Document:

Exhibit 10.1

 

[EXECUTION VERSION]

 

 

 

Published CUSIP
Number: 68209GAF7

 

CREDIT AGREEMENT

 

Dated as of December 27, 2013

 

among

 

OMEGA HEALTHCARE INVESTORS, INC.,

as Borrower

 

CERTAIN SUBSIDIARIES OF THE BORROWER

REFERRED TO HEREIN AS GUARANTORS,

 

THE LENDERS PARTY HERETO,

 

BANK OF AMERICA, N.A.,

as Administrative Agent,

 

and

 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

as Sole Lead Arranger and Sole Book Manager

 

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	Article and Section	 	Page

 

	ARTICLE I DEFINITIONS AND ACCOUNTING TERMS	1
	1.01	Defined Terms.	1
	1.02	Interpretive Provisions.	29
	1.03	Accounting Terms.	30
	1.04	Rounding.	31
	1.05	References to Agreements and Laws.	31
	1.06	Times of Day; Rates.	31
	 	 	 
	ARTICLE II COMMITMENTS AND EXTENSION OF CREDITS	31
	2.01	Commitments.	31
	2.02	Borrowings, Conversions and Continuations.	33
	2.03	Repayment of Loans.	35
	2.04	Prepayments.	35
	2.05	Termination or Reduction of Commitments.	35
	2.06	Interest.	36
	2.07	Fees.	36
	2.08	Computation of Interest and Fees.	37
	2.09	Payments Generally.	37
	2.10	Sharing of Payments.	39
	2.11	Evidence of Debt.	40
	2.12	Defaulting Lenders.	40
	 	 	 
	ARTICLE III  TAXES, YIELD PROTECTION AND ILLEGALITY	41
	3.01	Taxes.	41
	3.02	Illegality.	43
	3.03	Inability to Determine Rates.	43
	3.04	Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Loans.	44
	3.05	Funding Losses.	45
	3.06	Matters Applicable to all Requests for Compensation.	45
	3.07	Survival.	45
	 	 	 
	ARTICLE IV CONDITIONS PRECEDENT TO EXTENSION OF CREDITS	46
	4.01	Conditions to Initial Extensions of Credit.	46
	4.02	Conditions to Extensions of Credit.	48
	 	 	 
	ARTICLE V REPRESENTATIONS AND WARRANTIES	49
	5.01	Financial Statements; No Material Adverse Effect.	49
	5.02	Corporate Existence and Power.	50
	5.03	Corporate and Governmental Authorization; No Contravention.	50
	5.04	Binding Effect.	50
	5.05	Litigation.	50
	5.06	Compliance with ERISA.	51
	5.07	Environmental Matters.	51
	5.08	Margin Regulations; Investment Company Act.	52
	5.09	Compliance with Laws.	52

 

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	5.10	Ownership of Property; Liens.	53
	5.11	Corporate Structure; Capital Stock, Etc.	53
	5.12	Labor Matters.	53
	5.13	No Default.	53
	5.14	Solvency.	53
	5.15	Taxes.	54
	5.16	REIT Status.	54
	5.17	Insurance.	54
	5.18	Intellectual Property; Licenses, Etc.	54
	5.19	Disclosure.	54
	 	 	 
	ARTICLE VI AFFIRMATIVE COVENANTS	55
	6.01	Financial Statements.	55
	6.02	Certificates; Other Information.	56
	6.03	Preservation of Existence and Franchises.	58
	6.04	Books and Records.	58
	6.05	Compliance with Law.	58
	6.06	Payment of Taxes and Other Indebtedness.	58
	6.07	Insurance.	59
	6.08	Maintenance of Property.	59
	6.09	Performance of Obligations.	59
	6.10	Visits and Inspections.	59
	6.11	Use of Proceeds/Purpose of Loans.	60
	6.12	Financial Covenants.	60
	6.13	Environmental Matters; Preparation of Environmental Reports.	61
	6.14	REIT Status.	61
	6.15	Additional Guarantors; Withdrawal or Addition of Unencumbered Properties; Release of Guarantors.	61
	6.16	Anti-Terrorism Laws.	62
	6.17	Compliance With Material Contracts.	63
	6.18	Designation as Senior Debt.	63
	6.19	Post Closing.	63
	 	 	 
	ARTICLE VII NEGATIVE COVENANTS	63
	7.01	Liens.	63
	7.02	Indebtedness.	65
	7.03	Investments.	66
	7.04	Fundamental Changes.	66
	7.05	Dispositions.	67
	7.06	Change in Nature of Business.	68
	7.07	Transactions with Affiliates and Insiders.	68
	7.08	Organization Documents; Fiscal Year; Legal Name, State of Formation and Form of Entity.	68
	7.09	Negative Pledges.	68
	7.10	Use of Proceeds.	69
	7.11	Prepayments of Indebtedness.	69
	7.12	Stock Repurchases.	69
	7.13	Sanctions.	69

 

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	ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES	69
	8.01	Events of Default.	69
	8.02	Remedies Upon Event of Default.	72
	8.03	Application of Funds.	72
	 	 	 
	ARTICLE IX ADMINISTRATIVE AGENT	73
	9.01	Appointment and Authorization of Administrative Agent.	73
	9.02	Delegation of Duties.	74
	9.03	Liability of Administrative Agent.	74
	9.04	Reliance by Administrative Agent.	74
	9.05	Notice of Default.	75
	9.06	Credit Decision; Disclosure of Confidential Information by Administrative Agent.	75
	9.07	Indemnification of Administrative Agent.	76
	9.08	Administrative Agent in its Individual Capacity.	76
	9.09	Successor Administrative Agent.	77
	9.10	Administrative Agent May File Proofs of Claim.	77
	9.11	Guaranty Matters.	78
	9.12	Other Agents; Arrangers and Managers.	78
	 	 	 
	ARTICLE X MISCELLANEOUS	79
	10.01	Amendments, Etc.	79
	10.02	Notices and Other Communications; Facsimile Copies.	80
	10.03	No Waiver; Cumulative Remedies.	82
	10.04	Attorney Costs, Expenses and Taxes.	83
	10.05	Indemnification.	83
	10.06	Payments Set Aside.	84
	10.07	Successors and Assigns.	84
	10.08	Confidentiality.	87
	10.09	Set-off.	88
	10.10	Interest Rate Limitation.	89
	10.11	Counterparts.	89
	10.12	Integration.	89
	10.13	Survival of Representations and Warranties.	90
	10.14	Severability.	90
	10.15	Tax Forms.	90
	10.16	Replacement of Lenders.	92
	10.17	No Advisory or Fiduciary Responsibility.	92
	10.18	Source of Funds.	93
	10.19	GOVERNING LAW.	93
	10.20	WAIVER OF RIGHT TO TRIAL BY JURY.	94
	10.21	No Conflict.	94
	10.22	USA Patriot Act Notice.	95
	10.23	Entire Agreement.	95
	 	 	 
	ARTICLE XI GUARANTY	95
	11.01	The Guaranty.	95
	11.02	Obligations Unconditional.	96

 

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	11.03	Reinstatement.	97
	11.04	Certain Waivers.	97
	11.05	Rights of Contribution.	98
	11.06	Guaranty of Payment; Continuing Guaranty.	98
	11.07	Keepwell.	98

 

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SCHEDULES

 

	2.01	Lenders and Commitments
	5.11 	Corporate Structure; Capital Stock
	6.19	Post Closing
	7.01	Liens
	7.02	Indebtedness
	7.03	Investments
	7.09	Negative Pledges
	10.02	Notice Addresses

 

EXHIBITS

 

	A	Form of Loan Notice
	B	Form of Term Note
	C	Form of Compliance Certificate
	D	Form of Assignment and Assumption
	E	Form of Subsidiary Guarantor Joinder Agreement
	F	Form of Lender Joinder Agreement

 

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CREDIT AGREEMENT

 

This CREDIT AGREEMENT
(as amended, modified, restated or supplemented from time to time, this “Credit Agreement” or this “Agreement”)
is entered into as of December 27, 2013 by and among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Borrower”)
certain subsidiaries of the Borrower identified herein, as Guarantors, the Lenders (as defined herein), and BANK OF AMERICA, N.A.,
as Administrative Agent (as defined herein).

 

WHEREAS, the Borrower
has requested that the Term Loan Lenders hereunder provide a term loan facility in the amount of $200,000,000 (the “Term
Loan Facility”), which Term Loan Facility may be increased to an aggregate amount of $400,000,000;

 

WHEREAS, to provide
assurance for the repayment of the Loans hereunder and the other Obligations of the Credit Parties, the Borrower will, among other
things, provide or cause to be provided to the Administrative Agent, for the benefit of the holders of the Obligations so guaranteed,
a guaranty of the Obligations by each of the Guarantors pursuant to Article XI hereof;

 

WHEREAS, subject
to the terms and conditions set forth herein, the Administrative Agent is willing to act as administrative agent for the Lenders,
and each of the Term Loan Lenders is willing to make Term Loans as provided herein in an aggregate amount at any one time outstanding
not in excess of such Term Loan Lender’s Term Loan Commitment hereunder.

 

NOW, THEREFORE,
in consideration of these premises and the mutual covenants and agreements contained herein, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto covenant and agree as follows:

 

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

 

1.01       Defined
Terms.

 

As used in this Credit
Agreement, the following terms have the meanings set forth below (such meanings to be equally applicable to both the singular and
plural forms of the terms defined):

 

“Acquisition”
with respect to any Person, means the purchase or acquisition by such Person of any Capital Stock in or any asset of another Person,
whether or not involving a merger or consolidation with such other Person.

 

“Adjusted Consolidated
Funded Debt” means, as of any date of determination, the sum of (a) all Consolidated Funded Debt plus (b) the
Consolidated Parties’ pro rata share of Funded Debt attributable to interest in Unconsolidated Affiliates.

 

“Administrative
Agent” means Bank of America in its capacity as administrative agent for the Lenders under any of the Credit Documents,
or any successor administrative agent.

 

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“Administrative
Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02,
or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

“Affiliate”
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.

 

“Agent-Related
Persons” means the Administrative Agent, together with its Affiliates (including, in the case of Bank of America in its
capacity as the Administrative Agent, the Arranger), and the officers, directors, employees, agents and attorneys-in-fact of such
Persons and Affiliates.

 

“Agreement” has the meaning
provided in the introductory paragraph hereof.

 

“Applicable
Percentage” means with respect to any Lender at any time, (a) with respect to such Lender’s portion of any outstanding
Term Loan at any time, the percentage (carried out to the ninth decimal place) of the outstanding principal amount of such Term
Loan held by such Lender at such time subject to adjustment as provided in Section 2.12 and (b) with respect to such Lender’s
Term Loan Commitment at any time, the percentage (carried out to the ninth decimal place) of the aggregate Term Loan Commitments
of all Lenders represented by such Lender’s Term Loan Commitment at such time, subject to adjustment as provided in Section 2.12.  The
initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto or in any documentation executed by such Lender pursuant to
Section 2.01(b), as applicable.

 

“Applicable
Rate” means, for any applicable period, the appropriate applicable percentage corresponding to the following percentages
per annum, based upon the Debt Ratings at each Pricing Level as set forth below:

 

	Applicable Rate	 
	Pricing
 Level	 	Debt Rating	 	Eurodollar
 Loans	 	 	Base Rate
 Loans	 
	1	 	> A-/A3	 	 	1.10	%	 	 	0.10	%
	2	 	BBB+/Baa1	 	 	1.20	%	 	 	0.20	%
	3	 	BBB/Baa2	 	 	1.45	%	 	 	0.45	%
	4	 	BBB-/Baa3	 	 	1.75	%	 	 	0.75	%
	5	 	<BBB-/Baa3	 	 	2.30	%	 	 	1.30	%

 

Each change in the Applicable Rate resulting
from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing
on the date of delivery by the Borrower to the Administrative Agent of notice thereof and ending on the day immediately preceding
the effective date of the next such change and, in the case of a downgrade, during the period commencing on the date of the public
announcement thereof and

 

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ending on the day immediately preceding the
effective date of the next such change.  If at any time the Borrower has only two (2) Debt Ratings, and such Debt Ratings
are split, then: (A) if the difference between such Debt Ratings is one ratings category (e.g. Baa2 by Moody’s and BBB- by
S&P or Fitch), the Applicable Rate shall be the rate per annum that would be applicable if the higher of the Debt Ratings were
used; and (B) if the difference between such Debt Ratings is two ratings categories (e.g. Baa1 by Moody’s and BBB- by S&P),
the Applicable Rate shall be the rate per annum that would be applicable if the median of the applicable Debt Ratings were used.  If
at any time the Borrower has three (3) Debt Ratings, and such Debt Ratings are split, then: (A) if the difference between the highest
and the lowest such Debt Ratings is one ratings category (e.g. Baa2 by Moody’s and BBB- by S&P or Fitch), the Applicable
Rate shall be the rate per annum that would be applicable if the highest of the Debt Ratings were used; and (B) if the difference
between such Debt Ratings is two ratings categories (e.g. Baa1 by Moody’s and BBB- by S&P or Fitch) or more, the Applicable
Rate shall be the rate per annum that would be applicable if the average of the two (2) highest Debt Ratings were used; provided,
that if such average is not a recognized rating category, then the Applicable Rate shall be the rate per annum that would be applicable
if the second highest Debt Rating of the three were used.

 

“Approved Fund”
means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of
an entity that administers or manages a Lender.

 

“Arranger”
means Merrill Lynch, Pierce, Fenner & Smith Incorporated, in its capacity as sole lead arranger and sole book manager.

 

“Assignee Group”
means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment
advisor.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent
of any party whose consent is required by Section 10.07(b)), and accepted by the Administrative Agent, in substantially
the form of Exhibit D or any other form approved by the Administrative Agent and, if such assignment and assumption
requires its consent, the Borrower.

 

“Attorney Costs”
means and includes all reasonable and documented fees, expenses and disbursements of any law firm or other external counsel and,
without duplication, the allocated reasonable and documented cost of internal legal services and all expenses and disbursements
of internal counsel.

 

“Attributable
Principal Amount” means (a) in the case of capital leases, the amount of capital lease obligations determined in accordance
with GAAP, (b) in the case of Synthetic Leases, an amount determined by capitalization of the remaining lease payments thereunder
as if it were a capital lease determined in accordance with GAAP, (c) in the case of Securitization Transactions, the outstanding
principal amount of such financing, after taking into account reserve amounts and making appropriate adjustments, determined by
the Administrative Agent in its reasonable judgment and (d) in the case of Sale and Leaseback Transactions, the present value (discounted
in accordance with GAAP at the debt rate implied in the applicable lease) of the obligations of the lessee for rental payments
during the term of such lease.

 

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“Audited Financial
Statements” means the audited consolidated balance sheet of the Borrower and its Consolidated Subsidiaries for the fiscal
year ended December 31, 2012, and the related consolidated statements of earnings, shareholders’ equity and cash flows
for such fiscal year of the Borrower and its Consolidated Subsidiaries, including the notes thereto; provided, that the
Administrative Agent hereby agrees that the Form 10-K of the Borrower delivered to it by the Borrower and containing information
for the fiscal year ended December 31, 2012 shall constitute all information required to be delivered as part of the “Audited
Financial Statements” for purposes of this Agreement.

 

“Bank of America”
means Bank of America, N.A., together with its successors.

 

“Bankruptcy
Code” means Title 11 of the United States Code, as the same may be amended from time to time.

 

“Bankruptcy
Event” means, with respect to any Person, the occurrence of any of the following: (a) the entry of a decree or order
for relief by a court or governmental agency in an involuntary case under any applicable Debtor Relief Law or any other bankruptcy,
insolvency or other similar law now or hereafter in effect, or the appointment by a court or governmental agency of a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such Person or for any substantial part of its
Property or the ordering of the winding up or liquidation of its affairs by a court or governmental agency and such decree, order
or appointment is not vacated or discharged within ninety (90) days of its filing; or (b) the commencement against such Person
of an involuntary case under any applicable Debtor Relief Law or any other bankruptcy, insolvency or other similar law now or hereafter
in effect, or of any case, proceeding or other action for the appointment of a receiver, liquidator, assignee, custodian, trustee,
sequestrator (or similar official) of such Person or for any substantial part of its Property or for the winding up or liquidation
of its affairs, and such involuntary case or other case, proceeding or other action shall remain undismissed for a period of ninety (90)
consecutive days, or the repossession or seizure by a creditor of such Person of a substantial part of its Property; or (c) such
Person shall commence a voluntary case under any applicable Debtor Relief Law or any other bankruptcy, insolvency or other similar
law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent
to the appointment of or the taking possession by a receiver, liquidator, assignee, creditor in possession, custodian, trustee,
sequestrator (or similar official) of such Person or for any substantial part of its Property or make any general assignment for
the benefit of creditors; or (d) the filing of a petition by such Person seeking to take advantage of any Debtor Relief Law
or any other applicable Law, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding-up, or composition
or adjustment of debts, or (e) such Person shall fail to contest in a timely and appropriate manner (and if not dismissed within
ninety (90) days) or shall consent to any petition filed against it in an involuntary case under such bankruptcy laws or other
applicable Law or consent to any proceeding or action relating to any bankruptcy, insolvency, reorganization, winding-up, or composition
or adjustment of debts with respect to its assets or existence, or (f) such Person shall admit in writing, or such Person’s
financial statements shall reflect, an inability to pay its debts generally as they become due.

 

“Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate
of interest in effect for such day as publicly

 

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announced from time to time by Bank of America
as its “prime rate,” and (c) the one-month Eurodollar Rate plus one percent (1.00%).  The
“prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and
desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may
be priced at, above, or below such announced rate.  Any change in the prime rate announced by Bank of America shall take
effect at the opening of business on the day specified in the public announcement of such change.

 

“Base Rate Loan”
means a Loan that bears interest based on the Base Rate.

 

“Borrower”
has the meaning given to such term in the introductory paragraph hereof.

 

“Borrower Materials”
has the meaning provided in Section 6.02.

 

“Borrowing”
means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurodollar Loans, having the same Interest
Period.

 

“Braswell Indebtedness”
means that certain Indebtedness of Regency Health Services, Inc. owing to C. Allen Braswell, Braswell Management,
Inc., Dorothy Norton and Cecil Mays pursuant to that certain Promissory Note Secured by Deeds of Trust in the
original principal amount of $4,114,035 (of which no more than $2,961,607 is outstanding as of the Closing Date).

 

“Businesses”
has the meaning provided in Section 5.07(a).

 

“Business Day”
means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or
are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar
Loan, means any such day that is also a London Banking Day.

 

“Capital Lease”
means a lease that would be capitalized on a balance sheet of the lessee prepared in accordance with GAAP.

 

“Capital Stock”
means (a) in the case of a corporation, capital stock, (b) in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of capital stock, (c) in the case of a partnership,
partnership interests (whether general or limited), (d) in the case of a limited liability company, membership interests and (e)
any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person.

 

“Capitalization
Rate” means 10.0% for all government reimbursed assets (i.e. skilled nursing facilities, hospitals, etc.) and 8.0% for
all non-government reimbursed assets (i.e. assisted living facilities, independent living facilities, medical office buildings,
etc.).

 

“Cash Equivalents”
means (a) securities issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof
(provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not more than
twelve months from the date of acquisition, (b) time deposits and certificates of deposit of (i) any

 

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Lender, (ii) any domestic commercial bank of
recognized standing having capital and surplus in excess of $500,000,000 or (iii) any bank whose short-term commercial paper rating
from S&P is at least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent thereof (each an
“Approved Bank”), in each case with maturities of not more than two hundred seventy (270) days from the date
of acquisition, (c) commercial paper and variable or fixed rate notes issued by any Approved Bank (or by the parent company thereof)
or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof) or better
by S&P or P-1 (or the equivalent thereof) or better by Moody’s and maturing within six months of the date of acquisition,
(d) repurchase agreements entered into by any Person with a bank or trust company (including any of the Lenders) or recognized
securities dealer having capital and surplus in excess of $500,000,000 for direct obligations issued by or fully guaranteed by
the United States in which such Person shall have a perfected first priority security interest (subject to no other Liens) and
having, on the date of purchase thereof, a fair market value of at least 100% of the amount of the repurchase obligations and (e)
Investments (classified in accordance with GAAP as current assets) in money market investment programs registered under the Investment
Company Act of 1940, as amended, that are administered by reputable financial institutions having capital of at least $500,000,000
and the portfolios of which are limited to Investments of the character described in the foregoing subclauses hereof.

 

“Change in Law”
means the occurrence, after the Closing Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation
or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application
thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not
having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x)
the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued
in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements,
the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities,
in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted,
adopted or issued.

 

“Change of Control”
means the occurrence of any of the following events: (a) any Person or two or more Persons acting in concert shall have acquired
beneficial ownership, directly or indirectly, of, or shall have acquired by contract or otherwise, or shall have entered into a
contract or arrangement that, upon consummation, will result in its or their acquisition of or control over, voting stock of the
Borrower (or other securities convertible into such voting stock) representing thirty-five percent (35%) or more of the combined
voting power of all voting stock of the Borrower, (b) during any period of up to twenty-four (24) consecutive months, commencing
after the Closing Date, individuals who at the beginning of such twenty-four (24) month period were directors of the Borrower (together
with any new director whose election by the Borrower’s Board of Directors or whose nomination for election by the Borrower’s
shareholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the
beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute
a majority of the directors of the Borrower then in office.  As used herein, “beneficial ownership” shall
have the meaning provided in Rule 13d-3 of the SEC under the Securities Exchange Act of 1934, or (c) the

 

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occurrence of a “Change of Control”
or any equivalent term or concept under any of the Senior Note Indentures.

 

“Closing Date”
means the date hereof.

 

“Commitment”
means with respect to each Lender, the Term Loan Commitment of such Lender.

 

“Commitment
Letter” means that certain commitment letter dated as of October 15, 2013 among the Borrower, the Arranger and the Administrative
Agent, as amended and modified.

 

“Compliance Certificate”
means a certificate substantially in the form of Exhibit C.

 

“Commitment Increase
Amendment” has the meaning set forth in Section 2.01(c).

 

“Commodity Exchange
Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

“Confidential
Information” has the meaning provided in Section 10.08.

 

“Consolidated
Adjusted EBITDA” means, for any period, for the Consolidated Parties on a consolidated basis, the sum of (a) Consolidated
EBITDA as of such date plus (b) an amount based on the Special Charges Adjustment (without duplication to the extent included
in the determination of Consolidated Interest Expense and added back to net income in the calculation of Consolidated EBITDA).

 

“Consolidated
EBITDA” means, for any period, for the Consolidated Parties on a consolidated basis, the sum of (a) net income of the
Consolidated Parties, in each case, excluding any non-recurring or extraordinary gains and losses, plus (b) an amount which,
in the determination of net income for such period pursuant to clause (a) above, has been deducted for or in connection with
(i) Consolidated Interest Expense (plus, amortization of deferred financing costs, to the extent included in the determination
of Consolidated Interest Expense per GAAP), (ii) income taxes, and (iii) depreciation and amortization plus (c) to the extent
decreasing net income of the Consolidated Parties for such period, all expenses directly attributable to FIN 46 consolidation requirements,
minus (d) to the extent increasing net income of the Consolidated Parties for such period, all revenue directly attributable
to FIN 46 consolidation requirements, plus (e) to the extent decreasing net income of the Consolidated Parties for such
period, all expenses directly related to owned and operated assets, minus (f) to the extent increasing net income of the
Consolidated Parties for such period, all revenues directly related to owned and operated assets, all determined in accordance
with GAAP.

 

“Consolidated
Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Adjusted EBITDA to
(b) Consolidated Fixed Charges for the most recently completed four (4) fiscal quarters.

 

“Consolidated
Fixed Charges” means, for any period, for the Consolidated Parties on a consolidated basis, the sum of (a) Consolidated
Interest Expense (excluding, for purposes hereof and without duplication, Special Charges to the extent included in the calculation
of Consolidated Interest Expense) for such period, plus (b) current scheduled principal payments of

 

    	7

    	 

    

 

Consolidated Funded Debt for such period (including,
for purposes hereof, current scheduled reductions in commitments, but excluding any payment of principal under the Credit Documents
and any “balloon” payment or final payment at maturity that is significantly larger than the scheduled payments that
preceded it) for a period beginning the day after the date of determination and lasting for the same length of time as the applicable
period referenced at the beginning of this definition, plus (c) dividends and distributions on preferred stock, if any,
for such period, in each case, as determined in accordance with GAAP.

 

“Consolidated
Funded Debt” means, as of any date of determination, the sum of (a) all Funded Debt of the Consolidated Parties determined
on a consolidated basis minus (b) to the extent included in the calculation of Funded Debt of the Consolidated Parties,
the aggregate amount of Funded Debt directly attributable to FIN 46 consolidation requirements, all determined in accordance with
GAAP.

 

“Consolidated
Interest Expense” means, for any period, for the Consolidated Parties on a consolidated basis, all interest expense and
letter of credit fee expense, as determined in accordance with GAAP during such period; provided, that interest expenses
shall, in any event, (a) include the interest component under Capital Leases and the implied interest component under Securitization
Transactions and (b) exclude the amortization of any deferred financing fees.

 

“Consolidated
Leverage Ratio” means, as of any date of determination, the ratio of (a) Adjusted Consolidated Funded Debt to
(b) Consolidated Total Asset Value for the most recently completed fiscal quarter.

 

“Consolidated
Parties” means the Borrower and its Consolidated Subsidiaries, as determined in accordance with GAAP.

 

“Consolidated
Secured Funded Debt” means the aggregate principal amount of Funded Debt of the Borrower or any of its Subsidiaries,
on a consolidated basis, that is secured by a Lien, and shall include (without duplication), the ownership share of such secured
Funded Debt of the Borrower’s or its Subsidiaries’ Unconsolidated Affiliates.

 

“Consolidated
Secured Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Secured Funded Debt to
(b) Consolidated Total Asset Value for the most recently completed fiscal quarter.

 

“Consolidated
Subsidiary” means at any date any Subsidiary or other entity the accounts of which would be consolidated with those of
the Borrower in its consolidated financial statements if such statements were prepared as of such date.

 

“Consolidated
Tangible Net Worth” means, for the Consolidated Parties as of any date of determination, (a) stockholders’ equity
on a consolidated basis determined in accordance with GAAP, but with no upward adjustments due to any revaluation of assets, less
(b) all Intangible Assets, plus (c) all accumulated depreciation, all determined in accordance with GAAP; provided, that
the Consolidated Parties will be permitted to exclude (i.e. add back to stockholder’s equity) up to $25,000,000 in potential
future impairment charges incurred during the term of this Credit Agreement (such exclusions to be clearly reflected, however,
in the

 

    	8

    	 

    

 

calculations of Consolidated Tangible Net Worth
delivered to the Administrative Agent by the Borrower from time to time pursuant to the terms of this Credit Agreement).

 

“Consolidated
Total Asset Value” means the sum of all the following of the Consolidated Parties, without duplication: (a) the
quotient of (1) Net Revenue from all Real Property Assets for the fiscal quarter most recently ended, minus the Net Revenue
attributable to each Real Property Asset sold or otherwise disposed of during such most recently ended quarter, minus the
Net Revenue from all Real Property Assets acquired during the last fiscal quarter, multiplied by four, divided by
(2) the Capitalization Rate, plus (b) the acquisition cost of each Real Property Asset acquired during the last fiscal quarter,
plus (b) the GAAP book value of the Borrower’s Investments permitted by Section 7.03, plus (c) cash
and cash equivalents, plus (d) the Consolidated Parties’ pro rata share of the foregoing items and components attributable
to interest in Unconsolidated Affiliates.

 

“Consolidated
Unsecured Debt Yield” means, as of any date of determination, the ratio of (a) Unencumbered Net Revenue plus interest
income from unencumbered Qualified Mortgage Loans (provided, however, the aggregate amount of Qualified Mortgage
Loans attributable to second mortgages or second deeds of trust shall not exceed $150,000,000), as of the end of the most recently
completed fiscal quarter multiplied by four (4) to (b) the Consolidated Unsecured Funded Debt for the most recently
completed fiscal quarter.

 

“Consolidated
Unsecured Funded Debt” mean the aggregate principal amount of Funded Debt of the Borrower or any of its Subsidiaries,
on a consolidated basis, that is not Consolidated Secured Funded Debt.

 

“Consolidated
Unsecured Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Unencumbered Net Revenue
to (b) the Consolidated Unsecured Interest Expense for the most recently completed fiscal quarter.

 

“Consolidated
Unsecured Interest Expense” means, for any period, for the Consolidated Parties on a consolidated basis, all interest
expense and letter of credit fee expense, as determined in accordance with GAAP during such period, attributable to Borrower and
its Subsidiaries’ aggregate Consolidated Unsecured Funded Debt; provided, that interest expenses shall, in any event,
(a) include the interest component under Capital Leases and the implied interest component under Securitization Transactions and
(b) exclude the amortization of any deferred financing fees.

 

“Consolidated
Unsecured Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Unsecured Funded Debt
to (b) Unencumbered Asset Value for the most recently completed fiscal quarter.

 

“Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument
or other undertaking to which such Person is a party or by which it or any of its property is bound.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise.  “Controlling” and
“Controlled” have meanings

 

    	9

    	 

    

 

correlative thereto.  Without limiting
the generality of the foregoing, a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly
or indirectly, power to vote twenty-five percent (25%) or more of the securities having ordinary voting power for the election
of directors, managing general partners or the equivalent.

 

“Credit Agreement”
has the meaning given to such term in the introductory paragraph hereof.

 

“Credit Documents”
means this Credit Agreement, the Notes, the Commitment Letter, the Fee Letter, the Subsidiary Guarantor Joinder Agreements and
the Compliance Certificates.

 

“Credit Party”
means, as of any date, the Borrower or any Guarantor which is a party to the Credit Agreement as of such date; and “Credit
Parties” means a collective reference to each of them.

 

“Debt Rating”
means, as of any date of determination, the rating as determined by S&P, Moody’s and/or Fitch for the Borrower’s
non-credit-enhanced, senior unsecured long-term debt.

 

“Debtor Relief
Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of
creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States
or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Default”
means any event, act or condition that, with notice, the passage of time, or both, would constitute an Event of Default.

 

“Default Rate”
means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c)
two percent (2%) per annum; provided, however, that with respect to a Eurodollar Loan, the Default Rate shall be
an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus two percent
(2%) per annum, in each case to the fullest extent permitted by applicable Law.

 

“Defaulting
Lender” means, subject to Section 2.12, any Lender that, as reasonably determined by the Administrative Agent,
(a) has failed to perform any of its funding obligations hereunder, including in respect of its Loans, within three Business Days
of the date required to be funded by it hereunder, unless, in the case of any Loan, such Lender notifies the Administrative Agent
and the Borrower in writing that such failure is the result of such Lender’s reasonable determination that one or more conditions
precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified
in such writing) has not been satisfied, (b) has notified the Borrower or the Administrative Agent in writing that it does not
intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations
hereunder or under other agreements in which it commits to extend credit (unless such writing or public statement relates to such
Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s reasonable determination
that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified
in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after request by

 

    	10

    	 

    

 

the Administrative Agent, to confirm in a manner
satisfactory to the Administrative Agent that it will comply with its funding obligations (provided that such Lender shall
cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent
and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under
any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar
Person charged with reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken any action in
furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment; provided,
that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that
Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not
result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement
of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender.

 

“Designated Jurisdiction”
means any country or territory to the extent that such country or territory itself is the subject of any Sanction.

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (including any Sale and Leaseback
Transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse,
of any notes or accounts receivable or any rights and claims associated therewith.

 

“Dollar”
or “$” means the lawful currency of the United States.

 

“Eligible Assignee”
means (a) a Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; and (d) any other Person (other than a natural person)
approved by (i) the Administrative Agent (such approval not to be unreasonably withheld or delayed), and (ii) unless an Event of
Default has occurred and is continuing, the Borrower (each such approval not to be unreasonably withheld or delayed); provided,
that notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower or any of the Borrower’s
Affiliates or Subsidiaries.

 

“Eligible Ground
Lease” means, at any time, a ground lease (a) under which the Borrower or a Subsidiary of the Borrower is the lessee
or holds equivalent rights and is the fee owner of the improvements located thereon, (b) that has a remaining term of not less
than thirty (30) years; provided, however, with respect to that certain ground lease covering properties located
at 200 Alabama Avenue, Muscle Shoals, Alabama, 500 John Aldridge Drive, Tuscumbia, Alabama and 813 Keeler Lane, Tuscumbia, Alabama,
such remaining term may be less than thirty (30) years provided that the Borrower or such Subsidiary of the Borrower at all times
possesses a valid and enforceable irrevocable option to purchase the fee interest in such properties with no conditions or contingencies
other than the payment of a sum of less than $1,000.00, (c) under which any required rental payment, principal or interest
payment or other payment due under such lease from the Borrower or from such Subsidiary of the Borrower to the ground lessor is
not more than sixty (60) days past due and any required rental payment, principal or interest payment or other payment due
to such Borrower or Subsidiary of the Borrower under any sublease of the applicable real property lessor is not more than sixty (60)
days past due, (d) where no party to

 

    	11

    	 

    

 

such lease is subject to a then-continuing
Bankruptcy Event, (e) such ground lease (or a related document executed by the applicable ground lessor) contains customary provisions
protective of any lender to the lessee and (f) where the Borrower’s or such Subsidiary of the Borrower’s interest in
the underlying Real Property Asset or the lease is not subject to (i) any Lien other than Permitted Liens and other encumbrances
acceptable to the Administrative Agent and the Required Lenders, in their discretion, or (ii) any Negative Pledge.

 

“Environmental
Laws” means any and all federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments,
orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution
and the protection of the environment or the release of any materials into the environment, including those related to hazardous
substances or wastes, air emissions and discharges to waste or public systems.

 

“Equity Transaction”
means, with respect to any member of the Consolidated Parties, any issuance or sale of shares of its Capital Stock, other than
an issuance (a) to a Consolidated Party, (b) in connection with a conversion of debt securities to equity, (c) in connection with
the exercise by a present or former employee, officer or director under a stock incentive plan, stock option plan or other equity-based
compensation plan or arrangement, or (d) in connection with any acquisition permitted hereunder.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section 414(b)
or (c) of the Internal Revenue Code (and Sections 414(m) and (o) of the Internal Revenue Code for purposes of provisions relating
to Section 412 of the Internal Revenue Code).

 

“ERISA Event”
means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the Borrower or any ERISA Affiliate from a Pension
Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2)
of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete
or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan
is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under
Sections 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer
Plan; (e) an event or condition that could reasonably be expected to constitute grounds under Section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of
any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA,
upon the Borrower or any ERISA Affiliate.

 

“Eurodollar
Base Rate” means:

 

(a)       For
any Interest Period with respect to a Eurodollar Loan, the rate per annum equal to the London Interbank Offered Rate or comparable
or successor thereto

 

    	12

    	 

    

 

as approved by the Administrative
Agent (“LIBOR”), as published by Reuters (or other commercially available source providing quotations of LIBOR
as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior
to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a
term equivalent to such Interest Period.

 

(b)       For
any day with respect to an interest rate calculation for a Base Rate Loan, the rate per annum equal to LIBOR at approximately 11:00
a.m., London time, two (2) Business Days prior to such date for Dollar deposits (for delivery on such day) being delivered in the
London interbank market with a term equivalent to one month;

 

provided, that to the extent
a comparable or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied
in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively
feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the
Administrative Agent.

 

“Eurodollar
Loan” means a Loan that bears interest at a rate based on clause (a) of the definition of “Eurodollar Rate.”

 

“Eurodollar
Rate” means (a) for any Interest Period with respect to any Eurodollar Loan and (b) for any Base Rate Loan bearing interest
at a rate based on the Eurodollar Rate, a rate per annum determined by the Administrative Agent pursuant to the following formula:

 

	Eurodollar Rate  =	Eurodollar Base Rate
	 	1.00 - Eurodollar Reserve Percentage

 

“Eurodollar
Reserve Percentage” means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried
out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time
to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve
requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”).  The
Eurodollar Rate for each outstanding Eurodollar Loan shall be adjusted automatically as of the effective date of any change in
the Eurodollar Reserve Percentage.

 

“Event of Default”
has the meaning provided in Section 8.01.

 

“Excluded Swap
Obligation” means, with respect to any Guarantor, any Obligation under any Swap Contract if, and to the extent that,
all or a portion of the Guaranty of such Guarantor of, or the grant under a Credit Document by such Guarantor of a security
interest to secure, such Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act (or the application
or official interpretation thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible
contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 11.07 and
any and all guarantees of such Guarantor’s

 

    	13

    	 

    

 

Obligations under any Swap Contract by other
Credit Parties) at the time the Guaranty of such Guarantor, or grant by such Guarantor of a security interest, becomes effective
with respect to such Obligation.  If an Obligation under any Swap Contract arises under a Master Agreement governing
more than one Swap Contract, such exclusion shall apply to only the portion of such Obligations that is attributable to Swap Contracts
for which such Guaranty or security interest becomes illegal.

 

“Executive Order”
has the meaning provided in the definition of “Prohibited Person” in this Section 1.01.

 

“Existing Credit
Facility” means that certain Credit Agreement, dated as of December 6, 2012, by and among the Borrower, certain
Subsidiaries of the Borrower, the lenders party thereto and Bank of America, N.A. as administrative agent, as amended, restated
or otherwise modified from time to time prior to the date hereof.

 

“Extension of
Credit” means any Borrowing.

 

“Facilities”
has the meaning provided in Section 5.07(a).

 

“Facility Lease”
means a lease or master lease with respect to any Real Property Asset owned or ground leased by any of the Consolidated Parties
as lessor, to a third party Tenant, which, in the reasonable judgment of the Administrative Agent, is a triple net lease such that
such Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with
respect to the subject Real Property Asset (whether in the form of reimbursements or additional rent) in addition to the base rental
payments required thereunder such that net operating income to the applicable Consolidated Party for such Real Property Asset (before
non-cash items) equals the base rent paid thereunder; provided, that each such lease or master lease shall be in form and
substance reasonably satisfactory to the Administrative Agent.

 

“FASB”
means the Accounting Standards Codification of the Financial Accounting Standards Board.

 

“Federal Funds
Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions
with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank
of New York on the Business Day immediately succeeding such day; provided, that (a) if such day is not a Business Day, the
Federal Funds Rate for such day shall be such rate on such transactions on the immediately preceding Business Day as so published
on the immediately succeeding Business Day, and (b) if no such rate is so published on such immediately succeeding Business Day,
the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to the next 1/100th of
1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

 

“Fee Letter”
means that certain letter agreement dated as of October 15, 2013 among the Borrower, the Arranger and the Administrative Agent,
as amended and modified.

 

“Fitch”
means Fitch Ratings, a Subsidiary of Fimalac, S.A., and any successor thereto.

 

    	14

    	 

    

 

“Foreign Lender”
has the meaning provided in Section 10.15(a)(i).

 

“FRB”
means the Board of Governors of the Federal Reserve System of the United States.

 

“Fund”
means any Person (other than a natural person) engaged in making, purchasing, holding or otherwise investing in commercial loans
and similar extensions of credit in the ordinary course of its business.

 

“Funded Debt”
means, as to any Person (or consolidated group of Persons) at a particular time, without duplication, all of the following, whether
or not included as indebtedness or liabilities in accordance with GAAP:

 

(a)       all
obligations for borrowed money, whether current or long-term (including the Obligations hereunder), and all obligations evidenced
by bonds, debentures, notes, loan agreements or other similar instruments;

 

(b)       all
purchase money indebtedness (including indebtedness and obligations in respect of conditional sales and title retention arrangements,
except for customary conditional sales and title retention arrangements with suppliers that are entered into in the ordinary course
of business) and all indebtedness and obligations in respect of the deferred purchase price of property or services (other than
trade accounts payable incurred in the ordinary course of business and payable on customary trade terms);

 

(c)       all
direct obligations under letters of credit (including standby and commercial), bankers’ acceptances and similar instruments
(including bank guaranties, surety bonds, comfort letters, keep-well agreements and capital maintenance agreements) to the extent
such instruments or agreements support financial, rather than performance, obligations;

 

(d)       the
Attributable Principal Amount of capital leases and Synthetic Leases;

 

(e)       the
Attributable Principal Amount of Securitization Transactions;

 

(f)        all
preferred stock and comparable equity interests providing for mandatory redemption, sinking fund or other like payments;

 

(g)       Support
Obligations in respect of Funded Debt of another Person (other than Persons in such group, if applicable); and

 

(h)       Funded
Debt of any partnership or joint venture or other similar entity in which such Person is a general partner or joint venturer, and,
as such, has personal liability for such obligations, but only to the extent there is recourse to such Person (or, if applicable,
any Person in such consolidated group) for payment thereof.

 

For purposes hereof,
the amount of Funded Debt shall be determined based on the outstanding principal amount in the case of borrowed money indebtedness
under clause (a) and purchase money indebtedness and the deferred purchase obligations under clause (b), based on

 

    	15

    	 

    

 

the maximum amount available to be drawn in
the case of letter of credit obligations and the other obligations under clause (c), and based on the amount of Funded Debt
that is the subject of the Support Obligations in the case of Support Obligations under clause (g).  For purposes
of clarification, “Funded Debt” of Person constituting a consolidated group shall not include inter-company indebtedness
of such Persons, general accounts payable of such Persons which arise in the ordinary course of business, accrued expenses of such
Persons incurred in the ordinary course of business or minority interests in joint ventures or limited partnerships (except to
the extent set forth in clause (h) above).

 

“Funds From
Operations” means, with respect to any period, the Borrower’s net income (or loss), plus depreciation and amortization
and after adjustments for unconsolidated partnerships and joint ventures as hereafter provided.  Notwithstanding contrary
treatment under GAAP, for purposes hereof, (a) “Funds From Operations” shall include, and be adjusted to take into
account, the Borrower’s interests in unconsolidated partnerships and joint ventures, on the same basis as consolidated partnerships
and subsidiaries, as provided in the “white paper” issued in April 2002 by the National Association of Real Estate
Investment Trusts, a copy of which has been provided to the Administrative Agent and the Lenders and (b) net income (or loss) shall
not include gains (or, if applicable, losses) resulting from or in connection with (i) restructuring of indebtedness, (ii) sales
of property, (iii) sales or redemptions of preferred stock, (iv) revenue or expenses related to owned and operated assets, (v)
revenue or expense related to FIN 46 consolidation requirements or (vi) any other Special Charges.

 

“GAAP”
means generally accepted accounting principles in effect in the United States as set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board from time to time applied on a consistent basis, subject to the provisions of Section 1.03.

 

“Governmental
Authority” means any nation or government, any state or other political subdivision thereof, and any agency, authority,
instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 

“Guaranteed Obligations”
has the meaning given to such term in Section 11.01(a).

