Exhibit 1.1
Execution Version
$550,000,000
SELECT MEDICAL CORPORATION
6.25% SENIOR NOTES DUE 2032
PURCHASE AGREEMENT
November 18, 2024
J.P. Morgan Securities LLC
as Representative of the Initial Purchasers
c/o J.P. Morgan Securities LLC
383 Madison Avenue
New York, New York 10179
Ladies and Gentlemen:
Select Medical Corporation,
a Delaware corporation (the “Company”), proposes to issue and sell to the several purchasers named in Schedule I hereto
(the “Initial Purchasers”) $550,000,000 aggregate principal amount of the Company’s 6.25% Senior Notes due 2032
(the “Notes”) pursuant to the terms of this purchase agreement (this “Agreement”). J.P. Morgan
Securities LLC has agreed to act as the representative of the several Initial Purchasers (the “Representative”) in
connection with the offering and sale of the Notes.
The Securities (as defined
herein) will be issued pursuant to the provisions of an indenture, to be dated as of December 3, 2024 (the “Indenture”),
among the Company, the Guarantors (as defined herein) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).
The payment of principal
of, premium, if any, and interest on the Notes will be fully and unconditionally guaranteed on a senior unsecured basis, jointly and
severally, by (i) the entities listed on Schedule II hereto and (ii) any subsidiary of the Company formed or acquired after
the Closing Date (as defined herein) that executes an additional guarantee in accordance with the terms of the Indenture, and their respective
successors and assigns (collectively, the “Guarantors”) pursuant to their guarantees (the “Guarantees”).
The Notes and the Guarantees attached thereto are herein collectively referred to as the “Securities”.
Concurrently with the issuance
of the Securities, the Company intends to enter into an amendment (the “Amendment”) to that certain Credit Agreement,
dated as of March 6, 2017 (as amended, amended and restated, modified and supplemented from time to time prior to the date hereof,
the “Credit Agreement”), among, inter alios, Select Medical Holdings Corporation (“Parent”),
the Company, as borrower, the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent and collateral
agent, which will, among other modifications to the Credit Agreement, (i) establish a new incremental term loan under the Credit
Agreement (the “New Term Loans”) in an aggregate principal amount of $1,050 million, (ii) extend the maturity
date of the revolving commitments thereunder, (iii) provide for an incremental revolving commitment in an aggregate principal amount
of $50.0 million and (iv) make certain other changes to the Credit Agreement.
As described in the Time
of Sale Memorandum and the Final Memorandum (each as defined below), the Company intends to use the net proceeds from the issuance and
sale of the Securities, together with the proceeds of the New Term Loans and available cash, to refinance the term loan currently outstanding
under the Credit Agreement, to redeem all of its outstanding 6.250% Senior Notes due 2026 (the “2026 Notes”) and to
pay fees and expenses related to the foregoing. The issuance and sale of the Securities, the entrance into the Amendment, including the
borrowing of the New Term Loans, the redemption of the 2026 Notes, and the other related transactions described herein and in the Time
of Sale Memorandum (as defined below) are collectively referred to as the “Transactions.” This Agreement, the Indenture
(including the Guarantees set forth therein) and the Securities described in the Time of Sale Memorandum are referred to in this Agreement
collectively as the “Transaction Documents”.
In connection with the offer
and sale of the Securities, the Company and the Guarantors have prepared a preliminary offering memorandum, dated November 18, 2024
(the “Preliminary Memorandum”), a pricing supplement, dated November 18, 2024, as set forth on Annex A (the “Pricing
Supplement” and, together with the Preliminary Memorandum, the “Time of Sale Memorandum”), and will prepare
an offering memorandum dated the date hereof (the “Final Memorandum”) setting forth information concerning the Company,
the Guarantors and the Securities. Copies of the Preliminary Memorandum and Pricing Supplement have been, and copies of the Final Memorandum
will be, delivered to the Initial Purchasers pursuant to the terms of this Agreement. As used herein, the terms “Preliminary
Memorandum,” “Time of Sale Memorandum” and “Final Memorandum” shall include the documents,
if any, incorporated by reference therein on the date hereof. The terms “supplement,” “amendment”
and “amend” as used herein with respect to the Preliminary Memorandum, the Time of Sale Memorandum or the Final Memorandum
shall include all documents subsequently filed by the Company with the Securities and Exchange Commission (the “Commission”)
pursuant to the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder (the “Exchange
Act”), that are deemed to be incorporated by reference therein. Capitalized terms used but not defined herein shall have the
meanings given to such terms in the Preliminary Memorandum.
