Document:

dksr_ex106.htm

EXHIBIT 10.6

ESCROW AGREEMENT

This ESCROW AGREEMENT (this “Agreement”) made as of the 13th day of November 2012, by and among Darkstar Ventures, Inc. (the “Issuer”) whose address and other information appear on the Information Sheet (as defined herein) attached to this Agreement, and VStock Transfer, LLC, 77 Spruce Street, Suite 201, Cedarhurst, NY 11516 (the “Escrow Agent”).

 

WITNESSETH:

WHEREAS, the Issuer proposes to sell up to $3,400,000 (the “Offering Amount”) of the Issuer’s shares of common stock (the “Securities”) to investors (the subscribers of the Securities pursuant to this offering are hereinafter referred to as “Investors”), in a public offering with respect to the minimum offering of $24,990 and the maximum offering of up to $3,400,000 (the “Offering”);

 

WHEREAS, the Issuer proposes to establish an escrow account (the “Escrow Account”), to which subscription monies which are received by the Escrow Agent from the Issuer in connection with such private offering are to be credited, and the Escrow Agent is willing to establish the Escrow Account on the terms and subject to the conditions hereinafter set forth; and

 

WHEREAS, the Escrow Agent has agreed to establish a special bank account at Citibank, N.A. (the “Bank”) into which the subscription monies, which are received by the Escrow Agent from Issuer and credited to the Escrow Account, are to be deposited.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto hereby agree as follows:

 

1.            Information Sheet.  Each capitalized term not otherwise defined in this Agreement shall have the meaning set forth for such term on the information sheet which is attached to this Agreement as Exhibit A and is incorporated by reference herein and made a part hereof (the “Information Sheet”).

 

2.            Establishment of the Bank Account.

2.1           The Escrow Agent shall establish a non-interest-bearing bank account at the branch of Bank selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”).  The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks or wire transfers) which are received by the Issuer from prospective purchasers of the Securities and are delivered by the Issuer to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system and (c) the disbursement of collected funds, all as described herein.

 

2.2           On or before the date of the initial deposit in the Bank Account pursuant to this Agreement, the Issuer shall notify the Escrow Agent in writing of the date of the commencement of the Offering (the “Effective Date”), and the Escrow Agent shall not be required to accept any amounts for credit to the Escrow Account or for deposit in the Bank Account prior to its receipt of such notification.

 

  

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2.3           The “Offering Period,” which shall be deemed to commence on the Effective Date, shall consist of the number of calendar days or business days set forth on the Information Sheet.  The Offering Period shall be extended at the Issuer’s discretion (an “Extension Period”) only if the Escrow Agent shall have received written notice thereof prior to the expiration of the Offering Period.  The Extension Period, which shall be deemed to commence on the next calendar day following the expiration of the Offering Period, shall consist of the number of calendar days or business days set forth on the Information Sheet.  The last day of the Offering Period, or the last day of the Extension Period (if the Escrow Agent has received written notice thereof as herein above provided), is referred to herein as the “Termination Date”.  Except as provided in Section 4.3 hereof, after the Termination Date, the Issuer shall not deposit, and the Escrow Agent shall not accept, any additional amounts representing payments by prospective purchasers.

 

3.            Deposits to the Bank Account.

3.1           The Issuer shall promptly deliver to the Escrow Agent all monies which it receives from prospective purchasers of the Securities, which monies shall be in the form of checks or wire transfers, provided however that "Cashiers" checks and "Money Orders" must be in amounts greater than $10,000; Cashiers checks or Money Orders in amounts less than $10,000 shall be rejected by the Escrow Agent.  Upon the Escrow Agent’s receipt of such monies, they shall be credited to the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “___________”  Any check payable other than to the Escrow Agent as required hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient information to do so, then to the Issuer (together with any Subscription Information, as defined below or other documents delivered therewith) by noon of the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered to the Escrow Agent pursuant to the terms of this Agreement.