 

“Guarantors”
means any Subsidiary of the Borrower that guarantees the loans and obligations hereunder pursuant to the Guaranty, in each case
with their successors and permitted assigns.

 

“Guaranty”
means the guaranty of the Obligations by each of the Guarantors pursuant to Article XI hereof.

 

“Hazardous Material”
means any toxic or hazardous substance, including petroleum and its derivatives regulated under the Environmental Laws.

 

“Healthcare
Facilities” means any skilled nursing facilities, mentally and developmentally disabled facilities, rehab hospitals,
long term acute care facilities, intermediate care facilities for the mentally disabled, medical office buildings, domestic assisted
living facilities, independent living

 

    	16

    	 

    

 

facilities or Alzheimer’s care facilities
and any ancillary businesses that are incidental to the foregoing.

 

“Impacted Loans”
has the meaning provided in Section 3.03.

 

“Incremental Facilities”
has the meaning provided in Section 2.01(b).

 

“Incremental Facility Commitment”
has the meaning provided in Section 2.01(b)(iii).

 

“Incremental Term Loan Facility”
has the meaning provided in Section 2.01(b).

 

“Indebtedness”
means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness
or liabilities in accordance with GAAP:

 

(a)       all
Funded Debt;

 

(b)       all
contingent obligations under letters of credit (including standby and commercial), bankers’ acceptances and similar instruments
(including bank guaranties, surety bonds, comfort letters, keep-well agreements and capital maintenance agreements) to the extent
such instruments or agreements support financial, rather than performance, obligations;

 

(c)       net
obligations under any Swap Contract;

 

(d)       Support
Obligations in respect of Indebtedness of another Person; and

 

(e)       Indebtedness
of any partnership or joint venture or other similar entity in which such Person is a general partner or joint venturer, and, as
such, has personal liability for such obligations, but only to the extent there is recourse to such Person for payment thereof.

 

For purposes
hereof, the amount of Indebtedness shall be determined based on Swap Termination Value in the case of net obligations under Swap
Contracts under clause (c) and based on the outstanding principal amount of the Indebtedness that is the subject of the Support
Obligations in the case of Support Obligations under clause (d).

 

“Indemnified Liabilities”
has the meaning provided in Section 10.05.

 

“Indemnitees” has the meaning
provided in Section 10.05.

 

“Intangible
Assets” means all assets consisting of goodwill, patents, trade names, trademarks, copyrights, franchises, experimental
expense, organization expense, unamortized debt discount and expense, deferred assets (other than prepaid insurance and prepaid
taxes), the excess of cost of shares acquired over book value of related assets and such other assets as are properly classified
as “intangible assets” in accordance with GAAP.

 

“Interest Payment
Date” means, (a) as to any Base Rate Loan, the last Business Day of each March, June, September and December and
the Term Loan Maturity Date, and (b) as to any

 

    	17

    	 

    

 

Eurodollar Loan, the last Business Day of each
Interest Period for such Loan, the date of repayment of principal of such Loan, and where the applicable Interest Period exceeds
three months, the date every three months after the beginning of such Interest Period.  If an Interest Payment Date falls
on a date that is not a Business Day, such Interest Payment Date shall be deemed to be the immediately succeeding Business Day.

 

“Interest Period”
means, as to each Eurodollar Loan, the period commencing on the date such Eurodollar Loan is disbursed or converted to or continued
as a Eurodollar Loan and ending on the date one, two, three or six months thereafter, as selected by the Borrower in its Loan Notice;
provided, that:

 

(a)       any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the immediately succeeding Business
Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding
Business Day;

 

(b)       any
Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end
of such Interest Period; and

 

(c)       no
Interest Period shall extend beyond the Term Loan Maturity Date.

 

“Internal Revenue
Code” means the Internal Revenue Code of 1986 as amended.

 

“Investment”
means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase
or other acquisition of Capital Stock of another Person, (b) a loan, advance or capital contribution to, guaranty or assumption
of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including
any partnership or joint venture interest in such other Person, or (c) the purchase or other acquisition (in one transaction or
a series of transactions) of assets of another Person that constitute a business unit.  For purposes of covenant compliance,
the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in
the value of such Investment.

 

“Investment
Grade Rating” means a Debt Rating of BBB-/Baa3 (or equivalent) or higher from either Moody’s, S&P or Fitch.

 

“IRS”
means the United States Internal Revenue Service.

 

“Laws”
means, collectively, all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances,
codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether
or not having the force of law.

 

    	18

    	 

    

 

“Lender”
means each of the Persons identified as a “Lender” on the signature pages hereto and each Person who joins as a Lender
pursuant to the terms hereof, together with their respective successors and assigns.

 

“Lender Joinder
Agreement” means a joinder agreement in the form of Exhibit F, executed and delivered in accordance with
the provisions of Section 2.01(b).

 

“Lending Office”
means, as to any Lender, the office or offices of such Lender set forth in such Lender’s Administrative Questionnaire or
such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.

 

“Lien”
means any mortgage, deed of trust, deed to secured debt, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien
(statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature
whatsoever (including any conditional sale or other title retention agreement, and any financing lease having substantially the
same economic effect as any of the foregoing).

 

“Loan”
means any Term Loan and the Base Rate Loans and Eurodollar Loans comprising such Loans.

 

“Loan Notice”
means a notice of (a) a Borrowing of Loans, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurodollar
Loans, which, if in writing, shall be substantially in the form of Exhibit A.

 

“London Banking
Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar
market.

 

“Master Agreement”
has the meaning provided in the definition of “Swap Contract” in this Section 1.01.

 

“Material Adverse
Effect” means a material adverse effect on (i) the condition (financial or otherwise), operations, business, assets,
liabilities or prospects of the Borrower and its Consolidated Subsidiaries taken as a whole, (ii) the ability of the Borrower or
the other Credit Parties, taken as a whole, to perform any material obligation under the Credit Documents, or (iii) the rights
and remedies of the Administrative Agent and the Lenders under the Credit Documents.

 

“Material Contract”
means, any agreement the breach, nonperformance or cancellation of which could reasonably be expected to have a Material Adverse
Effect.

 

“Moody’s”
means Moody’s Investors Service, Inc.  and any successor thereto.

 

“Mortgage Loan”
means any loan owned or held by any of the Consolidated Parties secured by a mortgage or deed of trust on Real Property Assets.

 

“Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower
or any ERISA Affiliate makes or is

 

    	19

    	 

    

 

obligated to make contributions, or during
the preceding five plan years, has made or been obligated to make contributions.

 

“Negative Pledge”
means any agreement (other than this Credit Agreement or any other Credit Document) that in whole or in part prohibits the
creation of any Lien on any assets of a Person; provided, however, that an agreement that establishes a maximum ratio
of unsecured debt to unencumbered assets, or of secured debt to total assets, or that otherwise conditions a Person’s ability
to encumber its assets upon the maintenance of one or more specified ratios that limit such Person’s ability to encumber
its assets but that do not generally prohibit the encumbrance of its assets, or the encumbrance of specific assets, shall not constitute
a “Negative Pledge” for purposes of this Credit Agreement.

 

“Net Revenues”
shall mean, with respect to any Real Property Asset for the most recently ended four (4) fiscal quarter period, the sum of
(a) rental payments received in cash by the applicable Consolidated Party (whether in the nature of base rent, minimum rent, percentage
rent, additional rent or otherwise, but exclusive of security deposits, earnest money deposits, advance rentals, reserves for capital
expenditures, charges, expenses or items required to be paid or reimbursed by the Tenant thereunder and proceeds from a sale or
other disposition) pursuant to the Facility Leases applicable to such Real Property Asset, minus (b) expenses of the applicable
Consolidated Party allocated to such Real Property Asset.

 

“Non-Defaulting
Lender” means, at any time, each Lender that is not a Defaulting Lender at such time.

 

“Notes”
means a collective reference to the Term Notes; and “Note” means any one of them.

 

“Obligations”
means, without duplication, (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Credit Party
arising under any Credit Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that
accrue after the commencement by or against any Credit Party or any Affiliate thereof of any proceeding under any Debtor Relief
Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such
proceeding and (b) all obligations under any Swap Contract of any Credit Party to which a Lender or any Affiliate of a Lender is
a party; provided, however, that the “Obligations” of a Credit Party shall exclude any Excluded Swap Obligations
with respect to such Credit Party.

 

“Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or
equivalent or comparable constitutive documents with respect to any non-U.S.  jurisdiction); (b) with respect to any
limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect
to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement
of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its
formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or

 

    	20

    	 

    

 

organization and, if applicable, any certificate
or articles of formation or organization of such entity.

 

“Outstanding
Amount” means with respect to Term Loans on any date, the aggregate outstanding principal amount thereof after giving
effect to any Borrowings and prepayments or repayments of Term Loans, as the case may be, occurring on such date,

 

“Participant”
has the meaning provided in Section 10.07(d).

 

“Patriot Act”
means the USA Patriot Act, Pub. L. No. 107-56 et seq.

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

“Pension Plan”
means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer
Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which
the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other
plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan
years.

 

“Permitted Liens”
means, at any time, Liens in respect of the Borrower or any of its Subsidiaries permitted to exist at such time pursuant to the
terms of Section 7.01.

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or other entity.

 

“Plan”
means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established by the Borrower
or, with respect to any such plan that is subject to Section 412 of the Internal Revenue Code or Title IV of ERISA, any
ERISA Affiliate.

 

“Platform”
has the meaning provided in Section 6.02.

 

“Pro Forma Basis”
shall mean, for purposes of determining the calculation of and compliance with the financial covenants set forth in Section
6.12(a), (b), (c),(d), (f) and (g) hereunder, that the subject transaction shall be deemed to have occurred as
of the first day of the period of four (4) consecutive fiscal quarters ending as of the end of the most recent fiscal quarter for
which annual or quarterly financial statements shall have been delivered in accordance with the provisions of this Credit Agreement.  Further,
for purposes of making calculations on a “Pro Forma Basis” hereunder, (a) in the case of a Disposition, (i) income
statement items (whether positive or negative) attributable to the property, entities or business units that are the subject of
such Disposition shall be excluded to the extent relating to any period prior to the date of the subject transaction, and (ii)
Indebtedness paid or retired in connection with the subject transaction shall be deemed to have been paid and retired as of the
first day of the applicable period; (b) in the case of an Acquisition, (i) income statement items (whether positive or negative)
attributable to the property, entities or business units that are the subject of such Acquisition shall be included to the extent
relating to any period prior to the date of the subject transaction, and (ii) Indebtedness incurred in connection with the subject
transaction shall be deemed to have been incurred as of the first day of the applicable period (and interest expense

 

    	21

    	 

    

 

shall be imputed for the applicable period
utilizing the actual interest rates thereunder or, if actual rates are not ascertainable, assuming prevailing interest rates hereunder)
and (c) in the case of an Equity Transaction, Indebtedness paid or retired in connection therewith shall be deemed to have been
paid and retired as of the first day of the applicable period.

 

“Prohibited
Person” means any Person (i) listed in the annex to, or who is otherwise subject to the provisions of, Executive Order
No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism (the “Executive Order”); (ii) that is
owned or controlled by, or acting for or on behalf of, any person or entity that is listed in the annex to, or is otherwise subject
to the provisions, of the Executive Order; (iii) with whom a Person is prohibited from dealing or otherwise engaging in any transaction
by any terrorism or money laundering Law, including the Executive Order; (iv) who commits, threatens or conspires to commit or
supports “terrorism” as defined in the Executive Order; (v) that is named as a “specially designated national
and blocked person” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at
its official website or at any replacement website or other replacement official publication of such list; or who is an Affiliate
of a Person listed in clauses (i) - (v) above.

 

“Property”
means all property owned or leased by a Credit Party or any of its Subsidiaries, both real and personal.

 

“Qualified ECP
Guarantor” means, at any time, each Credit Party with total assets exceeding $10,000,000 or that qualifies at such time
as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an
“eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

“Qualified Mortgage
Loan” means any Mortgage Loan that is secured by a first or second mortgage or a first or second deed of trust on Real
Property Assets so long as the mortgagor or grantor with respect to such Mortgage Loan is not delinquent sixty (60) days or more
in interest or principal payments due thereunder.

 

“Qualified REIT
Subsidiary” means the meaning given to such term in the Internal Revenue Code.

 

“Real Property
Asset” means, a parcel of real property, together with all improvements (if any) thereon, owned in fee simple or leased
pursuant to an Eligible Ground Lease by any Person; “Real Property Assets” means a collective reference to each
Real Property Asset.

 

“Register”
has the meaning provided in Section 10.07(c).

 

“Registered
Public Accounting Firm” has the meaning provided in the Securities Laws and shall be independent of the Borrower as prescribed
by the Securities Laws.

 

“Regulation T”
means Regulation T of the FRB, as in effect from time to time.

 

“Regulation U”
means Regulation U of the FRB, as in effect from time to time.

 

    	22

    	 

    

 

“Regulation X”
means Regulation X of the FRB, as in effect from time to time.

 

“REIT”
means a real estate investment trust as defined in Sections 856-860 of the Internal Revenue Code.

 

“Related Parties”
means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and
advisors of such Person and of such Person’s Affiliates.

 

“Reportable
Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the thirty-day
notice period has been waived.

 

“Request for
Extension of Credit” means with respect to a Borrowing of Loans or the conversion or continuation of Loans, a Loan Notice.

 

“Required Lenders”
means, as of any date of determination, two or more Lenders (except to the extent only one Lender exists as of such date) having
at least 50% of (a) the sum of the outstanding principal amount of the Term Loans and the aggregate Commitments or (b) if the aggregate
Commitments have expired or have been terminated pursuant to Article VIII, Lenders holding in the aggregate at least 50%
of the sum of the outstanding principal amount of the Term Loans; provided, that the unfunded Commitments of any Defaulting
Lender shall be excluded for purposes of making a determination of Required Lenders.

 

“Responsible
Officer” means the chief executive officer, president, chief operating officer and chief financial officer of any Credit
Party.  Any document delivered hereunder that is signed by a Responsible Officer of a Credit Party shall be conclusively
presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Credit Party and
such Responsible Officer shall be conclusively presumed to have acted on behalf of such Credit Party.

 

“S&P”
means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto.

 

“Sale and Leaseback
Transaction” means, with respect to the Borrower or any Subsidiary, any arrangement, directly or indirectly, with any
person whereby the Borrower or such Subsidiary shall sell or transfer any property, real or personal, used or useful in its business,
whether now owned or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for
substantially the same purpose or purposes as the property being sold or transferred.

 

“Sanction(s)”
means any international economic sanction administered or enforced by OFAC, the United Nations Security Council, the European Union,
Her Majesty’s Treasury or other relevant sanctions authority.

 

“Sarbanes-Oxley”
means the Sarbanes-Oxley Act of 2002.

 

“SEC”
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

 

    	23

    	 

    

 

“Securities
Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934, Sarbanes-Oxley and the applicable accounting
and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the Public Company
Accounting Oversight Board, as each of the foregoing may be amended and in effect on any applicable date hereunder.

 

“Securitization
Transaction” means any financing or factoring or similar transaction (or series of such transactions) entered by any
member of the Consolidated Parties pursuant to which such member of the Consolidated Parties may sell, convey or otherwise transfer,
or grant a security interest in, accounts, payments, receivables, rights to future lease payments or residuals or similar rights
to payment to a special purpose subsidiary or affiliate or any other Person.

 

“Senior Note
Indentures” means collectively, the Senior Note Indenture (2020), the Senior Note Indenture (2022) and the Senior Note
Indenture (2024).

 

“Senior Note
Indenture (2020)” means the Indenture, dated as of February 9, 2010 by and among the Borrower and the Senior Noteholders,
as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time.

 

“Senior Note
Indenture (2022)” means the Indenture, dated as of October 4, 2010 by and among the Borrower and the Senior Noteholders,
as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time.

 

“Senior Note
Indenture (2024)” means the Indenture, dated as of March 19, 2012 by and among the Borrower and the Senior Noteholders,
as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time.

 

“Senior Noteholder”
means any one of the holders from time to time of the Senior Notes.

 

“Senior Notes”
means collectively, the Senior Notes (2020), the Senior Notes (2022) and the Senior Notes (2024).

 

“Senior Notes
(2020)” means any one of the 7.5% Senior Notes due 2020 issued by the Borrower in favor of the Senior Noteholders pursuant
to the Senior Note Indenture (2020), as such Senior Notes may be amended, restated, supplemented, replaced or otherwise modified
from time to time.

 

“Senior Notes
(2022)” means any one of the 6.75% Senior Notes due 2022 issued by the Borrower
in favor of the Senior Noteholders pursuant to the Senior Note Indenture (2022), as such Senior Notes may be amended, restated,
supplemented, replaced or otherwise modified from time to time.

 

“Senior Notes
(2024)” means any one of the 5.875% Senior Notes due 2024 issued by the Borrower
in favor of the Senior Noteholders pursuant to the Senior Note Indenture (2024), as such Senior Notes may be amended, restated,
supplemented, replaced or otherwise modified from time to time.

 

    	24

    	 

    

 

“Solvent”
means, with respect to any person on a particular date, that on such date (a) the fair value of the property of such Person is
greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present
fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability
of such Person on its debts as they become absolute and matured, (c) such Person is able to realize upon its assets and pay its
debts and other liabilities, contingent obligations and other commitments as they mature, (d) such Person does not intend to, and
does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities
mature, and (e) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction,
for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing
practice in the industry in which such Person is engaged.  In computing the amount of contingent liabilities at any time,
it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing
at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

 

“Special Charges”
means, for any period, for the Consolidated Parties on a consolidated basis, all charges, costs or expenses of the Consolidated
Parties related to any of the following:

 

(a)       cash
litigation charges incurred by the Consolidated Parties; provided, that such amount shall not exceed an aggregate amount
of $10,000,000 during the term of this Credit Agreement and any such amounts in excess of $10,000,000 shall not be included in
the determination of the Special Charges Adjustment for any period;

 

(b)       non-cash
charges associated solely with respect to the write-down of the value of accounts due to straight-line rent;

 

(c)       other
than as set forth in clause (b) immediately above, additional non-cash charges associated with the write-down of the value of accounts
and/or notes receivable of the Consolidated Parties; provided, that such amount shall not exceed an aggregate amount of
$20,000,000 during the term of this Credit Agreement and any such amounts in excess of $20,000,000 shall not be included in the
determination of the Special Charges Adjustment for any period;

 

(d)       non-cash
charges related to preferred stock redemptions and non-cash compensation expenses relating to restricted stock awards, stock options
or similar equity based compensation awards;

 

(e)       non-cash
charges incurred by the Consolidated Parties in association with the write-down of the value of any real properties;

 

(f)        to
the extent applicable, the satisfaction of outstanding unamortized loan fees with respect to the Existing Credit Facility;

 

(g)       any
other non-cash charges associated with the sale or settlement by any Consolidated Party of any Swap Contract; and

 

(h)       charges
related to acquisition deal related costs.

 

    	25

    	 

    

 

“Special Charges
Adjustment” means, for any period, the amount which has been deducted for or in connection
with any Special Charges (without duplication among such items or items taken into account for previous period) in the determination
of net income for the applicable period for which a given Consolidated EBITDA calculation has been performed.

 

“Specified Loan
Party” has the meaning provided in Section 11.07.

 

“Subsidiary”
of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority
of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body
(other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially
owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person.  Unless otherwise provided, “Subsidiary” shall refer to a Subsidiary of the Borrower.

 

“Subsidiary
Guarantor” means each Subsidiary of the Borrower as of the Closing Date other than the Unrestricted Subsidiaries, together
with each Subsidiary of the Borrower subsequently created or acquired which becomes a Subsidiary Guarantor pursuant to Section 6.15(a)
hereof.

 

“Subsidiary
Guarantor Joinder Agreement” means a joinder agreement in the form of Exhibit E to be executed by each new
Subsidiary of the Borrower that is required to become a Subsidiary Guarantor in accordance with Section 6.15(a) hereof.

 

“Support Obligations”
means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect
of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”)
in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease
property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of
the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other
financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor
to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee
in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss
in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation
of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person.  The amount of any
Support Obligations shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation,
or portion thereof, in respect of which such Support Obligation is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

 

“Swap Contract”
means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity
swaps, commodity options,

 

    	26

    	 

    

 

forward commodity contracts, equity or equity
index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond
index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar
transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other
similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether
or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind,
and the related confirmations, that are subject to the terms and conditions of, or governed by, any form of master agreement published
by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other
master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including
any such obligations or liabilities under any Master Agreement.

 

“Swap Termination
Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable
netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out
and termination values determined in accordance therewith, such termination values, and (b) for any date prior to the date referenced
in clause (a), the amounts determined as the mark-to-market values for such Swap Contracts, as determined based upon one or
more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include
a Lender or any Affiliate of a Lender).

 

“Synthetic Lease”
means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing arrangement
that is considered borrowed money indebtedness for tax purposes but is classified as an operating lease under GAAP.

 

“Tenant”
means any Person who is a lessee with respect to any lease held by a Consolidated Party as lessor or as an assignee of the lessor
thereunder.

 

“Term Loan”
has the meaning provided in Section 2.01(a).

 

“Term Loan Commitment”
means, with respect to each Term Loan Lender, the commitment of such Term Loan Lender to make its portion of the Term Loan to the
Borrower pursuant to Section 2.01(a), in the principal amount set forth opposite such Term Loan Lender’s name on Schedule
2.01; provided that, at any time after funding of a Term Loan, the determinations “Required Lender” shall also
be based on the outstanding principal amount of the such Term Loan.  The aggregate principal amount of the Term Loan
Commitments of all of the Term Loan Lenders as in effect on the Closing Date is Two-Hundred Million Dollars ($200,000,000).

 

“Term Loan Commitment
Percentage” means, at any time, for each Term Loan Lender, the percentage of the Term Loan (or aggregate Term Loan Commitment,
prior to the termination thereof) held by such Term Loan Lender to the aggregate Term Loan (or Term Loan Commitments) held by all
Term Loan Lenders, as such percentage may be modified in connection with any assignment made in accordance with the provisions
of Section 10.07.  The initial Term Loan Commitment Percentages are set forth on Schedule 2.01.

 

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“Term Loan Commitment
Period” means the period from and including the Closing Date to the earlier of (a) February 28, 2014, (b) the date on
which the full amount of the Term Loan Commitment has been Borrowed or (c) the date on which the Term Loan Commitments shall have
been terminated as provided herein.

 

“Term Loan Lenders”
means a collective reference to the Lenders holding Term Loans or Term Loan Commitments.

 

“Term Loan Maturity Date”
means February 29, 2016.

 

“Term Note”
means the promissory note in the form of Exhibit B, if any, given to each Term Loan Lender to evidence the Term Loan of
such Term Loan Lender, as amended, restated, modified, supplemented, extended, renewed or replaced.

 

“Threshold Amount”
means (a) for any provision relating to the Borrower, $10,000,000 and (b) for any provision relating to any Credit Party (other
than the Borrower) or other Subsidiaries $5,000,000.

 

“Type”
means, with respect to any Term Loan, its character as a Base Rate Loan or a Eurodollar Loan.

 

“Unconsolidated
Affiliates” means an Affiliate of the Borrower whose financial statements are not required to be consolidated with the
financial statements of the Borrower in accordance with GAAP.

 

“Unencumbered
Asset Value” means the sum of the following, without duplication: (a) the quotient of (1) Unencumbered Net Revenue
for the prior fiscal quarter, minus the Unencumbered Net Revenue attributable to each Unencumbered Property sold or otherwise
disposed of during such most recently ended quarter, minus the Unencumbered Net Revenue from any Unencumbered Property acquired
during the prior fiscal quarter, multiplied by four, divided by (2) the Capitalization Rate plus (b) the acquisition cost
of each Unencumbered Property acquired during the prior fiscal quarter plus (c) the book value of unencumbered Qualified Mortgage
Loans; provided, that when calculating the Unencumbered Asset Value, (i) the aggregate occupancy of all Unencumbered Properties
contributing to the Unencumbered Asset Value, reported as of the last day of the most recently ended fiscal quarter period of the
Borrower, shall be at least 78% of in-service beds and (ii) the aggregate amount of Qualified Mortgage Loans attributable to second
mortgages or second deeds of trust added pursuant to clause (c) of this definition shall not exceed $150,000,000.

 

“Unencumbered
Net Revenue” means, for any period, Net Revenue from all Unencumbered Properties.

 

“Unencumbered
Property” means, for any Real Property Asset, the following criteria:

 

(a)       to the
best of Borrower’s knowledge, does not have any title, survey, environmental, condemnation or condemnation proceedings, or
other defects that would give rise to a materially adverse effect as to the value, use of or ability to sell or finance such property;

 

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(b)       is not
subject to a Negative Pledge or encumbered by a mortgage, deed of trust, lien, pledge, encumbrance or other security interest,
in each case, to secure Funded Debt, other than the Braswell Indebtedness;

 

(c)       100% owned
in fee simple absolute or with a leasehold interest or similar arrangement providing the right to occupy Real Property Asset pursuant
to an Eligible Ground Lease, in either case, by the Borrower or a direct or indirect Subsidiary of the Borrower;

 

(d)       shall
be located in the United States;

 

(e)       is occupied
or available for occupancy (subject to final tenant improvements);

 

(f)        is leased
to a third party Tenant and operated by a third party operator;

 

(g)       the Tenant
at such facility is not delinquent sixty (60) days or more in rent payments.

 

“Unencumbered
Property Certificate” means a certificate signed by a Responsible Officer of the Borrower in a form to be agreed upon
between the Administrative Agent and the Borrower in their reasonable discretion.

 

“Unfunded Pension
Liability” means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over
the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension
Plan pursuant to Section 412 of the Internal Revenue Code for the applicable plan year.

 

“United States”
or “U.S.” means the United States of America.

 

“Unrestricted
Subsidiaries” means the “Unrestricted Subsidiaries” as such term is defined from time to time in the Senior
Note Indentures; provided, that to the extent the Senior Note Indentures are, for any reason, both terminated, the term
“Unrestricted Subsidiaries” shall, for the remainder of the term of this Agreement, have the meaning assigned to such
term in the Senior Note Indentures immediately prior to the termination thereof.

 

“Unused Fee”
has the meaning given such term in Section 2.07(a).

 

“Wholly Owned”
means, with respect to any direct or indirect Subsidiary of any Person, that 100% of the Capital Stock with ordinary voting power
issued by such Subsidiary (other than directors’ qualifying shares and investments by foreign nationals mandated by applicable
Law) is beneficially owned, directly or indirectly, by such Person.

 

1.02       Interpretive Provisions.

 

With reference to this
Credit Agreement and each other Credit Document, unless otherwise provided herein or in such other Credit Document:

 

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(a)          The
meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 

(b)          (i)         The
words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import
when used in any Credit Document shall refer to such Credit Document as a whole and not to any particular provision thereof.

 

(ii)        Unless
otherwise provided or required by context, Article, Section, Exhibit and Schedule references are to the Credit Document
in which such reference appears.

 

(iii)       The
term “including” is by way of example and not limitation.

 

(iv)       The
term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial
statements and other writings, however evidenced, whether in physical or electronic form.

 

(c)          In
the computation of periods of time from a specified date to a later specified date, the word “from” means “from
and including”; the words “to” and “until” each mean “to but excluding”; and the word
“through” means “to and including.”

 

(d)          Section headings
herein and in the other Credit Documents are included for convenience of reference only and shall not affect the interpretation
of this Credit Agreement or any other Credit Document.

 

1.03       Accounting Terms.

 

(a)         All accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial
ratios and other financial calculations) required to be submitted pursuant to this Credit Agreement shall be prepared in conformity
with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing
the Audited Financial Statements except as otherwise specifically prescribed herein.

 

(b)         The Borrower will
provide a written summary of material changes in GAAP or in the consistent application thereof with each annual and quarterly Compliance
Certificate delivered in accordance with Section 6.02(a).  If at any time any change in GAAP or in the consistent
application thereof would affect the computation of any financial ratio or requirement set forth in any Credit Document, and either
the Borrower or the Required Lenders shall object in writing to determining compliance based on such change, then such computations
shall continue to be made on a basis consistent with the most recent financial statements delivered pursuant to Section 6.01(a)
or (b) as to which no such objection has been made.

 

(c)         Determinations
of the calculation of and compliance with the financial covenants set forth in Section 6.12(d), (f) and (g)
hereunder shall be made on a Pro Forma Basis.

 

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1.04       Rounding.

 

Any financial ratios required
to be maintained by the Borrower pursuant to this Credit Agreement shall be calculated by dividing the appropriate component by
the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and
rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).

 

1.05       References to Agreements and Laws.

 

Unless otherwise expressly
provided herein, (a) references to Organization Documents, agreements (including the Credit Documents) and other contractual instruments
shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but
only to the extent that such amendments, restatements, extensions, supplements and other modifications are not prohibited by any
Credit Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending,
replacing, supplementing or interpreting such Law.

 

1.06       Times of Day; Rates.

 

Unless otherwise provided,
all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).

 

The Administrative Agent
does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration,
submission or any other matter related to the rates in the definition of “Eurodollar Rate” or with respect to any comparable
or successor rate thereto.

 

ARTICLE II

COMMITMENTS AND EXTENSION OF CREDITS

 

2.01       Commitments.

 

Subject to the terms
and conditions set forth herein:

 

(a)          Term
Loans.    Not more than three (3) times during the Term Loan Commitment Period, each Term Loan Lender severally agrees
to make term loans (each a “Term Loan”) to the Borrower on any Business Day; provided, that after giving
effect to any such Term Loan, (i) with regard to the Term Loan Lenders collectively, the aggregate outstanding principal amount
of Term Loans shall not exceed TWO HUNDRED MILLION DOLLARS ($200,000,000), and (ii) with regard to each Term Loan Lender
individually, such Term Loan Lender’s Term Loan Commitment Percentage of outstanding Term Loans shall not exceed its respective
Term Loan Commitment.  Term Loans may consist of Base Rate Loans, Eurodollar Loans, or a combination thereof, as provided
herein.  Term Loans may be repaid in whole or in part at any time but amounts repaid on the Term Loan may not be reborrowed.

 

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(b)         Addition
of Incremental Term Loan Facilities.    The Borrower shall have the right, upon at least five (5) Business Days’
prior written notice to the Administrative Agent, to add one or more tranches of term loans (each an “Incremental Term
Loan Facility”; each Incremental Term Loan Facility collectively referred to as “Incremental Facilities”).  At
the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within
which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery
of such notice to the Lenders).  Such Incremental Facilities shall be subject to the following:

 

(i)          the aggregate
principal amount of all Incremental Facilities shall not exceed $200,000,000;

 

(ii)         no Default
or Event of Default shall exist on the effective date of any Incremental Facility or would exist after giving effect to any such
Incremental Facility;

 

(iii)        no existing
Lender shall be under any obligation to provide any commitment to an Incremental Facility (an “Incremental Facility Commitment”)
and any such decision whether to provide an Incremental Facility Commitment shall be in such Lender’s sole and absolute discretion;

 

(iv)        each Incremental
Facility Commitment shall be in a minimum principal amount of $5,000,000 and in integral multiples of $1,000,000 in excess thereof
(or such lesser amounts as the Administrative Agent and the Borrower may agree);

 

(v)         each Person
providing an Incremental Facility Commitment shall qualify as an Eligible Assignee;

 

(vi)        the Borrower
shall deliver to the Administrative Agent:

 

(A)        a
certificate of each Credit Party dated as of the date of such increase signed by a Responsible Officer of such Credit Party certifying
and attaching resolutions adopted by the board of directors or equivalent governing body of such Credit Party approving such Incremental
Facility;

 

(B)         a
certificate of the Borrower dated as of the effective date of such Incremental Facility signed by a Responsible Officer of the
Borrower certifying that, before and after giving effect to such Incremental Facility, (I) the representations and warranties
of each Credit Party contained in Article V or any other Credit Document, or which are contained in any document furnished
at any time under or in connection herewith or therewith, shall be true and correct in all material respects on and as of the date
of such increase, except to the extent that such representations and warranties specifically refer to an earlier date, in

 

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which case they shall be true and
correct in all material respects as of such earlier date, and (II) no Default or Event of Default exists;

 

(C)         any new
or amended and restated Notes (to the extent requested by the Lenders) to reflect such Incremental Facilities;

 

(D)        opinions
of legal counsel to the Credit Parties, addressed to the Administrative Agent and each Lender (including each Person providing
an Incremental Facility Commitment), dated as of the effective date of such Incremental Facility, in form and substance reasonably
satisfactory to the Administrative Agent; and

 

(E)         all fees
required under any engagement letter due in connection with the syndication of the commitments to fund such Incremental Facility
by the Arranger;

 

(vii)       the Administrative
Agent shall have received documentation from each Person providing an Incremental Facility Commitment evidencing its Incremental
Facility Commitment and its obligations under this Agreement in form and substance reasonably acceptable to the Administrative
Agent, including, without limitation a Lender Joinder Agreement substantially in the form of Exhibit F attached hereto
or other arrangement reasonably acceptable to the Administrative Agent.

 

The Incremental Facility Commitments
and credit extensions thereunder shall constitute Commitments and Obligations under, and shall be entitled to all the benefits
afforded by, this Credit Agreement and the other Credit Documents, and shall, without limiting the foregoing, benefit equally and
ratably from the Guaranty.

 

(c)          If any
amendment to this Credit Agreement is required to give effect to any addition of Incremental Facilities pursuant to and in accordance
with Section 2.01(b), then such amendment shall be effective if executed by the Credit Parties, each Lender providing such
Incremental Facility Commitment and the Administrative Agent (each such amendment is a “Commitment Increase Amendment”).

 

2.02       Borrowings, Conversions and Continuations.

 

(a)         Each Borrowing,
each conversion of Loans from one Type to the other, and each continuation of Eurodollar Loans shall be made upon the Borrower’s
irrevocable notice to the Administrative Agent, which may be given by telephone.  Each such notice must be received by
the Administrative Agent not later than 11:00 a.m. (i) with respect to Eurodollar Loans, three (3) Business Days prior
to, or (ii) with respect to Base Rate Loans, on the requested date of, the requested date of any Borrowing, conversion or continuation.  Each
telephonic notice pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent
of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower.  Each Borrowing,
conversion or continuation shall be in a principal amount of (i) with respect to Eurodollar Loans, $1,000,000 or a whole multiple
of $1,000,000 in excess thereof or

 

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(ii) with respect to Base Rate Loans, $500,000
or a whole multiple of $100,000 in excess thereof.  Each Loan Notice (whether telephonic or written) shall specify (i)
whether such request is for a Borrowing, conversion, or continuation, (ii) the requested date of such Borrowing, conversion
or continuation (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv)
the Type of Loans to be borrowed, converted or continued, and (v) if applicable, the duration of the Interest Period with respect
thereto.  If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to give a timely
notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans.  Any
automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect
to the applicable Eurodollar Loans.  If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar
Loans in any Loan Notice, but fails to specify an Interest Period, the Interest Period will be deemed to be one month.

 

(b)         Following receipt
of a Loan Notice, the Administrative Agent shall promptly notify each Lender, as applicable, of the amount of its Term Loan Commitment
Percentage of the applicable Loans, as the case may be, and if no timely notice of a conversion or continuation is provided by
the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described
in the preceding subsection.  In the case of a Borrowing, each Lender, as applicable, shall make the amount of its Loan
available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than
2:00 p.m. on the Business Day specified in the applicable Loan Notice.  Upon satisfaction of the applicable conditions
set forth in Section 4.02 (and, if such Borrowing is the initial Extension of Credit, Section 4.01), the
Administrative Agent shall make all funds so received available to the party referenced in the applicable Loan Notice in like funds
as received by the Administrative Agent either by (i) crediting the account of the applicable party on the books of the Administrative
Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided
to (and reasonably acceptable to) the Administrative Agent by the Borrower.

 

(c)         Except as otherwise
provided herein, without the consent of the Required Lenders, (i) a Eurodollar Loan may be continued or converted only on the last
day of an Interest Period for such Eurodollar Loan and (ii) any conversion into, or continuation as, a Eurodollar Loan may be made
only if the conditions to Extension of Credits in Section 4.02 have been satisfied.  During the existence
of a Default or Event of Default, (i) no Loan may be requested as, converted to or continued as a Eurodollar Loan and (ii) at the
request of the Required Lenders, any outstanding Eurodollar Loan shall be converted immediately to a Base Rate Loan.

 

(d)         The Administrative
Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for Eurodollar
Loans upon determination of such interest rate.  The determination of the Eurodollar Rate by the Administrative Agent
shall be conclusive in the absence of manifest error.  At any time that Base Rate Loans are outstanding, the Administrative
Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in determining the Base
Rate promptly following the public announcement of such change.

 

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(e)         After giving effect
to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same Type, there
shall not be more than five (5) Interest Periods in effect with respect to Loans.

 

2.03       Repayment of Loans.

 

The Borrower shall repay
to the Term Loan Lenders on the Term Loan Maturity Date the aggregate principal amount of Term Loans outstanding on such date.

 

2.04       Prepayments.

 

(a)         Voluntary Prepayments.    The
Loans may be repaid in whole or in part without premium or penalty (except, in the case of Loans other than Base Rate Loans, amounts
payable pursuant to Section 3.05); provided, that (i) notice thereof must be received by 11:00 a.m. by
the Administrative Agent (A) at least three (3) Business Days prior to the date of prepayment of Eurodollar Loans, and (B)
on the Business Day prior to the date of prepayment of Base Rate Loans, and (ii) any such prepayment shall be in a minimum principal
amount of $1,000,000 and integral multiples of $1,000,000 in excess thereof, in the case of Eurodollar Loans, and a minimum principal
amount of $500,000 and integral multiples of $100,000 in excess thereof, in the case of Base Rate Loans, or, in each case, the
entire principal amount thereof, if less.  Each such notice of voluntary repayment hereunder shall be irrevocable and
shall specify the date and amount of prepayment and the Loans and Types of Loans which are to be prepaid.  The Administrative
Agent will give prompt notice to the applicable Lenders of any prepayment on the Loans and the Lender’s interest therein.  Prepayments
of Eurodollar Loans hereunder shall be accompanied by accrued interest thereon and breakage amounts, if any, under Section 3.05.

 

(b)         Application.    Within
each Loan, prepayments will be applied first to Base Rate Loans, then to Eurodollar Loans in direct order of Interest Period maturities.  In
addition:

 

(i)         Voluntary
Prepayments.    Voluntary prepayments shall be applied as specified by the Borrower.  Voluntary prepayments
will be paid by the Administrative Agent to the Term Loan Lenders ratably in accordance with their respective interests therein.

 

2.05       Termination or Reduction of Commitments.

 

The Term Loan Commitments
hereunder may be permanently reduced in whole or in part by notice from the Borrower to the Administrative Agent; provided,
that any such notice thereof must be received by 11:00 a.m. at least five (5) Business Days prior to the date of reduction
or termination and any such prepayment shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000
in excess thereof.  The Administrative Agent will give prompt notice to the Lenders, as the case may be, of any such
reduction in Term Loan Commitments.  Any reduction of the Term Loan Commitments shall be applied to the respective Commitment
of each such Lender according to its Term Loan Commitment Percentage thereof.  All commitment or other fees accrued until
the effective date of any termination of the Commitments shall be paid on the effective date of such termination.

 

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2.06       Interest.

 

(a)         Subject to the
provisions of subsection (b) below, (i) each Eurodollar Loan shall bear interest on the outstanding principal amount thereof
for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and
(ii) each Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing
date at a rate per annum equal to the Base Rate plus the Applicable Rate.

 

(b)         If any amount
payable by the Borrower under any Credit Document is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per
annum at all times equal to the Default Rate to the fullest extent permitted by applicable Law.  Furthermore, upon the
written request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount
of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Law.  Accrued and unpaid interest on past due amounts (including interest on past
due interest) shall be due and payable upon demand.

 

(c)        Interest on each
Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified
herein.  Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and
before and after the commencement of any proceeding under any Debtor Relief Law.

 

2.07       Fees.

 

(a)         Unused Fee.    During
the Term Loan Commitment Period, the Borrower agrees to pay the Administrative Agent for the ratable benefit of the Term Loan Lenders
an unused fee (the “Unused Fee”) in an amount equal to (a) 0.30% per annum, multiplied by (b) the amount
of the unused Term Loan Commitments as of the beginning of each day.  To the extent applicable, the Unused Fee shall
accrue at all times during the Term Loan Commitment Period (for so long as Term Loan Commitments shall remain outstanding), including
periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable in
a single payment on the last day of the Term Loan Commitment Period; provided, that, pursuant to Section 2.12(a)(iii),
(i) no Unused Fee shall accrue on the Term Loan Commitment of a Defaulting Lender so long as such Term Loan Lender shall be a Defaulting
Lender and (ii) any Unused Fee accrued with respect to the Term Loan Commitment of a Defaulting Lender during the period prior
to the time such Term Loan Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long
as such Term Loan Lender shall be a Defaulting Lender.  The Administrative Agent shall distribute the Unused Fee to the
Term Loan Lenders pro rata in accordance with the respective Term Loan Commitments of the Term Loan Lenders.

 

(b)         Fees.    The
Borrower agrees to pay to the Administrative Agent for the benefit of the Lenders the fees provided in the Fee Letter.

 

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(c)         Administrative
Agent’s Fees.    The Borrower agrees to pay the Administrative Agent such fees as provided in the Fee Letter
or as may be otherwise agreed by the Administrative Agent and the Borrower from time to time.

 

(d)         Other Fees.

 

(i)        The
Borrower shall pay to the Arranger and the Administrative Agent for their own respective accounts fees in the amounts and at the
times specified in the Fee Letter.  Such fees shall be fully earned when paid and shall not be refundable for any reason
whatsoever.

 

(ii)       The
Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times
so specified.  Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 

2.08       Computation of Interest and Fees.

 

All computations of interest
for Base Rate Loans shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All
other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in
more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).  Interest shall accrue
on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which
the Loan or such portion is paid; provided, that any Loan that is repaid on the same day on which it is made shall, subject
to Section 2.09(a), bear interest for one day.

 

2.09       Payments Generally.

 

(a)         All payments to
be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff.  Except
as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the
account of the Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately
available funds not later than 2:00 p.m. on the date specified herein.  The Administrative Agent will promptly distribute
to each Lender its Term Loan Commitment Percentage (or other applicable share as provided herein) of such payment in like funds
as received by wire transfer to such Lender’s Lending Office.  All payments received by the Administrative Agent
after 2:00 p.m. shall be deemed received on the immediately succeeding Business Day and any applicable interest or fee shall
continue to accrue.

 

(b)         Subject to the
definition of “Interest Period,” if any payment to be made by the Borrower shall come due on a day other than a Business
Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest
or fees, as the case may be.