The Company understands that
the Initial Purchasers propose to make an offering of the Securities on the terms and in the manner set forth herein and in the Time
of Sale Memorandum and agrees that the Initial Purchasers may resell, subject to the conditions set forth herein, all or a portion of
the Securities to purchasers (the “Subsequent Purchasers”) on the terms set forth in the Time of Sale Memorandum (the
first time when sales of the Securities are made is referred to as the “Time of Sale”). The Securities will be offered
without being registered under the Securities Act of 1933, as amended (the “Securities Act”), to persons who are reasonably
believed to be qualified institutional buyers in compliance with the exemption from registration provided by Rule 144A under the
Securities Act (“Rule 144A”) and in offshore transactions in reliance on Regulation S under the Securities Act
(“Regulation S”). Pursuant to the terms of the Securities and the Indenture, investors who acquire Securities shall
be deemed to have agreed that Securities may only be resold or otherwise transferred, after the date hereof, if an exemption from the
registration requirements of the Securities Act is available (including the exemptions afforded by Rule 144A or Regulation S). The
Company hereby confirms that it has authorized the use of the Time of Sale Memorandum, the Final Memorandum and any Additional Written
Communication (as defined herein) in connection with the offer and sale of the Securities by the Initial Purchasers.
As used herein, the term
“Company Group Entities” means the Company, together with all of its direct and indirect subsidiaries, including the
Guarantors.
The Company and each of the
Guarantors, jointly and severally, hereby confirm their agreement with the several Initial Purchasers concerning the purchase and resale
of the Securities, as follows:
1. Representations
and Warranties of the Company and the Guarantors. Each of the Company and the Guarantors, jointly and severally, represents and warrants
to the Initial Purchasers, in each case, as of the Time of Sale and as of the Closing Date:
(a) Incorporated
Documents, Time of Sale Memorandum and Final Memorandum. (i) Each document, if any, filed or to be filed pursuant to the Exchange
Act and incorporated by reference in the Preliminary Memorandum, the Time of Sale Memorandum or the Final Memorandum complied or will
comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the Commission thereunder,
(ii) the Time of Sale Memorandum as of the Time of Sale does not, and as of the Closing Date will not, contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading and (iii) the Final Memorandum as of its date and as of the Closing Date will not contain any
untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, except that the representations and warranties set forth in this paragraph do not apply to
statements in or omissions from the Time of Sale Memorandum or the Final Memorandum based upon information relating to any Initial Purchaser
furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use therein, it being understood
and agreed that the only such written information so furnished is as set forth in Section 8(b).
(b) Additional
Written Communications. The Company and the Guarantors (including their agents and representatives) have not prepared, made, used,
authorized, approved or distributed and will not prepare, make, use, authorize, approve or distribute any written communication that
constitutes an offer to sell or solicitation of an offer to buy the Securities other than (i) the Time of Sale Memorandum, (ii) the
Final Memorandum and (iii) any electronic road show or other written communications, in each case used in accordance with Section 6(c).
Each such communication by the Company or the Guarantors (including their agents and representatives) pursuant to clause (iii) of
the preceding sentence (each, a “Additional Written Communication”), when taken together with the Time of Sale Memorandum,
did not as of the Time of Sale, and, when taken together with the Final Memorandum, at the Closing Date will not, contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that this representation, warranty and agreement shall not
apply to statements in or omissions from each such Additional Written Communication made in reliance upon and in conformity with information
furnished to the Company in writing by any Initial Purchaser through the Representative expressly for use in any Additional Written Communication,
it being understood and agreed that the only such written information so furnished is as set forth in Section 8(b).
(c) Financial
Statements. The financial statements (including the related notes thereto) of Parent and its consolidated subsidiaries included or
incorporated by reference in each of the Time of Sale Memorandum and the Final Memorandum present fairly in all material respects the
financial position of Parent and its consolidated subsidiaries as of the dates indicated and the results of their operations and the
changes in their cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted
accounting principles (“GAAP”) in the United States applied on a consistent basis throughout the periods covered thereby,
except in the case of unaudited financial statements, which are subject to normal year end adjustments and do not contain certain footnotes
as permitted by the applicable rules of the Commission and any supporting schedules included in the Time of Sale Memorandum and
the Final Memorandum present fairly in all material respects the information required to be stated therein; and the other financial information
included or incorporated by reference in each of the Time of Sale Memorandum and the Final Memorandum has been derived from the accounting
records of Parent and its subsidiaries and presents fairly in all material respects the information shown thereby. The interactive data
in eXtensible Business Reporting Language included or incorporated by reference in each of the Preliminary Memorandum, the Time of Sale
Memorandum and the Final Memorandum fairly presents the information called for in all material respects and is prepared in accordance
with the Commission’s rules and guidelines applicable thereto.