 

3.2           Promptly after receiving subscription monies as described in Section 3.1, the Escrow Agent shall deposit the same into the Bank Account.  Amounts of monies so deposited are hereinafter referred to as “Escrow Amounts”.  The Escrow Agent shall cause the Bank to process all Escrow Amounts for collection through the banking system.  Simultaneously with each deposit to the Escrow Account, the Issuer shall inform the Escrow Agent in writing of the name and address of the prospective purchaser, the amount of Securities subscribed for by such purchase, and the aggregate dollar amount of such subscription (collectively, the “Subscription Information”).

 

3.3           The Escrow Agent shall not be required to accept for credit to the Escrow Account or for deposit into the Bank Account checks which are not accompanied by the appropriate Subscription Information, which at minimum shall include the name, address, tax identification number and the number of shares/units.  Wire transfers representing payments by prospective purchasers shall not be deemed deposited in the Escrow Account until the Escrow Agent has received in writing the Subscription Information required with respect to such payments.

 

3.4           The Escrow Agent shall not be required to accept in the Escrow Account any amounts representing payments by prospective purchasers, whether by check or wire, except during the Escrow Agent’s regular business hours.

 

  

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3.5           Only those Escrow Amounts, which have been deposited in the Bank Account and which have cleared the banking system and have been collected by the Escrow Agent, are herein referred to as the “Fund.”

 

3.6           If the Offering is terminated before the Termination Date, the Escrow Agent shall refund any portion of the Fund prior to disbursement of the Fund in accordance with Article 4 hereof upon instructions in writing signed by the Issuer.

 

4.            Disbursement from the Bank Account.

4.1           Subject to Section 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the Offering Amount, as indicated by the Subscription Information submitted to the Escrow Agent, then in either such case, the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund.

 

4.2           Subject to Section 4.3 below, if at any time up to the close of regular banking hours on the Termination Date, the Escrow Agent determines that the amount in the Fund represents the sale of the Offering Amount, the Escrow Agent shall promptly notify the Issuer of such fact in writing.  The Escrow Agent shall promptly disburse the Fund, by drawing checks on the Bank Account in accordance with instructions in writing signed by both the Issuer as to the disbursement of the Fund, promptly after it receives such instructions.

 

4.3           This Section 4.3 applies only if a Collection Period has been provided for by the appropriate indication on the Information Sheet.  If the Escrow Agent or the Issuer has on hand at the close of business on the Termination Date any uncollected amounts which when added to the Fund would raise the amount in the Fund to the Offering Amount and result in the Fund representing the sale of the Offering Amount, the Collection Period (consisting of the number of business days set forth on the Information Sheet) shall be utilized to allow such uncollected amounts to clear the banking system.  During the Collection Period, the Issuer shall not deposit, and the Escrow Agent shall not accept, any additional amounts; provided, however, that such amounts as were received by the Issuer by the close of business on the Termination Date may be deposited with the Escrow Agent by noon of the next business day following the Termination Date.  If at the close of business on the last day of the Collection Period an amount sufficient to raise the amount in the Fund to represent the sale of the Offering Amount shall not have cleared the banking system, the Escrow Agent shall promptly notify the Issuer in writing of such fact and shall promptly return all amounts then in the Fund, and any amounts which thereafter clear the banking system, to the prospective purchasers as provided in Section 4.2 hereof.

 

4.4           Upon disbursement of the Fund pursuant to the terms of this Article 4, the Escrow Agent shall be relieved of further obligations and released from all liability under this Agreement.  It is expressly agreed and understood that in no event shall the aggregate amount of payments made by the Escrow Agent exceed the amount of the Fund.

 

  

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5.            Rights, Duties and Responsibilities of Escrow Agent. It is understood and agreed that the duties of the Escrow Agent are purely ministerial in nature, and that:

 

5.1           The Escrow Agent shall notify the Issuer, on a daily basis, of the Escrow Amounts which have been deposited in the Bank Account and of the amounts, constituting the Fund, which have cleared the banking system and have been collected by the Escrow Agent.