 

(c)         Unless the Borrower
or any Lender has notified the Administrative Agent, prior to the date (or in the case of any Base Rate Loan, prior to 12:00 (Noon)
on the date of such Borrowing) any payment is required to be made by it to the Administrative Agent hereunder, that the Borrower
or such Lender, as the case may be, will not make such payment, the

 

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Administrative Agent may assume that the Borrower
or such Lender, as the case may be, has timely made such payment and may (but shall not be so required to), in reliance thereon,
make available a corresponding amount to the Person entitled thereto.  If and to the extent that such payment was not
in fact made to the Administrative Agent in immediately available funds, then:

 

(i)        if
the Borrower fails to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent the portion of
such assumed payment that was made available to such Lender in immediately available funds, together with interest thereon in respect
of each day from and including the date such amount was made available by the Administrative Agent to such Lender to the date such
amount is repaid to the Administrative Agent in immediately available funds at the Federal Funds Rate from time to time in effect;
and

 

(ii)       if
any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof
in immediately available funds, together with interest thereon for the period from the date such amount was made available by the
Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the “Compensation
Period”) at a rate per annum equal to the Federal Funds Rate from time to time in effect.  If such Lender pays
such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in the applicable
Borrowing.  If such Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefor,
the Administrative Agent may make a demand therefor upon the Borrower, and the Borrower shall pay such amount to the Administrative
Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable
to the applicable Borrowing.  Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its
Commitment or to prejudice any rights that the Administrative Agent or the Borrower may have against any Lender as a result of
any default by such Lender hereunder.

 

A notice of the Administrative Agent to any
Lender or the Borrower with respect to any amount owing under this subsection (c) shall be conclusive, absent manifest error.

 

(d)          If any Lender makes
available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this
Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the
applicable Extension of Credit set forth in Section 4.02 are not satisfied or waived in accordance with the terms hereof
or for any other reason, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such
Lender, without interest.

 

(e)         The obligations
of the Term Loan Lenders hereunder to make Term Loans are several and not joint.  The failure of any Lender to make any
Loan on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, nor
relieve Borrower from any obligations hereunder to the Lenders which fulfill such obligations and no Lender shall be responsible
for the failure of any other Lender to so make its Loan.

 

    	38

    	 

    

 

(f)          Nothing herein
shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation
by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner.

 

(g)         If at any time
insufficient funds are received by or are available to the Administrative Agent to pay fully all amounts of principal, interest
and fees then due hereunder, such funds shall be applied (i) first, toward costs and expenses (including Attorney Costs and amounts
payable under Article III) incurred by the Administrative Agent and each Lender, (ii) second, toward repayment of interest
and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then
due to such parties, and (iii) third, toward repayment of principal then due hereunder, ratably among the parties entitled thereto
in accordance with the amounts of principal then due to such parties.

 

2.10       Sharing of Payments.

 

If any Lender shall obtain
on account of the Loans made by it, any payment (whether voluntary, involuntary, through the exercise of any right of set-off,
or otherwise, but excluding any payments made to a Lender in error by the Administrative Agent (which such payments shall be returned
by the Lender to the Administrative Agent immediately upon such Lender’s obtaining knowledge that such payment was made in
error)) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify
the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by them as
shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Loans pro rata with each of them;
provided, however, that (i) if all or any portion of such excess payment is thereafter recovered from the purchasing
Lender under any of the circumstances described in Section 10.06 (including pursuant to any settlement entered into
by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay
to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable
share (according to the proportion of (A) the amount of such paying Lender’s required repayment to (B) the total amount so
recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the
total amount so recovered, without further interest thereon and (ii) the provisions of this Section shall not be construed to apply
to (A) any payment made by or on behalf of the Borrower pursuant to and in accordance with the express terms of this Agreement
(including the application of funds arising from the existence of a Defaulting Lender), or (B) any payment obtained by a Lender
as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than
an assignment to any Credit Party or any Subsidiary thereof (as to which the provisions of this Section shall apply).  The
Borrower agrees that any Lender so purchasing a participation from another Lender may, to the fullest extent permitted by law,
exercise all its rights of payment (including the right of set-off, but subject to Section 10.09) with respect to such
participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation.  The
Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations
purchased under this Section and will in each case notify the Lenders following any such purchases or repayments.  Each
Lender that purchases a participation pursuant to this Section shall from and after such purchase have the right to give all
notices, requests, demands, directions and other communications under this

 

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Credit Agreement with respect to the portion
of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

 

2.11       Evidence of Debt.

 

The Extension of Credits
made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent
in the ordinary course of business.  The accounts or records maintained by the Administrative Agent and each Lender shall
be conclusive absent manifest error of the amount of the Extension of Credits made by the Lenders to the Borrower and the interest
and payments thereon.  Any failure to so record or any error in doing so shall not, however, limit or otherwise affect
the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations.  In the event of any
conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in
respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.  The
Borrower shall execute and deliver to the Administrative Agent a Note for each Lender, requesting a Note, which Note shall evidence
such Lender’s Loans in addition to such accounts or records.  Each Lender may attach schedules to its Note and
endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.

 

2.12       Defaulting Lenders.

 

(a)          Adjustments.    Notwithstanding
anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that
Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law:

 

(i)        Waivers
and Amendments.    Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with
respect to this Agreement shall be restricted as set forth in the definitions of “Required Lenders” and Section
10.01.

 

(ii)       Defaulting
Lender Waterfall.    Any payment of principal, interest, fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise)
or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.09 shall be applied at such time
or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, as the Borrower may request (so long as no Default or Event
of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative
Agent and the Borrower, to be held in a deposit account and released pro rata in order to satisfy such Defaulting Lender’s
potential future funding obligations with respect to Loans under this Agreement; fourth, to the payment of any amounts owing
to the Lenders, as a result of any judgment of a court of competent jurisdiction obtained by any Lender, against such Defaulting
Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no
Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result

 

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of any judgment of a court of competent
jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; and sixth, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans in respect of which such
Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made at a time when the conditions set forth
in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of all Non-Defaulting
Lenders on a pro rata basis prior to being applied to the payment of any Loans of such Defaulting Lender until such time as all
Loans are held by the Lenders pro rata in accordance with the Commitments hereunder. Any payments, prepayments or other amounts
paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender shall be deemed paid
to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)                      Certain
Fees.

 

(A)        Each Defaulting
Lender shall not be entitled to receive fees payable under Section 2.07(a) for any period during which that Lender is a
Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been
paid to each such Defaulting Lender).

 

(B)        Defaulting
Lender Cure.    If the Borrower and the Administrative Agent agree in writing that a Lender is no longer a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice
and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase at par that portion of outstanding
Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans
to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages, whereupon such Lender will cease
to be a Defaulting Lender provided that no adjustments will be made retroactively with respect to fees accrued or payments
made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except
to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute
a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

ARTICLE III

TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01       Taxes.

 

(a)         Any and all payments
by any Credit Party to or for the account of the Administrative Agent or any Lender under any Credit Document shall be made free
and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions,

 

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assessments, fees, withholdings or similar
charges, and all liabilities with respect thereto, excluding, in the case of the Administrative Agent and each Lender, taxes imposed
on or measured by its overall net income, and franchise and excise taxes imposed on it (in lieu of net income taxes), as a result
of a present or former connection between the Administrative Agent or such Lender and the jurisdiction of the Governmental Authority
imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely
from the Administrative Agent’s or such Lender’s having executed, delivered or performed its obligations or received
a payment under, or enforced, this Credit Agreement or any other Credit Document) (all such non-excluded taxes, duties, levies,
imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”).  If
any Credit Party shall be required by any Laws to deduct any Taxes from or in respect of any sum payable under any Credit Document
to the Administrative Agent or any Lender, (i) the sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section), each of the Administrative Agent and
such Lender receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Credit Party
shall make such deductions, (iii) such Credit Party shall pay the full amount deducted to the relevant taxation authority or other
authority in accordance with applicable Laws, and (iv) within thirty (30) days after the date of such payment, such Credit Party
shall furnish to the Administrative Agent (which shall forward the same to such Lender) the original or a certified copy of a receipt
evidencing payment thereof.

 

(b)         In addition, the
Borrower agrees to pay any and all present or future stamp, court or documentary taxes or charges or similar levies which arise
from any payment made under any Credit Document or from the execution, delivery, performance, enforcement or registration of, or
otherwise with respect to, any Credit Document (hereinafter referred to as “Other Taxes”).  For
the avoidance of doubt, “Other Taxes” shall not include any taxes assessed on the net or gross income of a taxpayer,
regardless of whether such taxes are designated excise or property taxes.

 

(c)         If the Borrower
shall be required to deduct or pay any Taxes or Other Taxes from or in respect of any sum payable under any Credit Document to
the Administrative Agent or any Lender, the Borrower shall also pay to the Administrative Agent or to such Lender, as the case
may be, at the time interest is paid, such additional amount that the Administrative Agent or such Lender specifies is necessary
to preserve the after-tax yield (after factoring in all taxes, including taxes imposed on or measured by net income) that the Administrative
Agent or such Lender would have received if such Taxes or Other Taxes had not been imposed.

 

(d)         The Borrower agrees
to indemnify the Administrative Agent and each Lender for (i) the full amount of Taxes and Other Taxes (including any Taxes or
Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section) that are paid by the Administrative
Agent and such Lender and that are the responsibility of the Borrower, (ii) amounts payable under Section 3.01(c)
and (iii) any liability (including additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto,
in each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority.  Payment under this subsection (d) shall be made within thirty (30) days after the date the Lender or
the Administrative Agent makes a written demand therefor.

 

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3.02       Illegality.

 

If any Lender determines
that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable
Lending Office to make, maintain or fund Eurodollar Loans, or to determine or charge interest rates based upon the Eurodollar Rate,
then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such Lender to make
or continue Eurodollar Loans or to convert Base Rate Loans to Eurodollar Loans shall be suspended until such Lender notifies the
Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.  Upon
receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or,
if applicable, convert all Eurodollar Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor,
if such Lender may lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such Lender may not lawfully
continue to maintain such Eurodollar Loans.  Upon any such prepayment or conversion, the Borrower shall also pay accrued
interest on the amount so prepaid or converted.  Each Lender agrees to designate a different Lending Office if such designation
will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous
to such Lender.

 

3.03       Inability to Determine Rates.

 

If in connection with any
request for a Eurodollar Loan or a conversion to or continuation thereof, (a)  the Administrative Agent determines that (i)
Dollar deposits are not being offered to banks in the London interbank market for the applicable amount and Interest Period of
such Eurodollar Loan, or (ii) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested
Interest Period with respect to a proposed Eurodollar Loan or in connection with an existing or proposed Base Rate Loan (in each
case with respect to clause (a) (i) above, “Impacted Loans”), or (b) the Administrative Agent or the Required
Lenders determine that for any reason the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar
Loan does not adequately and fairly reflect the cost to such Lenders of funding such Eurodollar Loan, the Administrative Agent
will promptly so notify the Borrower and each Lender.  Thereafter, (x) the obligation of the Lenders to make or
maintain Eurodollar Loans shall be suspended, (to the extent of the affected Eurodollar Loans or Interest Periods), and (y) in
the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Base Rate,
the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case until the Administrative
Agent upon the instruction of the Required Lenders revokes such notice.  Upon receipt of such notice, the Borrower may
revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Loans (to the extent of the affected
Eurodollar Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Committed
Borrowing of Base Rate Loans in the amount specified therein.

 

Notwithstanding the foregoing,
if the Administrative Agent has made the determination described in clause (a) (i) of this section, the Administrative Agent, in
consultation with the Borrower and the affected Lenders, may establish an alternative interest rate for the Impacted Loans,
 in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative
Agent revokes the notice delivered with respect to the

 

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Impacted Loans under clause (a) of the first
sentence of this section, (2) the Administrative Agent or the Required Lenders notify the Administrative Agent and the Borrower
that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans,
or (3) any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful,
for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such
alternative rate of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed
material restrictions on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the
Borrower written notice thereof.

 

3.04       Increased Cost
and Reduced Return; Capital Adequacy; Reserves on Eurodollar Loans.

 

(a)         If any Lender
determines that as a result of any Change in Law, or such Lender’s compliance therewith, there shall be any increase in the
cost to such Lender of agreeing to make or making, funding or maintaining Eurodollar Loans or a reduction in the amount received
or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this subsection (a) any such
increased costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to which Section 3.01 shall govern),
(ii) changes in the basis of taxation of overall net income or overall gross income by the United States or any foreign jurisdiction
or any political subdivision of either thereof under the Laws of which such Lender is organized or has its Lending Office, and
(iii) reserve requirements contemplated by Section 3.04(c)), then from time to time upon demand of such Lender (with
a copy of such demand to the Administrative Agent), the Borrower shall pay to such Lender such additional amounts as will compensate
such Lender for such increased cost or reduction.

 

(b)         If any Lender
determines that any Change in Law regarding capital adequacy or liquidity requirements, or compliance by such Lender (or its Lending
Office) therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such
Lender as a consequence of such Lender’s obligations hereunder (taking into consideration its policies (and the policies
of such Lender’s holding company) with respect to capital adequacy and such Lender’s desired return on capital), then
from time to time upon demand of such Lender (with a copy of such demand to the Administrative Agent), the Borrower shall pay to
such Lender such additional amounts as will compensate such Lender for such reduction.

 

(c)         The Borrower shall
pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting
of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest
on the unpaid principal amount of each Eurodollar Loan equal to the actual costs of such reserves allocated to such Loan by such
Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on
each date on which interest is payable on such Loan; provided, the Borrower shall have received at least fifteen (15) days’
prior written notice (with a copy to the Administrative Agent) of such additional interest from such Lender.  If a Lender
fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable
fifteen (15) days from receipt of such notice.

 

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3.05       Funding Losses.

 

Upon demand of any Lender
(with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such
Lender harmless from any loss, cost or expense incurred by it as a result of:

 

(a)          any
continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

 

(b)         any
failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert
any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or

 

(c)          any
assignment of a Eurodollar Loan on a day other than the last day of the Interest Period therefor as a result of a request by the
Borrower pursuant to Section 10.16;

 

including any loss of anticipated profits and
any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable
to terminate the deposits from which such funds were obtained.  The Borrower shall also pay any customary administrative
fees charged by such Lender in connection with the foregoing.

 

For purposes of calculating amounts payable
by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar
Loan made by it at the Eurodollar Base Rate used in determining the Eurodollar Rate for such Loan by a matching deposit or other
borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar
Loan was in fact so funded.

 

3.06       Matters Applicable to all Requests for Compensation.

 

(a)          A certificate of
the Administrative Agent or any Lender claiming compensation under this Article III and setting forth the additional amount
or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error.  In determining such amount,
the Administrative Agent or such Lender may use any reasonable averaging and attribution methods.

 

(b)          Upon any Lender’s
making a claim for compensation under Section 3.01 or 3.04, the Borrower may replace such Lender in accordance
with Section 10.16.

 

3.07       Survival.

 

All of the Borrower’s
obligations under this Article III shall survive termination of the Commitments and repayment of all other Obligations hereunder.

 

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ARTICLE IV

CONDITIONS PRECEDENT TO EXTENSION OF CREDITS

 

The obligation of each
Lender to make Extensions of Credit hereunder is subject to satisfaction of the following conditions precedent:

 

4.01       Conditions to Initial Extensions of Credit.

 

The obligation of the
Lenders to make the initial Extension of Credit hereunder is subject to the satisfaction of such of the following conditions in
all material respects on or prior to the Closing Date as shall not have been expressly waived in writing by the Administrative
Agent and Lenders.

 

(a)          Credit
Documents, Organization Documents, Etc.    The Administrative Agent’s receipt of the following, each of which
shall be originals or facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible
Officer of the signing Credit Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a
recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent:

 

(i)          executed
counterparts of this Credit Agreement and the other Credit Documents;

 

(ii)         a Note
executed by the Borrower in favor of each Lender requesting a Note;

 

(iii)        copies
of the Organization Documents of each Credit Party (not included in (iv) below) certified to be true and complete as of a recent
date by the appropriate Governmental Authority of the state or other jurisdiction of its incorporation or organization, where applicable,
and certified by a secretary or assistant secretary of such Credit Party to be true and correct as of the Closing Date;

 

(iv)        [reserved];

 

(v)         such
certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each
Credit Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer
thereof authorized to act as a Responsible Officer in connection with this Credit Agreement and the other Credit Documents to which
such Credit Party is a party; and

 

(vi)        such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Credit Party is duly organized
or formed, and is validly existing, in good standing and qualified to engage in business in the jurisdiction of their incorporation
or organization.

 

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(b)        Opinions
of Counsel.    The Administrative Agent shall have received, in each case dated as of the Closing Date and in form
and substance reasonably satisfactory to the Administrative Agent a legal opinion of (i) Kaye Scholer LLP, special New York and
Delaware counsel for the Credit Parties and (ii) special local counsel for the Credit Parties for the states of Maryland and Ohio,
in each case addressed to the Administrative Agent, its counsel and the Lenders.

 

(c)         Officer’s
Certificates.    The Administrative Agent shall have received a certificate or certificates executed by a Responsible
Officer of the Borrower as of the Closing Date, in a form satisfactory to the Administrative Agent, stating that (i) each Credit
Party is in compliance with all existing financial obligations (whether pursuant to the terms and conditions of this Credit Agreement
or otherwise), (ii) all governmental, shareholder and third party consents and approvals, if any, with respect to the Credit Documents
and the transactions contemplated thereby have been obtained, (iii) no action, suit, investigation or proceeding is pending or
threatened in any court or before any arbitrator or governmental instrumentality that purports to affect any Consolidated Party
or any transaction contemplated by the Credit Documents, if such action, suit, investigation or proceeding could have a Material
Adverse Effect, (iv) immediately prior to and following the transactions contemplated herein, each of the Credit Parties shall
be Solvent, and (v) immediately after the execution of this Credit Agreement and the other Credit Documents, (A) no Default or
Event of Default exists and (B) all representations and warranties contained herein and in the other Credit Documents are true
and correct in all material respects.

 

(d)        Financial
Statements.    Receipt by the Administrative Agent and the Lenders of (i) pro forma projections of financial statements
(balance sheet, income and cash flows) for each of the fiscal years of the Consolidated Parties through December 31, 2015 and (ii)
such other information relating to the Consolidated Parties as the Administrative Agent may reasonably require in connection with
the structuring and syndication of credit facilities of the type described herein.

 

(e)         Opening
Compliance Certificate.    Receipt by the Administrative Agent of a Compliance Certificate as of the Closing Date signed
by a Responsible Officer of the Borrower and including (i) pro forma calculations for the current fiscal quarter based on the amounts
set forth in the unaudited financial statements for the fiscal quarter ending September 30, 2013 and taking into account any Extension
of Credit made or requested hereunder as of such date and (ii) pro forma calculations of all financial covenants contained herein
for each of the following four (4) fiscal quarters (based on the projections set forth in the materials delivered pursuant
to clause (d) of this Section 4.01).

 

(f)         Unencumbered
Property Certificate.    Receipt by the Administrative Agent of an Unencumbered Property Certificate as of the Closing
Date signed by a Responsible Officer of the Borrower.

 

(g)        Consents/Approvals.    The
Credit Parties shall have received all approvals, consents and waivers, and shall have made or given all necessary filings and
notices as shall be required to consummate the transactions contemplated hereby without the

 

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occurrence of any default under,
conflict with or violation of (i) any applicable Law or (ii) any agreement, document or instrument to which any Credit Party is
a party or by which any of them or their respective properties is bound, except for such approvals, consents, waivers, filings
and notices the receipt, making or giving of which would not reasonably be likely to (A) have a Material Adverse Effect, or (B)
restrain or enjoin, impose materially burdensome conditions on, or otherwise materially and adversely affect the ability of the
Borrower or any other Credit Party to fulfill its respective obligations under the Credit Documents to which it is a party.

 

(h)        Material
Adverse Change.    No material adverse change shall have occurred since December 31, 2012 in the condition (financial
or otherwise), business, assets, operations, management or prospects of the Borrower and its Consolidated Subsidiaries, taken as
a whole.

 

(i)          Litigation.    There
shall not exist any pending or threatened action, suit, investigation or proceeding against any Credit Party or any of their Affiliates
that could reasonably be expected to have a Material Adverse Effect or could otherwise materially and adversely affect the transactions
set forth herein or contemplated hereby.

 

(j)          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 Credit Agreement and the other Credit Documents which are due and payable on the Closing
Date, including, without limitation, payment to the Administrative Agent of the fees set forth in the Fee Letter.

 

Without limiting the
generality of the provisions of Section 9.03, for purposes of determining compliance with the conditions specified
in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or
accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable
or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing
Date specifying its objection thereto.

 

4.02       Conditions to Extensions of Credit.

 

The obligation of any
Lender to make any Extension of Credit hereunder is subject to the satisfaction of such of the following conditions on or prior
to the proposed date of the making of such Extension of Credit:

 

(a)         The
Administrative Agent shall receive the applicable Request for Extension of Credit and the conditions set forth in Section 4.01
for the initial Extension of Credit shall have been met as of the Closing Date;

 

(b)        No
Default shall have occurred and be continuing immediately before the making of such Extension of Credit and no Default shall exist
immediately thereafter;

 

(c)         The
representations and warranties of the Borrower made in or pursuant to the Credit Documents shall be true in all material respects
on and as of the date of such Extension of Credit;

 

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(d)        The
amount of such requested Extension of Credit shall not exceed the aggregate available Term Loan Commitments.

 

The making of such Extension of Credit hereunder
shall be deemed to be a representation and warranty by the Borrower on the date thereof as to the facts specified in clauses (b),
(c), and (d) of this Section.

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES

 

The Credit Parties represent
and warrant, as applicable, to the Administrative Agent and the Lenders that:

 

5.01       Financial Statements; No Material Adverse Effect.

 

(a)         The Audited Financial
Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein; (ii) fairly present the financial condition of the Consolidated Parties as of the date thereof and their
results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or
contingent, of the Consolidated Parties as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.

 

(b)         The unaudited consolidated
balance sheet of the Borrower and its Consolidated Subsidiaries dated September 30, 2013, and the related consolidated statements
of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared
in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein,
and (ii) fairly present the financial condition of the Consolidated Parties as of the date thereof and their results of operations
for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end
audit adjustments.

 

(c)         During the period
from December 31, 2012, to and including the Closing Date, there has been no sale, transfer or other disposition by any Consolidated
Party of any material part of the business or Property of the Consolidated Parties, taken as a whole, and no purchase or other
acquisition by any of them of any business or property (including any Capital Stock of any other Person) material in relation to
the consolidated financial condition of the Consolidated Parties, taken as a whole, in each case, which is not reflected in the
foregoing financial statements or in the notes thereto and has not otherwise been disclosed in writing to the Lenders on or prior
to the Closing Date.

 

(d)         The financial
statements delivered pursuant to Section 6.01(a) and (b) have been prepared in accordance with GAAP (except
as may otherwise be permitted under Section 6.01(a) and (b)) and present fairly (on the basis disclosed in the
footnotes to such financial statements) the consolidated financial condition, results of operations and cash flows of the Consolidated
Parties as of such date and for such periods.

 

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(e)         Since the date
of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has
had or could reasonably be expected to have a Material Adverse Effect.

 

5.02       Corporate Existence and Power.

 

Each of the Credit Parties
is a corporation, partnership or limited liability company duly organized or formed, validly existing and in good standing under
the laws of its jurisdiction of incorporation or organization, has all organizational powers and all material governmental licenses,
authorizations, consents and approvals required to carry on its business as now conducted and is duly qualified as a foreign entity
and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of
its business requires such qualification, other than in such jurisdictions where the failure to be so qualified and in good standing
would not, in the aggregate, have a Material Adverse Effect.

 

5.03       Corporate and Governmental Authorization; No Contravention.

 

The execution, delivery
and performance by each Credit Party of each Credit Document to which such Person is party, have been duly authorized by all necessary
corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization
Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, (i) any Contractual
Obligation to which such Person is a party or (ii) any order, injunction, writ or decree of any Governmental Authority or
any arbitral award to which such Person or its property is subject; or (c) violate any Law (including Regulation U or Regulation X
issued by the FRB).

 

5.04       Binding Effect.

 

This Credit Agreement
has been, and each other Credit Document, when delivered hereunder, will have been, duly executed and delivered by each Credit
Party that is a party thereto.  This Credit Agreement constitutes, and each other Credit Document when so delivered will
constitute, a legal, valid and binding obligation of such Credit Party, enforceable against each Credit Party that is a party thereto
in accordance with its terms except as enforceability may be limited by applicable Debtor Relief Laws and by general equitable
principles (whether enforcement is sought by proceedings in equity or at law).

 

5.05       Litigation.

 

There are no actions,
suits, proceedings, claims or disputes pending or, to the knowledge of the Responsible Officers of the Credit Parties, threatened
at law, in equity, in arbitration or before any Governmental Authority, by or against any Credit Party or against any of its properties
or revenues that (a) purport to affect or pertain to this Credit Agreement or any other Credit Document, or any of the transactions
contemplated hereby or (b) either individually or in the aggregate, can reasonably be expected to be determined adversely, and
if so determined to have a Material Adverse Effect.

 

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5.06       Compliance with ERISA.

 

(a)         Each Plan is in
compliance in all material respects with the applicable provisions of ERISA, the Internal Revenue Code and other Federal or state
Laws.  Each Plan that is intended to qualify under Section 401(a) of the Internal Revenue Code has received a favorable
determination letter from the IRS or an application for such a letter is currently being processed by the IRS with respect thereto
and, to the knowledge of the Responsible Officers of the Credit Parties, nothing has occurred which would prevent, or cause the
loss of, such qualification.  The Borrower and each ERISA Affiliate have made all required contributions to each Plan
subject to Section 412 of the Internal Revenue Code, and no application for a funding waiver or an extension of any amortization
period pursuant to Section 412 of the Internal Revenue Code has been made with respect to any Plan.

 

(b)         There are no pending
or, to the knowledge of the Responsible Officers of the Credit Parties, threatened claims (other than routine claims for benefits),
actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have
a Material Adverse Effect.  Neither the Borrower nor any ERISA Affiliate or, to the knowledge of the Responsible Officers
of the Credit Parties, any other Person has engaged in any prohibited transaction or violation of the fiduciary responsibility
rules under ERISA or the Internal Revenue Code with respect to any Plan that has resulted or could reasonably be expected to result
in a Material Adverse Effect.

 

(c)         (i)           No ERISA
Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) the Borrower
nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability under Title IV of ERISA with respect to
any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) the Borrower nor any ERISA
Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice
under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer
Plan; and (v) the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or
4212(c) of ERISA.

 

5.07       Environmental Matters.

 

Except as could not reasonably
be expected to have a Material Adverse Effect:

 

(a)          To
the knowledge of the Responsible Officers of the Borrower, each of the facilities and real properties owned, leased or operated
by any Credit Party or any Subsidiary (the “Facilities”) and all operations at the Facilities are in compliance
with all applicable Environmental Laws in all material respects and there is no violation, in any material respect, of any Environmental
Law with respect to the Facilities or the businesses operated by any Credit Party or any Subsidiary at such time (the “Businesses”),
and there are no conditions relating to the Facilities or the Businesses that are likely to give rise to liability under any applicable
Environmental Laws.

 

(b)         To
the knowledge of the Responsible Officers of the Borrower, none of the Facilities contains, or has previously contained, any Hazardous
Materials at, on or

 

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under the Facilities in amounts
or concentrations that constitute or constituted a violation of, or could give rise to liability under, applicable Environmental
Laws.

 

(c)          To
the knowledge of the Responsible Officers of the Borrower, no Credit Party nor any Subsidiary has received any written or verbal
notice of, or inquiry from any Governmental Authority regarding, any violation, alleged violation, non-compliance, liability or
potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Facilities
or the Businesses, nor does any Responsible Officer of the Borrower have knowledge or reason to believe that any such notice will
be received or is being threatened.

 

(d)         To
the knowledge of the Responsible Officers of the Borrower, Hazardous Materials have not been transported or disposed of from the
Facilities, or generated, treated, stored or disposed of at, on or under any of the Facilities, in each case by or on behalf of
any Credit Party or any Subsidiary in violation of, or in a manner that is likely to give rise to liability under, any applicable
Environmental Law.

 

(e)          To
the knowledge of the Responsible Officers of the Borrower, no judicial proceeding or governmental or administrative action is pending
or threatened, under any Environmental Law to which any Credit Party or any Subsidiary is or will be named as a party, nor are
there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial
requirements outstanding under any Environmental Law with respect to any Credit Party, any Subsidiary, the Facilities or the Businesses.

 

(f)          To
the knowledge of the Responsible Officers of the Borrower, there has been no release or threat of release of Hazardous Materials
at or from the Facilities, or arising from or related to the operations (including, without limitation, disposal) of any Credit
Party or any Subsidiary in connection with the Facilities or otherwise in connection with the Businesses, in violation of or in
amounts or in a manner that is likely to give rise to liability under any applicable Environmental Laws.

 

5.08       Margin Regulations;
Investment Company Act.

 

(a)          No Credit Party
is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin
stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock and no part of the proceeds of the Loans will be used, directly or indirectly, for the purpose of purchasing or carrying
any margin stock.

 

(b)         None of the Credit
Parties are (i) required to be registered as an “investment company” under the Investment Company Act of 1940 or (ii)
subject to regulation under any other Law which limits its ability to incur the Obligations.

 

5.09       Compliance with Laws.

 

Each of the Borrower and
each of its Subsidiaries is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions
and decrees applicable to it or

 

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to its properties, except in such instances
in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings
diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected
to have a Material Adverse Effect.

 

5.10       Ownership of Property; Liens.

 

Each of the Borrower
and each of its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all applicable
Real Property Assets, except for Permitted Liens and such defects in title as could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.  Set forth on the most recently delivered Unencumbered Property Certificate
required pursuant to Section 6.02, is a list of all Unencumbered Properties (Unencumbered Asset Value).  The
Property of the Borrower and its Subsidiaries is subject to no Liens, other than Permitted Liens.

 

5.11       Corporate Structure; Capital Stock, Etc.

 

Set forth on Schedule 5.11
is a complete and accurate list of each Credit Party and each Subsidiary of any Credit Party, together with (a) jurisdiction of
organization, (b) number of shares of each class of Capital Stock outstanding, (c) number and percentage of outstanding shares
of each class owned (directly or indirectly) by any Credit Party or any Subsidiary and (d) U.S. taxpayer identification number.  Subject
to Section 7.03, the Borrower has no equity Investments in any other Person other than those specifically disclosed on Schedule 5.11,
as such schedule may be updated from time to time pursuant to Section 6.02.  The outstanding Capital Stock
owned by any Credit Party are validly issued, fully paid and non-assessable and free of any Liens, warrants, options and rights
of others of any kind whatsoever.

 

5.12       Labor Matters.

 

There are no collective
bargaining agreements or Multiemployer Plans covering the employees of the Borrower as of the Closing Date and the Borrower (a) has
not suffered any strikes, walkouts, work stoppages or other material labor difficulty within the last five (5) years or (b) to
the knowledge of the Responsible Officers of the Borrower there has not been any potential or pending strike, walkout or work stoppage.  No
unfair labor practice complaint is pending against the Borrower.

 

5.13       No Default.

 

Neither the Borrower nor
any of its Subsidiaries is in default under or with respect to any Contractual Obligation that could, either individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

 

5.14       Solvency.

 

Immediately before and
immediately after giving effect to this Agreement, (a) the Borrower is Solvent and (b) the other Credit Parties are Solvent on
a consolidated basis.

 

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5.15       Taxes.

 

The Borrower and its
Subsidiaries have filed all Federal, state and other material tax returns and reports required to be filed, and have paid all Federal,
state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties,
income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently
conducted and for which adequate reserves have been established in accordance with GAAP.  To the knowledge of the Responsible
Officers of the Borrower, there is no proposed tax assessment against any Credit Party that would, if made, have a Material Adverse
Effect.

 

5.16       REIT Status.

 

The Borrower is taxed
as a “real estate investment trust” within the meaning of Section 856(a) of the Internal Revenue Code and each
of the Credit Parties (other than the Borrower) are Qualified REIT Subsidiaries.

 

5.17       Insurance.

 

The Real Property Assets
of the Borrower and its Subsidiaries are insured, to Borrower’s knowledge, with financially sound and reputable insurance
companies not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried
by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary
operates.

 

5.18       Intellectual Property; Licenses, Etc.

 

The Borrower and its Subsidiaries
own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises,
licenses and other intellectual property rights that are reasonably necessary for the operation of their respective businesses,
without conflict with the rights of any other Person, except, in each case, where the failure to do so could not reasonably be
expected to have a Material Adverse Effect.  To the knowledge of the Credit Parties, no slogan or other advertising device,
product, process, method, substance, part or other material now employed, or now contemplated to be employed, by the Borrower or
any Subsidiary infringes upon any rights held by any other Person except where such infringement could not reasonably be expected
to have a Material Adverse Effect.  No claim or litigation regarding any of the foregoing is pending or, to the knowledge
of the Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect.

 

5.19       Disclosure.

 

Each Credit Party has disclosed
to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any
of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be
expected to result in a Material Adverse Effect.  To each Credit Party’s knowledge, no report, financial statement,
certificate or other information furnished (whether in writing or orally) by or on behalf of any Credit Party to the Administrative
Agent or any Lender

 

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in connection with the transactions contemplated
hereby and the negotiation of this Agreement or delivered hereunder or under any other Credit Document (in each case, as modified
or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided,
that, with respect to projected financial information, each Credit Party represents only that, to each Credit Party’s knowledge,
such information was prepared in good faith based upon assumptions believed to be reasonable at the time, with the understanding
that certain of such information is prepared or provided by each Credit Party based upon information and assumptions provided to
such Credit Parties by Tenants of such Credit Parties.

 

ARTICLE VI

AFFIRMATIVE COVENANTS

 

The Borrower hereby covenants
and agrees (on its own behalf and on behalf of the other Credit Parties, as applicable) that until the Obligations, together with
interest, fees and other obligations hereunder, have been paid in full and the Commitments hereunder shall have terminated:

 

6.01       Financial Statements.

 

The Borrower shall deliver
to the Administrative Agent (and the Administrative Agent shall disseminate such information pursuant to the terms of Section 6.02
hereof), in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders:

 

(a)          as
soon as available, but in any event within ninety (90) days after the end of each fiscal year of the Borrower (or if earlier, the
date that is five (5) days after the reporting date for such information required by the SEC), a consolidated balance sheet of
the Consolidated Parties as at the end of such fiscal year, and the related consolidated statements of earnings, shareholders’
equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal
year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of a Registered
Public Accounting Firm of nationally recognized standing reasonably acceptable to the Required Lenders, which report and opinion
shall be prepared in accordance with generally accepted auditing standards and applicable Securities Laws and shall not be subject
to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such
audit; provided, that the Administrative Agent hereby agrees that a Form 10-K of the Borrower in form similar to that delivered
as part of the Audited Financial Statements shall satisfy the requirements of this Section 6.01(a); and

 

(b)         as
soon as available, but in any event within forty-five (45) days after the end of each of the first three (3) fiscal quarters of
each fiscal year of the Borrower (or if earlier, the date that is five (5) days after the reporting date for such information required
by the SEC), a consolidated balance sheet of the Consolidated Parties as at the end of such fiscal quarter, and the related consolidated
statements of earnings, shareholders’

 

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equity and cash flows for such fiscal
quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the
figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year,
all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting the financial condition, results
of operations, shareholders’ equity and cash flows of the Consolidated Parties in accordance with GAAP, subject only to normal
year-end audit adjustments and the absence of footnotes; provided, that the Administrative Agent hereby agrees that a Form
10-Q of the Borrower in form similar to that delivered to the SEC shall satisfy the requirements of this Section 6.01(b).

 

6.02        Certificates;
Other Information.

 

The Borrower shall deliver
to the Administrative Agent (and the Administrative Agent shall disseminate such information pursuant to the terms of this Section 6.02),
in form and detail reasonably satisfactory to the Administrative Agent and the Required Lenders:

 

(a)        concurrently
with the delivery of the financial statements referred to in Sections 6.01(a) and (b), (i) a duly completed
Compliance Certificate signed by a Responsible Officer of the Borrower; which shall include,
without limitation, calculation of the financial covenants set forth in Section 6.12 and an update of Schedule 5.11,
if applicable and (ii) a duly completed Unencumbered Property Certificate;

 

(b)        within
thirty (30) days after the end of each fiscal year of the Borrower, beginning with the fiscal year ending December 31, 2013,
an annual operating forecast of the Borrower containing, among other things, pro forma financial statements for the then current
fiscal year and updated versions of the pro forma financial projections delivered in connection with Section 4.01(d)
hereof;

 

(c)        promptly
after any request by the Administrative Agent, copies of any detailed audit reports, management letters or recommendations submitted
to the board of directors by the independent accountants of the Borrower (or the audit committee of the board of directors of the
Borrower) in respect of the Borrower (and, to the extent any such reports, letters or recommendations are prepared separately for
any one or more of the Credit Parties, such Credit Party) by independent accountants in connection with the accounts or books of
the Borrower (or such Credit Party) or any audit of the Borrower (or such Credit Party);

 

(d)        promptly
after the same are available, (i) copies of each annual report, proxy or financial statement or other report or communication sent
to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements
which the Borrower may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of
1934 or to a holder of any Indebtedness owed by the Borrower in its capacity as such holder and not otherwise required to be delivered
to the Administrative Agent pursuant hereto and (ii) upon the request of the Administrative Agent, all reports and written information
to and from the United States Environmental Protection Agency, or any state or local agency responsible

 

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for environmental matters, the United
States Occupational Health and Safety Administration, or any state or local agency responsible for health and safety matters, or
any successor agencies or authorities concerning environmental, health or safety matters;

 

(e)        promptly
upon receipt thereof, a copy of any other report or “management letter” submitted by independent accountants to the
Borrower in connection with any annual, interim or special audit of the books of the Borrower;

 

(f)        promptly
upon any Responsible Officer of the Borrower becoming aware thereof, notice of any matter that has resulted or could reasonably
be expected to result in a Material Adverse Effect and (iii) any other Default or Event of Default;

 

(g)        within
ten (10) days upon any Responsible Officer of the Borrower becoming aware thereof, reports detailing income or expenses of any
assets directly owned or operated, or which will be included on the balance sheet for purposes of FIN 46, other than as previously
disclosed in the Borrower’s Form 10-K, 10-Q or any other publicly available information;

 

(h)        promptly,
such additional information regarding the business, financial or corporate affairs of the Credit Parties, or compliance with the
terms of the Credit Documents, as the Administrative Agent or any Lender (through the Administrative Agent) may from time to time
reasonably request; and

 

(i)        promptly
upon any announcement by Moody’s, S&P or Fitch of any change or possible change in a Debt Rating.

 

Documents required to be delivered pursuant
to Section 6.01(a) or (b) or Section 6.02(b), (c), or (d) may be delivered electronically
and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides
a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or
(ii) on which such documents are posted by the Administrative Agent (on the Borrower’s behalf) on IntraLinks/IntraAgency
or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party
website or whether sponsored by the Administrative Agent); provided, that: (A) the Borrower shall deliver paper copies of
such documents to the Administrative Agent or any Lender (through the Administrative Agent) that requests the Borrower to deliver
such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender
(through the Administrative Agent) and (B) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative
Agent and each Lender (through the Administrative Agent) of the posting of any such documents (each Lender to which delivery of
such documents shall be made by posting to any such website shall have been given access to such website on or prior to the date
of such posting) and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.  The
Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above,
and in any event shall have no responsibility to monitor compliance by the Borrower or the other Credit Parties with any such request
for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

 

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The Borrower hereby acknowledges that (x) the
Administrative Agent will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder
(collectively, the “Borrower Materials”) by posting the Borrower Materials on SyndTrak or another similar electronic
system (the “Platform”) and (y) certain of the Lenders may be “public-side” Lenders (i.e.,
Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a “Public
Lender”).  The Borrower hereby further agrees that (ww) all Borrower Materials that are to be made available
to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word
“PUBLIC” shall appear prominently on the first page thereof (xx) by marking Borrower Materials “PUBLIC,”
the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat such Borrower Materials as either
publicly available information or not material information (although it may be sensitive and proprietary) with respect to the Borrower
or its securities for purposes of United States federal and state securities laws (provided, however, that to the
extent such Borrower Materials constitute Confidential Information, they shall be treated as set forth in Section 10.08);
(yy) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated
as “Public;” and (zz) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not marked as “Public.”

 

6.03        Preservation
of Existence and Franchises.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its legal existence,
rights, franchises and authority.  Each Credit Party shall remain qualified and in good standing in each jurisdiction
in which the failure to so qualify and be in good standing could have a Material Adverse Effect.

 

6.04        Books
and Records.

 

Each Credit Party shall,
as shall cause each of its Subsidiaries to, keep complete and accurate books and records of its transactions in accordance with
good accounting practices on the basis of GAAP.

 

6.05       Compliance
with Law.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries, to comply with all Laws, rules, regulations and orders, and all applicable restrictions
imposed by all Governmental Authorities, applicable to it and all of its real and personal property, except in such instances in
which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings
diligently conducted or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.

 

6.06        Payment
of Taxes and Other Indebtedness.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, pay and discharge (or cause to be paid or discharged) (a) all taxes (including, without
limitation, any corporate or franchise taxes), assessments and governmental charges or levies imposed upon it, or upon its income
or profits, or upon any of its properties, before they shall become delinquent, unless the

 

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same are being contested in good faith by appropriate
proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary,
(b) all lawful claims (including claims for labor, materials and supplies) which, if unpaid, might give rise to a Lien (other than
a Permitted Lien) upon any of its properties, and (c) except as prohibited hereunder, all of its other Indebtedness as it
shall become due.

 

6.07       Insurance.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, maintain (or caused to be maintained) with financially sound and reputable insurance
companies not Affiliates of the Borrower, insurance with respect to its properties and business against loss or damage of the kinds
customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily
carried under similar circumstances by such other Persons.  Each Credit Party shall, and shall cause each of its Subsidiaries
to, provide prompt notice to the Administrative Agent following such Credit Party’s receipt from the relevant insurer of
any notice of termination, lapse or cancellation of such insurance.

 

6.08       Maintenance
of Property.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, maintain, preserve and protect (or caused to be maintained, preserved and protected)
all of its Unencumbered Properties and all other material property and equipment necessary in the operation of its business in
good working order and condition, in each case, in a manner consistent with how such Person maintained its Unencumbered Properties
and other material property on the Closing Date, ordinary wear and tear excepted.

 

6.09       Performance
of Obligations.

 

The Credit Parties will
pay and discharge at or before maturity, or prior to expiration of applicable notice, grace and curative periods, all their respective
material obligations and liabilities, including, without limitation, tax liabilities, except where the same may be contested in
good faith by appropriate proceedings, and will maintain, in accordance with GAAP, appropriate reserves for the accrual of any
of the same.

