
	
					
						Name:

					
					
						Timothy M. Schoen

				
	
					
						Title:

					
					
						Executive Vice President and

					
						Chief Financial Officer

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						BANK OF AMERICA, N.A.,

					
						individually as a Lender, as Alternative Currency

					
						Fronting Lender and as Administrative Agent

				
	
					
						 

				
	
					
						 

				
	
					
						By:

					
					
						/s/ Joseph L. Corah

					
					
						 

				
	
					
						Name:

					
					
						Joseph L. Corah   

				
	
					
						Title:

					
					
						Director

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						Name of Lender: Royal Bank of Canada

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Joshua Freedman

					
					
						 

				
	
					
						 

					
					
						Name:  Joshua Freedman   

				
	
					
						 

					
					
						Title:    Authorized Signatory

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Goldman Sachs Bank USA

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Michelle Latzoni

					
					
						 

				
	
					
						 

					
					
						Name:  Michelle Latzoni   

				
	
					
						 

					
					
						Title:    Authorized Signatory

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender: The Royal Bank of Scotland PLC

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Jeannine Pascal

					
					
						 

				
	
					
						 

					
					
						Name:  Jeannine Pascal   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Barclays Bank PLC

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Christine Aharonian

					
					
						 

				
	
					
						 

					
					
						Name:  Christine Aharonian   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						City National Bank,
a national banking association

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ John Finnigan

					
					
						 

				
	
					
						 

					
					
						John Finnigan   

				
	
					
						 

					
					
						Senior Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						The Bank of Tokyo-Mitsubishi UFJ, Ltd.

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Teuta Ghilaga

					
					
						 

				
	
					
						 

					
					
						Name:  Teuta Ghilaga   

				
	
					
						 

					
					
						Title:    Director

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						The Bank of Nova Scotia

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Winston Lua

					
					
						 

				
	
					
						 

					
					
						Name:  Winston Lua   

				
	
					
						 

					
					
						Title:    Director

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Branch Banking and Trust Company

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Ahaz Armstrong

					
					
						 

				
	
					
						 

					
					
						Name:  Ahaz Armstrong   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Morgan Stanley Bank, N.A.

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Nick Zangari

					
					
						 

				
	
					
						 

					
					
						Name:  Nick Zangari   

				
	
					
						 

					
					
						Title:    Authorized Signatory

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						The Bank of New York Mellon

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Helga Blum

					
					
						 

				
	
					
						 

					
					
						Name:  Helga Blum   

				
	
					
						 

					
					
						Title:    Managing Director

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						United Community Bank

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Dwight Seeley

					
					
						 

				
	
					
						 

					
					
						Name:  Dwight Seeley   

				
	
					
						 

					
					
						Title:    Senior Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						UBS AG, Stamford Branch

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Lana Gifas

					
					
						 

				
	
					
						 

					
					
						Name:  Lana Gifas   

				
	
					
						 

					
					
						Title:    Director

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Jennifer Anderson

					
					
						 

				
	
					
						 

					
					
						Name:   Jennifer Anderson

				
	
					
						 

					
					
						Title:     Associate Director

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						KeyBank, N.A.

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Joe Schober

					
					
						 

				
	
					
						 

					
					
						Name:  Joe Schober   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						SunTrust Bank

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Joshua Turner

					
					
						 

				
	
					
						 

					
					
						Name:  Joshua Turner   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						JPMorgan Chase Bank, N.A.

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Nadeige Dang

					
					
						 

				
	
					
						 

					
					
						Name:  Nadeige Dang   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Wells Fargo Bank, National

					
						Association

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Andrea S Chen

					
					
						 

				
	
					
						 

					
					
						Name:  Andrea S Chen   

				
	
					
						 

					
					
						Title:    Director

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Citibank, N.A.

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ John C. Rowland

					
					
						 

				
	
					
						 

					
					
						Name:  John C. Rowland   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						U.S. Bank, National Association,

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Patrick J. Brown

					
					
						 

				
	
					
						 

					
					
						Name:  Patrick J. Brown   

				
	
					
						 

					
					
						Title:    Vice President

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Credit Suisse, AG, Cayman Islands

					
						Branch

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Mikhail Faybusovich

					
					
						 

				
	
					
						 

					
					
						Name:  Mikhail Faybusovich   

				
	
					
						 

					
					
						Title:    Authorized Signatory

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						For any Lender requiring a second signature line:

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Samuel Miller

					
					
						 

				
	
					
						 

					
					
						Name:    Samuel Miller

				
	
					
						 

					
					
						Title:      Authorized Signatory

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		 
		

		
			 
		

			
					
						`

					
					
						 

					
					
						 

				
	
					
						Name of Lender:

				
	
					
						 

				
	
					
						Credit Agricole Corporate and

					
						Investment Bank

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Thomas Randolph

					
					
						 

				
	
					
						 

					
					
						Name:  Thomas Randolph

				
	
					
						 

					
					
						Title:    Managing Director

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						 

				
	
					
						By

					
					
						/s/ Amy Trapp

					
					
						 

				
	
					
						 

					
					
						Name:   Amy Trapp

				
	
					
						 

					
					
						Title:     Managing Director

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Amendment No. 4 to

		

		

			Credit Agreement dated as of March 11, 2011

		

		

			HCP, Inc.