 

5.2           The Escrow Agent shall not be responsible for the performance by the Issuer of its respective obligations under this Agreement.

 

5.3           The Escrow Agent shall not be required to accept from the Issuer any Subscription Information pertaining to prospective purchasers unless such Subscription Information is accompanied by checks or wire transfers meeting the requirements of Section 3.1, nor shall the Escrow Agent be required to keep records of any information with respect to payments deposited by the Issuer except as to the amount of such payments; however, the Escrow Agent shall notify the Issuer within a reasonable time of any discrepancy between the amount set forth in any Subscription Information and the amount delivered to the Escrow Agent therewith.  Such amount need not be accepted for deposit in the Escrow Account until such discrepancy has been resolved.

 

5.4           The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder.  The Escrow Agent, within a reasonable time, shall return to the Issuer any check received which is dishonored, together with the Subscription Information, if any, which accompanied such check.

 

5.5           If the Escrow Agent is uncertain as to its duties or rights hereunder or shall receive instructions with respect to the Bank Account, the Escrow Amounts or the Fund which, in its sole determination, are in conflict either with other instructions received by it or with any provision of this Agreement, it shall be entitled to hold the Escrow Amounts, the Fund, or a portion thereof, in the Bank Account pending the resolution of such uncertainty to the Escrow Agent’s sole satisfaction, by final judgment of a court or courts of competent jurisdiction or otherwise.

 

5.6           The Escrow Agent shall not be liable for any action taken or omitted hereunder, or for the misconduct of any employee, agent or attorney appointed by it, except in the case of willful misconduct or gross negligence.  The Escrow Agent shall be entitled to consult with counsel of its own choosing and shall not be liable for any action taken, suffered or omitted by it in accordance with the advice of such counsel.

 

5.7           The Escrow Agent shall have no responsibility at any time to ascertain whether or not any security interest exists in the Escrow Amounts, the Fund or any part thereof or to file any financing statement under the Uniform Commercial Code with respect to the Fund or any part thereof.

 

  

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6.            Amendment; Resignation or Removal of Escrow Agent.  This Agreement may be altered or amended only with the written consent of the Issuer and the Escrow Agent.  The Escrow Agent may resign and be discharged from its duties hereunder at any time by giving written notice of such resignation to the Issuer specifying a date when such resignation shall take effect and upon delivery of the Fund to the successor escrow agent designated by the Issuer in writing.  Such successor Escrow Agent shall become the Escrow Agent hereunder upon the resignation date specified in such notice.  If the Company fails to designate a successor Escrow Agent within thirty (30) days after such notice, then the resigning Escrow Agent shall promptly refund the amount in the Fund to each prospective purchaser, without interest thereon or deduction.  The Escrow Agent shall continue to serve until its successor accepts the escrow and receives the Fund.  The Company shall have the right at any time to remove the Escrow Agent and substitute a new escrow agent by giving notice thereof to the Escrow Agent then acting.  Upon its resignation and delivery of the Fund as set forth in this Section 6, the Escrow Agent shall be discharged of and from any and all further obligations arising in connection with the escrow contemplated by this Agreement.  Without limiting the provisions of Section 8 hereof, the resigning Escrow Agent shall be entitled to be reimbursed by the Issuer for any expenses incurred in connection with its resignation, transfer of the Fund to a successor escrow agent or distribution of the Fund pursuant to this Section 6.

7.            Representations and Warranties. The Issuer hereby represents and warrants to the Escrow Agent that:

 

7.1           No party other than the parties hereto and the prospective purchasers have, or shall have, any lien, claim or security interest in the Escrow Amounts or the Fund or any part thereof.

 

7.2           No financing statement under the Uniform Commercial Code is on file in any jurisdiction claiming a security interest in or describing (whether specifically or generally) the Escrow Amounts or the Fund or any part thereof.