(d) Pro
Forma Financial Information. The pro forma financial information and the related notes thereto included or incorporated by
reference in each of the Time of the Sale Memorandum and the Final Memorandum (the “Pro Forma Financial Information”)
have been prepared on a basis consistent with the historical financial statements of Parent and its consolidated subsidiaries and, after
giving effect to the adjustments specified therein, present fairly in all material respects the historical and proposed transactions
described therein. The assumptions underlying such pro forma financial information are reasonable and are set forth in each of the Time
of Sale Memorandum and the Final Memorandum
(e) No
Material Adverse Change. Since the date of the most recent financial statements of Parent included or incorporated by reference in
each of the Time of Sale Memorandum and the Final Memorandum, (i) there has not been any change in the capital stock of Parent,
short-term debt or long-term debt of Parent or any of its subsidiaries, or any dividend or distribution of any kind declared, set aside
for payment, paid or made by the Parent or its subsidiaries on any class of capital stock, or any material adverse change, or any development
involving a prospective material adverse change, in or affecting the business, properties, management, financial position, stockholders’
equity, results of operations or prospects of Parent and its subsidiaries taken as a whole; (ii) neither Parent nor any of its subsidiaries
has entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to Parent and its
subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to Parent and its subsidiaries
taken as a whole; and (iii) neither Parent nor any of its subsidiaries has sustained any loss or interference with its business
that is material to Parent and its subsidiaries taken as a whole and that is either from fire, explosion, flood or other calamity, whether
or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental
or regulatory authority, except in each case as otherwise disclosed in each of the Time of Sale Memorandum and the Final Memorandum.
(f) Organization
and Good Standing. Each of the Company Group Entities has been duly organized and is validly existing and in good standing under
the laws of its respective jurisdiction of organization, is duly qualified to do business and is in good standing in each jurisdiction
in which its ownership or lease of property or the conduct of its business requires such qualification, and has all power and authority
necessary to own or hold its properties and to conduct the businesses in which it is engaged, in each case, as described in the Time
of Sale Memorandum, except where the failure to be so qualified or in good standing or have such power or authority would not, individually
or in the aggregate, have a material adverse effect on the business, properties, management, financial position, stockholders’
equity, results of operations or prospects of the Company Group Entities taken as a whole or on the performance by the Company and the
Guarantors of their obligations under the Transaction Documents or their ability to consummate the Transactions (a “Material
Adverse Effect”). Parent does not own or control, directly or indirectly, any corporation, association or other entity other
than the subsidiaries listed in Schedule III hereto.
(g) Capitalization.
Parent has the pro forma capitalization and the pro forma as adjusted capitalization as set forth under the applicable column in
the capitalization table in each of the Time of Sale Memorandum and the Final Memorandum under the heading “Capitalization”;
all the outstanding shares of capital stock of Parent have been duly and validly authorized and issued and are fully paid and non-assessable
and are not subject to any pre-emptive or similar rights and all the outstanding shares of capital stock or other equity interests of
Parent and each subsidiary (including the Company and each of the Guarantors) owned, directly or indirectly, by Parent have been duly
and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by Parent, free and clear of
any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party.
(h) Due
Authorization. The Company and each of the Guarantors has full right, power and authority to execute and deliver the Transaction
Documents, in each case to the extent party thereto, and to perform its respective obligations hereunder and thereunder; and all action
required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents and the consummation
of the transactions contemplated thereby has been duly and validly taken.
(i) The
Indenture. The Indenture has been duly authorized by the Company and each of the Guarantors and on the Closing Date will be duly
executed and delivered by the Company and each of the Guarantors and, when duly executed and delivered in accordance with its terms by
each of the parties thereto, will constitute a valid and legally binding agreement of each of the Company and the Guarantors, enforceable
against the Company and each of the Guarantors in accordance with its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability
(collectively, the “Enforceability Exceptions”).