		

 

		SCHEDULE 2.02
		

		
			ALTERNATIVE CURRENCY
PARTICIPATING LENDER1  
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Lender

					
					
						Euro

					
					
						Sterling

					
					
						Yen

					
					
						Canadian Dollars

					
					
						Australian Dollars

					
					
						Swiss Francs

				
	
					
						Bank of America, N.A.

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						JPMorgan Chase Bank, N.A.

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Citibank, N.A.

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						UBS AG, Stamford Branch

					
					
						Yes

					
					
						Yes

					
					
						Yes 

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Wells Fargo Bank, National Association

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Credit Agricole Corporate and Investment Bank

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Credit Suisse AG, Cayman Islands Branch

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Goldman Sachs Bank USA

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Morgan Stanley Bank, N.A.

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Royal Bank of Canada

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						The Royal Bank of Scotland plc

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Barclays Bank plc

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						The Bank of New York Mellon

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						The Bank of Nova Scotia

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						The Bank of Tokyo-Mitsubishi UFJ, Ltd.

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						PNC Bank, National Association

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						SunTrust Bank

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Regions Bank

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						KeyBank National Association

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Branch Banking & Trust Company

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						U.S. Bank National Association

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						City National Bank

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

					
					
						Yes

				
	
					
						Bank Hapoalim B.M.

					
					
						No

					
					
						No

					
					
						No

					
					
						No

					
					
						No

					
					
						No

				
	
					
						United Community Bank

					
					
						No

					
					
						No

					
					
						No

					
					
						No

					
					
						No

					
					
						No

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

				
	
					
						 

				

		
			1  The table indicates each Lender’s ability to fund in a particular currency (e.g., Bank of America, N.A. can fund each of the six currencies).Ex10221

		
			Exhibit 10.22.1
		

		
			HCP, Inc.
		

		
			1920 Main Street, Suite 1200
		

		
			Irvine, CA 92614
		

		
			Attention: General Counsel 
		

		
			 
		

		
			December 29, 2014
		

		
			 
		

		
			Re: First Amendment to Amended and Restated Master Lease and Security Agreement and Option Exercise Notice
		

		
			 
		

		
			Dear Sir or Madam: 
		

		
			 
		

		
			Reference is made to that certain Amended and Restated Master Lease and Security Agreement (the “NNN Lease”), dated as of August 29, 2014, by and among the Lessors identified therein  (“Lessors”), and Emeritus Corporation, Summerville at Hazel Creek, LLC, and Summerville at Prince William, Inc., as Lessees (each, a “Lessee”).  Capitalized terms used herein and not defined shall have the meanings ascribed to such terms in the NNN Lease.  
		

		
			 
		

		
			Pursuant to Section 31.4 of the NNN Lease,  each Lessee has been granted a purchase option with respect to certain Facilities identified on Schedule 31.4 to the NNN Lease.  The parties hereto agree that this letter (this “Notice and Amendment”)  shall serve as the Option Exercise Notice as described in Section 31.4.1 of the NNN Lease.  
		

		
			 
		

		
			The parties hereto hereby agree that the NNN Lease shall be amended hereby to delete Schedule 31.4 and to insert in lieu thereof Schedule 1 attached hereto (as so amended, “Modified Schedule 31.4”).  In accordance with the terms of Section 31.4, the Lessees hereby notify you that (i) the Lessees have opened escrow with First American Title Company (“Escrow Agent”) by delivery of this letter, together with a copy of the NNN Lease, on December 30, 2014 and (ii) the Lessees hereby exercise their respective rights to acquire each of the nine (9) Facilities set forth on Modified Schedule 31.4 for an aggregate purchase price equal to $60,000,000.  The allocated purchase price and attendant rent reduction for each such Facility is set forth on Modified Schedule 31.4.    Lessors shall, as soon as reasonably practicable following the consummation of the transactions contemplated hereby, reallocate any rent currently allocated to the Facilities and not reduced pursuant to Modified Schedule 31.4 to the remaining Facilities in the NNN Lease, and shall notify Lessees of such reallocation in writing.  The parties hereto agree that the real property and FF&E allocations for each Facility shall be as set forth on Schedule 2 attached hereto. 
		