 

7.3           The Subscription Information submitted with each deposit shall, at the time of submission and at the time of the disbursement of the Fund, be deemed a representation and warranty that such deposit represents a bona fide payment by the purchaser described therein for the amount of Securities set forth in such Subscription Information.

 

7.4           All of the information contained in the Information Sheet is, as of the date hereof, and will be, at the time of any disbursement of the Fund, true and correct.

 

7.5           Reasonable controls have been established and required due diligence performed to comply with "Know Your Customer" regulations, USA Patriot Act, Office of Foreign Asset Control (OFAC) regulations and the Bank Secrecy Act.

 

8.            Fees and Expenses.  The Escrow Agent shall be entitled to the Escrow Agent Fees set forth on the Information Sheet, payable as and when stated therein.  In addition, the Issuer agrees to reimburse the Escrow Agent for any reasonable expenses incurred in connection with this Agreement, including, but not limited to, reasonable counsel fees.

 

  

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9.            Indemnification and Contribution.

9.1           The Issuer (the “Indemnitor”) agrees to indemnify the Escrow Agent and its officers, directors, employees, agents and shareholders (collectively referred to as the “Indemnitees”) against, and hold them harmless of and from, any and all loss, liability, cost, damage and expense, including without limitation, reasonable counsel fees, which the Indemnitees may suffer or incur by reason of any action, claim or proceeding brought against the Indemnitees arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates, unless such action, claim or proceeding is the result of the willful misconduct or gross negligence of the Indemnitees.

 

9.2           If the indemnification provided for in Section 9.1 is applicable, but for any reason is held to be unavailable, the Indemnitor shall contribute such amounts as are just and equitable to pay, or to reimburse the Indemnitees for, the aggregate of any and all losses, liabilities, costs, damages and expenses, including counsel fees, actually incurred by the Indemnitees as a result of or in connection with, and any amount paid in settlement of, any action, claim or proceeding arising out of or relating in any way to any actions or omissions of the Indemnitor.

 

9.3           The provisions of this Article 9 shall survive any termination of this Agreement, whether by disbursement of the Fund, resignation of the Escrow Agent or otherwise.

 

10.           Termination of Agreement.  This Agreement shall terminate on the final disposition of the Fund pursuant to Section 4, provided that the rights of the Escrow Agent and the obligations of the other parties hereto under Section 9 shall survive the termination hereof and the resignation or removal of the Escrow Agent.

 

11.           Governing Law and Assignment.  This Agreement shall be construed in accordance with and governed by the laws of the State of New York, without regard to the conflicts of laws principles thereof, and shall be binding, upon the parties hereto and their respective successors and assigns; provided, however, that any assignment or transfer by any party of its rights under this Agreement or with respect to the Escrow Amounts or the Fund shall be void as against the Escrow Agent unless (a) written notice thereof shall be given to the Escrow Agent; and (b) the Escrow Agent shall have consented in writing to such assignment or transfer.

 

12.           Notices. All notices required to be given in connection with this Agreement shall be sent by registered or certified mail, return receipt requested, or by hand delivery with receipt acknowledged, or by the Express Mail service offered by the United States Postal Service, and addressed, if to the Issuer, at its respective address set forth on the Information Sheet, and if to the Escrow Agent, at its address set forth above, to the attention of the Trust Department.

 

  

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13.           Severability.  If any provision of this Agreement or the application thereof to any person or circumstance shall be determined to be invalid or unenforceable, the remaining provisions of this Agreement or the application of such provision to persons or circumstances other than those to which it is held invalid or unenforceable shall not be affected thereby and shall be valid and enforceable to the fullest extent permitted by law.

 

14.           Execution in Several Counterparts. This Agreement may be executed in several counterparts or by separate instruments and by facsimile transmission, and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

 

15.           Entire Agreement.  This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings (written or oral) of the parties in connection therewith.

 

  

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IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and year first above written.