 

6.10       Visits
and Inspections.

 

Subject to the rights
of Tenants, each Credit Party shall, and shall cause each of its Subsidiaries to, permit representatives or agents of any Lender
or the Administrative Agent, from time to time, and, if no Event of Default shall have occurred and be continuing, after reasonable
prior notice, but not more than twice annually and only during normal business hours to: (a) visit and inspect any of its Real
Property Assets to the extent any such right to visit or inspect is within the control of such Person; (b) inspect and make extracts
from their respective books and records, including but not limited to management letters prepared by independent accountants; and
(c) discuss with its principal officers, and its independent accountants, its business, properties, condition (financial or otherwise),
results of operations and performance.  If requested by the Administrative Agent, the Borrower or the Credit Parties,
as applicable, shall execute an authorization letter addressed to its accountants authorizing the Administrative Agent

 

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or any Lender to discuss the financial
affairs of the Borrower or any other Credit Party with its accountants.

 

6.11       Use
of Proceeds/Purpose of Loans.

 

The Borrower shall use
the proceeds of all Loans only to finance general corporate working capital (including repayment of existing Indebtedness, asset
acquisitions, and acquiring or improving, directly or indirectly, income producing Healthcare Facilities and Investments incidental
or related thereto), capital expenditures or other corporate purposes of the Borrower and the other Credit Parties (to the extent
not inconsistent with the Credit Parties’ covenants and obligations under this Credit Agreement and the other Credit Documents).

 

6.12       Financial
Covenants.

 

(a)        Consolidated
Leverage Ratio.    The Borrower shall cause the Consolidated Leverage Ratio, as of the end of any fiscal quarter, to
be equal to or less than 60%.

 

(b)        Consolidated
Secured Leverage Ratio.    The Borrower shall cause the Consolidated Secured Leverage Ratio, as of the end of any fiscal
quarter, to be equal to or less than 30%.

 

(c)        Consolidated
Unsecured Leverage Ratio.    The Borrower shall cause the Consolidated Unsecured Leverage Ratio, as of the end of any
fiscal quarter, to be equal to or less than 60%.

 

(d)        Consolidated
Fixed Charge Coverage Ratio.    The Borrower shall cause the Consolidated Fixed Charge Coverage Ratio, as of the end
of any fiscal quarter, to be equal to or greater than 1.75 to 1.00.

 

(e)        Consolidated
Tangible Net Worth.    The Borrower shall cause the Consolidated Tangible Net Worth as of the end of any fiscal quarter
to be equal to or greater than the sum of (i) $1,351,053,000 plus (ii) an amount equal to 85% of the net cash proceeds received
by the Consolidated Parties from Equity Transactions subsequent to June 30, 2013.

 

(f)         Consolidated
Unsecured Debt Yield.    The Borrower shall cause the Consolidated Unsecured Debt Yield, as of the end of any fiscal
quarter, to be equal to or greater than 12.5%.

 

(g)        Consolidated
Unsecured Interest Coverage Ratio.    The Borrower shall cause the Consolidated Unsecured Interest Coverage Ratio,
as of the end of any fiscal quarter, to be equal to or greater than 2.00 to 1.00.

 

(h)        Distribution
Limitation.    The Borrower shall cause the cash distributions to the Borrower’s shareholders made or declared
by the Borrower during the immediately prior four (4) fiscal quarter period ending on such date to be equal to or less than ninety-five
percent (95%) (or such greater amount as is required for the Borrower to maintain REIT status) of the aggregate cumulative Funds
From Operations accrued on a cumulative basis during such immediately prior four (4) fiscal quarter period.  Notwithstanding
anything to the contrary contained in this Section 6.12(h), the Borrower may (i) distribute to the Borrower’s
shareholders any and all cash

 

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proceeds received by the Borrower in connection
with any issuance or sale of shares of its Capital Stock and (ii) make unlimited distributions to the Borrower’s shareholders
payable solely in the form of common stock of the Borrower.

 

6.13       Environmental Matters;
Preparation of Environmental Reports.

 

The Borrower will, and
will cause each of its Subsidiaries to, comply in all material respects with all Environmental Laws in respect of its Real Property
Assets.

 

6.14       REIT Status.

 

The Borrower will, and
will cause each of its Subsidiaries to, operate its business at all times so as to satisfy all requirements necessary to qualify
and maintain the Borrower’s qualification as a real estate investment trust under Sections 856 through 860 of the Internal
Revenue Code.  The Borrower will maintain adequate records so as to comply in all material respects with all record-keeping
requirements relating to its qualification as a real estate investment trust as required by the Internal Revenue Code and applicable
regulations of the Department of the Treasury promulgated thereunder and will properly prepare and timely file with the IRS all
returns and reports required thereby.

 

6.15       Additional
Guarantors; Withdrawal or Addition of Unencumbered Properties; Release of Guarantors.

 

(a)        Upon
the acquisition, incorporation or other creation of any direct or indirect Subsidiary of the Borrower which owns an Unencumbered
Property and/or provides a guaranty of the obligations under the Existing Credit Facility, the Senior Notes or other unsecured
Funded Debt and to the extent such Subsidiaries have not been designated as Unrestricted Subsidiaries, the Borrower shall (i) cause
such Subsidiary to become a Subsidiary Guarantor hereunder through the execution and delivery to the Administrative Agent of a
Subsidiary Guarantor Joinder Agreement on or before the deadline for the delivery of the Compliance Certificate required pursuant
to Section 6.02(a) following the fiscal quarter in which the foregoing conditions for becoming a Subsidiary Guarantor
are met, and (ii) cause such Subsidiary to deliver such other documentation as the Administrative Agent may reasonably request
in connection with the foregoing, including, without limitation, certified resolutions and other organizational and authorizing
documents of such Subsidiary, favorable opinions of counsel to such Subsidiary (which shall cover, among other things, the legality,
validity, binding effect and enforceability of the documentation referred to above), all in form, content and scope reasonably
satisfactory to the Administrative Agent.

 

(b)        The
Borrower may add and withdraw Real Property Assets from the pool of Unencumbered Properties without the consent of the Administrative
Agent; provided, that (i) in the case of addition of a Real Property Asset owned or leased by a Consolidated Party that
is not a Credit Party, the owner of the Real Property Asset shall have complied with the requirements of clause (a)(i) of this
Section 6.15 and (ii) in the case of withdrawal of a Real Property Asset, the Borrower shall have given notice thereof to
the Administrative Agent, together with a written request to release the owner of the subject Real Property Asset from the Guaranty,
where appropriate, in accordance with the provisions hereof.  In the case of withdrawal of a subject

 

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Property from the pool of Unencumbered Properties
entitling the owner of the subject Real Property Asset to a release from the Guaranty hereunder, the Administrative Agent shall
acknowledge (in writing delivered to the Borrower upon written request of the Borrower) withdrawal of the subject Real Property
Asset and release of Guaranty of the owner in respect thereof (excepting a situation where an Event of Default shall then exist
and be continuing, or where withdrawal of the subject Real Property Asset would cause the pool of Unencumbered Properties to be
insufficient to support the outstanding Obligations, which in either such case, the owner of the subject Real Property Asset shall
not be released from its Guaranty hereunder until such time as the foregoing conditions no longer exist).  Notwithstanding
anything to the contrary in this Agreement, if the removal of any Unencumbered Properties would have the effect of curing all existing
Events of Default, Borrower shall be permitted to withdraw such Real Property Assets, and any Event of Default with respect thereto
shall be deemed cured as of the date of such withdrawal.

 

(c)        Notwithstanding
the requirements set forth in clauses (a) or (b) of this Section 6.15, to the extent that (i) the Borrower has received
two (2) Investment Grade Ratings and (ii) the Borrower provides a written request to the Administrative Agent that the Guarantors
be released from their respective Guaranties pursuant to the Credit Documents in conjunction with the simultaneous or substantially
simultaneous issuance (or modification) by such Subsidiary Guarantors of any pari passu senior unsecured notes (including, without
limitation, the Senior Notes) that do not require, or no longer require, a guaranty from the Subsidiary Guarantors of such notes,
then, following the Administrative Agent’s receipt of such notice (and so long as no Default or Event of Default shall
have occurred and be continuing on the date of the Administrative Agent’s receipt of such notice), the Subsidiary Guarantors
shall be automatically released from their respective Guaranties pursuant to the Credit Documents (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 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.

 

6.16       Anti-Terrorism Laws.

 

None of the Credit Parties
nor any of their respective Affiliates (i) will conduct any business or will engage in any transaction or dealing with any Prohibited
Person, including making or receiving any contribution of funds, goods or services to or for the benefit of any Prohibited Person,
(ii) will deal in, or will engage in any transaction relating to, any property or interests in property blocked pursuant to the
Executive Order; or (iii) will engage in or will conspire to engage in any transaction that evades or avoids, or has the purpose
of evading or avoiding, or attempts to violate, any of the prohibitions set forth in the Executive Order or the Patriot Act.  The
Borrower covenants and agrees to execute and/or deliver to Administrative Agent any certification or other evidence requested from
time to time by Administrative Agent in its sole discretion, confirming such Borrower’s compliance with this Section including,
without

 

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limitation, any documentation which is necessary
for ongoing compliance with any anti-money laundering Laws applicable to any Lender.

 

6.17       Compliance With Material
Contracts.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, perform and observe all the material terms and provisions of each Material Contract
to be performed or observed by it, maintain each such Material Contract in full force and effect, enforce each such Material Contract
in accordance with its terms, take all such action to such end as may be from time to time reasonably requested by the Administrative
Agent and, upon the reasonable request of the Administrative Agent, make to each other party to each such Material Contract such
demands and requests for information and reports or for action as any Credit Party is entitled to make under such Material Contract.

 

6.18       Designation as Senior
Debt.

 

Each Credit Party shall,
and shall cause each of its Subsidiaries to, ensure that all Obligations are designated as “Senior Indebtedness” and
are at least pari passu with all unsecured debt of such Credit Party and each Subsidiary.

 

6.19       Post Closing.

 

With respect to the Subsidiaries
of the Borrower set forth on Schedule 6.19, the Credit Parties shall cause each such Subsidiary to provide a guaranty of
the Obligations hereunder as required by and pursuant to the terms of Section 6.15(a) hereof, upon the earlier of (a) February 28,
2014 and (b) the date on which any such Subsidiary of the Borrower provides a guaranty of the obligations under the Existing Credit
Facility, the Senior Notes or other unsecured Funded Debt.

 

ARTICLE VII

NEGATIVE COVENANTS

 

The Borrower hereby covenants
and agrees (on its own behalf and on behalf of the other Credit Parties, as applicable) that until the Obligations, together with
interest, fees and other obligations hereunder, have been paid in full and the Commitments hereunder shall have terminated:

 

7.01       Liens.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, at any time, create, incur, assume or suffer to exist any Lien upon any of its assets
or revenues, whether now owned or hereafter acquired, other than the following:

 

(a)       Liens
pursuant to any Credit Document;

 

(b)       Liens
(other than Liens imposed under ERISA) for taxes, assessments or governmental charges or levies (including pledges or deposits
in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other

 

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social security legislation) not
yet due and payable or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate
reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

 

(c)       statutory
Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen and suppliers and other Liens imposed by law or
pursuant to customary reservations or retentions of title arising in the ordinary course of business; provided, that such Liens
secure only amounts not overdue for more than thirty (30) days or are being contested in good faith by appropriate proceedings
for which adequate reserves determined in accordance with GAAP have been established;

 

(d)       deposits
to secure the performance of bids, trade contracts and leases (other than Indebtedness not otherwise permitted pursuant to Section 7.02),
statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary
course of business;

 

(e)       zoning
restrictions, easements, rights-of-way, restrictions, restrictive covenants, encroachments, protrusions, sets of facts that an
accurate and up to date survey would show and other similar encumbrances affecting real property which, in the aggregate, are not
substantial in amount, and which do not in any case materially detract from the value of the property subject thereto or materially
interfere with the ordinary conduct of the business of the applicable Person;

 

(f)        Liens
securing judgments for the payment of money (or appeal or other surety bonds relating to such judgments) not constituting an Event
of Default under Section 8.01(h);

 

(g)       leases
or subleases (and the rights of the tenants thereunder) granted to others not interfering in any material respect with the business
of any Credit Party or any Subsidiary;

 

(h)       any
interest of title of a lessor under, and Liens arising from UCC financing statements (or equivalent filings, registrations or agreements
in foreign jurisdictions) relating to, leases permitted by this Agreement;

 

(i)        Liens
in existence as of the Closing Date as set forth on Schedule 7.01 and any renewals or extensions thereof; provided,
that the property covered thereby is not materially changes;

 

(j)        Liens
pursuant to the Braswell Indebtedness;

 

(k)       Liens
that may be granted to the holders of the obligations under the Existing Credit Facility; provided, that the applicable
Credit Parties grant Liens on such assets on an equal and ratable basis to the Administrative Agent for the benefit of the holders
of the Obligations; and

 

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(l)       other
Liens incurred in connection with Consolidated Funded Debt as long as, after giving effect thereto, the Credit Parties are in compliance
with the financial covenants in Section 6.12, on a pro forma basis as if such Lien had been incurred as of the last
day of the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.01 (or
if such Lien exists as of the Closing Date, as of September 30, 2013); provided, that the Credit Parties may not grant a
mortgage, deed of trust, lien, pledge, encumbrance or other security interest, in each case, to secure Funded Debt with respect
to any Unencumbered Property or the Capital Stock in any Subsidiary except in favor of the Lenders.

 

7.02       Indebtedness.

 

No Credit Party
shall, nor shall they permit any Subsidiary to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness,
except:

 

(a)       Indebtedness
under the Credit Documents;

 

(b)       Indebtedness
in connection with intercompany Investments permitted under Section 7.03;

 

(c)       obligations
(contingent or otherwise) existing or arising under any Swap Contract; provided, that (i) such obligations are (or were)
entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities,
commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of securities
issued by such Person, and not for purposes of speculation or taking a “market view”; and (ii) such Swap Contract does
not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions
to the defaulting party;

 

(d)       without
duplication, Guaranties by a Credit Party or any Subsidiary in respect of any Indebtedness otherwise permitted hereunder;

 

(e)       Indebtedness
set forth in Schedule 7.02 (and renewals, refinancing and extensions thereof); provided, that the amount of
such Indebtedness is not increased at the time of such refinancing, renewal or extension except by an amount equal to a reasonable
premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by
an amount equal to any existing commitments utilized thereunder (for purposes of clarity, it is understood that Funded Debt on
Schedule 7.02 is included in calculating the financial covenants in Section 6.12); and

 

(f)       other
Funded Debt (including any portion of any renewal, financing, or extension of Indebtedness set forth in Schedule 7.02
to the extent such portion does not meet the criteria set for the in the proviso of clause (e) above) as long as, after giving
effect thereto, the Credit Parties are in compliance with the financial covenants in Section 6.12, on a pro forma basis
as if such Indebtedness had been incurred as of the last day of the most recent fiscal quarter for which financial statements have
been delivered

 

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pursuant to Section 6.01
(or if such Indebtedness exists as of the Closing Date, as of September 30, 2013).

 

7.03        Investments.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly, make any Investments, except:

 

(a)       Investments
held in the form of cash or Cash Equivalents;

 

(b)       Investments
in any Person that is a Credit Party prior to giving effect to such Investment;

 

(c)       Investments
by any Subsidiary that is not a Credit Party in any other Subsidiary that is not a Credit Party;

 

(d)       Investments
consisting of (i) extensions of credit in the nature of the performance of bids, (ii) accounts receivable or notes receivable arising
from the grant of trade contracts and leases (other than credit) in the ordinary course of business, and (iii) Investments
received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent reasonably necessary
in order to prevent or limit loss;

 

(e)       Guaranties
permitted by Section 7.02;

 

(f)       Investments
existing as of the Closing Date and set forth in Schedule 7.03; and

 

(g)       Investments
in or related to Healthcare Facilities and Investments as described in Section 6.11 (including, without limitation, Investments
of the type set forth in subclauses (i)-(iv) of this clause (g)); provided, however, that after giving effect to
any such Investments, (i) the aggregate amount of Investments consisting of unimproved land holdings shall not, at any time, exceed
5% of Consolidated Total Asset Value, (ii) the aggregate amount of Investments consisting of Mortgage Loans, notes receivables
and mezzanine loans shall not, at any time, exceed 20% of Consolidated Total Asset Value, (iii) the aggregate amount of Investments
consisting of construction in progress shall not, at any time, exceed 15% of Consolidated Total Asset Value and (iv) the aggregate
amount of Investments in Unconsolidated Affiliates shall not, at any time, exceed 20% of Consolidated Total Asset Value; provided,
further, that the aggregate amount of all Investments made pursuant to clauses (i), (ii), (iii) and (iv) above shall not, at any
time, exceed 30% of Consolidated Total Asset Value.

 

7.04       Fundamental Changes.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly, merge, dissolve, liquidate, consolidate with or into another Person;
provided, that, notwithstanding the foregoing provisions of this Section 7.04, (a) the Borrower may merge or
consolidate with any of its Subsidiaries provided that the Borrower is the continuing or surviving

 

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Person, (b) any Consolidated Party (including
any Unrestricted Subsidiary) may merge or consolidate with any other Consolidated Party; provided, that if a Credit Party
is a party to such transaction, such Credit Party shall be the continuing or surviving Person, (c) any Subsidiary Guarantor may
be merged or consolidated with or into any other Subsidiary Guarantor and (d) any Subsidiary Guarantor that is not a Credit Party
may dissolve, liquidate or wind up its affairs at any time; provided, that such dissolution, liquidation or winding up,
as applicable, could not reasonably be expected to have a Material Adverse Effect.

 

7.05       Dispositions.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly, make any Disposition or enter into any agreement to make any Disposition,
except:

 

(a)       Dispositions
of obsolete or worn out Property, whether now owned or hereafter acquired, in the ordinary course of business;

 

(b)       Dispositions
of inventory in the ordinary course of business;

 

(c)       Dispositions
of equipment or Property to the extent that (i) such Property is exchanged for credit against the purchase price of similar replacement
property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement
Property; provided, that if the Property disposed of is an Unencumbered Property it is removed from the calculation of Unencumbered
Asset Value.

 

(d)       Dispositions
of Property by any Subsidiary to a Credit Party or to a Wholly Owned Subsidiary; provided, that if the transferor of such
property is a Credit Party, the transferee thereof must be a Credit Party;

 

(e)       Dispositions
permitted by Section 7.04;

 

(f)       Dispositions
by the Borrower and its Subsidiaries not otherwise permitted under this Section 7.05; provided, that (i) at
the time of such Disposition, no Default or Event of Default exists and is continuing (that would not be cured by such Disposition)
or would result from such Disposition and (ii) after giving effect thereto, the Credit Parties are in compliance with the financial
covenants in Section 6.12, on a pro forma basis as if such Disposition had been incurred as of the last day of the
most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.01; and

 

(g)       real
estate leases entered into in the ordinary course of business.

 

Notwithstanding anything
above, any Disposition pursuant to clauses (a) through (f) shall be for fair market value.

 

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7.06       Change
in Nature of Business.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, engage in any material line of business substantially different from those lines of business
conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto.

 

7.07       Transactions with Affiliates
and Insiders.

 

No Credit Party shall, nor
shall they permit any Subsidiary to, directly or indirectly, enter into any transaction of any kind with any officer, director
or Affiliate of the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially
as favorable to such Credit Party or Subsidiary as would be obtainable by such Credit Party or Subsidiary at the time in a comparable
arm’s length transaction with a Person other than a director, officer or Affiliate; provided, that the foregoing restriction
shall not apply to transactions between or among the Credit Parties.

 

7.08       Organization
Documents; Fiscal Year; Legal Name, State of Formation and Form of Entity.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly:

 

(a)       Amend,
modify or change its Organization Documents in a manner materially adverse to the Lenders.

 

(b)       Make
any material change in (i) accounting policies or reporting practices, except as required by GAAP, FASB, the SEC or any other
regulatory body, or (ii) its fiscal year.

 

(c)       Without
providing ten (10) days prior written notice to the Administrative Agent, change its name, state of formation or form of organization.

 

7.09       Negative Pledges.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly, enter into, assume or otherwise be bound, by any Negative Pledge
other than (i) any Negative Pledge contained in an agreement entered into in connection with any Indebtedness that is permitted
pursuant to Section 7.02; (ii) any Negative Pledge required by law; (iii) Negative Pledges contained in (x) the agreements
set forth on Schedule 7.09; (y) any agreement relating to the sale of any Subsidiary or any assets pending such sale; provided,
that in any such case, the Negative Pledge applies only to the Subsidiary or the assets that are the subject of such sale; or (z)
any agreement in effect at the time any Person becomes a Subsidiary so long as such agreement was not entered into in contemplation
of such Person becoming a Subsidiary and such restriction only applies to such Person and/or its assets, and (iv) customary provisions
in leases, licenses and other contracts restricting the assignment thereof, in each case as such agreements, leases or other contracts
may be amended from time to time and including any renewal, extension, refinancing or replacement thereof; provided, that,
with respect to any amendment, renewal, extension, refinancing or replacement of an agreement described in clause (iii), such amendment,
renewal, extension, refinancing or replacement does not contain restrictions of the type

 

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prohibited by this Section 7.09 that
are, in the aggregate, more onerous in any material respect on the Borrower or any Subsidiary than the restrictions, in the aggregate,
in the original agreement.

 

7.10       Use of Proceeds.

 

No Credit Party shall,
nor shall they permit any Subsidiary to, directly or indirectly, use the proceeds of any Extension of Credit, whether directly
or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation
U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally
incurred for such purpose.

 

7.11       Prepayments of Indebtedness.

 

If a Default or Event of
Default exists and is continuing or would be caused thereby, no Credit Party shall, nor shall they permit any Subsidiary to, directly
or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or
make any payment in violation of any subordination terms of, any Indebtedness, except the prepayment of Extensions of Credit in
accordance with the terms of this Agreement.

 

7.12       Stock Repurchases.

 

If a Default or Event of
Default exists and is continuing or would be caused thereby, the Borrower shall not make any payment (whether in cash, securities
or other Property), including any sinking fund or similar deposit, for the purchase, redemption, retirement, defeasance, acquisition,
cancellation or termination of any of its Capital Stock or any option, warrant or other right to acquire any such Capital Stock
other than the repurchase of warrants or stock in an aggregate amount not to exceed $100,000,000 during the term of this Agreement.

 

7.13       Sanctions.

 

Permit any
Loan or the proceeds of any Loan, directly or indirectly, (a) to be lent, contributed or otherwise made available to fund any activity
or business in any Designated Jurisdiction; (b) to fund any activity or business of any Person located, organized or residing in
any Designated Jurisdiction or who is the subject of any Sanctions; or (c) in any other manner that will result in any violation
by any Person (including any Lender, Arranger, or Administrative Agent) of any Sanctions.

 

ARTICLE VIII

EVENTS OF DEFAULT AND REMEDIES

 

8.01       Events of Default.

 

The occurrence and continuation
of any of the following shall constitute an Event of Default:

 

(a)       Non-Payment.    Any
Credit Party fails to pay when and as required to be paid herein, (i) any amount of principal of any Loan, (ii) within five (5)
days after the

 

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same becomes due, any interest on
any Loan or any Facility Fee, as applicable or (iii) within ten (10) days after the earlier of (A) a Responsible Officer of the
Borrower or any Credit Party becoming aware that the same has become due or (B) written notice from the Administrative Agent to
the Borrower, any other fee payable herein or any other amount payable herein or under any other Credit Document becomes due; or

 

(b)       Specific
Covenants.    Any Credit Party fails to perform or observe any term, covenant or agreement contained in (i) any of
Sections 6.01 6.02 or 6.10 within ten (10) days after the same becomes due or required or (ii) any of Sections 6.03,
6.06, 6.11, 6.12, 6.14 or 6.15 or Article VII; or

 

(c)       Other
Defaults.    Any Credit Party fails to perform or observe any other covenant or agreement (not specified in subsection (a)
or (b) above) contained in any Credit Document on its part to be performed or observed and such failure continues for thirty (30)
days after the earlier of (i) a Responsible Officer of the Borrower or any Credit Party becoming aware of such Default or (ii)
written notice thereof by the Administrative Agent to the Borrower (or, if such failure cannot be reasonably cured within such
period, sixty (60) days, so long as the applicable Credit Party has diligently commenced such cure and is diligently pursuing completion
thereof); or

 

(d)       Representations
and Warranties.    Any representation, warranty, certification or statement of fact made or deemed made by or on behalf
of any Credit Party and contained in this Credit Agreement, in any other Credit Document, or in any document delivered in connection
herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or

 

(e)       Cross-Default.    (i)
there occurs any event of default under any of the Senior Note Indentures; (ii) any Credit Party or any Subsidiary (A) fails to
perform or observe (beyond the applicable grace or cure period with respect thereto, if any) any Contractual Obligation if such
failure could reasonably be expected to have a Material Adverse Effect, (B) fails to make any payment when due (whether by scheduled
maturity, required prepayment, acceleration, demand, or otherwise and beyond the applicable grace or cure period with respect thereto,
if any) in respect of any Indebtedness (other than Indebtedness hereunder and Indebtedness under Swap Contracts) or otherwise fails
to observe or perform any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event occurs, the effect of which event of default is to cause, or to permit
the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, with the giving
of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically
or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity,
or cash collateral in respect thereof to be demanded, in each case to the extent such Indebtedness or other obligation is in an
amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated
credit arrangement) of more than the Threshold Amount; (iii) there occurs under any Swap Contract an Early Termination Date (as
defined in such Swap Contract)

 

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resulting from (A) any event of
default under such Swap Contract as to which Borrower is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination
Event (as so defined) under such Swap Contract as to which Borrower is an Affected Party (as so defined) and, in either event,
the Swap Termination Value owed by such Borrower as a result thereof is greater than the Threshold Amount; or

 

(f)        Insolvency
Proceedings, Etc.    Any Credit Party or any of its Subsidiaries institutes or consents to the institution of any proceeding
under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment
of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material
part of its properties; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed
and the appointment continues undischarged or unstayed for ninety (90) calendar days; or any proceeding under any Debtor Relief
Law relating to such Person or to all or any material part of its property is instituted without the consent of such Person and
continues undismissed or unstayed for ninety (90) calendar days, or an order for relief is entered in any such proceeding; or

 

(g)       Inability
to Pay Debts; Attachment.    (i) Any Credit Party or any Subsidiary becomes unable or admits in writing its inability
or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process
in an amount in excess of the Threshold Amount is issued or levied against all or any material part of the properties of any such
Person and is not released, vacated or fully bonded within sixty (60) days after its issue or levy; or

 

(h)       Judgments.    There
is entered against a Credit Party or any Subsidiary (i) any one or more final judgments or orders for the payment of money
in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which
the insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings
are commenced by any creditor upon such judgment or order, or (B) there is a period of ten (10) consecutive days during which a
stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or

 

(i)        ERISA.    (i)
An ERISA Event occurs with respect to a Plan which has resulted in liability of any Credit Party or any Subsidiary under Title IV
of ERISA to the Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) any Credit Party or any ERISA
Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its
withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold
Amount; or

 

(j)        Invalidity
of Credit Documents; Guaranty.    (i) Any Credit Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or as a result of satisfaction in full of all the Obligations, ceases to

 

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be in full force and effect; or
any Credit Party contests in any manner the validity or enforceability of any Credit Document; or any Credit Party denies that
it has any or further liability or obligation under any Credit Document, or purports to revoke, terminate or rescind any Credit
Document; or (ii) except as the result of or in connection with a dissolution, merger or disposition of a Subsidiary Guarantor
not prohibited by the terms of this Credit Agreement, the Guaranty shall cease to be in full force and effect, or any Guarantor
hereunder shall deny or disaffirm such Guarantor’s obligations under such Guaranty, or any Guarantor shall default in the
due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to the Guaranty;
or

 

(k)       Change
of Control.    There occurs any Change of Control.

 

8.02       Remedies Upon Event of
Default.

 

If any Event of Default
occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders,
upon written notice to the Borrower in any instance, take any or all of the following actions:

 

(a)       declare
the commitment of each Lender to make Loans to be terminated, whereupon such commitments and obligation shall be terminated;

 

(b)       declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable
hereunder or under any other Credit Document to be immediately due and payable, without presentment, demand, protest or additional
notice of any kind, all of which are hereby expressly waived by the Borrower; and

 

(c)       exercise
on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Credit Documents or applicable
law;

 

provided, however, that upon
the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the
United States, the obligation of each Lender to make Loans shall automatically terminate, and the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, in each case without
further act of the Administrative Agent or any Lender.

 

8.03       Application of Funds.

 

After the exercise of
remedies in accordance with the provisions of Section 8.02 (or after the Loans have automatically become immediately
due and payable), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following
order:

 

First, to payment
of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including Attorney Costs and amounts
payable under Article III) payable to the Administrative Agent in its capacity as such;

 

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Second, to payment
of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable
to the Lenders (including Attorney Costs and amounts payable under Article III), ratably among the Lenders in proportion
to the amounts described in this clause Second payable to them;

 

Third, to payment
of that portion of the Obligations constituting accrued and unpaid interest on the Loans, ratably among the Lenders in proportion
to the respective amounts described in this clause Third payable to them;

 

Fourth, to payment
of that portion of the Obligations constituting unpaid principal of the Loans, ratably among the Lenders in proportion to the respective
amounts described in this clause Fourth held by them;

 

Fifth, to payment
of that portion of the Obligations constituting obligations under Swap Contracts between any Credit Party and any Lender or Affiliate
of any Lender (including, without limitation, payment of breakage, termination or other amounts owing in respect of any Swap Contract
between any Credit Party and any Lender, or any Affiliate of a Lender, to the extent such Swap Contract is permitted hereunder);
and

 

Last, the balance,
if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law.

 

Excluded Swap Obligations with respect to any
Guarantor shall not be paid with amounts received from such Guarantor or such Guarantor’s assets, but appropriate adjustments
shall be made with respect to payments from other Credit Parties to preserve the allocation to Obligations otherwise set forth
above in this Section.

 

ARTICLE IX

ADMINISTRATIVE AGENT

 

9.01       Appointment and Authorization
of Administrative Agent.

 

Each Lender hereby irrevocably
appoints, designates and authorizes the Administrative Agent to take such action on its behalf under the provisions of this Credit
Agreement and each other Credit Document and to exercise such powers and perform such duties as are expressly delegated to it by
the terms of this Credit Agreement or any other Credit Document, together with such powers as are reasonably incidental thereto.  Notwithstanding
any provision to the contrary contained elsewhere herein or in any other Credit Document, the Administrative Agent shall not have
any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to
have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities, duties,
obligations or liabilities shall be read into this Credit Agreement or any other Credit Document or otherwise exist against the
Administrative Agent.  Without limiting the generality of the foregoing sentence, the use of the term “agent”
herein and in the other Credit Documents with reference to the Administrative Agent is not intended to connote any fiduciary or
other implied (or express) obligations arising under agency doctrine of any applicable Law.  Instead, such term is used
merely as a matter of

 

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market custom, and is intended to create or
reflect only an administrative relationship between independent contracting parties.

  

9.02       Delegation of Duties.

 

The Administrative Agent
may perform any and all of its duties and exercise its rights and powers hereunder or under any other Credit Document by or through
any one or more sub-agents appointed by the Administrative Agent.  The Administrative Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties.  The
exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent
and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities
provided for herein as well as activities as Administrative Agent.  The Administrative Agent shall not be responsible
for the negligence or misconduct of any sub-agents that it selects in the absence of gross negligence or willful misconduct.

 

9.03       Liability of Administrative
Agent.

 

No Agent-Related Person
shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Credit Agreement
or any other Credit Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct
in connection with its duties expressly set forth herein), or (b) be responsible in any manner to any Lender or participant for
any recital, statement, representation or warranty made by any Credit Party or any officer thereof, contained herein or in any
other Credit Document, or in any certificate, report, statement or other document referred to or provided for in, or received by
the Administrative Agent under or in connection with, this Credit Agreement or any other Credit Document, or the validity, effectiveness,
genuineness, enforceability or sufficiency of this Credit Agreement or any other Credit Document, or for any failure of any Credit
Party or any other party to any Credit Document to perform its obligations hereunder or thereunder.  No Agent-Related
Person shall be under any obligation to any Lender or participant to ascertain or to inquire as to the observance or performance
of any of the agreements contained in, or conditions of, this Credit Agreement or any other Credit Document, or to inspect the
properties, books or records of any Credit Party or any Affiliate thereof.

 

9.04       Reliance by Administrative
Agent.

 

(a)       The
Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature,
resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic
mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent
or made by the proper Person or Persons, and upon advice and statements of legal counsel (including counsel to any Credit Party),
independent accountants and other experts selected by the Administrative Agent.  The Administrative Agent shall be fully
justified in failing or refusing to take any action under any Credit Document unless it shall first receive such advice or concurrence
of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the
Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such
action.  

 

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The Administrative Agent shall in all cases
be fully protected in acting, or in refraining from acting, under this Credit Agreement or any other Credit Document in accordance
with a request or consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any
instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

 

(b)       For
purposes of determining compliance with the conditions specified in Section 4.01, each Lender that has signed this
Credit Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent
shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

 

9.05       Notice of Default.

 

The Administrative Agent
shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default, except with respect to defaults
in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders,
unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Credit Agreement,
describing such Default or Event of Default and stating that such notice is a “notice of default.” The Administrative
Agent will notify the Lenders of its receipt of any such notice.  The Administrative Agent shall take such action with
respect to such Default or Event of Default as may be directed by the requisite Lenders in accordance herewith; provided,
however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but
shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default
as it shall deem advisable or in the best interest of the Lenders.

 

9.06       Credit Decision; Disclosure
of Confidential Information by Administrative Agent.

 

Each Lender
acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by the
Administrative Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of
any Credit Party or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related
Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their
possession (in each case, except to the extent the Administrative Agent has confirmed to any Lender in writing the
satisfaction of conditions to funding as of the Closing Date).  Each Lender represents to the Administrative Agent
that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as
it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property,
financial and other condition and creditworthiness of the Credit Parties and their respective Subsidiaries, and all
applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter
into this Credit Agreement and to extend credit to the Borrower and the other Credit Parties
hereunder.  Each Lender also represents that it will, independently and without reliance upon any Agent-Related
Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
analysis, appraisals and decisions in taking or not

 

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taking action under this Credit
Agreement and the other Credit Documents, and to make such investigations as it deems necessary to inform itself as to the business,
prospects, operations, property, financial and other condition and creditworthiness of the Borrower and the other Credit Parties.  Except
for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent herein,
the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning
the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Credit Parties or
any of their respective Affiliates that may come into the possession of any Agent-Related Person.

 

9.07       Indemnification of Administrative
Agent.

 

Whether or not the transactions
contemplated hereby are consummated, the Lenders shall indemnify upon demand each Agent-Related Person (to the extent not reimbursed
by or on behalf of any Credit Party and without limiting the obligation of any Credit Party to do so), pro rata, and hold harmless
each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it; provided, however,
that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities to the
extent determined in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Agent-Related
Person’s own gross negligence or willful misconduct; provided, however, that no action taken in accordance
with the directions of the Required Lenders shall be deemed to constitute gross negligence or willful misconduct for purposes of
this Section.  Without limitation of the foregoing, each Lender shall reimburse the Administrative Agent upon demand
for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in
connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations,
legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Credit Agreement, any
other Credit Document, or any document contemplated by or referred to herein, to the extent that the Administrative Agent is not
reimbursed for such expenses by or on behalf of the Borrower.  The undertaking in this Section shall survive termination
of the Commitments, the payment of all other Obligations and the resignation of the Administrative Agent.

 

9.08       Administrative Agent in
its Individual Capacity.

 

Bank of America and its
Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and
generally engage in any kind of banking, trust, financial advisory, underwriting or other business with each of the Credit Parties
and their respective Affiliates as though Bank of America were not the Administrative Agent hereunder and without notice to or
consent of the Lenders.  The Lenders acknowledge that, pursuant to such activities, Bank of America or its Affiliates
may receive information regarding any Credit Party or its Affiliates (including information that may be subject to confidentiality
obligations in favor of such Credit Party or such Affiliate) and acknowledge that the Administrative Agent shall be under no obligation
to provide such information to them.  With respect to its Loans, Bank of America shall have the same rights and powers
under this Credit Agreement as any other Lender and may exercise such rights and powers as though it were not

 

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the Administrative Agent, and the terms “Lender”
and “Lenders” include Bank of America in its individual capacity.

 

9.09       Successor Administrative
Agent.

 

The Administrative Agent
may resign as Administrative Agent upon thirty (30) days’ notice to the Lenders.  If the Administrative Agent
resigns under this Credit Agreement, the Required Lenders shall appoint from among the Lenders a successor administrative agent
for the Lenders, which successor administrative agent shall be consented to by the Borrower at all times other than during the
existence of an Event of Default (which consent of the Borrower shall not be unreasonably withheld or delayed).  If no
successor administrative agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative
Agent may appoint, after consulting with the Lenders and the Borrower, a successor administrative agent from among the Lenders.  Upon
the acceptance of its appointment as successor administrative agent hereunder, the Person acting as such successor administrative
agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent and the term “Administrative
Agent,” thereafter shall mean such successor administrative agent, and the retiring Administrative Agent’s appointment,
powers and duties as Administrative Agent shall be terminated.  After any retiring Administrative Agent’s resignation
hereunder as Administrative Agent, the provisions of this Article IX and Sections 10.04 and 10.05
shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Credit
Agreement.  If no successor administrative agent has accepted appointment as Administrative Agent by the date thirty (30)
days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation
shall nevertheless thereupon become effective and the Lenders shall perform all of the duties of the Administrative Agent hereunder
until such time, if any, as the Required Lenders appoint a successor agent as provided for above.

 

9.10       Administrative Agent May
File Proofs of Claim.

 

In case of the pendency
of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to any Credit Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then
be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall
have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

(a)       to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
Obligations (other than obligations under Swap Contracts to which the Administrative Agent is not a party) that are owing and unpaid
and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative
Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative
Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 2.07
and 10.04) allowed in such judicial proceeding; and

 

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(b)       to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make
such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments
directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements
and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.07
and 10.04.

 

Nothing contained herein shall be deemed to
authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization,
arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative
Agent to vote in respect of the claim of any Lender in any such proceeding.

 

9.11       Guaranty Matters.

 

The Lenders irrevocably
authorize the Administrative Agent, at its option and in its discretion to release any Guarantor from its obligations under the
Guaranty if such Person (a) ceases to be a Subsidiary as a result of a transaction permitted hereunder, (b) no longer is required
to be a Guarantor pursuant to Section 6.15(c) or (c) has been designated as an Unrestricted Subsidiary.  Notwithstanding
the foregoing, to the extent that following any such release, any Real Property Asset owned by an otherwise to be released Guarantor
that is obligated in respect of outstanding recourse debt for Funded Debt shall not be deemed an Unencumbered Property hereunder.  Upon
request by the Administrative Agent at any time, the Required Lenders will confirm in writing the authority of the Administrative
Agent to release any Guarantor from its obligations hereunder pursuant to this Section 9.11.    Upon the release
of any Guarantor 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 Guarantor from its obligations under the Credit Documents.

 

9.12       Other Agents; Arrangers
and Managers.

 

None of the Lenders or
other Persons identified on the facing page or signature pages of this Credit Agreement as a “syndication agent,” “documentation
agent,” “co-agent,” “book manager,” “lead manager,” “arranger,” “lead
arranger” or “co-arranger” shall have any right, power, obligation, liability, responsibility or duty under this
Credit Agreement other than, in the case of such Lenders, those applicable to all Lenders as such.  Without limiting
the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary relationship with
any Lender.  Each Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons
so identified in deciding to enter into this Credit Agreement or in taking or not taking action hereunder.

 

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ARTICLE X

MISCELLANEOUS

 

10.01     Amendments, Etc.

 

No amendment or waiver
of, or any consent to deviation from, any provision of this Credit Agreement or any other Credit Document shall be effective unless
in writing and signed by the Borrower, the Guarantors (if applicable) and the Required Lenders and acknowledged by the Administrative
Agent, and each such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose
for which it is given; provided, however, that:

 

(a)          unless
also signed by each Lender directly affected thereby, no such amendment, waiver or consent shall:

 

(i)       extend
or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02), it being
understood that the amendment or waiver of an Event of Default or a mandatory reduction or a mandatory prepayment in Commitments
shall not be considered an increase in Commitments,

 

(ii)       waive
non-payment or postpone any date fixed by this Credit Agreement or any other Credit Document for any payment of principal, interest,
fees or other amounts due to any Lender hereunder or under any other Credit Document,

 

(iii)       reduce
the principal of, or the rate of interest specified herein on, any Loan, or any fees or other amounts payable hereunder or under
any other Credit Document; provided, however, that only the consent of the Required Lenders shall be necessary (A)
to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest at the Default
Rate or (B) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would
be to reduce the rate of interest on any Loan or to reduce any fee payable hereunder,

 

(iv)       change
any provision of this Credit Agreement regarding pro rata sharing or pro rata funding with respect to (A) the making of advances
(including participations), (B) the manner of application of payments or prepayments of principal, interest, or fees, or (C) the
manner of reduction of commitments and committed amounts,

 

(v)       change
any provision of this Section 10.01(a), the definition of “Required Lenders”, or any other provision hereof
specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination
or grant any consent hereunder, or

 

(vi)       release
the Borrower or all or substantially all of the Subsidiary Guarantors from their obligations hereunder (other than as provided
herein or as appropriate in connection with transactions permitted hereunder);

 

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(b)       unless
also signed by the Administrative Agent, no such amendment, waiver or consent shall affect the rights or duties of the Administrative
Agent under this Credit Agreement or any other Credit Document;

 

provided, however, that notwithstanding
anything to the contrary contained herein, (i) no Defaulting Lender shall have any right to approve or disapprove any amendment,
waiver or consent hereunder, except that, without the prior written consent of such Lender, (A) no Commitment of such Lender may
be increased or extended, (B) the terms and conditions of this proviso may not be amended or otherwise modified and (C) no other
amendment or other modification to this Agreement or any Note that would disproportionately affect a “Defaulting Lender”
may be effective, (ii) each Lender is entitled to vote as such Lender sees fit on any bankruptcy or insolvency reorganization plan
that affects the Loans, (iii) each Lender acknowledged that the provisions of Section 1126(c) of the Bankruptcy Code of the
United States supersedes the unanimous consent provisions set forth herein, (iv) the Required Lenders may consent to allow a Credit
Party to use cash collateral in the context of a bankruptcy or insolvency proceeding and (v) a Commitment Increase Amendment to
give effect to any addition of Incremental Facilities shall be effective if executed by the Credit Parties, each Lender providing
such Incremental Facility Commitment and the Administrative Agent.

