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  • LOAN AGREEMENT Dated as of March 30, 2012 by and a

Document Metadata

Filed: May 10th, 2012
  • Contract TypeLoan Agreement
  • CountryUnited States
  • JurisdictionIllinois
  • IndustryServices-skilled nursing care facilities
  • CompanyAdcare Health Systems Inc
  • Law FirmSeyfarth Shaw
  • SEC Filing ID0001104659-12-035965
  • SEC Filing Type10-q
  • SEC Exhibit IDex-10
  • Exclude Amendmentsnot_amendment
  • Languageen
  • Sourcewww.sec.gov
  • Top Level CategoryFinance, Investment & Banking
  • Typecontract
  • Common Contracts 2 similar ⓘ

Table of Contents

  • RECITALS
  • AGREEMENTS
  • Control
  • Declarations
  • Distribution
  • EBITDAR
  • EBITDAR/Cap Ex Adjusted
  • Gross Revenues
  • AdCare and Operators
  • Legal Requirements
  • Operations Transfer Agreement
  • Operator Loan Documents
  • Permitted Exceptions
  • Required Loan Opening Date
  • Title Insurance Company
  • ARTICLE 3 THE LOAN
    • 3.1. Agreement to Borrow and Lend
  • 3.2. Interest
  • 3.3. Principal Payments; Maturity Date; Prepayment
  • 3.4. Collateral Account
  • 3.5. Uniform Commercial Code Matters
  • Organizational Number
  • ARTICLE 4 LOAN DOCUMENTS
    • 4.2. Interest Rate Protection
    • 4.1. Loan Documents
      • (g) Collateral Assignments
      • (b) Mortgages
      • (a) Promissory Note
      • (d) Financing Statements
      • (e) Environmental Indemnity
      • (h) Other Loan Documents
      • (c) Assignments of Rents and Leases
      • (f) Guaranty
  • ARTICLE 5 CONDITIONS TO LOAN DISBURSEMENTS
    • 5.3. Termination of Agreement
    • 5.1. Conditions to Loan Opening
      • (q) Operator Loan Documents
      • (b) Surveys
      • (o) Broker
      • (e) Environmental Reports
      • (c) Insurance Policies
      • (f) Appraisals
      • (l) Management and Consulting Agreements
      • (m) Operations Transfer Agreement
      • (j) Organizational Documents
      • (n) Real Estate Taxes
      • (p) Property Condition Reports
      • (r) Additional Documents
      • (k) Leases
      • (a) Title Insurance Policies
      • (g) Documents of Record
      • (i) Attorney’s Opinion
      • (d) Utilities; Licenses; Permits
      • (h) Searches
    • 5.2. Additional Conditions to Loan Opening
      • (c) Financial Condition
      • (b) Representations and Warranties
        • 2.2. Continuation of Representations and Warranties
        • 2.1. Representations and Warranties
      • (f) Interest Rate Protection
      • (d) Accounts Set Up with Lender; Collateral Account and Capital Expenditures Reserve Account
      • (e) Operator Working Capital
      • (a) Written Request
  • (f) No Default or Event of Default
  • ARTICLE 6 PAYMENT OF LOAN EXPENSES
    • 6.1. Payment of Loan Expenses at Loan Opening
  • ARTICLE 7 FURTHER AGREEMENTS OF BORROWER
    • 7.8. ERISA Liabilities; Employee Plans
    • 7.17. AdCare Debt Service Coverage Ratio
    • 7.13. Leasing, Operation and Management of Projects
    • 7.21. Security Interest Matters
    • 7.19. Capital Expenditures Reserve Account
    • 7.4. Furnishing Information
    • 7.20. Concerning Operators
    • 7.5. Excess Indebtedness
    • 7.10. Project and Facility Accounts and Revenues
    • 7.15. Minimum Fixed Charge Coverage Ratio of Operators
    • 7.12. Restrictions on Transfer
    • 7.3. Insurance Policies
    • 7.2. Fixtures and Personal Property
    • 7.14. Borrowers Coverage of Debt Service
    • 7.6. Certain Title Related Matters
    • 7.9. Licensure; Notices of Agency Actions
    • 7.11. Single-Asset Entity; Indebtedness; Distributions
    • 7.1. Mechanics’ Liens, Taxes and Contest Thereof
    • 7.16. Minimum Combined EBITDAR of Operators
    • 7.18. AdCare Leverage Ratio
    • 7.22. Further Assurance
      • 12.14.