		
			 
		

		
			The parties hereto agree that,  provided no Event of Default arising as a result of the failure to pay Minimum Rent has occurred and is continuing hereunder, the consummation of the acquisition of the Facilities set forth on Modified Schedule 31.4 by the Lessees (or by any designee, at such Lessee’s written direction) shall occur, with respect to each such Facility, by release of the purchase price and transfer documents from escrow on December 31, 2014, with effect as of January 1, 2015.  Notwithstanding the foregoing, if all required regulatory approvals for any such Facility shall not have been obtained prior to December 31, 2014, the Lessees shall give notice thereof to Lessors prior to December 31, 2014, and the consummation of the acquisition 
		

		 

		

			 

		

		

			 

		

 

		of such Facility by the applicable Lessee (or its designee) shall occur on any date specified in a later notice given by the Lessees to Lessor not less than five (5) Business Days prior to such specified date, provided, however, that the consummation of the acquisition of such Facility shall in any event occur prior to the expiration of the NNN Lease term, including any applicable extensions thereto,  and if the consummation of the acquisition of such Facility does not occur by such date, the option for such facility referenced in this letter shall be deemed terminated.  The parties hereto agree that Section 31.4.4 of the NNN Lease is hereby deleted in its entirety.
		

		
			 
		

		
			As required by Section 31.4 of the NNN Lease, attached hereto as Exhibit A is a Reaffirmation of the Guaranty.  
		

		
			 
		

		
			As amended by this Notice and Amendment, the terms and provisions of the NNN Lease are hereby ratified and confirmed in all respects.    The parties hereto acknowledge, agree and reaffirm that (i) except as otherwise expressly provided in the NNN Lease (as hereby amended) to the contrary and for the limited purposes so provided, the NNN Lease (as hereby amended) is and the parties intend the same for all purposes to be treated as a single, integrated and indivisible agreement and economic unit, and (ii) except as otherwise required by Legal Requirements or any accounting rules or regulations, the NNN Lease (as hereby amended) shall be treated as an operating lease for all purposes and not as a synthetic lease, financing lease or loan, and Lessors shall be entitled to all the benefits of ownership of the Leased Property, including depreciation for all federal, state and local tax purposes.
		

		
			 
		

		
			[Remainder of page intentionally left blank]
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			2
		

		

		

		 

		

			 

		

		

			 

		

 

		Please confirm your agreement with the terms of this Notice and Amendment by executing this Notice and Amendment in the space provided below and returning the fully executed document to the undersigned.
		

		
			 
		

		
			Best, 
		

		
			 
		

		
			/s/ Todd Kaestner
		

		
			 
		

		
			Todd Kaestner
		

		
			 
		

		
			 
		

		
			 
		

		
			Cc: 
		

		
			Paul, Weiss, Rifkind, Wharton & Garrison LLP
		

		
			1285 Avenue of the Americas 
		

		
			New York, NY 10019-6064
		

		
			Attention: Harris B. Freidus, Esq. and Salvatore Gogliormella, Esq.
		

		
			 
		

		
			Skadden, Arps, Slate, Meagher & Flom, LLP
		

		
			155 N. Wacker Drive
		

		
			Suite 2700
		

		
			Chicago, IL 60606
		

		
			Attention: Nancy Olson, Esq.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			3
		

		
			 
		

		

		

		 

		

			 

		

		

			 

		

 

		Acknowledged and Agreed by:
		

		
			 
		

		
			
HCP, INC. 
		

		
			 
		

		
			 
		

		
			 
		

		
			By: /s/ Kendall K. Young_____
		

		
			Name: Kendall K. Young______
		

		
			Its: ___Executive Vice President
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			4
		

		

		

		 

		

			 

		

		

			 

		

 

		Schedule 1
		

		
			Purchase Option Properties
		

		
			 
		

		
			 
		

			
					
						Property

					
					
						Purchase Price

					
					
						Rent Reduction

				
	
					
						Osprey Court, Emeritus at

					
					
						[***]

					
					
						[***]

				
	
					
						Snohomish, Emeritus at

					
					
						[***]

					
					
						[***]

				
	
					
						Hemet, Emeritus at

					
					
						[***]

					
					
						[***]

				
	
					
						Lynnwood, Emeritus at

					
					
						[***]

					
					
						[***]

				
	
					
						Stone Mountain

					
					
						[***]

					
					
						[***]

				
	
					
						Eldorado Heights

					
					
						[***]

					
					
						[***]

				
	
					
						Dry Creek

					
					
						[***]

					
					
						[***]

				
	
					
						Heritage, Emeritus at The

					
					
						[***]

					
					
						[***]

				
	
					
						Peachtree Village, Emeritus at

					
					
						[***]

					
					
						[***]

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.
		