 

Notwithstanding any provision herein to the
contrary, this Agreement may be amended with the written consent of the Administrative Agent and the Borrower (i) to add one
or more Incremental Facilities to this Agreement subject to the limitations in Sections 2.01(b) and (c) and to permit
the extensions of credit and all related obligations and liabilities arising in connection therewith from time to time outstanding
to share ratably (or on a basis subordinated to the existing Loans and Commitments hereunder) in the benefits of this Agreement
and the other Credit Documents with the obligations and liabilities from time to time outstanding in respect of the existing Loans
and Commitments hereunder, and (ii) in connection with the foregoing, to permit, as deemed appropriate by the Administrative
Agent, the Lenders providing such Incremental Facilities to participate in any required vote or action required to be approved
by the Required Lenders or by any other number, percentage or class of Lenders hereunder.

 

10.02     Notices and Other Communications;
Facsimile Copies.

 

(a)       General.    Unless
otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing (including
by facsimile transmission).  All such written notices shall be mailed certified or registered mail, faxed or delivered
to the applicable address, facsimile number or (subject to subsection (c) below) electronic mail address, and all notices
and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number,
as follows:

 

(i)       if
to any Credit Party or the Administrative Agent, to the address, facsimile number, electronic mail address or telephone number
specified for such Person on Schedule 10.02 or to such other address, facsimile number, electronic mail address or
telephone number as shall be designated by such party in a notice to the other parties; and

 

(ii)       if
to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative
Questionnaire or to such

 

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other address,
facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to any Credit Party
and the Administrative Agent.

 

Notices sent by hand or overnight courier service,
or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be
deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed
to have been given at the opening of business on the next Business Day for the recipient).  Notices delivered through
electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b).

 

(b)       Electronic
Communications.    Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent;
provided, that the foregoing shall not apply to notices to any Lender pursuant to Article II if such Lender has notified
the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.  The
Administrative Agent or the Borrower may, in its respective discretion, agree to accept notices and other communications to it
hereunder by electronic communications pursuant to procedures approved by it; provided, that approval of such procedures
may be limited to particular notices or communications.

 

(c)       The
Platform.    THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED
BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM
LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM
FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.  In
no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have
any liability to the Borrower, any Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind
(whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of
Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined
by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful
misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to the
Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct
or actual damages).

 

(d)       Effectiveness
of Facsimile Documents and Signatures.    Credit Documents may be transmitted and/or signed by facsimile.  The
effectiveness of any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually-signed
originals and shall be binding on all Credit Parties, the Administrative Agent and the Lenders.  The Administrative Agent
may also require that any such documents and signatures be confirmed by a manually-signed original thereof; provided, however,
that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document or signature.

 

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(e)       Reliance
by Administrative Agent and Lenders.    The Administrative Agent and the Lenders shall be entitled to rely and act
upon any notices (including telephonic notices permitted under Section 2.02(a)) purportedly given by or on behalf of the
Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed
by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation
thereof.  The Borrower shall indemnify each Agent-Related Person and each Lender from all losses, costs, expenses and
liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower.  All
telephonic notices to and other communications with the Administrative Agent may be recorded by the Administrative Agent, and each
of the parties hereto hereby consents to such recording.

 

(f)        Change
of Address, Etc.    Each of the Borrower and the Administrative Agent, may change its address, telecopier or telephone
number for notices and other communications hereunder by notice to the other parties hereto.  Each other Lender may change
its address, telecopier or telephone number for notices and other communications hereunder by notice to the Borrower and the Administrative
Agent.  In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative
Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to
which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.

 

10.03     No Waiver; Cumulative
Remedies.

 

No failure by any Lender
or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights,
remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

 

Notwithstanding anything
to the contrary contained herein or in any other Credit Document, the authority to enforce rights and remedies hereunder and under
the other Credit Documents against the Credit Parties or any of them shall be vested exclusively in, and all actions and proceedings
at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance
with Section 8.02 for the benefit of all the Lenders; provided, however, that the foregoing shall not prohibit
(a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its
capacity as Administrative Agent) hereunder and under the other Credit Documents, (b) any Lender from exercising setoff rights
in accordance with Section 10.09 (subject to the terms of Section 2.10), or (c) any Lender from filing proofs of
claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Credit Party under
any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent
hereunder and under the other Credit Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative
Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b) and (c) of the preceding

 

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proviso and subject to Section 2.10,
any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and
as authorized by the Required Lenders.

 

10.04     Attorney Costs, Expenses
and Taxes.

 

The Credit Parties agree
(a) to pay directly to the provider thereof or to pay or reimburse the Administrative Agent for all reasonable and documented costs
and expenses incurred in connection with the development, preparation, negotiation and execution of this Credit Agreement and the
other Credit Documents, the preservation of any rights or remedies under this Credit Agreement and the other Credit Documents,
and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions
contemplated hereby or thereby are consummated), and the consummation and administration of the transactions contemplated hereby
and thereby, including all Attorney Costs and (b) to pay or reimburse the Administrative Agent and each Lender for all reasonable
costs and expenses incurred following an Event of Default in connection with the enforcement, attempted enforcement, or preservation
of any rights or remedies under this Credit Agreement or the other Credit Documents (including all such costs and expenses incurred
during any “workout” or restructuring in respect of the Obligations and during any legal proceeding, including any
proceeding under any Debtor Relief Law), including all Attorney Costs.  The foregoing costs and expenses shall include
all search, filing, recording, title insurance and appraisal charges and fees and taxes related thereto, and other reasonable and
documented out-of-pocket expenses incurred by the Administrative Agent and the reasonable and documented cost of independent public
accountants and other outside experts retained by the Administrative Agent or any Lender.  All amounts due under this
Section 10.04 shall be payable within twenty (20) Business Days after written invoice therefor is received by the Borrower.  The
agreements in this Section shall survive the termination of the Commitments and repayment of all other Obligations.

 

10.05     Indemnification.

 

The Credit Parties shall
indemnify and hold harmless each Agent-Related Person, each Lender and their respective Affiliates, directors, officers, employees,
counsel, agents, trustees, advisors and attorneys-in-fact (collectively the “Indemnitees”) from and against
any and all liabilities, obligations, losses, damages, penalties, claims, litigation, investigation, proceeding, demands, actions,
judgments, suits, costs, expenses and disbursements (including Attorney Costs) of any kind or nature whatsoever (subject to the
provisions of Section 3.01 with respect to Taxes and Other Taxes) that may at any time be imposed on, incurred by or
asserted against any such Indemnitee (whether by a Credit Party or any other party) in any way relating to or arising out of or
in connection with (a) the execution, delivery, enforcement, performance or administration of any Credit Document or any other
agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions
contemplated thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the
administration of this Agreement and the other Credit Documents, (b) any Commitment, Loan or the use or proposed use of the proceeds
therefrom, or (c) any actual or threatened claim, litigation, investigation or proceeding relating to any of the foregoing, whether
based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened
claim, investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party thereto (all the foregoing,

 

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collectively, the “Indemnified Liabilities”);
provided, that such indemnification shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations,
losses, damages, penalties, claims, litigation, investigation, proceeding, demands, actions, judgments, suits, costs, expenses
or disbursements are determined to have resulted from the gross negligence or willful misconduct of any Indemnitee.  No
Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through
SyndTrak or other similar information transmission systems in connection with this Credit Agreement, and no Indemnitee shall have
any liability for any indirect or consequential damages relating to this Credit Agreement or any other Credit Document or arising
out of its activities in connection herewith or therewith (whether before or after the Closing Date).  All amounts that
may become due under this Section 10.05 shall be payable within twenty (20) Business Days after written invoice therefor
is received by the Borrower.  The agreements in this Section 10.05 shall survive the resignation of the Administrative
Agent, the assignment by any Lender of any of its interests hereunder, the replacement of any Lender, the termination of the Commitments
and the repayment, satisfaction or discharge of all the other Obligations.

 

10.06     Payments Set Aside.

 

To the extent that any
payment by or on behalf of the Borrower is made to the Administrative Agent or any Lender, or the Administrative Agent or any Lender
exercises its right of set-off, and such payment or the proceeds of such set-off or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative
Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding
under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended
to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such set-off had
not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount
so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment
is made at a rate per annum equal to the Federal Funds Rate from time to time in effect.

 

10.07     Successors and Assigns.

 

(a)       The
provisions of this Credit Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby, except that neither the Borrower nor any other Credit Party may assign or otherwise transfer any
of its rights or obligations hereunder without the prior written consent of each Lender and no Lender may assign or otherwise transfer
any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of subsection (b)
of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, or (iii)
by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) or (i) of this Section
(and any other attempted assignment or transfer by any party hereto shall be null and void).  Nothing in this Credit
Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective
successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the

 

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extent expressly contemplated hereby, the Indemnitees)
any legal or equitable right, remedy or claim under or by reason of this Credit Agreement.

 

(b)       Any
Lender may at any time, with notice to the Borrower and, unless (1) an Event of Default has occurred and is continuing at the time
of such assignment or (2) the assignment is to a Lender, an Affiliate of such Lender or an Approved Fund, the consent of the Borrower
(such consent not to be unreasonably withheld or delayed), assign to one or more Eligible Assignees all or a portion of its rights
and obligations under this Credit Agreement (including all or a portion of its Commitment and the Loans at the time owing to it);
provided, that (i) except in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment
and the Loans at the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund
with respect to a Lender, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder)
subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered
to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date,
shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and
is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed) provided,
however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee
Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met; (ii) each partial assignment shall be made as
an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Credit Agreement with
respect to the Loans or the Commitment assigned; (iii) any assignment of a Commitment must be approved by the Administrative
Agent, unless the Person that is the proposed assignee is itself a Lender (whether or not the proposed assignee would otherwise
qualify as an Eligible Assignee); (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an
Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however,
that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment and (v) no such assignment shall be made to (A) the Borrower or any of the Borrower’s Affiliates or Subsidiaries,
(B) any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any
of the foregoing Persons described in this clause (B), or (C) a natural person.  In connection with any assignment of
rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition
to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative
Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by
the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the
Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting
Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment
liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon)
and (y) acquire (and fund as appropriate) its full pro rata share of all Loans.  Notwithstanding the foregoing, in the
event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable
Law without compliance with the provisions of this paragraph, then

 

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the assignee of such interest shall be deemed
to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.  Subject to acceptance and
recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date
specified in each Assignment and Assumption, the Eligible Assignee thereunder shall be a party to this Credit Agreement and, to
the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Credit
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption,
be released from its obligations under this Credit Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Credit Agreement, such Lender shall cease to be a party hereto but
shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, 10.04 and 10.05
with respect to facts and circumstances occurring prior to the effective date of such assignment).  Upon request, the
Borrower (at its expense) shall execute and deliver a Note to the assignee Lender.  Any assignment or transfer by a Lender
of rights or obligations under this Credit Agreement that does not comply with this subsection shall be treated for purposes of
this Credit Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d)
of this Section.

 

(c)       The
Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the Administrative Agent’s
Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of
the Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender pursuant to the terms hereof from
time to time (the “Register”).  The entries in the Register shall be conclusive absent manifest error,
and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant
to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  In
addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation,
of any Lender as a Defaulting Lender.  The Register shall be available for inspection by the Borrower at any reasonable
time and from time to time upon reasonable prior notice.  In addition, at any time that a request for a consent for a
material or other substantive change to the Credit Documents is pending, any Lender wishing to consult with other Lenders in connection
therewith may request and receive from the Administrative Agent a copy of the Register.

 

(d)       Any
Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to
any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”)
in all or a portion of such Lender’s rights and/or obligations under this Credit Agreement (including all or a portion of
its Commitment and/or the Loans owing to it); provided, that (i) such Lender’s obligations under this Credit Agreement
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this Credit Agreement.  Any agreement
or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Credit Agreement and to approve any amendment, modification or waiver of any provision of this Credit Agreement;
provided, that such agreement or instrument may provide that such Lender

 

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will not, without the consent of the Participant,
agree to any amendment, waiver or other modification that extends the time for, reduces the amount or alters the application of
proceeds with respect to such obligations and payments required therein that directly affects such Participant.  Subject
to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01,
3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b)
of this Section.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.09
as though it were a Lender; provided, such Participant agrees to be subject to Section 2.10 as though it were
a Lender.

 

(e)       A
Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable
Lender would have been entitled to receive with respect to the participation sold to such Participant.  A Participant
that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the
Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower,
to comply with Section 10.15 as though it were a Lender.

 

(f)       Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Credit Agreement (including
under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal
Reserve Bank; provided, that no such pledge or assignment shall release such Lender from any of its obligations hereunder
or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(g)       Notwithstanding
anything to the contrary contained herein, any Lender that is a Fund may (without notice to or the consent of any of the parties
hereto) create a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee
for holders of obligations owed, or securities issued, by such Fund as security for such obligations or securities; provided,
that unless and until such trustee actually becomes a Lender in compliance with the other provisions of this Section 10.07,
(i) no such pledge shall release the pledging Lender from any of its obligations under the Credit Documents and (ii) such trustee
shall not be entitled to exercise any of the rights of a Lender under the Credit Documents even though such trustee may have acquired
ownership rights with respect to the pledged interest through foreclosure or otherwise.

 

10.08     Confidentiality.

 

Each of the Administrative
Agent and the Lenders agrees to maintain the confidentiality of Confidential Information, except that Confidential Information
may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel
and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature
of such Confidential Information and instructed to keep such Confidential Information confidential); (b) to the extent requested
by any regulatory authority or self regulatory body; (c) to the extent required by applicable Law or regulations or by any subpoena
or similar legal process; (d) to any other party to this Credit Agreement; (e) in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Credit Agreement or the enforcement of rights hereunder (it being
understood that the

 

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Persons to whom such disclosure is made will
be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential);
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any Eligible Assignee
of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its rights or obligations under this Credit
Agreement or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s
or prospective counterparty’s professional advisor) to any credit derivative transaction relating to obligations of the Credit
Parties; (g) with the consent of the Borrower; (h) to the extent such Confidential Information (i) becomes publicly available
other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a nonconfidential
basis from a source other than the Borrower; (i) to the National Association of Insurance Commissioners or any other similar organization
(it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential
Information and instructed to keep such Confidential Information confidential); or (j) to any nationally recognized rating agency
that requires access to a Lender’s or an Affiliate’s investment portfolio in connection with ratings issued with respect
to such Lender or Affiliate.  In addition, the Administrative Agent and the Lenders may disclose the existence of this
Credit Agreement and information about this Credit Agreement to market data collectors, similar service providers to the lending
industry, and service providers to the Administrative Agent and the Lenders in connection with the administration and management
of this Credit Agreement, the other Credit Documents, the Commitments, and the Extension of Credits.  Any Person required
to maintain the confidentiality of Confidential Information as provided in this Section shall be considered to have complied
with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Confidential
Information as such Person would accord to its own confidential information.  “Confidential Information”
means all information received from any Credit Party relating to any Credit Party, any of the other Consolidated Parties, or its
or their business, other than any such information that is available to the Administrative Agent or any Lender on a nonconfidential
basis prior to disclosure by any Credit Party; provided, that, in the case of information received from a Credit Party after
the date hereof, such information is clearly identified in writing at the time of delivery as confidential.

 

Each of the Administrative
Agent and the Lenders acknowledges that (a) the Confidential Information may include material non-public information concerning
the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and
state securities Laws.

 

10.09     Set-off.

 

In addition to any rights
and remedies of the Lenders provided by law, upon the occurrence and during the continuance of any Event of Default, each Lender
and each of its Affiliates are authorized at any time and from time to time, without prior notice to the Borrower or any other
Credit Party, any such notice being waived by the Borrower (on their own behalf and on behalf of each Credit Party) to the fullest
extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at
any time held by, and other indebtedness at any time owing by, such Lender or Affiliate to or for the credit or the account of
the respective Credit Parties against any and all Obligations owing to such Lender

 

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hereunder or under any other Credit Document,
now or hereafter existing, irrespective of whether or not the Administrative Agent or such Lender shall have made demand under
this Credit Agreement or any other Credit Document and although such Obligations may be contingent or unmatured or denominated
in a currency different from that of the applicable deposit or indebtedness; provided, that in the event that any Defaulting
Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative
Agent for further application in accordance with the provisions of Section 2.12 and, pending such payment, shall be segregated
by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders,
and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the
Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.  The rights of each Lender
and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff)
that such Lender or its Affiliates may have.  Each Lender agrees to notify the Borrower and the Administrative Agent
promptly after any such setoff and application; provided, that the failure to give such notice shall not affect the validity
of such setoff and application.

 

10.10     Interest Rate Limitation.

 

Notwithstanding anything
to the contrary contained in any Credit Document, the interest paid or agreed to be paid under the Credit Documents shall not exceed
the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).  If the
Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall
be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.  In determining
whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such
Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or
premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and
spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

 

10.11     Counterparts.

 

This Credit Agreement
may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

10.12     Integration.

 

This Credit Agreement,
together with the other Credit Documents, comprises the complete and integrated agreement of the parties on the subject matter
hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter.  In the event of any
conflict between the provisions of this Credit Agreement and those of any other Credit Document, the provisions of this Credit
Agreement shall control; provided, that the inclusion of specific supplemental rights or remedies in favor of the Administrative
Agent or the Lenders in any other Credit Document shall not be deemed a conflict with this Credit Agreement.  Each Credit
Document was drafted with the joint participation of the respective parties thereto and

 

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shall be construed neither against nor in favor
of any party, but rather in accordance with the fair meaning thereof.

 

10.13     Survival of Representations
and Warranties.

 

All representations and
warranties made hereunder and in any other Credit Document or other document delivered pursuant hereto or thereto or in connection
herewith or therewith shall survive the execution and delivery hereof and thereof.  Such representations and warranties
have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative
Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge
of any Default or Event of Default at the time of any Extension of Credit, and shall continue in full force and effect as long
as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied.

 

10.14     Severability.

 

If any provision of this
Credit Agreement or the other Credit Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and
enforceability of the remaining provisions of this Credit Agreement and the other Credit Documents shall not be affected or impaired
thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

10.15     Tax Forms.

 

(a)       (i)
       Each Lender that is not a “United States person” within the meaning of Section 7701(a)(30)
of the Internal Revenue Code (a “Foreign Lender”) shall deliver to the Administrative Agent, prior to receipt
of any payment subject to withholding under the Internal Revenue Code (or upon accepting an assignment of an interest herein),
two duly signed completed copies of either IRS Form W-8BEN or any successor thereto (relating to such Foreign Lender and entitling
it to an exemption from, or reduction of, withholding tax on all payments to be made to such Foreign Lender by the Borrower pursuant
to this Credit Agreement) or IRS Form W-8ECI or any successor thereto (relating to all payments to be made to such Foreign
Lender by the Borrower pursuant to this Credit Agreement) or such other evidence satisfactory to the Borrower and the Administrative
Agent that such Foreign Lender is entitled to an exemption from, or reduction of, U.S. withholding tax, including any exemption
pursuant to Section 881(c) of the Internal Revenue Code.  Thereafter and from time to time, each such Foreign Lender
shall (A) promptly submit to the Administrative Agent such additional duly completed and signed copies of one of such forms (or
such successor forms as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available
under then current United States laws and regulations to avoid, or such evidence as is satisfactory to the Borrower and the Administrative
Agent of any available exemption from or reduction of, United States withholding taxes in respect of all payments to be made to
such Foreign Lender by the Borrower pursuant to this Credit Agreement, (B) promptly notify the Administrative Agent of any change

 

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in circumstances that would modify or render
invalid any claimed exemption or reduction, and (C) take such steps as shall not be materially disadvantageous to it, in the reasonable
judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to avoid any requirement
of applicable Law that the Borrower make any deduction or withholding for taxes from amounts payable to such Foreign Lender.

 

(ii)       Each
Foreign Lender, to the extent it does not act or ceases to act for its own account with respect to any portion of any sums paid
or payable to such Lender under any of the Credit Documents (for example, in the case of a typical participation by such Lender),
shall deliver to the Administrative Agent on the date when such Foreign Lender ceases to act for its own account with respect to
any portion of any such sums paid or payable, and at such other times as may be necessary in the determination of the Administrative
Agent (in the reasonable exercise of its discretion), (A) two duly signed completed copies of the forms or statements required
to be provided by such Lender as set forth above, to establish the portion of any such sums paid or payable with respect to which
such Lender acts for its own account that is not subject to U.S.  withholding tax, and (B) two duly signed completed
copies of IRS Form W-8IMY (or any successor thereto), together with any information such Lender chooses to transmit with such
form, and any other certificate or statement of exemption required under the Internal Revenue Code, to establish that such Lender
is not acting for its own account with respect to a portion of any such sums payable to such Lender.

 

(iii)       The
Borrower shall not be required to pay any additional amount to any Foreign Lender under Section 3.01 (A) with respect
to any Taxes required to be deducted or withheld on the basis of the information, certificates or statements of exemption such
Lender transmits with an IRS Form W-8IMY pursuant to this Section 10.15(a) or (B) if such Lender shall have failed
to satisfy the foregoing provisions of this Section 10.15(a); provided, that if such Lender shall have satisfied
the requirement of this Section 10.15(a) on the date such Lender became a Lender or ceased to act for its own account
with respect to any payment under any of the Credit Documents, nothing in this Section 10.15(a) shall relieve the Borrower
of their obligation to pay any amounts pursuant to Section 3.01 in the event that, as a result of any change in any
applicable Law, treaty or governmental rule, regulation or order, or any change in the interpretation, administration or application
thereof, such Lender is no longer properly entitled to deliver forms, certificates or other evidence at a subsequent date establishing
the fact that such Lender or other Person for the account of which such Lender receives any sums payable under any of the Credit
Documents is not subject to withholding or is subject to withholding at a reduced rate.

 

(iv)       The
Administrative Agent may, without reduction, withhold any Taxes required to be deducted and withheld from any payment under any
of the Credit Documents with respect to which the Borrower is not required to pay additional amounts under this Section 10.15(a).

 

(b)       Upon
the request of the Administrative Agent, each Lender that is a “United States person” within the meaning of Section 7701(a)(30)
of the Internal Revenue Code shall deliver to the Administrative Agent two duly signed completed copies of IRS Form W-9.  If
such

 

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Lender fails to deliver such forms, then the
Administrative Agent may withhold from any interest payment to such Lender an amount equivalent to the applicable back-up withholding
tax imposed by the Internal Revenue Code, without reduction.

 

(c)       If
any Governmental Authority asserts that the Administrative Agent did not properly withhold or backup withhold, as the case may
be, any tax or other amount from payments made to or for the account of any Lender, such Lender shall indemnify the Administrative
Agent therefor, including all penalties and interest, any taxes imposed by any jurisdiction on the amounts payable to the Administrative
Agent under this Section, and costs and expenses (including Attorney Costs) of the Administrative Agent.  The obligation
of the Lenders under this Section shall survive the termination of the Commitments, repayment of all other Obligations hereunder
and the resignation of the Administrative Agent.

 

10.16     Replacement of Lenders.

 

To the extent that Section
3.06(b) provides that the Borrower shall have the right to replace a Lender as a party to this Credit Agreement, or if any
Lender is a Defaulting Lender, the Borrower may, upon notice to such Lender and the Administrative Agent, replace such Lender by
causing such Lender to assign its Commitment (with the related assignment fee to be paid by the Borrower) pursuant to Section 10.07(b)
to one or more Eligible Assignees procured by the Borrower; provided, however, that if the Borrower elects to exercise
such right with respect to any Lender pursuant to such Section 3.06(b), they shall be obligated to replace all Lenders
that have made similar requests for compensation pursuant to Section 3.01 or 3.04.  The Borrower shall
pay in full all principal, interest, fees and other amounts owing to such Lender through the date of replacement (including any
amounts payable pursuant to Section 3.05).  Any Lender being replaced shall execute and deliver an Assignment
and Assumption with respect to such Lender’s Commitment and outstanding Loans.

 

10.17     No Advisory or Fiduciary
Responsibility.

 

In connection with all
aspects of each transaction contemplated hereby, the Borrower acknowledges and agrees, and acknowledges its respective Affiliates’
understanding, that: (a) the credit facility provided for hereunder and any related arranging or other services in connection therewith
(including in connection with any amendment, waiver or other modification hereof or of any other Credit Document) are an arm’s-length
commercial transaction between the Borrower and its respective Affiliates, on the one hand, and the Administrative Agent, the Arranger
and the Lenders, on the other hand, and each Credit Party is capable of evaluating and understanding and understands and accepts
the terms, risks and conditions of the transactions contemplated hereby and by the other Credit Documents (including any amendment,
waiver or other modification hereof or thereof); (b) in connection with the process leading to such transaction, the Administrative
Agent and the Arranger each is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary,
for the Borrower or any of its respective Affiliates, stockholders, creditors or employees or any other Person; (c) neither the
Administrative Agent nor the Arranger has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the
Borrower with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to
any amendment, waiver or other modification hereof or of any other Credit Document (irrespective of whether the

 

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Administrative Agent or the Arranger has advised
or is currently advising the Borrower or any of its respective Affiliates on other matters) and neither the Administrative Agent
nor the Arranger has any obligation to the Borrower or any of its respective Affiliates with respect to the transactions contemplated
hereby except those obligations expressly set forth herein and in the other Credit Documents; (d) the Administrative Agent and
the Arranger and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ
from those of the Borrower and its respective Affiliates, and neither the Administrative Agent nor the Arranger has any obligation
to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (e) the Administrative
Agent and the Arranger have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any
of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Credit Document)
and each Credit Party has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate.  Each
Credit Party hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Administrative
Agent and the Arranger with respect to any breach or alleged breach of agency or fiduciary duty.

 

10.18     Source of Funds.

 

Each of the Lenders hereby
represents and warrants to the Borrower that at least one of the following statements is an accurate representation as to the source
of funds to be used by such Lender in connection with the financing hereunder:

 

(a)       no
part of such funds constitutes assets allocated to any separate account maintained by such Lender in which any employee benefit
plan (or its related trust) has any interest;

 

(b)       to
the extent that any part of such funds constitutes assets allocated to any separate account maintained by such Lender, such Lender
has disclosed to the Borrower the name of each employee benefit plan whose assets in such account exceed ten percent (10%) of the
total assets of such account as of the date of such purchase (and, for purposes of this subsection (b), all employee benefit
plans maintained by the same employer or employee organization are deemed to be a single plan);

 

(c)       to
the extent that any part of such funds constitutes assets of an insurance company’s general account, such insurance company
has complied with all of the requirements of the regulations issued under Section 401(c)(1)(A) of ERISA; or

 

(d)       such
funds constitute assets of one or more specific benefit plans that such Lender has identified in writing to the Borrower.

 

As used in this Section, the terms “employee
benefit plan” and “separate account” shall have the respective meanings provided in Section 3 of ERISA.

 

10.19     GOVERNING LAW.

 

(a)       THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, the LAW OF THE
STATE OF NEW YORK applicable to 

 

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agreements
made and to be performed entirely within such State, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES; PROVIDED, THAT
THE ADMINISTRATIVE Agent AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL
LAW.

 

(b)       ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK COUNTY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY EXECUTION AND DELIVERY
OF THIS AGREEMENT, THE BORROWER, THE CREDIT PARTIES, THE ADMINISTRATIVE Agent AND
EACH LENDER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS.  THE
BORROWER, THE CREDIT PARTIES, THE ADMINISTRATIVE Agent AND EACH LENDER IRREVOCABLY
WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH
IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY CREDIT DOCUMENT
OR OTHER DOCUMENT RELATED THERETO.  THE BORROWER, THE CREDIT PARTIES, THE ADMINISTRATIVE
Agent AND EACH LENDER WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER
MEANS PERMITTED BY THE LAW OF SUCH STATE.

 

10.20     WAIVER OF RIGHT TO TRIAL
BY JURY.

 

EACH PARTY TO THIS AGREEMENT
HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY CREDIT DOCUMENT
OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY
CREDIT DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED
IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY
OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY.

 

10.21     No Conflict.

 

To
the extent there is any conflict or inconsistency between the provisions hereof and the provisions of any other Credit Document,
this Credit Agreement shall control.

 

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10.22     USA Patriot Act Notice.

 

Each Lender and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot
Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to
obtain, verify and record information that identifies the Borrower (and to the extent applicable, the other Credit Parties), which
information includes the name and address of the Borrower (and to the extent applicable, the other Credit Parties) and other information
that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower (and to the extent applicable,
the other Credit Parties) in accordance with the Act.  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.

 

10.23     Entire Agreement.

 

This
Credit Agreement and the other Credit Documents represent the final agreement AMONG the parties and may not be contradicted by
evidence of prior, contemporaneous, or subsequent oral agreements of the parties.  There are no unwritten oral agreements
AMONG the parties.

 

ARTICLE XI

GUARANTY

 

11.01     The Guaranty.

 

(a)       Each
of the Guarantors hereby jointly and severally guarantees to the Administrative Agent and each of the holders of the Obligations,
as hereinafter provided, as primary obligor and not as surety, the prompt payment of the Obligations (the “Guaranteed
Obligations”) in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise)
strictly in accordance with the terms thereof.  The Guarantors hereby further agree that if any of the Guaranteed Obligations
are not paid in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise), the Guarantors
will, jointly and severally, promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension
of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at
extended maturity, as a mandatory prepayment, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

(b)       Notwithstanding
any provision to the contrary contained herein, in any of the other Credit Documents or other documents relating to the Obligations,
the obligations of each Guarantor under this Credit Agreement shall be limited to an aggregate amount equal to the largest amount
that would not render such obligations subject to avoidance under the Debtor Relief Laws or any comparable provisions of any applicable
state law.

 

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11.02     Obligations Unconditional.

 

The obligations of the
Guarantors under Section 11.01 are joint and several, absolute and unconditional, irrespective of the value, genuineness,
validity, regularity or enforceability of any of the Credit Documents or other documents relating to the Obligations, or any substitution,
compromise, release, impairment or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, to
the fullest extent permitted by applicable Laws, irrespective of any other circumstance whatsoever that might otherwise constitute
a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 11.02 that
the obligations of the Guarantors hereunder shall be absolute and unconditional under any and all circumstances.  Each
Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against the Borrower
or any other Guarantor for amounts paid under this Article XI until such time as the Obligations have been irrevocably
paid in full and the Commitments relating thereto have expired or been terminated.  Without limiting the generality of
the foregoing, it is agreed that, to the fullest extent permitted by applicable Laws, the occurrence of any one or more of the
following shall not alter or impair the liability of any Guarantor hereunder, which shall remain absolute and unconditional as
described above:

 

(a)       at
any time or from time to time, without notice to any Guarantor, the time for any performance of or compliance with any of the Guaranteed
Obligations shall be extended, or such performance or compliance shall be waived;

 

(b)       any
of the acts mentioned in any of the provisions of any of the Credit Documents, or other documents relating to the Guaranteed Obligations
or any other agreement or instrument referred to therein shall be done or omitted;

 

(c)       the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Obligations shall be modified, supplemented or
amended in any respect, or any right under any of the Credit Documents or other documents relating to the Guaranteed Obligations,
or any other agreement or instrument referred to therein shall be waived or any other guarantee of any of the Guaranteed Obligations
or any security therefor shall be released, impaired or exchanged in whole or in part or otherwise dealt with;

 

(d)       any
Lien granted to, or in favor of, the Administrative Agent or any of the holders of the Guaranteed Obligations as security for any
of the Guaranteed Obligations shall fail to attach or be perfected; or

 

(e)       any
of the Guaranteed Obligations shall be determined to be void or voidable (including for the benefit of any creditor of any Guarantor)
or shall be subordinated to the claims of any Person (including any creditor of any Guarantor).

 

With respect to its obligations
hereunder, each Guarantor hereby expressly waives diligence, presentment, demand of payment, protest notice of acceptance of the
guaranty given hereby and of extensions of credit that may constitute Guaranteed Obligations, notices of amendments, waivers and
supplements to the Credit Documents and other documents relating to the Guaranteed Obligations, or the compromise, release or exchange
of collateral or security, and all notices whatsoever, and any requirement that the Administrative Agent or any holder of the Guaranteed

 

    	96

    	 

    

  

Obligations exhaust any right, power or remedy
or proceed against any Person under any of the Credit Documents or any other documents relating to the Guaranteed Obligations or
any other agreement or instrument referred to therein, or against any other Person under any other guarantee of, or security for,
any of the Obligations.

 

11.03     Reinstatement.

 

Neither the Guarantors’
obligations hereunder nor any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner
whatsoever by an impairment, modification, change, release or limitation of the liability of the Borrower, by reason of the Borrower’s
bankruptcy or insolvency or by reason of the invalidity or unenforceability of all or any portion
of the Guaranteed Obligations.  The obligations of the Guarantors under this Article XI shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Guaranteed Obligations
is rescinded or must be otherwise restored by any holder of any of the Obligations, whether as a result of any proceedings pursuant
to any Debtor Relief Law or otherwise, and each Guarantor agrees that it will indemnify the Administrative Agent and each holder
of Guaranteed Obligations on demand for all reasonable costs and expenses (including all reasonable fees, expenses and disbursements
of any law firm or other counsel) incurred by the Administrative Agent or such holder of Guaranteed Obligations in connection with
such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such
payment constituted a preference, fraudulent transfer or similar payment under any Debtor Relief Law; provided, that such
indemnification shall not be available to the extent that such costs and expenses are determined to have resulted from the gross
negligence or willful misconduct of the Administrative Agent or such holder of the Guaranteed Obligations.

 

11.04     Certain Waivers.

 

Each Guarantor acknowledges
and agrees that (a) the guaranty given hereby may be enforced without the necessity of resorting to or otherwise exhausting
remedies in respect of any other security or collateral interests, and without the necessity at any time of having to take recourse
against the Borrower hereunder or against any collateral securing the Guaranteed Obligations or otherwise, (b) it will not
assert any right to require the action first be taken against the Borrower or any other Person (including any other Guarantor)
or pursuit of any other remedy or enforcement any other right and (c) nothing contained herein shall prevent or limit action
being taken against the Borrower hereunder, under the other Credit Documents or the other documents and agreements relating to
the Guaranteed Obligations or from foreclosing on any security or collateral interests relating hereto or thereto, or from exercising
any other rights or remedies available in respect thereof, if neither the Borrower nor the Guarantors shall timely perform their
obligations, and the exercise of any such rights and completion of any such foreclosure proceedings shall not constitute a discharge
of the Guarantors’ obligations hereunder unless as a result thereof, the Guaranteed Obligations shall have been paid in full
and the Commitments relating thereto shall have expired or been terminated, it being the purpose and intent that the Guarantors’
obligations hereunder be absolute, irrevocable, independent and unconditional under all circumstances.

 

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11.05     Rights of Contribution.

 

The Guarantors hereby agree
as among themselves that, in connection with payments made hereunder, each Guarantor shall have a right of contribution from each
other Guarantor in accordance with applicable Laws.  Such contribution rights shall be subordinate and subject in right
of payment to the Guaranteed Obligations until such time as the Guaranteed Obligations have been paid in full and the Commitments
relating thereto shall have expired or been terminated, and none of the Guarantors shall exercise any such contribution rights
until the Guaranteed Obligations have been paid in full and the Commitments relating thereto shall have expired or been terminated.

 

11.06     Guaranty of Payment;
Continuing Guaranty.

 

The guarantee in this Article XI
is a guaranty of payment and not of collection, and is a continuing guarantee, and shall apply to all Guaranteed Obligations whenever
arising until such time as the Guaranteed Obligations have been paid in full and the Commitments relating thereto shall have expired
or been terminated.

 

11.07     Keepwell.

 

Each Credit Party that
is a Qualified ECP Guarantor at the time the Guaranty in this Article XI by any Credit Party that is not then an “eligible
contract participant” under the Commodity Exchange Act (a “Specified Loan Party”) or the grant of a security
interest under the Credit Documents by any such Specified Loan Party, in either case, becomes effective with respect to any obligation
under any Swap Contract, hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds
or other support to each Specified Loan Party with respect to such Obligation as may be needed by such Specified Loan Party from
time to time to honor all of its obligations under the Credit Documents in respect of such Obligation on (but, in each case, only
up to the maximum amount of such liability that can be hereby incurred without rendering such Qualified ECP Guarantor’s obligations
and undertakings under this Article XI voidable under applicable Debtor Relief Laws, and not for any greater amount).  The
obligations and undertakings of each applicable Credit Party under this Section shall remain in full force and effect until the
Obligations have been indefeasibly paid and performed in full.  Each Credit Party intends this Section to constitute,
and this Section shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each Credit
Party that would otherwise not constitute an Eligible Contract Participant for any Swap Obligation for all purposes of the Commodity
Exchange Act.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
-

SIGNATURE PAGES AND SCHEDULES AND EXHIBITS
TO FOLLOW]

 

    	98

    	 

    

  

IN WITNESS WHEREOF, the
parties hereto have caused this Credit Agreement to be duly executed 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	 

 

	GUARANTORS:	OHI ASSET (la), LLC

 

	 	By:	Omega Healthcare Investors, Inc.,

a Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	 	By:	Omega TRS I, Inc.,
	 	 	a Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:  	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

 

	 	OHI ASSET, LLC
	 	OHI ASSET (ID), LLC
	 	OHI ASSET (CA), LLC
	 	DELTA INVESTORS I, LLC
	 	DELTA INVESTORS II, LLC
	 	OHI Asset (CO), LLC
	 	COLONIAL GARDENS, LLC
	 	WILCARE, LLC
	 	nrs ventures, l.l.c.
	 	ohi asset (ct) lender, llc
	 	ohi asset (Fl), llc
	 	ohi asset (il), llc
	 	ohi asset (mo), llc
	 	ohi asset (oh), llc
	 	ohi asset (oh) lender, llc
	 	ohi asset (pa), llc
	 	ohi asset ii (ca), llc
	 	ohi asset ii (fl), llc
	 	ohi asset cse-e, llc
	 	ohi asset cse-u, llc
	 	OHI ASSET CSb LLC
	 	OHI ASSET (MI), LLC
	 	OHI ASSET (FL) LENDER, LLC
	 	OHI ASSET HUD WO, LLC
	 	OHI ASSET (MD), LLC
	 	OHI ASSET (IN), LLC
	 	OHI ASSET (MI/NC), LLC
	 	OHI ASSET (OH) NEW PHILADELPHIA, LLC
	 	OHI ASSET (TX), LLC
	 	OHI ASSET ESSEX (OH), LLC
	 	OHI ASSET (IN) WABASH, LLC
	 	OHI ASSET (IN) WESTFIELD, LLC
	 	OHI ASSET (IN) GREENSBURG, LLC
	 	OHI ASSET (IN) INDIANAPOLIS, LLC
	 	OHI ASSET HUD SF, LLC
	 	OHI ASSET (IN) AMERICAN VILLAGE, LLC
	 	OHI ASSET (IN) ANDERSON, LLC
	 	OHI ASSET (IN) BEECH GROVE, LLC
	 	OHI ASSET (IN) CLARKSVILLE, LLC
	 	OHI ASSET (IN) EAGLE VALLEY, LLC
	 	OHI ASSET (IN) ELKHART, LLC
	 	OHI ASSET (IN) FOREST CREEK, LLC
	 	OHI ASSET (IN) FORT WAYNE, LLC
	 	OHI ASSET (IN) FRANKLIN, LLC
	 	OHI ASSET (IN) KOKOMO, LLC
	 	OHI ASSET (IN) LAFAYETTE, LLC
	 	 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	OHI ASSET (IN) MONTICELLO, LLC
	 	OHI ASSET (IN) NOBLESVILLE, LLC
	 	OHI ASSET (IN) ROSEWALK, LLC
	 	OHI ASSET (IN) SPRING MILL, LLC
	 	OHI ASSET (IN) TERRE HAUTE, LLC
	 	OHI ASSET (IN) ZIONSVILLE, LLC
	 	OHI Asset HUD CFG, LLC
	 	OHI ASSET HUD SF CA, LLC
	 	OHI ASSET (TX) HONDO, LLC 
	 	OHI ASSET (MI) HEATHER HILLS, LLC
	 	OHI ASSET (IN) CROWN POINT, LLC
	 	OHI ASSET (IN) MADISON, LLC
	 	OHI ASSET (AR) ASH FLAT, LLC
	 	OHI ASSET (AR) CAMDEN, LLC
	 	OHI ASSET (AR) CONWAY, LLC
	 	OHI ASSET (AR) DES ARC, LLC
	 	OHI ASSET (AR) HOT SPRINGS, LLC
	 	OHI ASSET (AR) MALVERN, LLC
	 	OHI ASSET (AR) MENA, LLC
	 	OHI ASSET (AR) POCAHONTAS, LLC
	 	OHI ASSET (AR) SHERIDAN, LLC
	 	OHI ASSET (AR) WALNUT RIDGE, LLC
	 	OHI ASSET RO, LLC
	 	OHI ASSET (FL) LAKE PLACID, LLC
	 	OHI ASSETHUD DELTA, LLC

 

	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of each such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:  	Chief Operating Officer

 

	 	3806 CLAYTON ROAD, LLC
	 	245 EAST WILSHIRE AVENUE, LLC
	 	13922 CERISE AVENUE, LLC
	 	637 EAST ROMIE LANE, LLC
	 	523 HAYES LANE, LLC

 

	 	By:	OHI Asset HUD SF CA, LLC, 
	 	 	the Sole Member of each such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:  	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	ENCANTO SENIOR CARE, LLC

 

	 	By:	OHI Asset HUD SF, LLC, 
	 	 	its Sole Member

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:  	Chief Operating Officer

 

	 	CFG 2115 WOODSTOCK PLACE, LLC
	 	1200 ELY STREET HOLDINGS CO. LLC
	 	42235 COUNTY ROAD HOLDINGS CO. LLC
	 	2425 TELLER AVENUE, LLC
	 	48 HIGH POINT ROAD, LLC

 

	 	By:	OHI Asset HUD CFG, LLC,
	 	 	the Sole Member of each of the companies
	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	 	Texas Lessor - Stonegate, LP

 

	 	By:	Texas Lessor – Stonegate GP, Inc.,
	 	 	Its General Partner

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:  	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE DENVER ILIFF LLC
	 	CSE FAIRHAVEN LLC
	 	CSE MARIANNA HOLDINGS LLC
	 	CSE TEXARKANA LLC
	 	CSE WEST POINT LLC
	 	CSE WHITEHOUSE LLC
	 	CARNEGIE GARDENS LLC
	 	FLORIDA REAL ESTATE COMPANY, LLC
	 	GREENBOUGH, LLC
	 	LAD I REAL ESTATE COMPANY, LLC
	 	PANAMA CITY NURSING CENTER LLC
	 	SKYLER MAITLAND LLC
	 	SUWANEE, LLC

 

	 	By:	OHI Asset CSE-U, LLC,
	 	 	the Sole Member of each of the companies
	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	 	CSE BLOUNTVILLE LLC
	 	CSE BOLIVAR LLC
	 	CSE CAMDEN LLC
	 	CSE HUNTINGDON LLC
	 	CSE JEFFERSON CITY LLC
	 	CSE MEMPHIS LLC
	 	CSE RIPLEY LLC

 

	 	By:	OHI Tennessee, Inc.,
	 	 	the Sole Member of each of the companies

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE CORPUS NORTH LLC
	 	CSE JACINTO CITY LLC
	 	CSE KERRVILLE LLC
	 	CSE RIPON LLC
	 	CSE SPRING BRANCH LLC
	 	CSE THE VILLAGE LLC
	 	CSE WILLIAMSPORT LLC
	 	DESERT LANE LLC
	 	NORTH LAS VEGAS LLC

 

	 	By:	OHI Asset CSE-E, LLC,
	 	 	the Sole Member of each of the companies
	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	 	HOUSE OF HANOVER, LTD.