 

	 	VSTOCK TRANSFER, LLC	 
	 	 	 	 
	 	By:	 
/s/ Yoel Goldfeder

	 
	 	Name:	
Yoel Goldfeder

	 
	 	Title:	CEO	 
	 	 	 	 
	 	
DARKSTAR VENTURES, INC.

	 
	 	 	 	 
	 	By:	
/s/ Chizkyau Lapin

	 
	 	Name:	
Chizkyau Lapin

	 
	 	Title:	CEO	 

 

  

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EXHIBIT A

 

ESCROW AGREEMENT INFORMATION SHEET

 

1.             The Issuer

Name:

Address:

Telephone:

 

2.             The Securities

Description of the Securities to be offered

 

3.             Minimum Amounts and Conditions Required for Disbursement of the Escrow Account

Aggregate dollar amount which must be collected before the Escrow Account may be disbursed to the Issuer:

4.             Plan of Distribution of the Securities

Initial Offering Period:

Extension Period, if any:

 

5.             Title of Escrow Account

“_______”

 

6.             Escrow Agent Fees and Charges

$2,500 payable at Closing.  In addition, the Escrow Agent shall be paid a fee of $500.00 for each additional closing.  Should the Escrow Agent continue for more than one year, the Escrow Agent shall receive a fee of $200.00 per month, payable in advance or the first business day of the month.

 

Distribution charges:

$10.00 per check

$25.00 per wire

$25.00 per check returned (bounced) check

$50.00 lost check replacement fee

 

 

9Exhibit101-FormofAmendment12112

Exhibit 10.1
FIRST AMENDMENT TO 
MASTER LEASE 
(__________ MASTER LEASE)
THIS FIRST AMENDMENT TO MASTER LEASE (the “Agreement”) is made as of December 1, 2012 (the “Effective Date”) by and among ____________________ (“Landlord”); ______________________ (collectively, as “Tenant”); and GENESIS HEALTHCARE LLC, a Delaware limited liability company (“Guarantor”), with reference to the following Recitals:

R E C I T A L S:
A.Landlord and Tenant are parties to that certain Master Lease dated as of November 3, 2010 (as amended, modified or revised, the “Lease”), with respect to those certain ___________ facilities identified therein.  All initially capitalized terms used herein shall have the same meanings given to such terms in the Lease, unless otherwise defined herein.
B.As further described in that certain Consent and Amendment Agreement dated as of June 20, 2012 (as amended, modified or revised, the “Consent”) between the landlords described therein (including Landlord) and Guarantor, effective as of the Effective Date, a subsidiary of Guarantor has merged with Sun Healthcare Group, Inc., a Delaware corporation, which, prior to the Effective Date, was the direct or indirect parent of each Tenant.
C.As further described in the Consent, as a condition to the effectiveness of Landlord’s consent provided therein, Landlord and Tenant are entering into this Agreement to amend and modify the Lease as more particularly described herein.
D.Also as further described in the Consent, as a condition to the effectiveness of Landlord’s consent provided therein, Guarantor is executing and providing to Landlord that certain Guaranty of Master Lease of even date herewith (the “Guaranty”) pursuant to which Guarantor agreed to guarantee the obligations of Tenant under the Lease arising from and after the Commencement Date thereof. 
A G R E E M E N T
NOW, THEREFORE, taking into account the foregoing Recitals, and in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendments to Lease.
(a)The following defined terms set forth in Section 2.1 of the Lease are hereby deleted in their entirety and substituted with the following:
“Base Rent:
(A)    During the Initial Term, means an annual amount equal to __________ Dollars ($_______); provided, however, that commencing with the second (2nd) Lease Year and continuing each Lease Year thereafter during the Initial Term, the Base Rent shall increase to an annual amount equal to (x) prior 