		
			 
		

		
			5
		

		
			 
		

		

		

		 

		

			 

		

 

		Schedule 2
		

		
			Real Property and FF&E Allocations
		

		
			 
		

			
					
						Property

					
					
						Purchase Price

					
					
						Real Property Allocation

					
					
						FF&E Allocation

				
	
					
						Osprey Court, Emeritus at

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Snohomish, Emeritus at

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Hemet, Emeritus at

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Lynnwood, Emeritus at

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Stone Mountain

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Eldorado Heights

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Dry Creek

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Heritage, Emeritus at The

					
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						Peachtree Village, Emeritus at

					
					
						[***]

					
					
						[***]

					
					
						[***]

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission.
		

		
			 
		

		
			6
		

		
			 
		

		

		

		 

		

			 

		

 

		Exhibit A
		

		
			 
		

		
			Guaranty Reaffirmation
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			7
		

		

		

		 

		

			 

		

		

			 

		

 

		HCP, Inc.
1920 Main Street, Suite 1200
Irvine, CA 92614
Attention: General Counsel
		

		
			December 29, 2014
		

		
			Dear Sir or Madam:
		

		
			Reference is made to that certain Amended and Restated Master Lease and Security Agreement (the “NNN Lease”), dated as of August 29, 2014, by and among the Lessors identified therein (“Lessors”), and Emeritus Corporation, Summerville at Hazel Creek, LLC, and Summerville at Prince William, Inc., as Lessees (each, a “Lessee”). Capitalized terms used herein and not defined shall have the meanings ascribed to such terms in the NNN Lease.
		

		
			Pursuant to Section 31.4 of the NNN Lease, each Lessee has been granted a purchase option with respect to certain Facilities identified on Schedule 31.4 to the NNN Lease, as amended by that certain Notice and Amendment dated as of the date hereof (the “Notice and Amendment”). The Notice and Amendment served as the Option Exercise Notice as described in Section 31.4.1 of the NNN Lease.
		

		
			Pursuant to the Notice and Amendment, Brookdale will acquire certain facilities from HCP effective as of January 1, 2015. Brookdale hereby notifies HCP that (i) the required regulatory approvals (the “Required Approvals”) for the Facility known as Emeritus at The Heritage (the “Heritage Facility”) will not be obtained on or prior to December 31, 2014 and (ii) Brookdale shall not acquire the Heritage Facility until such time as the Required Approvals are obtained. Pursuant to the terms of the Notice and Amendment, and notwithstanding the terms of  Section 34.1 of the NNN Lease, Brookdale will notify HCP by separate written notice, not less than five (5) business days prior to the proposed acquisition date for the Heritage Facility, which in any event shall not occur until the Required Approvals have been obtained, and the parties shall consummate the acquisition promptly following the delivery of such notice.
		

		
			Best,
		

		
			/s/ Todd Kaestner
		

		
			Todd Kaestner
		

		
			Cc:
Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the Americas
New York, NY 10019-6064
Attention: Harris B. Freidus, Esq. and Salvatore Gogliormella, Esq.
		

		
			Skadden, Arps, Slate, Meagher & Flom, LLP
155 N. Wacker Drive
Suite 2700
Chicago, IL 60606
Attention: Nancy Olson, Esq.
		

		

		

		 

		

			 

		

		

			 

		

		

			 

		

 

		Acknowledged and Agreed by:
		

		
			HCP, INC.
		

		
			By:/s/ Kendall K. Young
Name:Kendall K. Young
Its: Executive Vice President
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			2
		

		
			 
		

		

		

		 

		

			 

		

		

			 

		

		

			 

		

 

		

			 

		

		GUARANTY REAFFIRMATION
		

		
			 
		

		
			This Guaranty Reaffirmation (this “Reaffirmation”) is made and entered into as of December 29, 2014, by Brookdale Senior Living Inc. as “Guarantor”  (“Guarantor”), in favor of each of the entities identified as a “Lessor” on Schedule I (each, a “Lessor”). 
		

		
			 
		

		
			RECITALS
		

		
			 
		

			
	
			
				 1.
			Each Lessor is a “Lessor”, and each Lessee identified on Schedule I as such is a “Lessee” under that certain Amended and Restated Master Lease and Security Agreement, dated as of August 29, 2014, by and among the Lessors and Lessees (the “NNN Lease”). 