 

	 	By:	OHI Asset (OH), LLC,
	 	 	the Sole Member of such company
	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

	 	PAVILLION NORTH, LLP

 

	 	By:	Pavillion Nursing Center North, Inc.,
	 	 	its General Partner

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	OHI ASSET (PA) TRUST
	 	OHI ASSET II (PA) TRUST
	 	OHI ASSET III (PA) TRUST
	 	OHI ASSET IV (PA) SILVER LAKE TRUST
	 	 	 	 	 
	 	 	By:	OHI Asset (PA), LLC,
	 	 	 	the Sole Trustee of each of the Trusts
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer
	 	 	 	 	 
	 	CSE CASABLANCA HOLDINGS LLC
	 	 	 	 	 
	 	 	By:	OHI Asset CSB LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer
	 	 	 	 	 
	 	CSE CASABLANCA HOLDINGS II LLC
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 
	 	 	By:	OHI Asset CSB LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE ALBANY LLC
	 	CSE AMARILLO LLC
	 	CSE AUGUSTA LLC
	 	CSE BEDFORD LLC
	 	CSE CAMBRIDGE REALTY LLC
	 	CSE CANTON LLC
	 	CSE CEDAR RAPIDS LLC
	 	CSE CHELMSFORD LLC
	 	CSE CHESTERTON LLC
	 	CSE CLAREMONT LLC
	 	CSE DENVER LLC
	 	CSE DOUGLAS LLC
	 	CSE ELKTON REALTY LLC
	 	CSE FORT WAYNE LLC
	 	CSE FRANKSTON LLC
	 	CSE GEORGETOWN LLC
	 	CSE GREEN BAY LLC
	 	CSE HILLIARD LLC
	 	CSE HUNTSVILLE LLC
	 	CSE INDIANAPOLIS – CONTINENTAL LLC
	 	CSE INDIANAPOLIS – GREENBRIAR LLC
	 	CSE JEFFERSONVILLE – HILLCREST CENTER LLC
	 	CSE JEFFERSONVILLE – JENNINGS HOUSE LLC
	 	CSE KINGSPORT LLC
	 	CSE LAKE CITY LLC
	 	CSE LAKE WORTH LLC
	 	CSE LAKEWOOD LLC
	 	CSE LAS VEGAS LLC
	 	CSE LAWRENCEBURG LLC
	 	CSE LEXINGTON PARK REALTY LLC
	 	CSE LIGONIER LLC
	 	CSE LIVE OAK LLC
	 	CSE LOWELL LLC
	 	CSE MOBILE LLC
	 	CSE MOORE LLC
	 	CSE NORTH CAROLINA HOLDINGS I LLC
	 	CSE NORTH CAROLINA HOLDINGS II LLC
	 	CSE OMRO LLC
	 	CSE ORANGE PARK LLC
	 	CSE ORLANDO – PINAR TERRACE MANOR LLC
	 	CSE ORLANDO – TERRA VISTA REHAB LLC
	 	CSE PIGGOTT LLC
	 	CSE PILOT POINT LLC
	 	CSE PONCA CITY LLC
	 	CSE PORT ST. LUCIE LLC
	 	CSE RICHMOND LLC
	 	CSE SAFFORD LLC
	 	CSE SALINA LLC
	 	CSE SEMINOLE LLC
	 	CSE SHAWNEE LLC
	 	CSE STILLWATER LLC
	 	CSE TAYLORSVILLE LLC

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE TEXAS CITY LLC
	 	CSE UPLAND LLC
	 	CSE WINTER HAVEN LLC
	 	CSE YORKTOWN LLC

 

	 	By:	CSE Casablanca Holdings II LLC,
	 	 	the Sole Member of each of the companies
	 	 	 	 
	 	By:	CSE Casablanca Holdings LLC,
	 	 	the Sole Member of such company
	 	 	 	 
	 	By:	OHI Asset CSB LLC,
	 	 	the Sole Member of such company
	 	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company
	 	 	 	 

	 	 	By:	/s/ Daniel J. Booth

	 	 	Name: 	Daniel J. Booth
	 	 	Title: 	Chief Operating Officer

 

	 	CSE LEXINGTON PARK LLC
	 	 	 	 	 
	 	 	By:	CSE Lexington Park Realty LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings II LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	OHI Asset CSB LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE CAMBRIDGE LLC
	 	 	 	 	 
	 	 	By:	CSE Cambridge Realty LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings II LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	OHI Asset CSB LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer
	 	 	 	 	 
	 	CSE ELKTON LLC
	 	 	 	 	 
	 	 	By:	CSE Elkton Realty LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings II LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	CSE Casablanca Holdings LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	OHI Asset CSB LLC,
	 	 	 	the Sole Member of such company
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	the Sole Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title: 	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE ARDEN L.P.
	 	CSE KING L.P.
	 	CSE KNIGHTDALE L.P.
	 	CSE LENOIR L.P.
	 	CSE WALNUT COVE L.P.
	 	CSE WOODFIN L.P.

 

	 	By:	CSE North Carolina Holdings I LLC,
	 	 	the General Partner of each limited partnership
	 	 	 	 
	 	By:	CSE Casablanca Holdings II LLC,
	 	 	the Sole Member of such company
	 	 	 	 
	 	By:	CSE Casablanca Holdings LLC,
	 	 	the Sole Member of such company
	 	 	 	 
	 	By:	OHI Asset CSB LLC,
	 	 	the Sole Member of such company
	 	 	 
	 	By:	Omega Healthcare Investors, Inc.,
	 	 	the Sole Member of such company
	 	 	 	 

	 	 	By:	/s/ Daniel J. Booth

	 	 	Name: 	Daniel J. Booth
	 	 	Title: 	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	CSE PENNSYLVANIA HOLDINGS
	 	 	 
	 	 	By:	OHI Asset (PA), LLC,
	 	 	 	the Managing Trustee of the Trust
	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	a Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title:	Chief Operating Officer
	 	 	 	 	 
	 	 	By:	OHI Asset CSE-E, LLC,
	 	 	 	the Sole Beneficial Owner of the Trust
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	a Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title:	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

 

	 	CSE CENTENNIAL VILLAGE
	 	 	 	 	 
	 	 	By:	OHI Asset (PA), LLC,
	 	 	 	the Managing Trustee of the Trust
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	a Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title:	Chief Operating Officer

	 	 	 	 	 
	 	 	By:	CSE Pennsylvania Holdings,
	 	 	 	the Sole Beneficial Owner of the Trust

 

	 	 	By:	OHI Asset (PA), LLC,
	 	 	 the Managing Trustee of such trust
	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	a Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title:	Chief Operating Officer
	 	 	 	 	 

	 	 	By:	OHI Asset CSE-E, LLC,
	 	 	 the Sole Beneficial Owner of such trust
	 	 	 	 	 
	 	 	By:	Omega Healthcare Investors, Inc.,
	 	 	 	a Member of such company
	 	 	 	 	 

	 	 	 	By:	/s/ Daniel J. Booth

	 	 	 	Name: 	Daniel J. Booth
	 	 	 	Title:	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	OHIMA, INC.
	 	CANTON HEALTH CARE LAND, INC.
	 	DIXON HEALTH CARE CENTER, INC.
	 	HUTTON I LAND, INC.
	 	HUTTON II LAND, INC.
	 	HUTTON III LAND, INC.
	 	LEATHERMAN PARTNERSHIP 89-1, INC.
	 	LEATHERMAN PARTNERSHIP 89-2, INC.
	 	LEATHERMAN 90-1, INC.
	 	MERIDIAN ARMS LAND, INC.
	 	ORANGE VILLAGE CARE CENTER, INC.
	 	ST. MARY’S PROPERTIES, INC.
	 	ARIZONA LESSOR – INFINIA, INC.
	 	BAYSIDE STREET II, INC.
	 	COLORADO LESSOR – CONIFER, INC.
	 	COPLEY HEALTH CENTER, INC.
	 	FLORIDA LESSOR – EMERALD, INC.
	 	FLORIDA LESSOR – MEADOWVIEW, INC.
	 	GEORGIA LESSOR – BONTERRA/PARKVIEW, INC.
	 	HANOVER HOUSE, INC.
	 	INDIANA LESSOR – WELLINGTON MANOR, INC.
	 	LONG TERM CARE ASSOCIATES – TEXAS, INC.
	 	OHI (CONNECTICUT), INC.
	 	OHI (FLORIDA), INC.
	 	OHI (ILLINOIS), INC.
	 	OHI (INDIANA), INC.
	 	OHI (IOWA), INC.
	 	PAVILLION NORTH PARTNERS, INC.
	 	PAVILLION NURSING CENTER NORTH, INC.
	 	STERLING ACQUISITION CORP.
	 	THE SUBURBAN PAVILION, INC.
	 	TEXAS LESSOR – STONEGATE, LIMITED, INC.
	 	TEXAS LESSOR – STONEGATE GP, INC.
	 	WASHINGTON LESSOR – SILVERDALE, INC.
	 	OMEGA TRS I, INC.
	 	BAYSIDE ARIZONA HEALTHCARE SECOND, INC.
	 	BAYSIDE COLORADO HEALTHCARE ASSOCIATES, INC.
	 	BAYSIDE STREET, INC.
	 	DIXIE WHITE HOUSE NURSING HOME, INC.
	 	FLORIDA LESSOR – CRYSTAL SPRINGS, INC.
	 	FLORIDA LESSOR – LAKELAND, INC.
	 	INDIANA LESSOR – JEFFERSONVILLE, INC.
	 	JEFFERSON CLARK, INC.
	 	LONG TERM CARE – MICHIGAN, INC.

  

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	 	LONG TERM CARE – NORTH CAROLINA, INC.
	 	LONG TERM CARE ASSOCIATES – ILLINOIS, INC.
	 	LONG TERM CARE ASSOCIATES – INDIANA, INC.
	 	OCEAN SPRINGS NURSING HOME, INC.
	 	OHI (KANSAS), INC.
	 	OHI ASSET (SMS) LENDER, INC.
	 	OHI OF TEXAS, INC.
	 	OHI SUNSHINE, INC.
	 	OHI TENNESSEE, INC.
	 	OMEGA (KANSAS), INC.
	 	OS LEASING COMPANY
	 	PENSACOLA REAL ESTATE HOLDINGS I, INC.
	 	PENSACOLA REAL ESTATE HOLDINGS II, INC.
	 	PENSACOLA REAL ESTATE HOLDINGS III, INC.
	 	PENSACOLA REAL ESTATE HOLDINGS IV, INC.
	 	PENSACOLA REAL ESTATE HOLDINGS V, INC.
	 	SKILLED NURSING – HICKSVILLE, INC.
	 	SKYLER BOYINGTON, INC.
	 	SKYLER FLORIDA, INC.
	 	SKYLER PENSACOLA, INC.
	 	STERLING ACQUISITION CORP. II
	 	TEXAS LESSOR – TREEMONT, INC.

 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer
	 	 	 
	 	CSE PINE VIEW LLC
	 	 	 
	 	By:	OHI Asset HUD Delta, LLC,
	 	 	the Sole Member of such company
	 	 	 

	 	By:	/s/ Daniel J. Booth

	 	Name: 	Daniel J. Booth
	 	Title:	Chief Operating Officer

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

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

	 	By:	/s/ Angela Lau

	 	Name:	 Angela Lau

	 	Title:	  Vice President

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 	 

    

  

	LENDERS:	bank of america, n.a., as a Lender
	 	 	 

	 	By:	/s/ Yinghua Zhang

	 	Name:	 Yinghua Zhang

	 	Title:	  Vice President

 

    	 	OMEGA HEALTHCARE INVESTORS, INC.
CREDIT AGREEMENT

    	 

    

 

 

SCHEDULE 2.01

 

LENDERS
AND COMMITMENTS

 

	Lender	 	Term Loan 

Commitment	 	 	Term Loan 

Commitment
 Percentage	 
	Bank of America, N.A.	 	$	200,000,000.00	 	 	 	100.000000000	%
	Total:	 	$	200,000,000.00	 	 	 	100.000000000	%

 

    	 

    	 

     

SCHEDULE 5.11

 

CORPORATE STRUCTURE; CAPITAL STOCK

 

 

ORGANIZATIONAL CHART OF OMEGA HEALTHCARE INVESTORS, INC.
and SUBSIDIARIES AS OF DECEMBER 26, 2013 Omega Healthcare Investors, Inc. 2 38 - 3041398 I: MD Q: AL, AR, CO, FL, ID, IN, KY, LA,
MA, MI, MO, NC, OH, PA, RI, TN, TX, WA Bayside Street II, Inc. 1 38 - 3519969 I: DE (#9) Bayside Street, Inc. 38 - 3160026 I: MD
(#10) Jefferson Clark, Inc. 38 - 3433390 I: MD (#62) Bayside Colorado Healthcare Associates, Inc. 38 - 3517837 I: CO (#6) OHI (Iowa),
Inc. 38 - 3377918 I: IA Q: MD (#81) OHI (Kansas), Inc. 48 - 1156047 I: KS (#82) OHI of Texas, Inc. 38 - 3506136 I: MD Q: TX (#113)
OHIMA, Inc. 06 - 1552118 I: MA (#116) OHI (Indiana), Inc. 38 - 3568359 I: IN Q: OH (#80) OS Leasing Company 38 - 3221641 I: KY
(#120) Sterling Acquisition Corp. 38 - 3207992 I: KY; Q: AL, AR, FL, OH, TN, TX, WV (#136) Sterling Acquisition Corp II 38 - 3207991
I: KY (#137) NRS Ventures, L.L.C. 38 - 4236118 I: DE Q: AL, FL, GA, KY, TN (#75) OHI (Connecticut), Inc. 06 - 1552120 I: CT Q:
NH, VT, WV (#77) OHI (Florida), Inc. 65 - 0523484 I: FL (#78) OHI (Illinois), Inc. 37 - 1332375 I: IL Q: IN (#79) Delta Investors
II, LLC 54 - 2112456 I: MD Q: CA, NC, OH, WA, WV (#44) OHI Sunshine, Inc. 82 - 0558471 I: FL (#114) Long Term Care Associates -
Illinois, Inc. 38 - 3592159 I: IL (#70) OMEGA (Kansas), Inc. 32 - 0142534 I: KS (#117) Delta Investors I, LLC 54 - 2112455 I: MD
Q: CA, ID, MA, OH, WV (#43) 100% 1. Omega Healthcare Investors, Inc. (“OHI”) holds a 100% beneficial interest in Bayside
Street II, Inc. through non - voting pref erred stock ownership (228 shares). H. F. Family Limited Partnership (Fred J. Fechheimer)
holds 100% of the voting common stock(12 shares). Bayside II has ma de a QRS election. 2. OHI owns 100% of stock or other equity
interest of all lower tier Subsidiaries. 100% Page 1 of 5 ( #858203) Long Term Care Associates - Texas, Inc. 38 - 3592142 I: TX
(#72) Long Term Care Associates - Indiana, Inc. 38 - 3592160 I: IN (#71) Skilled Nursing - Hicksville, Inc. 38 - 3592172 I: OH
(#131) 100% Long Term Care - North Carolina, Inc. 04 - 3833335 I: NC (#69) Long Term Care - Michigan, Inc. 04 - 3833330 I: MI (#68)
100% 100% Colorado Lessor - Conifer, Inc. 32 - 0008069 I: MD; Q: CO (#16) Indiana Lessor - Wellington Manor, Inc. 32 - 0008064
I: MD; Q: IN (#61) Texas Lessor - Stonegate Limited, Inc. 32 - 0008072 I: MD (#140) Texas Lessor - Stonegate GP, Inc. 32 - 0008071
I: MD; Q: TX (#139) Texas Lessor – Stonegate, LP 32 - 0008073 I: MD; Q: TX (#141) 99.99% (LP) .01% (GP) Arizona Lessor -
Infinia, Inc. 32 - 0008074 I: MD; Q: AZ (#1) OHI Asset (SMS) Lender, Inc. 33 - 1067711 I: MD (#99) Florida Lessor - Lakeland, Inc.
22 - 3872564 I: MD; Q: FL (#49) Indiana Lessor - Jeffersonville, Inc. 22 - 3872575 I: MD; Q: IN (#60) Georgia Lessor – Bonterrra/
Parkview, Inc. 16 - 1650494 I: MD; Q: GA (#52) Texas Lessor – Treemont, Inc. 16 - 1650495 I: MD; Q: TX (#142) OHI Asset,
LLC 32 - 0079270 I: DE Q: AL, NC, TN, WA (#112) OHI Asset (FL), LLC 13 - 4225158 I: DE Q: FL, NM (#87) OHI Asset (ID), LLC 04 -
3759931 I: DE Q: ID (#88) OHI Asset (IN), LLC 04 - 3759933 I: DE Q: IN (#90) OHI Asset (MI/NC), LLC 04 - 3759928 I: DE Q: MI, NC
(#92) OHI Asset (MO), LLC 04 - 3759939 I: DE Q: MO (#93) OHI Asset (OH), LLC 04 - 3759938 I: DE; PA Q: OH (#96) OHI Asset (TX),
LLC 04 - 3759927 I: DE Q: TX (#100) 100% OHI Asset (CA), LLC 04 - 3759925 I: DE Q: CA (#83) Washington Lessor – Silverdale,
Inc. 56 - 2386887 I: MD; Q: WA (#144) Florida Lessor - Emerald, Inc. 22 - 3872569 I: MD; Q: FL (#48) Florida Lessor - Crystal Springs,
Inc. 75 - 3116533 I: MD; Q: FL (#47) Florida Lessor – Meadowview, Inc. 56 - 2398721 I: MD Q: FL (#50) OHI Asset Essex (OH),
LLC 83 - 0379722 I: DE (#104) I = Incorporated; Q = Qualified; (##) = Cross - reference with Alphabetical List in Doc. #6061737
Business Address for all Subsidiaries: 200 International Circle, Suite 3500 Hunt Valley, Maryland 21030 - 1394 OHI Asset II (CA),
LLC 20 - 1000879 I: DE Q: CA (#107) OHI Asset (PA) Trust 54 - 6643405 I: MD Q: OH, PA, WV (#97) OHI Asset (OH) New Philadelphia,
LLC 51 - 0529741 I: DE Q: OH (#95) OHI Asset (OH) Lender, LLC 51 - 0529744 I: DE (#94) OHI Asset (PA), LLC 90 - 0137715 I: DE;
Q: OH, PA, WV (#98) Wilcare, LLC 26 - 0110550 I: OH (#147) Colonial Gardens, LLC 26 - 0110549 I: OH (#15) Dixon Health Care Center,
Inc. 34 - 1509772 I: OH (#46) Hutton II Land, Inc. 20 - 1914470 I: OH (#58) Leatherman Partnership 89 - 2, Inc. 34 - 1656491 I:
OH (#67) Leatherman Partnership 89 - 1, Inc. 34 - 1656489 I: OH (#66) Leatherman 90 - 1, Inc. 20 - 1914625 I: OH (#65) St. Mary’s
Properties, Inc. 20 - 1914905 I: OH (#135) Orange Village Care Center, Inc. 34 - 1321728 I: OH (#119) Meridian Arms Land, Inc.
20 - 1914864 I: OH (#73) Canton Health Care Land, Inc. 20 - 1914579 I: OH (#11) Hutton I Land, Inc. 20 - 1914403 I: OH (#57) Hutton
III Land, Inc. 20 - 1914529 I: OH (#59) 100% OHI Asset II (PA) Trust 84 - 6390330 I: MD Q:PA (#109) 100% Pavillion North Partners,
Inc. 20 - 2597892 I: PA (#123) Pavillion Nursing Center North, Inc. 25 - 1222652 I:PA (#125) Copley Health Center, Inc. 34 - 1473010
I:OH (#17) Hanover House, Inc. 34 - 1125264 I:OH (#54) House of Hanover, Ltd. 34 - 6691713 I:OH (#56) The Suburban Pavilion, Inc.
34 - 1035431 I:OH (#143) Pavillion North, LLP 75 - 3202956 I:PA (#124) 40% (General Partner) 60% (Limited Partner) OHI Asset III
(PA) Trust 84 - 6390331 I: MD Q: OH, PA (#110) 100% OHI Asset (CT) Lender, LLC 75 - 3205111 I: DE Q: NH, RI, MA (#86) OHI Asset
(IL), LLC 14 - 1951802 I: DE Q: IL (#89) OHI Asset (CO), LLC 84 - 1706510 I: DE Q: CO, ID (#84) OHI Asset (TX) Paris, LLC 26 -
1724445 I: DE Q: TX (#101) OHI Acquisition Co I, LLC 27 - 0492836 I: DE (#76) OHI Asset (CT) DIP, LLC 27 - 0492959 I: DE (#85)
OHI Asset II (FL), LLC 27 - 1813906 I: DE; Q: FL (#108) 100% Omega TRS I, Inc. 38 - 3587540 I: MD; Q: LA, TX (#118) OHI Asset (LA),
LLC 04 - 3759935 I: DE Q: LA, TX (#91) 100% 99% 1% OHI Asset (MD), LLC 45 - 2611748 I:DE (#260) 100%

    	 

    	 

    

ORGANIZATIONAL CHART OF OMEGA HEALTHCARE INVESTORS, INC.
and SUBSIDIARIES (Continued) Omega Healthcare Investors, Inc. 2 38 - 3041398 I: MD Q: AL, AR, CO, FL, ID, IN, KY, LA, MA, MI, MO,
NC, OH, PA, RI, TN, TX, WA OHI Asset CSE - U, LLC 27 - 1675768 I: DE (#103) Carnegie Gardens LLC 20 - 2442381 I: DE; Q: FL (#12)
100% Page 2 of 5 (#858203) CSE Denver Iliff LLC 20 - 8037772 I: DE; Q: CO (#25) CSE Fairhaven LLC 20 - 8281491 I: DE; Q: MA (#26)
CSE Marianna Holdings LLC 20 - 1411422 I: DE; Q: FL (#31) CSE Texarkana LLC 20 - 5862880 I: DE; Q: TX (#37) CSE West Point LLC
20 - 5887119 I: DE; Q: MS (#39) CSE Whitehouse LLC 20 - 8294979 I: DE; Q: OH (#40) Greenbough, LLC 27 - 0258266 I: DE; Q: MS (#53)
Panama City Nursing Center LLC 20 - 2568041 I: DE; Q: FL (#121) Skyler Maitland LLC 20 - 3888672 I: DE; Q: FL (#133) Suwanee, LLC
20 - 5223977 I: DE; Q: FL (#138) Florida Real Estate Company, LLC 20 - 1458431 I: FL (#51) LAD I Real Estate Company, LLC 20 -
1454154 I: DE; Q: FL (#63) OHI Asset CSE - E, LLC 27 - 1675861 I: DE (#102) CSE Corpus North LLC 20 - 5186415 I: DE; Q: TX (#23)
CSE Jacinto City LLC 20 - 5186519 I: DE; Q: TX (#28) CSE Kerrville LLC 20 - 8684872 I: DE; Q: TX (#30) CSE Ripon LLC 26 - 0480886
I: DE; Q: WI (#35) CSE Spring Branch LLC 20 - 5186484 I: DE; Q: TX (#36) CSE The Village LLC 20 - 5186550 I: DE; Q: TX (#38) CSE
Williamsport LLC 26 - 0480953 I: DE; Q: IN (#41) Desert Lane LLC 20 - 3098022 I: DE; Q: NV (#45) North Las Vegas LLC 20 - 3098036
I: DE; Q: NV (#74) CSE Pennsylvania Holdings 20 - 6974946 I: DE (#33) 2. OHI owns 100% of stock or other equity interest of all
lower tier Subsidiaries. OHI Asset IV (PA) Silver Lake Trust 80 - 6146794 I: MD; Q: PA (#111) CSE Centennial Village 20 - 6974959
I: DE; Q: PA (#22) OHI Asset CSB LLC 27 - 2820083 I: DE (#148) CSE Casablanca Holdings LLC 20 - 8724466 I: DE (#157) CSE Casablanca
Holdings II LLC 26 - 0595183 I: DE (#158) CSE Albany LLC 20 - 5885886 I: DE Q: KY (#149) CSE Amarillo LLC 20 - 5862752 I: DE Q:
TX (#150) 100% CSE Augusta LLC 20 - 5885921 I: DE Q: KY (#152) CSE Canton LLC 20 - 5887312 I: DE Q: OH (#156) CSE Cedar Rapids
LLC 20 - 5884941 I: DE Q: IA (#159) CSE Chelmsford LLC 20 - 5920451 I: DE Q: MA (#160) CSE Chesterton LLC 20 - 5885195 I: DE Q:
IN (#161) CSE Claremont LLC 20 - 5883891 I: DE Q: CA (#162) CSE Denver LLC 20 - 5884311 I: DE Q: CO (#163) CSE Douglas LLC 20 -
5883761 I: DE Q: AZ (#164) 100% CSE Bedford LLC 20 - 5886082 I: DE Q: KY (#153) 100% 100% 100% 100% 100% 100% 100% CSE North Carolina
Holdings I LLC 20 - 5888397 I: DE (#195) CSE North Carolina Holdings II LLC 20 - 5888430 I: DE (#196) 1% (GP) 99% (LP) CSE Arden
L.P. 20 - 5888680 I: DE Q: NC (#151) CSE King L.P. 20 - 5888725 I: DE Q: NC (#178) CSE Knightdale L.P. 20 - 5888653 I: DE Q: NC
(#180) CSE Lenoir L.P. 20 - 5888528 I: DE Q: NC (#186) CSE Walnut Cove L.P. 20 - 5888502 I: DE Q: NC (#214) CSE Woodfin L.P. 20
- 5888619 I: DE Q: NC (#216) CSE Fort Wayne LLC 20 - 5885125 I: DE Q: IN (#168) CSE Frankston LLC 20 - 5862947 I: DE Q: TX (#169)
CSE Georgetown LLC 20 - 5886126 I: DE Q: KY (#170) CSE Green Bay LLC 20 - 5888029 I: DE Q: WI (#171) CSE Hilliard LLC 20 - 5887347
I: DE Q: OH (#172) CSE Huntsville LLC 20 - 5887764 I: DE Q: TN (#173) CSE Indianapolis - Continental LLC 20 - 5885046 I: DE Q:
IN (#174) CSE Indianapolis - Greenbriar LLC 20 - 5885096 I: DE Q: IN (#175) CSE Jeffersonville - Hillcrest Center LLC 20 - 5885261
I: DE Q: IN (#176) CSE Jeffersonville - Jennings House LLC 20 - 5885346 I: DE Q: IN (#177) CSE Mobile LLC 20 - 5883572 I: DE Q:
AL (#193) CSE Kingsport LLC 20 - 5887736 I: DE Q: TN (#179) CSE Lake City LLC 20 - 5863259 I: DE Q: FL (#181) CSE Lake Worth LLC
20 - 5863173 I: DE Q: FL (#182) CSE Lakewood LLC 20 - 5884352 I: DE Q: CO (#183) CSE Las Vegas LLC 20 - 5887216 I: DE Q: NM (#184)
CSE Lawrenceburg LLC 20 - 5887802 I: DE Q: TN (#185) CSE Ligonier LLC 20 - 5885484 I: DE Q: IN (#189) CSE Live Oak LLC 20 - 5863086
I: DE Q: FL (#190) CSE Lowell LLC 20 - 5885381 I: DE Q: IN (#192) CSE Moore LLC 20 - 5887574 I: DE Q: OK (#194) CSE Lexington Park
LLC 20 - 5886951 I: DE Q: MD (#187) CSE Omro LLC 20 - 5887998 I: DE Q: WI (#197) CSE Orange Park LLC 20 - 5863371 I: DE Q: FL (#198)
CSE Orlando - Pinar Terrace Manor LLC 20 - 5863043 I: DE Q: FL (#199) CSE Orlando - Terra Vista Rehab LLC 20 - 5863223 I: DE Q:
FL (#200) CSE Piggott LLC 20 - 5883659 I: DE Q: AR (#201) CSE Pilot Point LLC 20 - 5862827 I: DE Q: TX (#202) CSE Ponca City LLC
20 - 5887495 I: DE Q: OK (#203) CSE Port St. Lucie LLC 20 - 5863294 I: DE Q: FL (#204) CSE Richmond LLC 20 - 5885427 I: DE Q: IN
(#205) CSE Safford LLC 20 - 5883807 I: DE Q: AZ (#206) CSE Salina LLC 20 - 5885669 I: DE Q: KS (#207) CSE Seminole LLC 20 - 5887615
I: DE Q: OK (#208) CSE Shawnee LLC 20 - 5887524 I: DE Q: OK (#209) CSE Stillwater LLC 20 - 5887548 I: DE Q: OK (#210) CSE Taylorsville
LLC 20 - 5886196 I: DE Q: KY (#211) CSE Texas City LLC 20 - 5862791 I: DE Q: TX (#212) CSE Upland LLC 20 - 5891148 I: DE Q: IN
(#213) CSE Winter Haven LLC 20 - 5863327 I: DE Q: FL (#215) CSE Yorktown LLC 20 - 5885163 I: DE Q: IN (#217) CSE Cambridge Realty
LLC 20 - 5959318 I: DE Q: MD (#155) CSE Elkton Realty LLC 20 - 5959253 I: DE Q: MD (#167) CSE Lexington Park Realty LLC 20 - 5959280
I: DE Q: MD (#188) CSE Cambridge LLC 20 - 5886976 I: DE Q: MD (#154) CSE Elkton LLC 20 - 5887006 I: DE Q: MD (#166) 100% 100% 100%
OHI Tennessee, Inc. 38 - 3509157 I: MD; Q: TN (#115) 100% 100% CSE Memphis LLC 20 - 8295130 I: DE; Q: TN (#32) CSE Ripley LLC 20
- 8295238 I: DE; Q: TN (#34) CSE Blountville LLC 20 - 8295288 I: DE; Q: TN (#19) CSE Bolivar LLC 20 - 8295024 I: DE; Q: TN (#20)
CSE Huntingdon LLC 20 - 8295191 I: DE; Q: TN (#27) CSE Jefferson City LLC 20 - 8295101 I: DE; Q: TN (#29) 100% CSE Camden LLC 20
- 8295066 I: DE; Q:TN (#21) 100%

    	 

    	 

    

ORGANIZATIONAL CHART OF OMEGA HEALTHCARE INVESTORS, INC.
and SUBSIDIARIES (Continued) Omega Healthcare Investors, Inc. 2 38 - 3041398 I: MD Q: AL, AR, CO, FL, ID, IN, KY, LA, MA, MI, MO,
NC, OH, PA, RI, TN, TX, WA OHI Asset HUD H - F, LLC 27 - 1894893 I: DE (#106) CHR Bartow LLC 26 - 3708257 I: DE; Q: FL (#218) 100%
Page 3 of 5 (#858203) CHR Boca Raton LLC 26 - 3709390 I: DE; Q: FL (#219) CHR Bradenton LLC 26 - 3710605 I: DE; Q: FL (#220) CHR
Cape Coral LLC 26 - 3710052 I: DE; Q: FL (#221) CHR Clearwater Highland LLC 26 - 3709760 I: DE; Q: FL (#222) CHR Clearwater LLC
26 - 3708420 I: DE; Q: FL (#223) CHR Deland East LLC 26 - 3709095 I: DE; Q: FL (#224) CHR Deland West LLC 26 - 3709165 I: DE; Q:
FL (#225) CHR Fort Myers LLC 26 - 3710399 I: DE; Q: FL (#226) CHR Fort Walton Beach LLC 26 - 3708663 I: DE; Q: FL (#227) CHR Gulfport
LLC 26 - 3710452 I: DE; Q: FL (#228) CHR Hudson LLC 26 - 3709991 I: DE; Q: FL (#229) CHR Lake Wales LLC 26 - 3708893 I: DE; Q:
FL (#230) CHR Lakeland LLC 26 - 3708735 I: DE; Q: FL (#231) CHR Panama City LLC 26 - 3708524 I: DE; Q: FL (#232) CHR Pompano Beach
Broward LLC 26 - 3710220 I: DE; Q: FL (#233) CHR Pompano Beach LLC 26 - 3709856 I: DE; Q: FL (#234) CHR Sanford LLC 26 - 3709701
I: DE; Q: FL (#235) CHR Sarasota LLC 26 - 3710347 I: DE; Q: FL (#236) CHR Spring Hill LLC 26 - 3709633 I: DE; Q: FL (#237) CHR
St. Pete Abbey LLC 26 - 3709327 I: DE; Q: FL (#238) 2. OHI owns 100% of stock or other equity interest of all lower tier Subsidiaries.
CHR St. Pete Bay LLC 26 - 3709236 I: DE; Q: FL (#239) 100% CHR St Pete Egret LLC 26 - 3708588 I: DE; Q: FL (#240) CHR Tampa Carrollwood
LLC 26 - 3709502 I: DE; Q: FL (#241) CHR Tampa LLC 26 - 3710161 I: DE; Q: FL (#242) CHR Tarpon Springs LLC 26 - 3708823 I: DE;
Q: FL (#243) CHR Titusville LLC 26 - 3709919 I: DE; Q: FL (#244) CHR West Palm Beach LLC 26 - 3710287 I: DE; Q: FL (#245) 100%
Pensacola Real Estate Holdings I, Inc. 59 - 3667935 I: FL (#249) Pensacola Real Estate Holdings II, Inc. 59 - 3667937 I: FL (#250)
Pensacola Real Estate Holdings III, Inc. 59 - 3667939 I: FL (#251) Pensacola Real Estate Holdings IV, Inc. 59 - 3667940 I: FL (#252)
Pensacola Real Estate Holdings V, Inc. 59 - 3667941 I: FL (#253) Skyler Boyington, Inc. 42 - 1572543 I: MS (#254) OHI Asset HUD
Delta, LLC 27 - 1895030 I: DE (#105) CSE Pine View LLC 20 - 5398686 I: DE; Q: MS (#246) Dixie White House Nursing Home, Inc. 59
- 3738671 I: MS (#247) Ocean Springs Nursing Home, Inc. 58 - 2635823 I: MS (#248) Skyler Florida, Inc. 64 - 0821299 I: MS; Q: FL
(#255) Skyler Pensacola, Inc. 59 - 3561064 I: FL (#256) 100% 100% 100% OHI Asset (MI), LLC 27 - 3378345 I: DE (#257) OHI Asset
(FL) Lender, LLC 27 - 4450390 I: DE (#258) OHI Asset HUD WO, LLC 45 - 2379675 I: DE (#259) PV Realty – Clinton, LLC 26 -
4389743 I: MD (#262) PV Realty – Kensington, LLC 26 - 4389837 I: MD (#263) PV Realty – Willow Tree, LLC 27 - 0328038
I: MD; Q: WV (#264) OHI Asset HUD CFG, LLC 45 - 3662151 I: DE (#261) 2701 Twin Rivers Drive, LLC 61 - 1573466 I: AR (#266) 228
Pointer Trail West, LLC 61 - 1573453 I: AR (#267) 3600 Richards Road, LLC 61 - 1573467 I: AR (#268) 1101 Waterwell Road, LLC 61
- 1573458 I: AR (#269) 1040 Wedding Ford Road, LLC 61 - 1573457 I: AR (#270) 1194 North Chester Street, LLC 61 - 1573460 I: AR
(#271) 1149 & 1151 West New Hope Road, LLC 61 - 1573459 I: AR (#272) 1401 Park Avenue, LLC 61 - 1573464 I: AR (#273) 115 Orendorff
Avenue, LLC 61 - 1573450 I: AR (#274) 202 Tims Avenue, LLC 61 - 1573452 I: AR (#275) 900 Magnolia Road SW, LLC 61 - 1573456 I:
AR (#276) 700 Mark Drive, LLC 61 - 1573454 I: AR (#277) 1200 Ely Street Holdings Co. LLC 26 - 3524594 I: MI (#278) 2425 Teller
Avenue, LLC 20 - 5672217 I: CO (#279) CFG 2115 Woodstock Place, LLC 26 - 1123970 I: DE (#280) 42235 County Road Holdings Co. LLC
83 - 0500167 I: MI (#281) 48 High Point Road, LLC 27 - 2498824 I: MD (#282) PV Realty – Holly Hill, LLC 74 - 3244463 I: MD
(#265) 100% 100% 100% SLC Property Investors, LLC 32 - 0265175 I: DE (#283) 100% OHI Asset (MI) Heather Hills, LLC 46 - 1515395
I: DE; Q: MI (#317) OHI Asset (IN) Wabash, LLC 38 - 3879151 I: DE (#285) OHI Asset (IN) Westfield, LLC 32 - 0381277 I: DE (#286)
OHI Asset (IN) Greensburg, LLC 38 - 3879137 I: DE (#287) OHI Asset (IN) Indianapolis, LLC 36 - 4736441 I: DE (#288) 100% 100%

    	 

    	 

    

OHI Asset (IN) Elkhart, LLC 46 - 1035197 I: DE; Q: IN
(#298) OHI Asset (IN) Clarksville, LLC 46 - 1011127 I: DE; Q: IN (#299) OHI Asset (IN) Noblesville, LLC 46 - 1103366 I: DE; Q:
IN (#300) OHI Asset (IN) Rosewalk, LLC 46 - 1116285 I: DE; Q: IN (#301) OHI Asset (IN) Lafayette, LLC 46 - 1085161 I: DE; Q: IN
(#302) OHI Asset (IN) Spring Mill, LLC 46 - 1120573 I: DE; Q: IN (#303) OHI Asset (IN) Terre Haute, LLC 46 - 1140102 I: DE; Q:
IN (#304) OHI Asset (IN) Zionsville, LLC 46 - 1152307 I: DE; Q: IN (#305) OHI Asset HUD SF CA, LLC 46 - 1251365 I: DE (#306) OHI
Asset (TX) Hondo, LLC 46 - 1346058 I: DE; Q: TX (#307) OHI Asset (IN) American Village, LLC 46 - 0985915 I: DE; Q: IN (#289) OHI
Asset (IN) Beech Grove, LLC 46 - 1000956 I: DE; Q: IN (#290) OHI Asset (IN) Eagle Valley, LLC 46 - 1021612 I: DE; Q: IN (291) OHI
Asset (IN) Anderson, LLC 46 - 0989235 I: DE; Q: IN (#292) OHI Asset (IN) Forest Creek, LLC 46 - 1040435 I: DE; Q: IN (#293) OHI
Asset (IN) Franklin, LLC 46 - 1062818 I: DE; Q: IN (#294) OHI Asset (IN) Fort Wayne, LLC 46 - 1050897 I: DE; Q: IN (#295) OHI Asset
(IN) Monticello, LLC 46 - 1090601 I: DE; Q: IN (#296) OHI Asset (IN) Kokomo, LLC 46 - 1071289 I: DE; Q: IN (#297) ORGANIZATIONAL
CHART OF OMEGA HEALTHCARE INVESTORS, INC. and SUBSIDIARIES (Continued) Omega Healthcare Investors, Inc. 2 38 - 3041398 I: MD Q:
AL, AR, CO, FL, ID, IN, KY, LA, MA, MI, MO, NC, OH, PA, RI, TN, TX, WA 2. OHI owns 100% of stock or other equity interest of all
lower tier Subsidiaries. Page 4 of 5 (#858203) OHI Asset HUD SF, LLC 80 - 0830116 I: DE (#284) 100% 100% Encanto Senior Care, LLC
20 - 1669755 I: AZ (#308) G&L Gardens, LLC 95 - 4639695 I: AZ (#309) Palm Valley Senior Care, LLC 75 - 3153681 I: AZ (#310)
Ridgecrest Senior Care, LLC 20 - 1998988 I: AZ (#311) 3806 Clayton Road, LLC 90 - 0266403 I: CA (#312) 245 East Wilshire Avenue,
LLC 90 - 0266386 I: CA (#13) 13922 Cerise Avenue, LLC 71 - 0976970 I: CA (#314) 637 East Romie Lane, LLC 90 - 0266404 I: CA (#315)
523 Hayes Lane, LLC 45 - 1777721 I: CA (#316) OHI Asset (IN) Madison, LLC #46 - 1745924 I: DE; Q: IN (#318) OHI Asset (IN) Crown
Point, LLC #46 - 1738072 I: DE; Q: IN (#319) 100% 1628 B Street, LLC 30 - 0482286 I: CA (#320) 2400 Parkside Drive, LLC 30 - 0482288
I: CA (#321) 3232 Artesia Real Estate, LLC 65 - 1232714 I: CA (#322) 11900 East Artesia Boulevard, LLC 90 - 0266391 I: CA (#323)
Golden Hill Real Estate Company, LLC 71 - 0976967 I: CA (#324) OHI Mezz Lender, LLC #46 - 3201249 I: DE (#325) OHI Asset (AR) Sheridan,
LLC #46 - 3739623 I: DE; Q: AR (#334) OHI Asset (AR) Camden, LLC #46 - 3672608 I: DE; Q: AR (#327) OHI Asset (AR) Conway, LLC #61
- 1721332 I: DE; Q: AR (#328) OHI Asset (AR) Des Arc, LLC #46 - 3691025 I: DE; Q: AR (#329) OHI Asset (AR) Hot Springs, LLC #80
- 0951655 I: DE; Q: AR (#330) OHI Asset (AR) Mena, LLC #38 - 3915930 I: DE; Q: AR (#331) OHI Asset (AR) Malvern, LLC #46 - 3719491
I: DE; Q: AR (#332) OHI Asset (AR) Pocahontas, LLC #46 - 3728913 I: DE; Q: AR (#333) OHI Asset (AR) Ash Flat, LLC #46 - 3670959
I: DE; Q: AR (#326) OHI Asset (AR) Walnut Ridge, LLC #46 - 3751920 I: DE; Q: AR (#335) OHI Asset (FL) Lake Placid, LLC #46 - 3827043
I: DE; Q: FL (#337) 100 % OHI Asset (IN) Clinton, LLC #46 - 4095764 I: DE; Q: IN (#338) OHI Asset (IN) Jasper, LLC #46 - 4100999
I: DE; Q: IN (#339) OHI Asset (IN) Salem, LLC #46 - 4111473 I: DE; Q: IN (#340) OHI Asset (IN) Seymour, LLC #46 - 4133715 I: DE;
Q: IN (#341) OHI Asset (AZ) Austin House, LLC #_______________ I: DE (#400) 100%

    	 

    	 

    

OHI Asset (UT) Roy, LLC ____________ I: DE Q: UT (#393)
OHI Asset (TX) Comfort, LLC ____________ I: DE Q: TX (#386) OHI Asset (SC) Marietta, LLC ____________ I: DE Q: SC (#371) ORGANIZATIONAL
CHART OF OMEGA HEALTHCARE INVESTORS, INC. and SUBSIDIARIES (Continued) Omega Healthcare Investors, Inc. 2 38 - 3041398 I: MD Q:
AL, AR, CO, FL, ID, IN, KY, LA, MA, MI, MO, NC, OH, PA, RI, TN, TX, WA Page 5 of 5 (#858203) OHI Asset RO, LLC #90 - 1018980 I:
DE; Q: AR (#336) OHI Asset (MS) Natchez, LLC ____________ I: DE Q: MS (#356) OHI Asset (NC) Wadesboro, LLC ____________ I: DE Q:
NC (#360) OHI Asset (SC) Edgefield, LLC ____________ I: DE Q: SC (#366) OHI Asset (SC) Greenville Laurens, LLC ____________ I:
DE Q: SC (#368) OHI Asset (MS) Picayune, LLC ____________ I: DE Q: MS (#357) OHI Asset (MS) Vicksburg, LLC ____________ I: DE Q:
MS (#358) OHI Asset (MS) Yazoo City, LLC ____________ I: DE Q: MS (#359) OHI Asset (OR) Portland, LLC ____________ I: DE Q: OR
(#361) OHI Asset (SC) Aiken, LLC ____________ I: DE Q: SC (#362) OHI Asset (SC) Anderson, LLC ____________ I: DE Q: SC (#363) OHI
Asset (SC) Easley Anne, LLC ____________ I: DE Q: SC (#364) OHI Asset (SC) Easley Crestview, LLC ____________ I: DE Q: SC (#365)
OHI Asset (SC) Greenville Griffith, LLC ____________ I: DE Q: SC (#367) OHI Asset (SC) Greenville North, LLC ____________ I: DE
Q: SC (#369) OHI Asset (SC) Greer, LLC ____________ I: DE Q: SC (#370) OHI Asset (SC) Piedmont, LLC ____________ I: DE Q: SC (#375)
OHI Asset (TN) Memphis, LLC ____________ I: DE Q: TN (#381) OHI Asset (TX) Bryan, LLC ____________ I: DE Q: TX (#383) OHI Asset
(SC) McCormick, LLC ____________ I: DE Q: SC (#372) OHI Asset (SC) Pickens East Cedar, LLC ____________ I: DE Q: SC (#373) OHI
Asset (SC) Pickens Rosemond, LLC ____________ I: DE Q: SC (#374) OHI Asset (SC) Simpsonville SE Main, LLC ____________ I: DE Q:
SC (#376) OHI Asset (SC) Simpsonville West Broad, LLC ____________ I: DE Q: SC (#377) OHI Asset (SC) Simpsonville West Curtis,
LLC ____________ I: DE Q: SC (#378) OHI Asset (TN) Bartlett, LLC ____________ I: DE Q: TN (#379) OHI Asset (TN) Collierville, LLC
____________ I: DE Q: TN (#380) OHI Asset (TX) Anderson, LLC ____________ I: DE Q: TX (#382) OHI Asset (TX) Burleson, LLC ____________
I: DE Q: TX (#384) OHI Asset (TX) College Station, LLC ____________ I: DE Q: TX (#385) OHI Asset (ID) Midland, LLC 46 - 4279515
I: DE Q: ID (#345) OHI Asset (MS) Corinth, LLC 46 - 4351222 I: DE Q: (MS) #351) OHI Asset (MS) Grenada, LLC 46 - 4376223 I: DE
Q: MS (#353) OHI Asset (GA) Moultrie, LLC 46 - 4254981 I: DE Q: GA (#342) OHI Asset (GA) Snellville, LLC 46 - 4259685 I: DE Q:
GA (#343) OHI Asset (ID) Holly, LLC 46 - 4268973 I: DE Q: ID (#344) OHI Asset (IN) Connersville, LLC 46 - 4289202 I: DE Q: IN (#346)
OHI Asset (MS) Byhalia, LLC 46 - 4298734 I: DE Q: MS (#347) OHI Asset (MS) Cleveland, LLC 36 - 4774986 I: DE Q: MS (#348) OHI Asset
(MS) Clinton, LLC 80 - 0965657 I: DE Q: MS (#349) OHI Asset (MS) Columbia, LLC 46 - 4340609 I: DE Q: MS (#350) OHI Asset (MS) Greenwood,
LLC 46 - 4361245 I: DE Q: MS (#352) OHI Asset (MS) Holly Springs, LLC 38 - 3921178 I: DE Q: MS (#354) OHI Asset (MS) Indianola,
LLC 90 - 1036275 I: DE Q: MS (#355) OHI Asset (TX) Winnsboro, LLC ____________ I: DE Q: TX (#390) OHI Asset (TX) Diboll, LLC ____________
I: DE Q: TX (#387) OHI Asset (TX) Granbury, LLC ____________ I: DE Q: TX (#388) OHI Asset (TX) Italy, LLC ____________ I: DE Q:
TX (#389) OHI Asset (UT) Ogden, LLC ____________ I: DE Q: UT (#391) OHI Asset (UT) Provo, LLC ____________ I: DE Q: UT (#392) OHI
Asset (VA) Rocky Mount, LLC ____________ I: DE Q: VA (#397) OHI Asset (VA) Charlottesville, LLC ____________ I: DE Q: VA (#394)
OHI Asset (VA) Farmville, LLC ____________ I: DE Q: VA (#395) OHI Asset (VA) Hillsville, LLC ____________ I: DE Q: VA (#396) OHI
Asset (WA) Battle Ground, LLC ____________ I: DE Q: WA (#398) OHI Asset RO PMM Services, LLC 46 - 4309941 I: DE (#399) 100% 100%
100% 100% 100% 100%

    	 

    	 

    Omega Healthcare Investors, Inc.