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to the Merger Date, the sum of (i) the Base Rent for the immediately preceding Lease Year, and (ii) the Base Rent for the immediately preceding Lease Year multiplied by the Adjusted CPI Increase, or (y) effective from and after the Merger Date, the sum of (i) the Base Rent for the immediately preceding Lease Year, and (ii) the Base Rent for the immediately preceding Lease Year multiplied by the Rent Escalator.
(B)    The Base Rent for the first year of each Renewal Term shall be an annual amount equal to the sum of (i) the Base Rent for the immediately preceding Lease Year, and (ii) the Base Rent for the immediately preceding Lease Year multiplied by the Rent Escalator.  Commencing with the second (2nd) Lease Year of any Renewal Term and continuing each Lease Year thereafter during such Renewal Term, the Base Rent shall increase to an annual amount equal to the sum of (i) the Base Rent for the immediately preceding Lease Year, and (ii) the Base Rent for the immediately preceding Lease Year multiplied by the Rent Escalator.”
“Guarantor:  Genesis HealthCare LLC, a Delaware limited liability company.”
“Guaranty:  That certain Guaranty of Master Lease dated as of the Merger Date made by Guarantor pursuant to which Guarantor has agreed to guaranty the obligations of Tenant under this Master Lease, as the same may be amended, supplemented or replaced from time to time.
(b)The following definitions are hereby added to Section 2.1 of the Lease, inserted therein in alphabetical order with respect to the other definitions appearing therein:
“Merger Date:  December 1, 2012.”
“Parent Members”:  The direct or indirect beneficial owners of Genesis HealthCare LLC as of the Merger Date.”
“Rent Escalator:  Two and one-half percent (2.5%).”
“Term Loan Documents:  That certain term loan agreement in the amount of $325,000,000 made by Barclays Bank PLC and the other lenders from time to time named therein to Guarantor or its Affiliate and the other borrowers named therein, together with the other “Loan Documents” as described therein, as each of the foregoing may be amended, modified, revised, restated or refinanced from time to time.”
(c)The definition of “Guarantor’s Credit Agreement” is hereby deleted from Section 2.1 of the Lease.
(d)The following is hereby added to the end of the first sentence of the definition of “Affiliate” appearing in Section 2.1 of the Lease: “provided, however, that when used in respect of Tenant for the purpose of Section 7.3 hereof, the term Affiliate shall only include Genesis HealthCare LLC or a Person that is, directly or indirectly, a wholly owned subsidiary of Genesis HealthCare LLC.”

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(e)The words “three (3) years” appearing three times in the third sentence of Section 13.5 of the Lease are hereby amended and restated as follows: “two (2) years”.
(f)Section 16.1(o) of the Lease is hereby amended and restated in its entirety as follows:  “From and after the date on which the loan described in the Term Loan Documents is made, an Event of Default (as defined therein) or other default of or breach by Tenant, Guarantor or any of their respective Affiliate occurs under any Term Loan Document, beyond any notice and cure periods expressly set forth therein.”
(g)The final period of Section 16.1(p) of the Lease is hereby deleted, with the following added and substituted in its place and stead: “; and”.  The following is hereby added to and made a part of the Lease as new Section 16.1(q) thereof:
“(q)    The occurrence of a non-curable Event of Default as described in Section 23.1(b)(iii).”
(h)Clause (a) of Section 22.1 of the Lease is hereby amended and restated in its entirety as follows:
“change in “control” (as defined in the definition of “Affiliate”) (or similar event, however denominated) with respect to Tenant or Guarantor occurs other than a change of control resulting from (i) an initial public offering of equity in Tenant or Guarantor provided that following such public offering, the Parent Members continue to hold, directly or indirectly, not less than twenty-five percent (25%) of the total outstanding shares of the Tenant and Guarantor, as applicable, and no other Person (together with its Affiliates) holds, directly or indirectly, twenty-five percent (25%) or more of the total outstanding shares of the Tenant and Guarantor, as applicable (ii) transfers of the direct or indirect interests in Tenant or Guarantor to Affiliates thereof or between Parent Members or (iii) transfers of the direct or indirect interests in Tenant or Guarantor, provided that after any such transfers, the Parent Members continue to hold not less than fifty percent (50%) of the total outstanding shares of the Tenant and Guarantor, as applicable;”
(i)The final two (2) sentences of Section 22.1 of the Lease are hereby amended and restated as the following single sentence:  “Except as provided in Section 22.3 below, any sublease of any portion of any Facility to any Person or its Affiliates, in one transaction or in a series of transactions, shall be deemed to be a master sublease hereunder.”
(j)The words “ninety-five (95) days” appearing in section 23.1(b)(i) of the Lease are hereby amended and restated as follows:  “ninety (90) days”.
(k)Sections 23.1(b)(ii) and (iii) of the Lease are hereby amended and restated in their entirety as follows:
“(ii)    Within fifty (50) days after the end of each of Tenant’s Fiscal Year quarters, a copy of Guarantor’s Financials for such period; provided, however, in the event that Guarantor becomes a registrant under the Securities Exchange Act of 1934, as amended, Tenant and/or Guarantor shall provide to Landlord the same information that Guarantor files with the SEC on Form 10-Q and Form 10-K concurrently with the filing by Guarantor of such quarterly and annual reports;