		
			 
		

			
	
			
				 2.
			Guarantor has guaranteed Lessee’s obligations under NNN Lease pursuant to that certain Guaranty of Obligations dated as of August 29, 2014 (the “Original Guaranty”).

		
			 
		

			
	
			
				 3.
			Pursuant to Section 31.4 of the NNN Lease, the Lessees have exercised their rights to acquire certain of the Facilities (as such term is defined in the NNN Lease) (the “Purchase Option”). 

		
			 
		

			
	
			
				 4.
			As a condition to the effectiveness of Lessee’s exercise of the Purchase Option, Guarantor is required to reaffirm its obligations under the Original Guaranty, including with respect to Lessee’s payment and performance obligations in connection with the consummation of the transactions contemplated by the Purchase Option. 

		
			 
		

		
			AGREEMENT
		

		
			 
		

		
			NOW THEREFORE, in consideration of the foregoing Recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor, intending to be legally bound, hereby agrees for the benefit of the Lessors as follows:
		

		
			 
		

			
	
			
				 1.
			Reaffirmation. Guarantor hereby (i) reaffirms all of its obligations under the Original Guaranty, including with respect to Lessee’s payment and performance obligations in connection with the consummation of the transactions contemplated by the Purchase Option, (ii) ratifies and confirms that all of the terms, covenants, indemnifications and other provisions set forth in the Original Guaranty remain in full force and effect without impairment in any respect, and (iii) represents and warrants that it has full power, authority and legal right to execute and deliver this Reaffirmation. 

		
			 
		

			
	
			
				 2.
			Fees and Costs. Guarantor shall promptly pay upon demand the out of pocket attorney’s fees and expenses incurred by Lessors and their affiliates in connection with this Reaffirmation. 

		
			 
		

			
	
			
				 3.
			Electronic Signatures. Telecopied signatures or signatures delivered via electronic mail in portable document format (.pdf) may be used in place of original signatures on this 

		

		

		 

		

			 

		

		

			 

		

 

		

			 

		

		Reaffirmation, and Lessees and Guarantor intend to be bound by the signatures of the telecopied or emailed document. 
		

		
			 
		

		
			[Signature Pages Follow]
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			2
		

		
			 
		

		

		

		 

		

			 

		

		

			 

		

 

		

			 

		

		IN WITNESS WHEREOF, Guarantor shall cause this Reaffirmation  to be executed as of the date first above written. 
		

		
			 
		

		
			 
		

		
			 
		

		
			GUARANTOR:
		

		
			 
		

		
			Brookdale Senior Living Inc., a Delaware corporation
		

		
			 
		

		
			By: /s/ H. Todd Kaestner_________
		

		
			Name: Todd Kaestner
		

		
			Title: Executive Vice President—Corporate Development
		

		
			 
		

		

		

		 

		

			[Signature Page to Guaranty Reaffirmation]

		

		

			 

		

 

		

			 

		

		 
		

		
			SCHEDULE I
		

		
			Lessors and Lessees
		

		
			 
		

		
			 
		

		
			Lessees:
		

		
			Emeritus Corporation
		

		
			Summerville at Hazel Creek, LLC
		

		
			Summerville at Prince William, Inc.
		

		
			 
		

		
			Lessors:
		

		
			HCP AUR1 California A Pack, LLC
		

		
			HCP EMOH, LLC
		

		
			HCP Hazel Creek, LLC
		

		
			HCP MA2 California, LP
		

		
			HCP MA2 Massachusetts, LP
		

		
			HCP MA2 Ohio, LP
		

		
			HCP MA2 Oklahoma, LP
		

		
			HCP MA3 California, LP
		

		
			HCP MA3 South Carolina, LP
		

		
			HCP MA3 Washington, LP
		

		
			HCP Partners, LP
		

		
			HCP Senior Housing Properties Trust
		

		
			HCP SH Eldorado Heights LLC
		

		
			HCP SH ELP1 Properties, LLC
		

		
			HCP SH ELP2 Properties, LLC
		

		
			HCP SH ELP3 Properties, LLC
		

		
			HCP SH Lassen House, LLC
		

		
			HCP SH Mountain Laurel, LLC
		

		
			HCP SH Mountain View, LLC
		

		
			HCP SH River Valley Landing, LLC
		

		
			HCP SH Sellwood Landing, LLC
		

		
			HCP ST1 Colorado, LP
		

		
			HCP, Inc. 
		

		
			HCPI Trust
		

		
			 
		

		
			 
		

		 

		

			[Schedule I]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]