Subsidiary List

As of December 26, 2013

 

 

	NOTES:   	(1)  	this chart is cross-referenced with the organizational chart, doc. #858203.
	 	(2)	thIS chart is sorted in alphabetical order and assigned the chart reference nO. listed in column 6).
	 	(3)	Unless otherwise noted in Column 7, Comment(s), the subsidIary is a guarantor subsidiary.

 

	 	
         

         

        Subsidiary Name
	
         

         

        FEIN
	
         

        Home

        State
	Foreign

Qualifi-

cation(s)	
         

        Chart

        Ref. #
	
         

         

        Comment(s)

	   1.         	1040 Wedding Ford Road, LLC	61-1573457	Arkansas	---	270	Non-Guarantor Subsidiary
	   2.         	1101 Waterwell Road, LLC	61-1573458	Arkansas	---	269	Non-Guarantor Subsidiary
	   3.         	1149 & 1151 West New Hope Road, LLC	61-1573459	Arkansas	---	272	Non-Guarantor Subsidiary
	   4.         	115 Orendorff Avenue, LLC	61-1573450	Arkansas	---	274	Non-Guarantor Subsidiary
	   5.         	11900 East Artesia Boulevard, LLC	90-0266391	California	---	323	Non-Guarantor Subsidiary
	   6.         	1194 North Chester Street, LLC 	61-1573460	Arkansas	---	271	Non-Guarantor Subsidiary
	   7.         	1200 Ely Street Holdings Co. LLC	26-3524594	Michigan	---	278	 
	   8.         	13922 Cerise Avenue, LLC	71-0976970	California	---	314	 
	   9.         	1401 Park Avenue, LLC	61-1573464	Arkansas	---	273	Non-Guarantor Subsidiary
	   10.       	1628 B Street, LLC	30-0482286	California	---	320	Non-Guarantor Subsidiary
	   11.       	202 Tims Avenue, LLC 	61-1573452	Arkansas	---	275	Non-Guarantor Subsidiary
	   12.       	228 Pointer Trail West, LLC	61-1573453	Arkansas	---	267	Non-Guarantor Subsidiary
	   13.       	2400 Parkside Drive, LLC	30-0482288	California	---	321	Non-Guarantor Subsidiary
	   14.       	2425 Teller Avenue, LLC	20-5672217	Colorado	---	279	 
	   15.       	245 East Wilshire Avenue, LLC 	90-0266386	California	---	313	 
	   16.       	2701 Twin Rivers Drive, LLC	61-1573466	Arkansas	---	266	Non-Guarantor Subsidiary
	   17.       	3232 Artesia Real Estate, LLC	65-1232714	California	---	322	Non-Guarantor Subsidiary
	   18.       	3600 Richards Road, LLC	61-1573467	Arkansas	---	268	Non-Guarantor Subsidiary
	   19.       	3806 Clayton Road, LLC	90-0266403	California	---	312	 
	   20.       	42235 County Road Holdings Co. LLC	83-0500167	Michigan	---	281	 
	   21.       	48 High Point Road, LLC	27-2498824	Maryland	---	282	 
	   22.       	523 Hayes Lane, LLC	45-1777721	California	---	316	 
	   23.       	637 East Romie Lane, LLC	90-0266404	California	---	315	 
	   24.       	700 Mark Drive, LLC	61-1573454	Arkansas	---	277	Non-Guarantor Subsidiary

    	 

    	 

    	 	
         

         

        Subsidiary Name
	
         

         

        FEIN
	
         

        Home

        State
	Foreign

Qualifi-

cation(s)	
         

        Chart

        Ref. #
	
         

         

        Comment(s)

	   25.       	900 Magnolia Road SW, LLC	61-1573456	Arkansas	---	276	Non-Guarantor Subsidiary
	   26.       	Arizona Lessor - Infinia, Inc.	32-0008074	Maryland	AZ	1	 
	   27.       	Bayside Colorado Healthcare Associates, Inc.	38-3517837	Colorado	---	6	 
	   28.       	Bayside Street II, Inc.	38-3519969	Delaware	---	9	 
	   29.       	Bayside Street, Inc.	38-3160026	Maryland	---	10	 
	   30.       	Canton Health Care Land, Inc. 	20-1914579	Ohio	---	11	 
	   31.       	Carnegie Gardens LLC	20-2442381	Delaware	FL	12	 
	   32.       	CFG 2115 Woodstock Place LLC	26-1123970	Delaware	---	280	 
	   33.       	CHR Bartow LLC	26-3708257	Delaware	FL	218	Non-Guarantor Subsidiary
	   34.       	CHR Boca Raton LLC	26-3709390	Delaware	FL	219	Non-Guarantor Subsidiary
	   35.       	CHR Bradenton LLC	26-3710605	Delaware	FL	220	Non-Guarantor Subsidiary
	   36.       	CHR Cape Coral LLC	26-3710052	Delaware	FL	221	Non-Guarantor Subsidiary
	   37.       	CHR Clearwater Highland LLC	26-3709760	Delaware	FL	222	Non-Guarantor Subsidiary
	   38.       	CHR Clearwater LLC	26-3708420	Delaware	FL	223	Non-Guarantor Subsidiary
	   39.       	CHR Deland East LLC	26-3709095	Delaware	FL	224	Non-Guarantor Subsidiary
	   40.       	CHR Deland West LLC	26-3709165	Delaware	FL	225	Non-Guarantor Subsidiary
	   41.       	CHR Fort Myers LLC	26-3710399	Delaware	FL	226	Non-Guarantor Subsidiary
	   42.       	CHR Fort Walton Beach LLC	26-3708663	Delaware	FL	227	Non-Guarantor Subsidiary
	   43.       	CHR Gulfport LLC	26-3710452	Delaware	FL	228	Non-Guarantor Subsidiary
	   44.       	CHR Hudson LLC	26-3709991	Delaware	FL	229	Non-Guarantor Subsidiary
	   45.       	CHR Lake Wales LLC	26-3708893	Delaware	FL	230	Non-Guarantor Subsidiary
	   46.       	CHR Lakeland LLC	26-3708735	Delaware	FL	231	Non-Guarantor Subsidiary
	   47.       	CHR Panama City LLC	26-3708524	Delaware	FL	232	Non-Guarantor Subsidiary
	   48.       	CHR Pompano Beach Broward LLC	26-3710220	Delaware	FL	233	Non-Guarantor Subsidiary
	   49.       	CHR Pompano Beach LLC	26-3709856	Delaware	FL	234	Non-Guarantor Subsidiary
	   50.       	CHR Sanford LLC	26-3709701	Delaware	FL	235	Non-Guarantor Subsidiary
	   51.       	CHR Sarasota LLC	26-3710347	Delaware	FL	236	Non-Guarantor Subsidiary
	   52.       	CHR Spring Hill LLC	26-3709633	Delaware	FL	237	Non-Guarantor Subsidiary
	   53.       	CHR St. Pete Abbey LLC	26-3709327	Delaware	FL	238	Non-Guarantor Subsidiary
	   54.       	CHR St. Pete Bay LLC	26-3709236	Delaware	FL	239	Non-Guarantor Subsidiary
	   55.       	CHR St. Pete Egret LLC	26-3708588	Delaware	FL	240	Non-Guarantor Subsidiary

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	   56.       	CHR Tampa Carrollwood LLC	26-3709502	Delaware	FL	241	Non-Guarantor Subsidiary
	   57.       	CHR Tampa LLC	26-3710161	Delaware	FL	242	Non-Guarantor Subsidiary
	   58.       	CHR Tarpon Springs LLC	26-3708823	Delaware	FL	243	Non-Guarantor Subsidiary
	   59.       	CHR Titusville LLC	26-3709919	Delaware	FL	244	Non-Guarantor Subsidiary
	   60.       	CHR West Palm Beach LLC	26-3710287	Delaware	FL	245	Non-Guarantor Subsidiary
	   61.       	Colonial Gardens, LLC 	26-0110549	Ohio	---	15	 
	   62.       	Colorado Lessor - Conifer, Inc.	32-0008069	Maryland	CO	16	 
	   63.       	Copley Health Center, Inc. 	34-1473010	Ohio	---	17	Merger Pending
	   64.       	CSE Albany LLC	20-5885886	Delaware	KY	149	 
	   65.       	CSE Amarillo LLC	20-5862752	Delaware	TX	150	 
	   66.       	CSE Arden L.P.	20-5888680	Delaware	NC	151	 
	   67.       	CSE Augusta LLC	20-5885921	Delaware	KY	152	 
	   68.       	CSE Bedford LLC	20-5886082	Delaware	KY	153	 
	   69.       	CSE Blountville LLC	20-8295288	Delaware	TN	19	 
	   70.       	CSE Bolivar LLC	20-8295024	Delaware	TN	20	 
	   71.       	CSE Cambridge LLC	20-5886976	Delaware	MD	154	 
	   72.       	CSE Cambridge Realty LLC	20-5959318	Delaware	MD	155	 
	   73.       	CSE Camden LLC	20-8295066	Delaware	TN	21	 
	   74.       	CSE Canton LLC	20-5887312	Delaware	OH	156	 
	   75.       	CSE Casablanca Holdings II LLC	26-0595183	Delaware	---	158	 
	   76.       	CSE Casablanca Holdings LLC	20-8724466	Delaware	---	157	 
	   77.       	CSE Cedar Rapids LLC	20-5884941	Delaware	IA	159	 
	   78.       	CSE Centennial Village	20-6974959	Delaware	PA	22	 
	   79.       	CSE Chelmsford LLC	20-5920451	Delaware	MA	160	 
	   80.       	CSE Chesterton LLC	20-5885195	Delaware	IN	161	 
	   81.       	CSE Claremont LLC	20-5883891	Delaware	CA	162	CA d/b/a:  CapitalSource Claremont LLC
	   82.       	CSE Corpus North LLC	20-5186415	Delaware	TX	23	 
	   83.       	CSE Denver Iliff LLC	20-8037772	Delaware	CO	25	 
	   84.       	CSE Denver LLC	20-5884311	Delaware	CO	163	 
	   85.       	CSE Douglas LLC	20-5883761	Delaware	AZ	164	 

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	   86.       	CSE Elkton LLC	20-5887006	Delaware	MD	166	 
	   87.       	CSE Elkton Realty LLC	20-5959253	Delaware	MD	167	 
	   88.       	CSE Fairhaven LLC	20-8281491	Delaware	MA	26	 
	   89.       	CSE Fort Wayne LLC	20-5885125	Delaware	IN	168	 
	   90.       	CSE Frankston LLC	20-5862947	Delaware	TX	169	 
	   91.       	CSE Georgetown LLC	20-5886126	Delaware	KY	170	 
	   92.       	CSE Green Bay LLC	20-5888029	Delaware	WI	171	 
	   93.       	CSE Hilliard LLC	20-5887347	Delaware	OH	172	 
	   94.       	CSE Huntingdon LLC	20-8295191	Delaware	TN	27	 
	   95.       	CSE Huntsville LLC	20-5887764	Delaware	TN	173	 
	   96.       	CSE Indianapolis-Continental LLC	20-5885046	Delaware	IN	174	 
	   97.       	CSE Indianapolis-Greenbriar LLC	20-5885096	Delaware	IN	175	 
	   98.       	CSE Jacinto City LLC	20-5186519	Delaware	TX	28	 
	   99.       	CSE Jefferson City LLC	20-8295101	Delaware	TN	29	 
	   100.     	CSE Jeffersonville-Hillcrest Center LLC	20-5885261	Delaware	IN	176	 
	   101.     	CSE Jeffersonville-Jennings House LLC	20-5885346	Delaware	IN	177	 
	   102.     	CSE Kerrville LLC	20-8684872	Delaware	TX	30	 
	   103.     	CSE King L.P.	20-5888725	Delaware	NC	178	 
	   104.     	CSE Kingsport LLC	20-5887736	Delaware	TN	179	 
	   105.     	CSE Knightdale L.P.	20-5888653	Delaware	NC	180	 
	   106.     	CSE Lake City LLC	20-5863259	Delaware	FL	181	 
	   107.     	CSE Lake Worth LLC	20-5863173	Delaware	FL	182	 
	   108.     	CSE Lakewood LLC	20-5884352	Delaware	CO	183	 
	   109.     	CSE Las Vegas LLC	20-5887216	Delaware	NM	184	 
	   110.     	CSE Lawrenceburg LLC	20-5887802	Delaware	TN	185	 
	   111.     	CSE Lenoir L.P.	20-5888528	Delaware	NC	186	 
	   112.     	CSE Lexington Park LLC	20-5886951	Delaware	MD	187	 
	   113.     	CSE Lexington Park Realty LLC	20-5959280	Delaware	MD	188	 
	   114.     	CSE Ligonier LLC	20-5885484	Delaware	IN	189	 
	   115.     	CSE Live Oak LLC	20-5863086	Delaware	FL	190	 
	   116.     	CSE Lowell LLC	20-5885381	Delaware	IN	192	 

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	   117.     	CSE Marianna Holdings LLC	20-1411422	Delaware	FL	31	 
	   118.     	CSE Memphis LLC	20-8295130 	Delaware	TN	32	 
	   119.     	CSE Mobile LLC	20-5883572	Delaware	AL	193	 
	   120.     	CSE Moore LLC	20-5887574	Delaware	OK	194	 
	   121.     	CSE North Carolina Holdings I LLC	20-5888397	Delaware	---	195	 
	   122.     	CSE North Carolina Holdings II LLC	20-5888430	Delaware	---	196	 
	   123.     	CSE Omro LLC	20-5887998	Delaware	WI	197	 
	   124.     	CSE Orange Park LLC	20-5863371	Delaware	FL	198	 
	   125.     	CSE Orlando-Pinar Terrace Manor LLC	20-5863043	Delaware	FL	199	 
	   126.     	CSE Orlando-Terra Vista Rehab LLC	20-5863223	Delaware	FL	200	 
	   127.     	CSE Pennsylvania Holdings	20-6974946	Delaware	---	33	 
	   128.     	CSE Piggott LLC	20-5883659	Delaware	AR	201	 
	   129.     	CSE Pilot Point LLC	20-5862827	Delaware	TX	202	 
	   130.     	CSE Pine View LLC	20-5398686	Delaware	MS	246	 
	   131.     	CSE Ponca City LLC	20-5887495	Delaware	OK	203	 
	   132.     	CSE Port St. Lucie LLC	20-5863294	Delaware	FL	204	 
	   133.     	CSE Richmond LLC	20-5885427	Delaware	IN	205	 
	   134.     	CSE Ripley LLC	20-8295238	Delaware	TN	34	 
	   135.     	CSE Ripon LLC	26-0480886	Delaware	WI	35	 
	   136.     	CSE Safford LLC	20-5883807	Delaware	AZ	206	 
	   137.     	CSE Salina LLC	20-5885669	Delaware	KS	207	 
	   138.     	CSE Seminole LLC	20-5887615	Delaware	OK	208	 
	   139.     	CSE Shawnee LLC	20-5887524	Delaware	OK	209	 
	   140.     	CSE Spring Branch LLC	20-5186484	Delaware	TX	36	 
	   141.     	CSE Stillwater LLC	20-5887548	Delaware	OK	210	 
	   142.     	CSE Taylorsville LLC	20-5886196	Delaware	KY	211	 
	   143.     	CSE Texarkana LLC	20-5862880	Delaware	TX	37	 
	   144.     	CSE Texas City LLC	20-5862791	Delaware	TX	212	 
	   145.     	CSE The Village LLC	20-5186550	Delaware	TX	38	 
	   146.     	CSE Upland LLC	20-5891148	Delaware	IN	213	 
	   147.     	CSE Walnut Cove L.P.	20-5888502	Delaware	NC	214	 

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	   148.     	CSE West Point LLC	20-5887119	Delaware	MS	39	 
	   149.     	CSE Whitehouse LLC	20-8294979	Delaware	OH	40	 
	   150.     	CSE Williamsport LLC	26-0480953	Delaware	IN	41	 
	   151.     	CSE Winter Haven LLC	20-5863327	Delaware	FL	215	 
	   152.     	CSE Woodfin L.P.	20-5888619	Delaware	NC	216	 
	   153.     	CSE Yorktown LLC	20-5885163	Delaware	IN	217	 
	   154.     	Delta Investors I, LLC	54-2112455	Maryland	CA, ID, MA,

OH, WV	43	 
	   155.     	Delta Investors II, LLC	54-2112456	Maryland	CA, NC, OH,

WA, WV	44	 
	   156.     	Desert Lane LLC	20-3098022	Delaware	NV	45	 
	   157.     	Dixie White House Nursing Home, Inc.	59-3738671	Mississippi	---	247	 
	   158.     	Dixon Health Care Center, Inc. 	34-1509772	Ohio	---	46	 
	   159.     	Encanto Senior Care, LLC	20-1669755	Arizona	 	308	 
	   160.     	Florida Lessor – Crystal Springs, Inc.	75-3116533	Maryland	FL	47	 
	   161.     	Florida Lessor – Emerald, Inc.	22-3872569	Maryland	FL	48	 
	   162.     	Florida Lessor – Lakeland, Inc.	22-3872564	Maryland	FL	49	 
	   163.     	Florida Lessor – Meadowview, Inc.	56-2398721	Maryland	FL	50	 
	   164.     	Florida Real Estate Company, LLC	20-1458431	Florida	---	51	 
	   165.     	G&L Gardens, LLC	95-4639695	Arizona	 	309	Non-Guarantor Subsidiary
	   166.     	Georgia
    Lessor –  Bonterra/Parkview, Inc.	16-1650494	Maryland	GA	52	 
	   167.     	Golden Hill Real Estate Company, LLC	71-0976967	California	---	324	Non-Guarantor Subsidiary
	   168.     	Greenbough, LLC	27-0258266	Delaware	MS	53	 
	   169.     	Hanover House, Inc. 	34-1125264	Ohio	---	54	Merger Pending
	   170.     	House of Hanover, Ltd 	34-6691713	Ohio	---	56	Merger Pending
	   171.     	Hutton I Land, Inc. 	20-1914403	Ohio	---	57	 
	   172.     	Hutton II Land, Inc. 	20-1914470	Ohio	---	58	 
	   173.     	Hutton III Land, Inc. 	20-1914529	Ohio	---	59	 
	   174.     	Indiana Lessor – Jeffersonville, Inc.	22-3872575	Maryland	IN	60	 
	   175.     	Indiana Lessor – Wellington Manor, Inc.	32-0008064	Maryland	IN	61	 
	   176.     	Jefferson Clark, Inc.	38-3433390	Maryland	---	62	 

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	   177.     	LAD I Real Estate Company, LLC	20-1454154	Delaware	FL	63	 
	   178.     	Leatherman 90-1, Inc. 	20-1914625	Ohio	---	65	 
	   179.     	Leatherman Partnership 89-1, Inc. 	34-1656489	Ohio	---	66	 
	   180.     	Leatherman Partnership 89-2, Inc. 	34-1656491	Ohio	---	67	 
	   181.     	Long Term Care – Michigan, Inc.	04-3833330	Michigan	---	68	 
	   182.     	Long Term Care – North Carolina, Inc.	04-3833335	North Carolina	---	69	 
	   183.     	Long Term Care Associates – Illinois, Inc. 	38-3592159	Illinois	---	70	 
	   184.     	Long Term Care Associates – Indiana, Inc. 	38-3592160	Indiana	---	71	 
	   185.     	Long Term Care Associates – Texas, Inc. 	38-3592142	Texas	---	72	 
	   186.     	Meridian Arms Land, Inc. 	20-1914864	Ohio	---	73	 
	   187.     	North Las Vegas LLC	20-3098036	Delaware	NV	74	NV d/b/a:  CSE North Las

Vegas LLC
	   188.     	NRS Ventures, L.L.C.	38-4236118	Delaware	AL, FL, GA,

KY, TN	75	 
	   189.     	Ocean Springs Nursing Home, Inc.	58-2635823	Mississippi	---	248	 
	   190.     	OHI (Connecticut), Inc. 	06-1552120 	Connecticut	NH, VT, WV	77	 
	   191.     	OHI (Florida), Inc. 	65-0523484	Florida	---	78	 
	   192.     	OHI (Illinois), Inc. 	37-1332375	Illinois	IN	79	 
	   193.     	OHI (Indiana), Inc. 	38-3568359	Indiana	OH	80	 
	   194.     	OHI (Iowa), Inc. 	38-3377918	Iowa	MD	81	 
	   195.     	OHI (Kansas), Inc. 	48-1156047	Kansas	---	82	 
	   196.     	OHI Acquisition Co I, LLC	27-0492836	Delaware	---	76	Non-Guarantor Subsidiary
	   197.     	OHI Asset (AR) Ash Flat, LLC	46-3670959	Delaware	AR	326	 
	   198.     	OHI Asset (AR) Camden, LLC	46-3672608	Delaware	AR	327	 
	   199.     	OHI Asset (AR) Conway, LLC	61-1721332	Delaware	AR	328	 
	   200.     	OHI Asset (AR) Des Arc, LLC	46-3691025	Delaware	AR	329	 
	   201.     	OHI Asset (AR) Hot Springs, LLC	80-0951655	Delaware	AR	330	 
	   202.     	OHI Asset (AR) Malvern, LLC	46-3719491	Delaware	AR	332	 
	   203.     	OHI Asset (AR) Mena, LLC	38-3915930	Delaware	AR	331	 
	   204.     	OHI Asset (AR) Pocahontas, LLC	46-3728913	Delaware	AR	333	 
	   205.     	OHI Asset (AR) Sheridan, LLC	46-3739623	Delaware	AR	334	 

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	   206.     	OHI Asset (AR) Walnut Ridge, LLC	46-3751920	Delaware	AR	335	 
	   207.     	OHI Asset (AZ) Austin House, LLC	 	Delaware	---	400	 
	   208.     	OHI Asset (CA), LLC	04-3759925	Delaware	CA	83	 
	   209.     	OHI Asset (CO), LLC	84-1706510	Delaware	CO, ID	84	 
	   210.     	OHI Asset (CT) DIP, LLC	27-0492959	Delaware	---	85	Non-Guarantor Subsidiary
	   211.     	OHI Asset (CT) Lender, LLC	75-3205111	Delaware	NH, RI, MA	86	 
	   212.     	OHI Asset (FL) Lake Placid, LLC	46-3827043	Delaware	FL	337	 
	   213.     	OHI Asset (FL) Lender, LLC	27-4450390	Delaware	---	258	 
	   214.     	OHI Asset (FL), LLC	13-4225158	Delaware	FL, NM	87	 
	   215.     	OHI Asset (GA) Moultrie, LLC	46-4254981	Delaware	GA	342	 
	   216.     	OHI Asset (GA) Snellville, LLC	46-4259685	Delaware	GA	343	 
	   217.     	OHI Asset (ID) Holly, LLC	46-4268973	Delaware	ID	344	 
	   218.     	OHI Asset (ID) Midland, LLC	46-4279515	Delaware	ID	345	 
	   219.     	OHI Asset (ID), LLC	04-3759931	Delaware	ID	88	 
	   220.     	OHI Asset (IL), LLC	14-1951802	Delaware	IL	89	 
	   221.     	OHI Asset (IN) American Village, LLC	46-0985915	Delaware	IN	289	 
	   222.     	OHI Asset (IN) Anderson, LLC	46-0989235	Delaware	IN	292	 
	   223.     	OHI Asset (IN) Beech Grove, LLC	46-1000956	Delaware	IN	290	 
	   224.     	OHI Asset (IN) Clarksville, LLC	46-1011127	Delaware	IN	299	 
	   225.     	OHI Asset (IN) Clinton, LLC	46-4095764	Delaware	IN	338	 
	   226.     	OHI Asset (IN) Connersville, LLC	46-4289202	Delaware	IN	346	 
	   227.     	OHI Asset (IN) Crown Point, LLC	46-1738072	Delaware	IN	319	 
	   228.     	OHI Asset (IN) Eagle Valley, LLC	46-1021612	Delaware	IN	291	 
	   229.     	OHI Asset (IN) Elkhart, LLC	46-1035197	Delaware	IN	298	 
	   230.     	OHI Asset (IN) Forest Creek, LLC	46-1040435	Delaware	IN	293	 
	   231.     	OHI Asset (IN) Fort Wayne, LLC	46-1050897	Delaware	IN	295	 
	   232.     	OHI Asset (IN) Franklin, LLC	46-1062818	Delaware	IN	294	 
	   233.     	OHI Asset (IN) Greensburg, LLC	38-3879137	Delaware	---	287	 
	   234.     	OHI Asset (IN) Indianapolis, LLC	36-4736441	Delaware	---	288	 
	   235.     	OHI Asset (IN) Jasper, LLC	46-4100999	Delaware	IN	339	 
	   236.     	OHI Asset (IN) Kokomo, LLC	46-1071289	Delaware	IN	297	 

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	   237.     	OHI Asset (IN) Lafayette, LLC	46-1085161	Delaware	IN	302	 
	   238.     	OHI Asset (IN) Madison, LLC	46-1745924	Delaware	IN	318	 
	   239.     	OHI Asset (IN) Monticello, LLC	46-1090601	Delaware	IN	296	 
	   240.     	OHI Asset (IN) Noblesville, LLC	46-1103366	Delaware	IN	300	 
	   241.     	OHI Asset (IN) Rosewalk, LLC	46-1116285	Delaware	IN	301	 
	   242.     	OHI Asset (IN) Salem, LLC	46-4111473	Delaware	IN	340	 
	   243.     	OHI Asset (IN) Seymour, LLC	46-4133715	Delaware	IN	341	 
	   244.     	OHI Asset (IN) Spring Mill, LLC	46-1120573	Delaware	IN	303	 
	   245.     	OHI Asset (IN) Terre Haute, LLC	46-1140102	Delaware	IN	304	 
	   246.     	OHI Asset (IN) Wabash, LLC	38-3879151	Delaware	---	285	 
	   247.     	OHI Asset (IN) Westfield, LLC	32-0381277	Delaware	---	286	 
	   248.     	OHI Asset (IN) Zionsville, LLC	46-1152307	Delaware	IN	305	 
	   249.     	OHI Asset (IN), LLC	04-3759933	Delaware	IN	90	 
	   250.     	OHI Asset (LA), LLC	04-3759935	Delaware	LA, TX	91	 
	   251.     	OHI Asset (MD), LLC	45-2611748	Delaware	---	260	 
	   252.     	OHI Asset (MI) Heather Hills, LLC	46-1515395	Delaware	MI	317	 
	   253.     	OHI Asset (MI), LLC	27-3378345	Delaware	---	257	 
	   254.     	OHI Asset (MI/NC), LLC	04-3759928	Delaware	MI, NC	92	 
	   255.     	OHI Asset (MO), LLC	04-3759939	Delaware	MO	93	 
	   256.     	OHI Asset (MS) Byhalia, LLC	46-4298734	Delaware	MS	347	 
	   257.     	OHI Asset (MS) Cleveland, LLC	36-4774986	Delaware	MS	348	 
	   258.     	OHI Asset (MS) Clinton, LLC	80-0965657	Delaware	MS	349	 
	   259.     	OHI Asset (MS) Columbia, LLC	46-4340609	Delaware	MS	350	 
	   260.     	OHI Asset (MS) Corinth, LLC	46-4351222	Delaware	MS	351	 
	   261.     	OHI Asset (MS) Greenwood, LLC	46-4361245	Delaware	MS	352	 
	   262.     	OHI Asset (MS) Grenada, LLC	46-4376223	Delaware	MS	353	 
	   263.     	OHI Asset (MS) Holly Springs, LLC	38-3921178	Delaware	MS	354	 
	   264.     	OHI Asset (MS) Indianola, LLC	90-1036275	Delaware	MS	355	 
	   265.     	OHI Asset (MS) Natchez, LLC	 	Delaware	MS	356	 
	   266.     	OHI Asset (MS) Picayune, LLC	 	Delaware	MS	357	 
	   267.     	OHI Asset (MS) Vicksburg, LLC	 	Delaware	MS	358	 

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	   268.     	OHI Asset (MS) Yazoo City, LLC	 	Delaware	MS	359	 
	   269.     	OHI Asset (NC) Wadesboro, LLC	 	Delaware	NC	360	 
	   270.     	OHI Asset (OH) Lender, LLC	51-0529744	Delaware	---	94	 
	   271.     	OHI Asset (OH) New Philadelphia, LLC	51-0529741	Delaware	OH	95	 
	   272.     	OHI Asset (OH), LLC	04-3759938	Delaware	OH, PA	96	 
	   273.     	OHI Asset (OR) Portland, LLC	 	Delaware	OR	361	 
	   274.     	OHI Asset (PA) Trust	54-6643405	Maryland	OH, PA, WV	97	 
	   275.     	OHI Asset (PA), LLC	90-0137715	Delaware	OH, PA, WV	98	 
	   276.     	OHI Asset (SC) Aiken, LLC	 	Delaware	SC	362	 
	   277.     	OHI Asset (SC) Anderson, LLC	 	Delaware	SC	363	 
	   278.     	OHI Asset (SC) Easley Anne, LLC	 	Delaware	SC	364	 
	   279.     	OHI Asset (SC) Easley Crestview, LLC	 	Delaware	SC	365	 
	   280.     	OHI Asset (SC) Edgefield, LLC	 	Delaware	SC	366	 
	   281.     	OHI Asset (SC) Greenville Griffith, LLC	 	Delaware	SC	367	 
	   282.     	OHI Asset (SC) Greenville Laurens, LLC	 	Delaware	SC	368	 
	   283.     	OHI Asset (SC) Greenville North, LLC	 	Delaware	SC	369	 
	   284.     	OHI Asset (SC) Greer, LLC	 	Delaware	SC	370	 
	   285.     	OHI Asset (SC) Marietta, LLC	 	Delaware	SC	371	 
	   286.     	OHI Asset (SC) McCormick, LLC	 	Delaware	SC	372	 
	   287.     	OHI Asset (SC) Pickens East Cedar, LLC	 	Delaware	SC	373	 
	   288.     	OHI Asset (SC) Pickens Rosemond, LLC	 	Delaware	SC	374	 
	   289.     	OHI Asset (SC) Piedmont, LLC	 	Delaware	SC	375	 
	   290.     	OHI Asset (SC) Simpsonville SE Main, LLC	 	Delaware	SC	376	 
	   291.     	OHI Asset (SC) Simpsonville West Broad, LLC	 	Delaware	SC	377	 
	   292.     	OHI Asset (SC) Simpsonville West Curtis, LLC	 	Delaware	SC	378	 
	   293.     	OHI Asset (SMS) Lender, Inc.	33-1067711	Maryland	---	99	(f/k/a Florida Lessor—West 

Palm Beach and Southpoint, Inc.  

Name change filed 5/1/07).
	   294.     	OHI Asset (TN) Bartlett, LLC	 	Delaware	TN	379	 
	   295.     	OHI Asset (TN) Collierville, LLC	 	Delaware	TN	380	 

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	   296.     	OHI Asset (TN) Memphis, LLC	 	Delaware	TN	381	 
	   297.     	OHI Asset (TX) Anderson, LLC	 	Delaware	TX	382	 
	   298.     	OHI Asset (TX) Bryan, LLC	 	Delaware	TX	383	 
	   299.     	OHI Asset (TX) Burleson, LLC	 	Delaware	TX	384	 
	   300.     	OHI Asset (TX) College Station, LLC	 	Delaware	TX	385	 
	   301.     	OHI Asset (TX) Comfort, LLC	 	Delaware	TX	386	 
	   302.     	OHI Asset (TX) Diboll, LLC	 	Delaware	TX	387	 
	   303.     	OHI Asset (TX) Granbury, LLC	 	Delaware	TX	388	 
	   304.     	OHI Asset (TX) Hondo, LLC	46-1346058	Delaware	TX	307	 
	   305.     	OHI Asset (TX) Italy, LLC	 	Delaware	TX	389	 
	   306.     	OHI Asset (TX) Paris, LLC	26-1724445	Delaware	TX	101	Non-Guarantor Subsidiary
	   307.     	OHI Asset (TX) Winnsboro, LLC	 	Delaware	TX	390	 
	   308.     	OHI Asset (TX), LLC	04-3759927	Delaware	TX	100	Survivor of merger with 

OHI Asset II (TX).
	   309.     	OHI Asset (UT) Ogden, LLC	 	Delaware	UT	391	 
	   310.     	OHI Asset (UT) Provo, LLC	 	Delaware	UT	392	 
	   311.     	OHI Asset (UT) Roy, LLC	 	Delaware	UT	393	 
	   312.     	OHI Asset (VA) Charlottesville, LLC	 	Delaware	VA	394	 
	   313.     	OHI Asset (VA) Farmville, LLC	 	Delaware	VA	395	 
	   314.     	OHI Asset (VA) Hillsville, LLC	 	Delaware	VA	396	 
	   315.     	OHI Asset (VA) Rocky Mount, LLC	 	Delaware	VA	397	 
	   316.     	OHI Asset (WA) Battle Ground, LLC	 	Delaware	WA	398	 
	   317.     	OHI Asset CSB LLC	27-2820083	Delaware	---	148	 
	   318.     	OHI Asset CSE – E, LLC	27-1675861	Delaware	---	102	 
	   319.     	OHI Asset CSE – U, LLC	27-1675768	Delaware	---	103	 
	   320.     	OHI Asset Essex (OH), LLC	83-0379722	Delaware	---	104	(f/k/a Omega Acquisition 

Facility I, LLC.  Name 

change filed 3/22/06).
	   321.     	OHI Asset HUD CFG, LLC	45-3662151	Delaware	---	261	 
	   322.     	OHI Asset HUD Delta, LLC	27-1895030	Delaware	---	105	 
	   323.     	OHI Asset HUD H-F, LLC	27-1894893	Delaware	---	106	Non-Guarantor Subsidiary

    	11

    	 

    	 	
         

         

        Subsidiary Name
	
         

         

        FEIN
	
         

        Home

        State
	Foreign

Qualifi-

cation(s)	
         

        Chart

        Ref. #
	
         

         

        Comment(s)

	   324.     	OHI Asset HUD SF CA, LLC	46-1251365	Delaware	---	306	 
	   325.     	OHI Asset HUD SF, LLC	80-0830116	Delaware	---	284	 
	   326.     	OHI Asset HUD WO, LLC	45-2379675	Delaware	---	259	 
	   327.     	OHI Asset II (CA), LLC	20-1000879	Delaware	CA	107	 
	   328.     	OHI Asset II (FL), LLC	27-1813906	Delaware	FL	108	 
	   329.     	OHI Asset II (PA) Trust	84-6390330	Maryland	PA	109	 
	   330.     	OHI Asset III (PA) Trust	84-6390331	Maryland	OH, PA	110	Survivor of 2/2/07 merger 

with OHI Asset II (OH), LLC.
	   331.     	OHI Asset IV (PA) Silver Lake Trust	80-6146794	Maryland	PA	111	Survivor of 12/29/09 merger 

with Silver Lake Real Estate, LLC.
	   332.     	OHI Asset RO PMM Services, LLC	46-4309941	Delaware	---	399	 
	   333.     	OHI Asset RO, LLC	90-1018980	Delaware	---	336	 
	   334.     	OHI Asset, LLC	32-0079270	Delaware	AL, NC, TN, 

WA	112	 
	   335.     	OHI Mezz Lender, LLC	46-3201249	Delaware	---	325	 
	   336.     	OHI of Texas, Inc.	38-3506136	Maryland	TX	113	 
	   337.     	OHI Sunshine, Inc. 	82-0558471	Florida	---	114	 
	   338.     	OHI Tennessee, Inc.	38-3509157	Maryland	TN	115	(f/k/a OHI of Kentucky, Inc.