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(iii)    Such quarterly and annual financial statements and reports to Landlord within such time periods  (which shall not be more than three (3) days prior to the due date for filing such reports with SEC (the “Reporting Outside Date”)) and containing such financial information and disclosures (and corresponding consent of Guarantor’s auditors to incorporation or inclusion of Guarantor’s audited financial statements in the registration statements of Landlord or its subsidiaries) as may reasonably be determined by Landlord to be required to comply with and/or be filed with the SEC in connection with Sabra’s quarterly and annual SEC reporting obligations under both the Securities Act and the Securities Exchange Act of 1934, as amended, including, but not limited to, 10‐Q Quarterly Reports, 10‐K Annual Reports and registration statements to be filed by Landlord during the Term of this Master Lease.  Tenants’ or Guarantor’s failure to provide such financial information no later than the Reporting Outside Date shall constitute a non-curable Event of Default under this Master Leases unless (i) such failure does not materially adversely affect Landlord (it being agreed that the occurrence of either of the following will automatically be deemed to have such a material adverse effect: (A) the loss of Form S-3 eligibility or (B) if, as a result of Tenants’ or Guarantor’s failure to provide such financial information no later than the Reporting Outside Date, a default occurs under Sabra’s revolving credit facility resulting in an inability to make draws thereunder, unless such default is cured within three (3) business days); (ii) Tenant has been using, and continues to use, diligent efforts to cause the financial statements to be delivered as soon as practicable and (iii) Tenant shall (A) reimburse Sabra for three (3) times the actual reasonable out-of-pocket costs and expenses incurred by Sabra that arise from Tenants’ or Guarantor’s failure to provide such financial information no later than the Reporting Outside Date and (B) for each day Tenants’ or Guarantor’s reports are delivered to Sabra after the Reporting Outside Date, Tenant shall pay Sabra Ten Thousand Dollars ($10,000).  The amounts payable in accordance with the immediately preceding sentence shall be paid by Tenant to Landlord in immediately available funds on a rolling two (2) week basis following the Reporting Outside Date. Landlord, at Tenant's request, shall be obligated to cooperate with Tenant in an effort to prevent the loss of Form S-3 eligibility by requesting appropriate extensions and/or waivers provided that (x) Landlord will only be obligated to cooperate at Tenant's sole cost and expense, (y) Landlord's failure to obtain any such extension and/or waiver notwithstanding its cooperation shall not excuse or in any way limit is rights with respect to the applicable Event of Default, and (z) once Landlord requests any such extensions and/or waivers at Tenant's request with respect to any year, it shall not be required to request any such extensions and/or waivers for any one or more of the succeeding 3 years.”
(l)Section 23.1(b)(viii) of the Lease is hereby amended and restated in its entirety as follows:  “Within ten (10) Business Days after Tenant’s receipt of a written request from Landlord, copies of all Medicaid and other governmental third-party payor rate letters and/or provider agreements;”.
(m)The word “and” is hereby deleted as the last word of Section 23.1(b)(vii) of the Lease.  The final period of Section 23.1(b)(viii) of the Lease is hereby deleted, with the following added and substituted in its place and stead: “; and”.  The following is hereby added to and made a part of the Lease as new Section 23.1(b)(ix) thereof:
“(ix)  To the extent not otherwise required pursuant to Sections 23.1(b)(v) and 23.1(b)(vi), Tenant shall provide to Landlord within ten (10) days after Tenant’s receipt thereof, copies of any and all notices, reports, surveys and other 

