Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - Diversicare Healthcare Services, Inc. | g27165e10vq.htm |
| EX-32 - EX-32 - Diversicare Healthcare Services, Inc. | g27165exv32.htm |
| EX-10.8 - EX-10.8 - Diversicare Healthcare Services, Inc. | g27165exv10w8.htm |
| EX-31.2 - EX-31.2 - Diversicare Healthcare Services, Inc. | g27165exv31w2.htm |
| EX-10.1 - EX-10.1 - Diversicare Healthcare Services, Inc. | g27165exv10w1.htm |
| EX-10.5 - EX-10.5 - Diversicare Healthcare Services, Inc. | g27165exv10w5.htm |
| EX-10.3 - EX-10.3 - Diversicare Healthcare Services, Inc. | g27165exv10w3.htm |
| EX-10.4 - EX-10.4 - Diversicare Healthcare Services, Inc. | g27165exv10w4.htm |
| EX-10.2 - EX-10.2 - Diversicare Healthcare Services, Inc. | g27165exv10w2.htm |
| EX-10.7 - EX-10.7 - Diversicare Healthcare Services, Inc. | g27165exv10w7.htm |
| EX-31.1 - EX-31.1 - Diversicare Healthcare Services, Inc. | g27165exv31w1.htm |
Exhibit 10.6
|
The PrivateBank and
Trust Co Capital Markets Operations 70 West Madison Suite 500 Chicago, IL 60603 |
TO:
|
DIVERSICARE BRIARCLIFF, LLC, DIVERSICARE AFTON OAKS, LLC, DIVERSICARE CHISOLM, LLC AND DIVERSICARE HARTFORD, LLC |
|
FROM:
|
The PrivateBank and Trust Company | |
DATE:
|
01 March 2011 | |
RE:
|
Interest Rate Swap | |
REF NO.:
|
3000911 (5675 / 5676) |
The purpose of this communication is to set forth the terms and conditions of the Interest Rate
Swap Transaction entered into on the Trade Date referred to below (the “Interest Rate Swap
Transaction”), between The PrivateBank and Trust Company (“Party A” or “we”) and DIVERSICARE
BRIARCLIFF, LLC, DIVERSICARE AFTON OAKS, LLC, DIVERSICARE CHISOLM, LLC AND DIVERSICARE HARTFORD,
LLC (“Party B” or “you”). This communication constitutes a “Confirmation” as referred to in the
Interest Rate Swap Agreement specified below.
This Confirmation incorporates the definitions and provisions contained in the 2000 ISDA
Definitions as published by the International Swaps and Derivatives Association, Inc. (the
“Definitions”). In the event of any inconsistency between the Definitions and this Confirmation,
this Confirmation will govern.
This Confirmation is subject to and incorporates the terms of the ISDA Master Agreement and
Schedule dated February 16, 2011 between Party A and Party B (the “ISDA Master Agreement”). All
provisions contained in, or incorporated by reference to, the ISDA Master Agreement shall govern
this Confirmation except as expressly modified below. In the event of any inconsistency between the
provisions of that ISDA Master Agreement and this Confirmation, this Confirmation shall prevail for
the purpose of this Interest Rate Swap Agreement.
The terms of the particular Interest Rate Swap Transaction to which this communication relates are
as follows:
Notional Amount:
|
USD 23,000,000.00 | |
Trade Date:
|
March 1, 2011 | |
Effective Date:
|
March 1, 2011 | |
Termination Date:
|
March 1,2016 subject to adjustment in accordance with the Following Business Day Convention. |
Fixed Amounts: |
||
Fixed Rate Payer: |
Party B | |
Fixed Rate: |
2.57% | |
Fixed Rate Day Count Fraction: |
Act/360 | |
Fixed Rate Calculation Periods: |
From and including the First (1st) day of each month to but excluding the First (1st) of the following month, starting with the Effective Date and continuing until the Termination Date, subject to adjustment in accordance with the Following Business Day Convention. |
Page 1 of 5
Fixed Rate Payer Payment Dates: |
First (1st) calendar day of each month beginning with April 1, 2011, continuing until the Termination Date, subject to adjustment in accordance with the Following Business Day Convention. | |
Floating Amounts: |
||
Floating Rate Payer: |
Party A | |
Floating Rate Calculation Periods: |
From and including the First (1st) day of each month to but excluding the First (1st) of the following month, starting with the Effective Date and continuing until the Termination Date, subject to adjustment in accordance with the Following | |
| Business Day Convention. | ||
Floating Rate Payer Payment Dates: |
First (1st) calendar day of each month beginning with April 1, 2011, continuing until the Termination Date, subject to adjustment in accordance with the Following Business Day Convention. | |
Floating Rate Option: |
USD-LIBOR-BBA | |
Designated Maturity: |
1 Month (No interpolation) | |
Floating Rate Day Count: |
Act/360 | |
Floating
Rate for initial Calculation Period: |
0.2610% | |
Reset Dates: |
First day of each Floating Rate Calculation Period | |
Compounding: |
Inapplicable | |
Business Days: |
USNYC | |
Calculation Agent: |
Party A | |
Governing Law: |
New York | |
Payment Instructions Parties A and B: |
Party A will debit/credit the DDA account of Party B for payment. | |
Please confirm that the foregoing correctly sets forth the terms of our agreement with respect to
the Interest Rate Swap Transaction by signing in the space provided below and sending a copy of the
executed Confirmation to The PrivateBank and Trust Company, Attention: Dominic Bracco, Facsimile
number 312.683.0445.