 Name change filed 03/22/10).
	   339.     	OHIMA, Inc. 	06-1552118	Massachusetts	---	116	 
	   340.     	Omega (Kansas), Inc.	32-0142534	Kansas	---	117	 
	   341.     	Omega TRS I, Inc.	38-3587540	Maryland	LA, TX	118	 
	   342.     	Orange Village Care Center, Inc.	34-1321728	Ohio	---	119	 
	   343.     	OS Leasing Company	38-3221641	Kentucky	---	120	 
	   344.     	Palm Valley Senior Care, LLC	75-3153681	Arizona	 	310	Non-Guarantor Subsidiary
	   345.     	Panama City Nursing Center LLC	20-2568041	Delaware	FL	121	 
	   346.     	Pavillion North Partners, Inc. 	20-2597892	Pennsylvania	---	123	 
	   347.     	Pavillion North, LLP	75-3202956	Pennsylvania	---	124	 
	   348.     	Pavillion Nursing Center North, Inc. 	25-1222652	Pennsylvania	---	125	 

    	12

    	 

    	 	
         

         

        Subsidiary Name
	
         

         

        FEIN
	
         

        Home

        State
	Foreign

Qualifi-

cation(s)	
         

        Chart

        Ref. #
	
         

         

        Comment(s)

	   349.     	Pensacola Real Estate Holdings I, Inc.	59-3667935	Florida	---	249	 
	   350.     	Pensacola Real Estate Holdings II, Inc.	59-3667937	Florida	---	250	 
	   351.     	Pensacola Real Estate Holdings III, Inc.	59-3667939	Florida	---	251	 
	   352.     	Pensacola Real Estate Holdings IV, Inc.	59-3667940	Florida	---	252	 
	   353.     	Pensacola Real Estate Holdings V, Inc.	59-3667941	Florida	---	253	 
	   354.     	PV Realty-Clinton, LLC	26-4389743	Maryland	---	262	Non-Guarantor Subsidiary
	   355.     	PV Realty-Holly Hill, LLC	74-3244463	Maryland	---	265	Non-Guarantor Subsidiary
	   356.     	PV Realty-Kensington, LLC	26-4389837	Maryland	---	263	Non-Guarantor Subsidiary
	   357.     	PV Realty-Willow Tree, LLC	27-0328038	Maryland	WV	264	Non-Guarantor Subsidiary
	   358.     	Ridgecrest Senior Care, LLC	20-1998988	Arizona	 	311	Non-Guarantor Subsidiary
	   359.     	Skilled Nursing – Hicksville, Inc.	38-3592172	Ohio	---	131	Merger Pending
	   360.     	Skyler Boyington, Inc.	42-1572543	Mississippi	---	254	 
	   361.     	Skyler Florida, Inc.	64-0821299	Mississippi	FL	255	Florida d/b/a: Rosewood 

Manor of Pensacola, Inc.
	   362.     	Skyler Maitland LLC	20-3888672	Delaware	FL	133	 
	   363.     	Skyler Pensacola, Inc.	59-3561064	Florida	---	256	 
	   364.     	SLC Property Investors, LLC	32-0265175	Delaware	---	283	Non-Guarantor Subsidiary
	   365.     	St. Mary’s Properties, Inc.	20-1914905	Ohio	---	135	 
	   366.     	Sterling Acquisition Corp.	38-3207992	Kentucky	AL, AR, FL, 

OH, TN, TX, WV	136	 
	   367.     	Sterling Acquisition Corp. II	38-3207991	Kentucky	---	137	 
	   368.     	Suwanee, LLC	20-5223977	Delaware	FL	138	 
	   369.     	Texas Lessor – Stonegate GP, Inc.	32-0008071	Maryland	TX	139	 
	   370.     	Texas Lessor – Stonegate, Limited, Inc.	32-0008072	Maryland	---	140	 
	   371.     	Texas Lessor – Stonegate, LP	32-0008073	Maryland	TX	141	 
	   372.     	Texas Lessor – Treemont, Inc.	16-1650495	Maryland	TX	142	 
	   373.     	The Suburban Pavilion, Inc. 	34-1035431	Ohio	---	143	 
	   374.     	Washington Lessor – Silverdale, Inc.	56-2386887	Maryland	WA	144	 
	   375.     	Wilcare, LLC	26-0110550	Ohio	---	147	 

* * *

 

    	13

    	 

     

 SCHEDULE 6.19

 

POST CLOSING SUBSIDIARIES

 

	 	 	Entity Name	 	State of Formation
	 	 	 	 	 
	1.	 	OHI Asset (IN) Clinton, LLC	 	Delaware
	2.	 	OHI Asset (IN) Jasper, LLC	 	Delaware
	3.	 	OHI Asset (IN) Salem, LLC	 	Delaware
	4.	 	OHI Asset (IN) Seymour, LLC	 	Delaware
	5.	 	OHI Asset (GA) Moultrie, LLC	 	Delaware
	6.	 	OHI Asset (GA) Snellville, LLC	 	Delaware
	7.	 	OHI Asset (ID) Holly, LLC	 	Delaware
	8.	 	OHI Asset (ID) Midland, LLC	 	Delaware
	9.	 	OHI Asset (IN) Connersville, LLC	 	Delaware
	10.	 	OHI Asset (MS) Byhalia, LLC	 	Delaware
	11.	 	OHI Asset (MS) Cleveland, LLC	 	Delaware
	12.	 	OHI Asset (MS) Clinton, LLC	 	Delaware
	13.	 	OHI Asset (MS) Columbia, LLC	 	Delaware
	14.	 	OHI Asset (MS) Corinth, LLC	 	Delaware
	15.	 	OHI Asset (MS) Greenwood, LLC	 	Delaware
	16.	 	OHI Asset (MS) Grenada, LLC	 	Delaware
	17.	 	OHI Asset (MS) Holly Springs, LLC	 	Delaware
	18.	 	OHI Asset (MS) Indianola, LLC	 	Delaware
	19.	 	OHI Asset (MS) Natchez, LLC	 	Delaware
	20.	 	OHI Asset (MS) Picayune, LLC	 	Delaware
	21.	 	OHI Asset (MS) Vicksburg, LLC	 	Delaware
	22.	 	OHI Asset (MS) Yazoo City, LLC	 	Delaware
	23.	 	OHI Asset (NC) Wadesboro, LLC	 	Delaware
	24.	 	OHI Asset (OR) Portland, LLC	 	Delaware
	25.	 	OHI Asset (SC) Aiken, LLC	 	Delaware
	26.	 	OHI Asset (SC) Anderson, LLC	 	Delaware
	27.	 	OHI Asset (SC) Easley Anne, LLC	 	Delaware
	28.	 	OHI Asset (SC) Easley Crestview, LLC	 	Delaware
	29.	 	OHI Asset (SC) Edgefield, LLC	 	Delaware
	30.	 	OHI Asset (SC) Greenville Griffith, LLC	 	Delaware
	31.	 	OHI Asset (SC) Greenville Laurens, LLC	 	Delaware
	32.	 	OHI Asset (SC) Greenville North, LLC	 	Delaware
	33.	 	OHI Asset (SC) Greer, LLC	 	Delaware
	34.	 	OHI Asset (SC) Marietta, LLC	 	Delaware
	35.	 	OHI Asset (SC) McCormick, LLC	 	Delaware
	36.	 	OHI Asset (SC) Pickens East Cedar, LLC	 	Delaware
	37.	 	OHI Asset (SC) Pickens Rosemond, LLC	 	Delaware
	38.	 	OHI Asset (SC) Piedmont, LLC	 	Delaware
	39.	 	OHI Asset (SC) Simpsonville SE Main, LLC	 	Delaware

 

    	 

    	 

     

	40.	 	OHI Asset (SC) Simpsonville West Broad, LLC	 	Delaware
	41.	 	OHI Asset (SC) Simpsonville West Curtis, LLC	 	Delaware
	42.	 	OHI Asset (TN) Bartlett, LLC	 	Delaware
	43.	 	OHI Asset (TN) Collierville, LLC	 	Delaware
	44.	 	OHI Asset (TN) Memphis, LLC	 	Delaware
	45.	 	OHI Asset (TX) Anderson, LLC	 	Delaware
	46.	 	OHI Asset (TX) Bryan, LLC	 	Delaware
	47.	 	OHI Asset (TX) Burleson, LLC	 	Delaware
	48.	 	OHI Asset (TX) College Station, LLC	 	Delaware
	49.	 	OHI Asset (TX) Comfort, LLC	 	Delaware
	50.	 	OHI Asset (TX) Diboll, LLC	 	Delaware
	51.	 	OHI Asset (TX) Granbury, LLC	 	Delaware
	52.	 	OHI Asset (TX) Italy, LLC	 	Delaware
	53.	 	OHI Asset (TX) Winnsboro, LLC	 	Delaware
	54.	 	OHI Asset (UT) Ogden, LLC	 	Delaware
	55.	 	OHI Asset (UT) Provo, LLC	 	Delaware
	56.	 	OHI Asset (UT) Roy, LLC	 	Delaware
	57.	 	OHI Asset (VA) Charlottesville, LLC	 	Delaware
	58.	 	OHI Asset (VA) Farmville, LLC	 	Delaware
	59.	 	OHI Asset (VA) Hillsville, LLC	 	Delaware
	60.	 	OHI Asset (VA) Rocky Mount, LLC	 	Delaware
	61.	 	OHI Asset (WA) Battle Ground, LLC	 	Delaware
	62.	 	OHI Asset RO PMM Services, LLC	 	Delaware
	63.	 	OHI Asset (AZ) Austin House, LLC	 	Delaware

 

    	 

    	 

     

SCHEDULE 7.01

 

LIENS

 

Braswell Indebtedness

 

    	 

    	 

      

SCHEDULE 7.2

 

INDEBTEDNESS

 

UNSECURED INDEBTEDNESS

 

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	7 1/2% Senior Notes due 2020	 	Omega Healthcare Investors, Inc.	 	2/15/2020	 	 	7.500	%	 	 	200,000,000	 
	6 3/4% Senior Notes due 2022	 	Omega Healthcare Investors, Inc.	 	10/15/2022	 	 	6.750	%	 	 	575,000,000	 
	5 7/8% Senior Notes due 2024	 	Omega Healthcare Investors, Inc.	 	3/15/2024	 	 	5.875	%	 	 	400,000,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	9% Delta Subordinated Promissory Note due 2021	 	OHI Asset HUD Delta, LLC	 	12/21/2021	 	 	9.00	%	 	 	4,000,000	 
	9% Delta Subordinated Promissory Note due 2021	 	OHI Asset HUD Delta, LLC	 	12/21/2021	 	 	9.00	%	 	 	4,000,000	 
	9% Delta Subordinated Promissory Note due 2021	 	OHI Asset HUD Delta, LLC	 	12/21/2021	 	 	9.00	%	 	 	4,000,000	 
	9% Delta Subordinated Promissory Note due 2021	 	OHI Asset HUD Delta, LLC	 	12/21/2021	 	 	9.00	%	 	 	4,000,000	 
	9% Delta Subordinated Promissory Note due 2021	 	OHI Asset HUD Delta, LLC	 	12/21/2021	 	 	9.00	%	 	 	4,000,000	 

 

SECURED INDEBTEDNESS

 

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	Airamid - Hearthstone Properties	 	 	 	 	 	 	 	 	 	 	 	 
	Department of Housing and Urban Development Note	 	CHR Bartow LLC (The Bartow Convalescent Center)	 	1/1/2045	 	 	4.85	%	 	 	4,725,330.42	 
	Department of Housing and Urban Development Note	 	CHR St. Pete Egret LLC (Egret Cove Center)	 	1/1/2040	 	 	4.85	%	 	 	3,296,964.22	 
	Department of Housing and Urban Development Note	 	CHR Fort Walton Beach LLC (Emerald Coast)	 	1/1/2040	 	 	4.85	%	 	 	4,893,557.06	 
	Department of Housing and Urban Development Note	 	CHR Lakeland LLC (Lakeland Hills Center)	 	1/1/2045	 	 	4.85	%	 	 	7,502,070.57	 
	Department of Housing and Urban Development Note	 	CHR Tarpon Springs LLC (Tarpon Bayou Center)	 	1/1/2040	 	 	4.85	%	 	 	3,775,941.99	 
	Department of Housing and Urban Development Note	 	CHR Lake Wales LLC (The Groves Center)	 	1/1/2045	 	 	4.85	%	 	 	7,997,337.34	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Gulfport LLC (Boca Ciega)	 	Provide Additional Collateral support via a boot collateral mortgage to secure the property specific Hearthstone property HUD loans listed above	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Deland East LLC (University East)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Deland West LLC (University West)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Clearwater LLC (Clearwater)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Panama City LLC (Bay Center)	 	 

 

    	 

    	 

     

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	Airamid - FILTC Properties	 	 	 	 	 	 	 	 	 	 	 	 
	Department of Housing and Urban Development Note	 	CHR Boca Raton LLC (Boca Raton Rehabilitation Center)	 	1/1/2040	 	 	4.85	%	 	 	5,061,199.32	 
	Department of Housing and Urban Development Note	 	CHR Bradenton LLC (Casa Mora Rehab & Extended Care)	 	1/1/2040	 	 	4.85	%	 	 	7,496,003.37	 
	Department of Housing and Urban Development Note	 	CHR Cape Coral LLC (Rehabilitation and Health Center of Cape Coral)	 	1/1/2045	 	 	4.85	%	 	 	10,059,594.98	 
	Department of Housing and Urban Development Note	 	CHR Fort Myers LLC (Colonial Oaks Rehab Center aka Winkler Court)	 	1/1/2045	 	 	4.85	%	 	 	7,335,676.70	 
	Department of Housing and Urban Development Note	 	CHR Pompano Beach Broward LLC (North Broward Rehab & Nursing Center)	 	1/1/2045	 	 	4.85	%	 	 	7,924,265.24	 
	Department of Housing and Urban Development Note	 	CHR Pompano Beach LLC (Pompano Rehab/Nursing Center)	 	1/1/2040	 	 	4.85	%	 	 	5,156,994.65	 
	Department of Housing and Urban Development Note	 	CHR Sanford LLC (Healthcare and Rehabilitation Center of Sanford)	 	1/1/2040	 	 	4.85	%	 	 	6,114,950.68	 
	Department of Housing and Urban Development Note	 	CHR Spring Hill LLC (Evergreen Woods Health & Rehabilitation)	 	1/1/2045	 	 	4.85	%	 	 	11,480,441.78	 
	Department of Housing and Urban Development Note	 	CHR St. Pete Bay LLC (Bay Pointe Nursing Pavilion)	 	1/1/2045	 	 	4.85	%	 	 	5,562,937.18	 
	Department of Housing and Urban Development Note	 	CHR Tampa Carrollwood LLC (Carrollwood Care Center)	 	1/1/2045	 	 	4.85	%	 	 	8,719,939.31	 
	Department of Housing and Urban Development Note	 	CHR Tampa LLC (Rehabilitation and Healthcare Center of Tampa)	 	1/1/2045	 	 	4.85	%	 	 	11,262,180.37	 
	Department of Housing and Urban Development Note	 	CHR Titusville LLC (Titusville Rehabilitation and Nursing Center)	 	1/1/2040	 	 	4.85	%	 	 	4,741,880.67	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR West Palm Beach LLC (Palm Beaches)	 	Provide Additional Collateral support via a boot collateral mortgage to secure the property specific FILTC property HUD loans listed above	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Sarasota LLC (Waldamere)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Hudson LLC (Windsor Woods)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR St. Pete Abbey LLC (The Abbey)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Clearwater Highland LLC (Highland Pines)	 	 
	Department of Housing and Urban Development Additional Mortgage	 	CHR Clearwater Highland LLC (Highland Terrace)	 	 

 

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	CFG - Arkansas Properties	 	 	 	 	 	 	 	 	 	 	 	 
	Department of Housing and Urban Development Note	 	700 Mark Drive, LLC (Southern Heritage)	 	7/1/2044	 	 	3.20	%	 	 	2,352,067.53	 
	Department of Housing and Urban Development Note	 	1194 North Chester Street, LLC (The Woods at Monticello)	 	7/1/2044	 	 	3.00	%	 	 	5,302,588.69	 
	Department of Housing and Urban Development Note	 	1149 & 1151 West New Hope Road, LLC (New Hope)	 	7/1/2044	 	 	3.00	%	 	 	4,447,671.61	 
	Department of Housing and Urban Development Note	 	228 Pointer Trail West, LLC (Pointer Trail)	 	7/1/2044	 	 	3.09	%	 	 	5,259,925.78	 

 

    	 

    	 

     

	Department of Housing and Urban Development Note	 	900 Magnolia Road SW, LLC (Pine Hills)	 	7/1/2044	 	 	3.20	%	 	 	1,950,432.07	 
	Department of Housing and Urban Development Note	 	1101 Waterwell Road, LLC (Pinewood)	 	7/1/2044	 	 	3.20	%	 	 	4,863,380.32	 
	Department of Housing and Urban Development Note	 	115 Orendorff Avenue, LLC (Apple Ridge)	 	7/1/2044	 	 	3.20	%	 	 	4,629,522.91	 
	Department of Housing and Urban Development Note	 	1040 Wedding Ford Road, LLC (Seven Springs)	 	7/1/2044	 	 	3.00	%	 	 	2,857,658.75	 
	Department of Housing and Urban Development Note	 	202 Tims Avenue, LLC (Bristol Pointe)	 	7/1/2044	 	 	3.00	%	 	 	9,290,813.02	 
	Department of Housing and Urban Development Note	 	1401 Park Avenue, LLC (Canyon Springs)	 	7/1/2044	 	 	3.00	%	 	 	6,065,755.14	 
	Department of Housing and Urban Development Note	 	3600 Richards Road, LLC (Premier)	 	7/1/2044	 	 	3.00	%	 	 	6,637,386.11	 
	Department of Housing and Urban Development Note	 	2701 Twin Rivers Drive, LLC (Courtyard Gardens)	 	7/1/2044	 	 	3.09	%	 	 	5,222,427.15	 

 

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	S&F Management	 	 	 	 	 	 	 	 	 	 	 	 
	Department of Housing and Urban Development Note	 	G&L Gardens, LLC	 	2/1/2040	 	 	4.75	%	 	 	5,721,437.48	 
	Department of Housing and Urban Development Note	 	Palm Valley Senior Care, LLC	 	2/1/2045	 	 	4.57	%	 	 	14,853,382.25	 
	Department of Housing and Urban Development Note	 	Ridgecrest Senior Care, LLC	 	11/1/2044	 	 	5.07	%	 	 	6,661,439.61	 
	Department of Housing and Urban Development Note	 	3232 Artesia Real Estate, LLC (Long Beach)	 	3/1/2041	 	 	4.35	%	 	 	8,862,990.52	 
	Department of Housing and Urban Development Note	 	Golden Hill Real Estate Company, LLC	 	3/1/2038	 	 	6.81	%	 	 	5,799,757.23	 
	Department of Housing and Urban Development Note	 	11900 East Artesia Boulevard, LLC (Artesia)	 	7/1/2039	 	 	5.95	%	 	 	14,991,023.12	 
	Department of Housing and Urban Development Note	 	2400 Parkside Drive, LLC (Freemont)	 	3/1/2041	 	 	6.75	%	 	 	10,917,845.41	 
	Department of Housing and Urban Development Note	 	1628 B Street, LLC (Hayward)	 	4/1/2031	 	 	6.45	%	 	 	3,155,681.74	 

 

	Description	 	Current Obligor	 	Maturity Date	 	Interest Rate	 	 	Current

Balance @

09/30/2013	 
	White Oak	 	 	 	 	 	 	 	 	 	 	 	 
	Department of Housing and Urban Development Note	 	PV Realty-Clinton, LLC (Clinton)	 	4/1/2036	 	 	4.90	%	 	 	17,837,336.24	 
	Department of Housing and Urban Development Note	 	PV Realty-Kensington, LLC (Kensington)	 	3/1/2036	 	 	4.95	%	 	 	7,392,315.59	 
	Department of Housing and Urban Development Note	 	PV Realty-Willow Tree, LLC (Willow Tree)	 	9/1/2040	 	 	4.58	%	 	 	3,468,230.98	 

 

    	 

    	 

     

SCHEDULE 7.03

 

INVESTMENTS

 

On October 20, 2006, Advocat Inc. (“Advocat”) issued
to Omega Healthcare Investors, Inc. (“Omega”) 5,000 shares of Series C Preferred Stock with a stated value, as of the
issued date, of approximately $4.9 million and carries an annual dividend rate of 7% of its stated value. The Series C Preferred
Stock pays quarterly cash dividends. The Series C Preferred Stock is not convertible, but is redeemable at its stated value at
Omega’s option after September 30, 2010, and is redeemable at its stated value at Advocat’s option after September
30, 2007, subject to certain limitations.

 

    	 

    	 

     

SCHEDULE 7.09

 

NEGATIVE PLEDGES

 

None

 

    	 

    	 

     

SCHEDULE 10.02

 

NOTICE ADDRESSES

 

Credit Parties:

 

Omega Healthcare Investors, Inc.

200 International Circle, Suite 3500

Hunt Valley, Maryland 21030

	Attention:	Daniel J. Booth
	Telephone:	(410) 427-1724
	Facsimile:	(410) 427-8824
	Website:	www.omegahealthcare.com

 

with a copy to:

 

Kaye Scholer LLP

425 Park Avenue

New York, New York 10022

	Attention:	John R. Fallon, Jr., Esq.
	Telephone:	(212) 836-8702
	Facsimile:	(212) 836-6802

 

Administrative Agent:

 

For payments and Requests for Credit Extensions:

 

Bank of America, N.A.

101 North Tryon Street

Mail Code: NC1-001-04-39

Charlotte, North Carolina 28255-0001

	Attention:	Jean Hood
	Telephone:	(980) 388-9114
	Facsimile:	(704) 719-8162
	Electronic Mail:	jean.hood@baml.com
	ABA #:	026009593
	Account No.:	1366212250600
	Reference:	Omega Healthcare Investors, Inc.

 

For all other Notices:

 

Bank of America, N.A.

Global Corporate Debt Products

100 N. Tryon Street

Mail Code: NC1 -007-17-11

Charlotte, NC 28255

Attention: Yinghua Zhang

Telephone: 980-387-5915

Telecopier: 312-453-2722

Electronic Mail: yinghua.zhang@baml.com

 

    	 

    	 

     

with a copy to:

 

Bank of America, N.A.

Agency Management

1455 Market Street

Mail Code: CA5-701-05-19

San Francisco, California 94103-1399

	Attention:	Angela Lau
	Telephone:	(415) 436-4000
	Facsimile:	(415) 503-5008
	Electronic Mail:	angela.lau@baml.com

 

Lenders:

 

Contact information on file with the Administrative Agent.

 

    	 

    	 

     

Exhibit A

 

FORM OF LOAN NOTICE

 

Date: __________, 20__

 

	To:	 	Bank of America, N.A., as Administrative Agent
	 	 	 
	Re:	 	Credit Agreement (as amended, modified, supplemented and extended from time to time, the “Credit Agreement”), dated as of December 27, 2013, by and among Omega Healthcare Investors, Inc., a Maryland corporation (the “Borrower”), the Guarantors (as defined therein), the Lenders identified therein, and Bank of America, N.A., as Administrative Agent. Capitalized terms used but not otherwise defined herein have the meanings provided in the Credit Agreement.

  

Ladies and Gentlemen:

 

The undersigned hereby requests (select one):

 

	A Borrowing	A continuation	A conversion

 

of Term Loans:

 

	 	1.	On: _______________, 20__ (which is a Business Day).
	 	 	 
	 	2.	In the amount of: ___________________.
	 	 	 
	 	3.	Comprised of: ________________ (Type of Loan).
	 	 	 
	 	4.	For Eurodollar Loans: with an Interest Period of ______________ months.

 

With respect to any Borrowing or any conversion
or continuation requested herein, the Borrower hereby represents and warrants that (i) in the case of a Borrowing of Term Loans,
such request complies with the requirements of Section 2.01(a) of the Credit Agreement and (ii) in the case of a Borrowing
or any conversion or continuation, each of the conditions set forth in Section 2.02 of the Credit Agreement have been satisfied
on and as of the date of such Borrowing or such conversion or continuation.

 

	 	OMEGA HEALTHCARE INVESTORS, INC., 
	 	a Maryland corporation 

 

	 	By:	 	 

	 	Name:
	 	Title:

 

    	 

    	 

     

Exhibit B

 

FORM OF TERM NOTE

 

_____________, 20__

 

FOR VALUE RECEIVED, the undersigned (the “Borrower”),
hereby promises to pay to [INSERT LENDER] or its registered assigns (the “Lender”), in accordance with
the terms and conditions of the Credit Agreement (as hereinafter defined), the principal amount of each Term Loan from time to
time made by the Lender to the Borrower under that certain Credit Agreement (as amended, modified, supplemented and extended from
time to time, the “Credit Agreement”), dated as of December 27, 2013, by and among the Borrower, the Guarantors,
the Lenders identified therein and Bank of America, N.A., as Administrative Agent. Capitalized terms used but not otherwise defined
herein have the meanings provided in the Credit Agreement.

 

The Borrower promises to pay interest on the
unpaid principal amount of each Term Loan from the date of such Term Loan until such principal amount is paid in full, at such
interest rates and at such times as provided in the Credit Agreement. All payments of principal and interest shall be made to the
Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s
Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from
the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set
forth in the Credit Agreement.

 

This Note is one of the Notes referred to in
the Credit Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions
provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Credit Agreement,
all amounts then remaining unpaid on this Note, upon written notice to the Borrower, may be declared to be, immediately due and
payable all as provided in the Credit Agreement. Term Loans made by the Lender may be evidenced by one or more loan accounts or
records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Note and endorse
thereon the date, amount and maturity of its Term Loans and payments with respect thereto.

 

Except as otherwise provided for in the Credit
Agreement, the Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice
of protest, demand, dishonor and nonpayment of this Note.

 

    	 

    	 

     

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

 

	 	OMEGA HEALTHCARE INVESTORS, INC.,
	 	a Maryland corporation

 

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

 

    	 

    	 

     

Exhibit C

 

FORM OF COMPLIANCE CERTIFICATE

 

Financial Statement Date: __________, 20__ 

 

	 	To:	Bank of America, N.A., as Administrative Agent
	 	 	 
	 	Re:	Credit Agreement (as amended, modified, supplemented and extended from time to time, the “Credit Agreement”), dated as of December 27, 2013, by and among Omega Healthcare Investors, Inc., a Maryland corporation (the “Borrower”), the Guarantors, the Lenders identified therein, and Bank of America, N.A., as Administrative Agent. Capitalized terms used but not otherwise defined herein have the meanings provided in the Credit Agreement.

 

Ladies and Gentlemen:

 

The undersigned Responsible Officer of the
Borrower hereby certifies as of the date hereof that [he/she] is the _______________ of the Borrower, and that, in [his/her] capacity
as such, [he/she] is authorized to execute and deliver this Compliance Certificate to the Administrative Agent on the behalf of
the Borrower, and that:

 

[Use following paragraph 1 for fiscal year-end financial statements:]

 

[1.          Attached
hereto as Schedule 1 is the Form 10-K of the Borrower as required by Section 6.01(a) of the Credit Agreement for
the fiscal year of the Borrower ended as of the above date.]

 

[Use following paragraph 1 for fiscal quarter-end financial statements:]

 

[1.          Attached
hereto as Schedule 1 is the Form 10-Q of the Borrower, as required by Section 6.01(b) of the Credit Agreement for
the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly present the financial condition,
results of operations and cash flows of the Consolidated Parties in accordance with GAAP as at such date and for such period, subject
only to normal year-end audit adjustments and the absence of footnotes.]

 

2.           The
undersigned has reviewed and is familiar with the terms of the Credit Agreement and has made, or has caused to be made, a review
of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by the attached
financial statements.

 

3.           A
review of the activities of each member of the Credit Parties during such fiscal period has been made under the supervision of
the undersigned with a view to determining whether during such fiscal period the Credit Parties have performed and observed in
all material respects all their respective Obligations under the Credit Documents, and

 

[select one:]

 

[to the best knowledge of the undersigned Responsible
Officer during such fiscal period, each of the Credit Parties has performed and observed in all material respects each covenant
and condition of the Credit Documents applicable to it.]

 

[or:]

 

    	 

    	 

     

[the following covenants or conditions of the
Credit Documents have not been performed or observed in all material respects and the following is a list of any Default and its
nature and status:]

 

4.           The
representations and warranties of the Credit Parties contained in the Credit Agreement, any other Credit Document or any other
certificate or document furnished at any time under or in connection with the Credit Documents, are true and correct in all material
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.

 

5.           The
financial covenant analyses and information set forth on Schedule 2 hereto are true and accurate in all material respects
on and as of the date of this Compliance Certificate.

 

IN WITNESS WHEREOF, the undersigned has executed
this Compliance Certificate as of __________, 20__.

 

	 	OMEGA HEALTHCARE INVESTORS, INC., 
	 	a Maryland corporation 
	 	 

	 	By:	 	 

	 	Name:
	 	Title:

 

    	 

    	 

     

Exhibit D

 

FORM OF ASSIGNMENT AND
ASSUMPTION

 

This Assignment
and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered
into by and between [the][each]1 Assignor identified in item 1 below ([the][each,
an] “Assignor”) and [the][each]2 Assignee identified in item
2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the
Assignees] hereunder are several and not joint.]3 Capitalized terms used but not
defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions
set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment
and Assumption as if set forth herein in full.

 

For an agreed consideration, [the][each] Assignor
hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases
and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions
and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the
respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under
the Credit Agreement and any other documents or instruments delivered pursuant thereto in the amount[s] and equal to the
percentage interest[s] identified below of all the outstanding rights and obligations under the respective facilities identified
below (including, without limitation, the Letters of Credit and the Swing Line Loans included in such facilities) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor
(in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether
known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not
limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related
to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any]
Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned
Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided
in this Assignment and Assumption, without representation or warranty by [the][any] Assignor.

 

	 	1.	Assignor[s]:	________________________________
	 	 	 	[Assignor [is][is not] a Defaulting Lender.]
	 	 	 	 
	 	2.	Assignee[s]:	________________________________
	 	 	 	[for each Assignee, indicate [Affiliate][Approved Fund] of 

[identify Lender]]

 

 

1For
bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose
the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language.

2For
bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose
the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language.

3Include
bracketed language if there are either multiple Assignors or multiple Assignees.

 

    	 

    	 

     

	 	3.	Borrower:	Omega Healthcare Investors, Inc., a Maryland corporation (the “Borrower”)
	 	 	 	 
	 	4.	Administrative Agent:	Bank of America, N.A., as the Administrative Agent under the Credit Agreement
	 	 	 	 
	 	5.	Credit Agreement:	The Credit Agreement dated as of December ___, 2013, by and among the Borrower, the Guarantors party thereto, the Lenders party thereto and Bank of America, N.A., as Administrative Agent
	 	 	 	 
	 	6.	Assigned Interest[s]:	 

 

	Assignor[s]4	 	 	Assignee[s]5	 	 	Facility

Assigned6	 	 	Aggregate

Amount of
 Commitment/Loans

for all Lenders7	 	 	Amount of

Commitment/

Loans
 Assigned	 	 	Percentage

Assigned of
 Commitment/

Loans8	 	 	CUSIP

Number	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	____________	 	 	$	________________	 	 	$	__________	 	 	 	____________	%	 	 	 	 
	 	 	 	 	 	 	 	 	 	____________	 	 	$	________________	 	 	$	__________	 	 	 	____________	%	 	 	 	 
	 	 	 	 	 	 	 	 	 	____________	 	 	$	________________	 	 	$	__________	 	 	 	____________	%	 	 	 	 

 

	 	[7.	Trade Date:	__________________]9
	 	 	 	 
	 	8.	Effective
Date:	__________________, 20__ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.]

 

 

 

4List
each Assignor, as appropriate.

5
List each Assignee and, if available, its market entity identifier, as appropriate.

6
Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment
(e.g. “Term Loan Commitment”, etc.).

7
Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any
payments or prepayments made between the Trade Date and the Effective Date.

8
Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

9 To
be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date.

 

    	 

    	 

     

The terms set forth in this Assignment and Assumption
are hereby agreed to:

 

	ASSIGNOR[S]:10	[NAME OF ASSIGNOR]
	 	 

	 	By:	 

	 	Name:
	 	Title:

 

	 	[NAME OF ASSIGNOR]
	 	 

	 	By:	 

	 	Name:
	 	Title:

 

	ASSIGNEE[S]:11	[NAME OF ASSIGNEE]
	 	 

	 	By:	 

	 	Name:
	 	Title:

 

	 	[NAME OF ASSIGNEE]
	 	 

	 	By:	 

	 	Name:
	 	Title:

 

 

10
Add additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable).

11Add
additional signature blocks as needed. Include both Fund/Pension Plan and manager making the trade (if applicable).

 

    	 

    	 

     

	[Consented to and]12  Accepted:	 
	 	 
	BANK OF AMERICA, N.A., as Administrative Agent	 
	 	 

	By:	 	 

	Name:	 
	Title:	 
	 	 
	[Consented to:]13	 
	 	 
	OMEGA HEALTHCARE INVESTORS, INC.	 
	a Maryland corporation	 
	 	 

	By:	 	 

	Name:	 
	Title:	 

 

 

 

12
To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement.

13
To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.

 

    	 

    	 

     

Annex 1 to Assignment and Assumption

 

STANDARD TERMS AND CONDITIONS

 

1.         Representations
and Warranties.

 

1.1.      Assignor.  [The][Each]
Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the][[the relevant] Assigned Interest, (ii)
[the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated
hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties
or representations made in or in connection with the Credit Agreement or any other Credit Document, (ii) the execution, legality,
validity, enforceability, genuineness, sufficiency or value of the Credit Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Credit Document
or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their
respective obligations under any Credit Document.

 

1.2.      Assignee.  [The][Each]
Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 10.07(b)(iii) and (v) of the
Credit Agreement (subject to such consents, if any, as may be required under Section 10.07(b)(iii) of the Credit Agreement),
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and,
to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated
with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person
exercising discretion in making its decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such
type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies
of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents
and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption
and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or
any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision
to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender,
attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed
and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative
Agent, [the][any] Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the Credit Documents are required to be performed by
it as a Lender.

 

2.         Payments.  From
and after the Effective Date, the Administrative Agent shall make all payments in respect of [the][each] Assigned Interest (including
payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but
excluding the Effective Date and to [the][the relevant] Assignee for amounts which have accrued from and after the Effective Date.
Notwithstanding the foregoing, the Administrative Agent shall make all payments of

 

    	 

    	 

     

interest, fees or other amounts paid or payable
in kind from and after the Effective Date to [the][the relevant] Assignee.

 

3.         General
Provisions.  This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto
and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption
by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment
and Assumption shall be governed by, and construed in accordance with, the law of the State of New York, without regard to conflict
of laws principles.

 

    	 

    	 

     

Exhibit
E

 

FORM OF GUARANTY JOINDER AGREEMENT

 

THIS GUARANTY JOINDER
AGREEMENT (this “Agreement”), dated as of _____________, 20__, is by and between [INSERT NEW GUARANTOR],
a [INSERT TYPE OF ORGANIZATION] (the “Subsidiary”), and BANK OF AMERICA, N. A., in its capacity
as Administrative Agent under that certain Credit Agreement (as it may be amended, modified, restated or supplemented from time
to time, the “Credit Agreement”), dated as of December 27, 2013, by and among Omega Healthcare Investors, Inc.
(the “Borrower”), the Guarantors party thereto, the Lenders and Bank of America, N. A., as Administrative Agent.
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

The Credit Parties are
required under the provisions of Section 6.15 of the Credit Agreement to cause the Subsidiary to become a “Guarantor”.

 

Accordingly, the Subsidiary
hereby agrees as follows with the Administrative Agent, for the benefit of the Lenders:

 

1.         The
Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary will be deemed to
be a party to the Guaranty and a “Guarantor” for all purposes of the Guaranty, and shall have all of the obligations
of a Guarantor thereunder as if it had executed the Guaranty. The Subsidiary hereby ratifies, as of the date hereof, and agrees
to be bound by, all of the terms, provisions and conditions applicable to the Guarantor contained in the Guaranty. Without limiting
the generality of the foregoing terms of this paragraph 1, the Subsidiary hereby (i) jointly and severally together with the other
Guarantors, guarantees to each Lender and the Administrative Agent, the prompt payment and performance of the Obligations in full
when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the
terms thereof.

 

2.         The
address of the Subsidiary for purposes of all notices and other communications is described on Schedule 10.02 of the Credit
Agreement.

 

3.         The
Subsidiary hereby waives acceptance by the Administrative Agent and the Lenders of the guaranty by the Subsidiary upon the execution
of this Agreement by the Subsidiary.

 

4.         This
Agreement may be executed in one or more counterparts, each of which shall constitute an original but all of which when taken together
shall constitute one contract.

 

5.         This
Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York, without regard
to conflict of laws principles.

 

IN WITNESS WHEREOF, the
Subsidiary has caused this Guaranty Joinder Agreement to be duly executed by its authorized officer, and the Administrative Agent,
for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above
written.

 

	 	[INSERT NEW GUARANTOR]
	 	 

	 	By:	 

	 	Name:	 

	 	Title:	 

 

    	 

    	 

     

	 	Acknowledged and accepted:
	 	 
	 	BANK OF AMERICA, N.A., 
	 	as Administrative Agent
	 	 

	 	By:	 

	 	Name:	 

	 	Title:	 

 

    	 

    	 

     

Exhibit
F

 

FORM OF LENDER JOINDER AGREEMENT

 

THIS LENDER JOINDER AGREEMENT
(this “Agreement”) dated as of __________, 20__ to the Credit Agreement referenced below is by and among [INSERT
NEW LENDER] (the “New Lender”), Omega Healthcare Investors, Inc., a Maryland corporation (the “Borrower”)
and Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders.
All of the defined terms of the Credit Agreement are incorporated herein by reference.

 

W I T N E S S E T H

 

WHEREAS, pursuant to that
Credit Agreement dated as of December 27, 2013 (as amended and modified from time to time, the “Credit Agreement”),
by and among the Borrower, the Guarantors, the Lenders and the Administrative Agent, the Lenders have agreed to provide the Borrower
with a revolving credit facility;

 

WHEREAS, pursuant to Section
2.01(e) of the Credit Agreement, the Borrower has requested that the New Lender provide an Incremental Facility Commitment
in connection with an Incremental Term Loan Facility under the Credit Agreement; and

 

WHEREAS, the New Lender
has agreed to provide the additional Term Loan Commitment on the terms and conditions set forth herein and to become a “Lender”
under the Credit Agreement in connection therewith;

 

NOW, THEREFORE, IN CONSIDERATION
of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

1.         The
New Lender hereby agrees to provide Term Loan Commitments to the Borrower in the amounts set forth on Schedule 2.01 to the
Credit Agreement as attached hereto. The Term Loan Commitment Percentage of the New Lender shall be as set forth on Schedule
2.01.

 

2.         The
New Lender (a) represents and warrants that it is a commercial lender, other financial institution or other “accredited”
investor (as defined in SEC Regulation D) that makes or acquires loans in the ordinary course of business and that it will make
or acquire Loans for its own account in the ordinary course of business, (b) confirms that it has received a copy of the Credit
Agreement, together with copies of the financial statements referred to in Section 6.01 thereof and such other documents
and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (c) agrees
that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Credit Agreement; (d) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and
to exercise such powers and discretion under the Credit Agreement as are delegated to the Administrative Agent by the terms thereof,
together with such powers and discretion as are reasonably incidental thereto; and (e) agrees that, as of the date hereof, the
New Lender shall (i) be a party to the Credit Agreement and the other Credit Documents, (ii) be a “Lender” for all
purposes of the Credit Agreement and the other Credit Documents, (iii) perform all of the obligations that by the terms of the
Credit Agreement are required to be performed by it as a “Lender” under the Credit Agreement and (iv) shall have the
rights and obligations of a Lender under the Credit Agreement and the other Credit Documents.

 

    	 

    	 

     

3.         The
Borrower and each of the Guarantors agree that, as of the date hereof, the New Lender shall (i) be a party to the Credit Agreement
and the other Credit Documents, (ii) be a “Lender” for all purposes of the Credit Agreement and the other Credit Documents,
and (iii) have the rights and obligations of a Lender under the Credit Agreement and the other Credit Documents.

 

4.         The
address of the New Lender for purposes of all notices and other communications is __________________, __________________________,
Attention of ______________ (Facsimile No. _______________).

 

5.         This
Agreement may be executed in any number of counterparts and by the various parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one contract. Delivery of an
executed counterpart of this Agreement by telecopier shall be effective as delivery of a manually executed counterpart of this
Agreement.

 

6.         This
Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of New York, without regard
to conflict of laws principles.

 

    	 

    	 

     

IN WITNESS WHEREOF, each of the parties hereto
has caused this Lender Joinder Agreement to be executed by a duly authorized officer as of the date first above written.

 

	NEW LENDER:	[INSERT NEW LENDER], 	 
	 	as New Lender	 
	 	 	 

	 	By:	 	 

	 	Name:	 	 
	 	Title:	 	 

 

	BORROWER:	Omega Healthcare Investors, Inc. 	 
	 	 	 

	 	By:	 	 

	 	Name: 	Daniel J. Booth	 
	 	Title:	Chief Operating Officer	 

 

Accepted and Agreed:

 

BANK OF AMERICA, N.A.,

as Administrative Agent

 

	By:	 	 

	Name:	 
	Title:New Controller PR

		
			 
		

		
			 
		

		
			Frontier Communications
		

		
			3 High Ridge Park
		

		
			Stamford, CT 06905
		

		
			203.614.5600
		

		
			www.frontier.com
		

		
			 
		

		
			 
		

		
			 
		

		
			Frontier Communications Appoints Jennifer E. Lem 
		

		
			Senior Vice President and Controller
		

		
			 
		

		
			STAMFORD, Conn., January 6, 2014 – Frontier Communications Corporation (NASDAQ: FTR) announced that Jennifer E. Lem joined the company today as Senior Vice President and Controller and will serve as the company’s designated chief accounting officer. She reports to John M. Jureller, Executive Vice President and Chief Financial Officer, and is based at corporate headquarters in Stamford, Connecticut. 
		

		
			 
		

		
			Most recently, Ms. Lem was Assistant Corporate Controller at International Flavors and Fragrances Corporation from 2011 to July 2012.  From 2005 to 2011, she was Assistant Corporate Controller at Loews Corporation.  Before joining Loews, Ms. Lem held various financial positions with HLTH Corporation, Onsite Access Inc., Meldisco, The Perrier Group of America, PepsiCo Inc., Primerica Corporation and was a Senior Accountant with Ernst & Young LLP (then Ernst & Whinney).  She is a certified public accountant and received a B.S. degree in Accounting from Boston College. 
		

		
			 
		

		
			Mr. Jureller said, “Jennifer’s expertise in public accounting, SEC reporting and compliance, and operational execution make her an ideal addition to our company, especially in light of our recent  agreement to acquire AT&T’s wireline operations in Connecticut.  Her experience helps to fortify our financial leadership team at an exciting stage in our company’s growth.”  
		

		
			 
		

		
			About Frontier Communications
		

		
			Frontier Communications Corporation (NASDAQ: FTR) offers broadband, voice, video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses and home offices and advanced communications for medium and large businesses in 27 states.  Frontier's approximately 13,900 employees are based entirely in the United States. More information is available at www.frontier.com.
		

		
			 
		

		
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						INVESTOR CONTACT:

					
					
						 

					
					
						 

					
					
						 

					
						MEDIA CONTACT:

				
	
					
						Luke Szymczak

					
					
						 

					
					
						 

					
					
						Brigid Smith

				
	
					
						Vice President, Investor Relations

					
					
						 

					
					
						 

					
					
						AVP, Corp. Comm.

				
	
					
						(203) 614-5044

					
					
						 

					
					
						 

					
					
						(203) 614-5042

				
	
					
						luke.szymczak@ftr.com

					
					
						 

					
					
						 

					
					
						brigid.smith@ftr.com

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