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correspondence received by Tenant from any governmental authority concerning: (a) material violations of the Facilities’ or Tenant’s permits or approvals or any other governmental requirements applicable thereto; (b) the termination or non-renewal of any of such material permits or approvals; or (c) any governmental investigation or inquiry involving fraud committed by Tenant or Guarantor or by any person in connection with the operation of any Facility.”
2.Affirmation of Obligations. 
(a)    Notwithstanding the modifications to the Lease contained herein, Tenant and Landlord each hereby acknowledges and reaffirms its obligations under the Lease (as modified hereby) and all other documents executed by such party in connection therewith.
(b)    Notwithstanding the modifications to the Lease contained herein, Guarantor hereby acknowledges and reaffirms its obligations under the Guaranty and all documents executed by Guarantor in connection therewith, and further agrees that any reference made in the Guaranty to the Lease or any terms or conditions contained therein, shall mean such Lease or such terms or conditions as modified by this Agreement. 
3.Further Instruments.  Each party will, whenever and as often as it shall be reasonably requested so to do by another party, cause to be executed, acknowledged or delivered, any and all such further instruments and documents as may be necessary or proper, in the reasonable opinion of the requesting party, in order to carry out the intent and purpose of this Agreement.
4.Incorporation of Recitals.  The Recitals to this Agreement are incorporated hereby by reference.
5.Counterparts.  This Agreement may be executed and delivered (including by facsimile or Portable Document Format (pdf) transmission) in counterparts, all of which executed counterparts shall together constitute a single document.  Signature pages may be detached from the counterparts and attached to a single copy of this document to physically form one document.  Any such facsimile documents and signatures shall have the same force and effect as manually-signed originals and shall be binding on the parties hereto.
6.Attorneys’ Fees.  Tenant hereby agrees to reimburse Landlord, within fifteen (15) days of written demand therefor, for all reasonable attorneys’ fees and costs incurred by Landlord in connection with the preparation and negotiation of this Agreement.  In the event of any dispute or litigation concerning the enforcement, validity or interpretation of this Agreement, or any part thereof, the losing party shall pay all costs, charges, fees and expenses (including reasonable attorneys’ fees) paid or incurred by the prevailing party, regardless of whether any action or proceeding is initiated relative to such dispute and regardless of whether any such litigation is prosecuted to judgment.
7.Effect of Amendment.  Except as specifically amended pursuant to the terms of this Agreement, the terms and conditions of the Lease shall remain unmodified and in full force and effect.  In the event of any inconsistencies between the terms of this Agreement and any terms of the Lease, the terms of this Agreement shall govern and prevail.
8.Entire Agreement.  This Agreement contains the entire agreement between the parties relating to the subject matters contained herein.  Any oral representations or statements concerning the subject matters herein shall be of no force or effect.

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[SIGNATURES ON NEXT PAGE]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.TENANT:
[INSERT APPLICABLE SIGNATURE BLOCKS FOR TENANT ENTITIES.]

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GUARANTOR:
GENESIS HEALTHCARE LLC, 
a Delaware limited liability company

By:                        
Name:    Michael S. Sherman
Title:    Senior Vice President

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LANDLORD:
[INSERT APPLICABLE SIGNATURE BLOCKS FOR LANDLORD ENTITIES.]

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