Page 2 of 5
The Private Bank and Trust Comapany
| By: | /s/ Scott Venable | |||
| Name: | Scott Venable | |||
| Title: | Managing Director | |||
DIVERSICARE BRIARCLIFF, LLC, DIVERSICARE AFTON OAKS, LLC, DIVERSICARE CHISOLM, LLC AND
DIVERSICARE HARTFORD, LLC
| By: | /s/ Glynn Riddle | |||
| Name: | Glynn Riddle | |||
| Title: | EVP & CFO | |||
Page 3 of 5
Notional Schedule
| Start Date | End Date | Notional (USD) | ||
1-Mar-11 |
1-Apr-11 | 23,000,000 | ||
1-Apr-11 |
2-May-11 | 22,968,333 | ||
2-May-11 |
1-Jun-11 | 22,936,666 | ||
1-Jun-11 |
1-Jul-11 | 22,904,999 | ||
1-Jul-11 |
1-Aug-11 | 22,873,332 | ||
1-Aug-11 |
1-Sep-11 | 22,841,665 | ||
1-Sep-11 |
3-Oct-11 | 22,809,998 | ||
3-Oct-11 |
1-Nov-11 | 22,778,331 | ||
1-Nov-11 |
1-Dec-11 | 22,746,664 | ||
1-Dec-11 |
3-Jan-12 | 22,714,997 | ||
3-Jan-12 |
1-Feb-12 | 22,683,330 | ||
1-Feb-12 |
1-Mar-12 | 22,651,663 | ||
1-Mar-12 |
2-Apr-12 | 22,619,996 | ||
2-Apr-12 |
1-May-12 | 22,585,829 | ||
1-May-12 |
1-Jun-12 | 22,551,662 | ||
1-Jun-12 |
2-Jul-12 | 22,517,495 | ||
2-Jul-12 |
1-Aug-12 | 22,483,328 | ||
1-Aug-12 |
4-Sep-12 | 22,449,161 | ||
4-Sep-12 |
1-Oct-12 | 22,414,994 | ||
1-Oct-12 |
1-Nov-12 | 22,380,827 | ||
1-Nov-12 |
3-Dec-12 | 22,346,660 | ||
3-Dec-12 |
2-Jan-13 | 22,312,493 | ||
2-Jan-13 |
1-Feb-13 | 22,278,326 | ||
1-Feb-13 |
1-Mar-13 | 22,244,159 | ||
1-Mar-13 |
1-Apr-13 | 22,209,992 | ||
1-Apr-13 |
1-May-13 | 22,174,158 | ||
1-May-13 |
3-Jun-13 | 22,138,324 | ||
3-Jun-13 |
1-Jul-13 | 22,102,490 | ||
1-Jul-13 |
1-Aug-13 | 22,066,656 | ||
1-Aug-13 |
3-Sep-13 | 22,030,822 | ||
3-Sep-13 |
1-Oct-13 | 21,994,988 | ||
1-Oct-13 |
1-Nov-13 | 21,959,154 | ||
1-Nov-13 |
2-Dec-13 | 21,923,320 | ||
2-Dec-13 |
2-Jan-14 | 21,887,486 | ||
2-Jan-14 |
3-Feb-14 | 21,851,652 | ||
3-Feb-14 |
3-Mar-14 | 21,815,818 | ||
3-Mar-14 |
1-Apr-14 | 21,779,984 |
Page 4 of 5
| Start Date | End Date | Notional (USD) | ||
1-Apr-14 |
1-May-14 | 21,741,650 | ||
1-May-14 |
2-Jun-14 | 21,703,316 | ||
2-Jun-14 |
1-Jul-14 | 21,664,982 | ||
1-Jul-14 |
1-Aug-14 | 21,626,648 | ||
1-Aug-14 |
2-Sep-14 | 21,588,314 | ||
2-Sep-14 |
1-Oct-14 | 21,549,980 | ||
1-Oct-14 |
3-Nov-14 | 21,511,646 | ||
3-Nov-14 |
1-Dec-14 | 21,473,312 | ||
1-Dec-14 |
2-Jan-15 | 21,434,978 | ||
2-Jan-15 |
2-Feb-15 | 21,396,644 | ||
2-Feb-15 |
2-Mar-15 | 21,358,310 | ||
2-Mar-15 |
1-Apr-15 | 21,319,976 | ||
1-Apr-15 |
1-May-15 | 21,279,142 | ||
1-May-15 |
1-Jun-15 | 21,238,308 | ||
1-Jun-15 |
1-Jul-15 | 21,197,474 | ||
1-Jul-15 |
3-Aug-15 | 21,156,640 | ||
3-Aug-15 |
1-Sep-15 | 21,115,806 | ||
1-Sep-15 |
1-Oct-15 | 21,074,972 | ||
1-Oct-15 |
2-Nov-15 | 21,034,138 | ||
2-Nov-15 |
1-Dec-15 | 20,993,304 | ||
1-Dec-15 |
4-Jan-16 | 20,952,470 | ||
4-Jan-16 |
1-Feb-16 | 20,911,636 | ||
1-Feb-16 |
1-Mar-16 | 20,870,802 |
Page 5 of 5