(j) The
Notes and the Guarantees. The Notes have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered
as provided in the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will constitute valid
and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as enforceability
may be limited by the Enforceability Exceptions and will be entitled to the benefits of the Indenture; the Notes to be purchased by the
Initial Purchasers from the Company will on the Closing Date be in the form contemplated in the Indenture; the Guarantees have been duly
authorized by each of the Guarantors and will be valid and legally binding obligations of each of the Guarantors, enforceable against
each of the Guarantors in accordance with their terms, except as enforceability may be limited by the Enforceability Exceptions, and
will be entitled to the benefits of the Indenture; each of the Guarantors has all requisite corporate power and authority to unconditionally
guarantee all of the Company’s obligations under, and to perform its obligations under the Securities and the Indenture on the
Closing Date, and the guarantee of the Securities and performance thereof have been duly authorized by each of the Guarantors.
(k) Purchase
Agreement. This Agreement has been duly authorized, executed and delivered by the Company and each of the Guarantors.
(l) Description
of the Transaction Documents. Each Transaction Document conforms or will conform in all material respects to the description thereof
contained in each of the Time of Sale Memorandum and the Final Memorandum.
(m) Accuracy
of Disclosure. The statements set forth in each of the Time of Sale Memorandum and the Final Memorandum, as amended or supplemented,
under the captions “Description of Material Indebtedness,” and “Certain Material U.S. Federal Income Tax Considerations”
insofar as they purport to describe the provisions of the laws and documents referred to therein, are accurate, complete and fair in
all material respects.
(n) No
Violation or Default. None of the Company Group Entities is (i) in violation of its charter or by-laws or similar organizational
documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default,
in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement
or other agreement or instrument to which any of the Company Group Entities is a party or by which any of the Company Group Entities
is bound or to which any property or asset of any of the Company Group Entities is subject; or (iii) in violation of any applicable
law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except,
in the case of clauses (ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate,
reasonably expected to have a Material Adverse Effect.
(o) No
Conflicts. The execution, delivery and performance by the Company and each of the Guarantors of each of the Transaction Documents
to which each is a party, the issuance and sale of the Securities and the issuance of the Guarantees and compliance by the Company and
each of the Guarantors with the terms thereof and the consummation of the Transactions and the other transactions contemplated by the
Transaction Documents and in the Time of Sale Memorandum and the Final Memorandum will not (i) conflict with or result in a breach
or violation of any of the terms or provisions of, or constitute a default or Debt Repayment Triggering Event under, result in the termination,
modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property, right
or asset of any of the Company Group Entities, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument
to which any of the Company Group Entities is a party or by any of the Company Group Entities is bound or to which any property, right
or asset of any of the Company Group Entities is subject (except for any lien, charge or encumbrance created pursuant to the Amendment
or the Credit Agreement), (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents
of any of the Company Group Entities or (iii) result in the violation of any applicable law or statute or any judgment, order, rule or
regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above
(and except with respect to any Debt Repayment Triggering Event), for any such conflict, breach, violation, default, lien, charge or
encumbrance that would not, individually or in the aggregate, reasonably expected to have a Material Adverse Effect. As used herein,
a “Debt Repayment Triggering Event” means any event or condition which gives, or with the giving of notice or lapse of time
would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf)
the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by any of the Company Group Entities.
(p) No
Consents Required. No consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or
governmental or regulatory authority is required for the execution, delivery and performance by the Company and each of the Guarantors
of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities and the issuance of the Guarantees
and compliance by the Company and each of the Guarantors with the terms thereof and the consummation of the Transactions and the other
transactions contemplated by the Transaction Documents and in the Time of Sale Memorandum and the Final Memorandum, except for such consents,
approvals, authorizations, orders and registrations or qualifications as may be required under applicable state securities laws in connection
with the purchase and resale of the Securities by the Initial Purchasers.
(q) Legal
Proceedings. Except as described in each of the Time of Sale Memorandum and the Final Memorandum, there are no legal, governmental
or regulatory investigations, actions, demands, claims, suits, arbitrations, inquiries or proceedings (“Actions”)
pending to which any of the Company Group Entities or their affiliates is or may reasonably expect to become a party or to which any
property of any of the Company Group Entities or their affiliates is, or may be the subject that, individually or in the aggregate, if
determined adversely to any of the Company Group Entities, would reasonably be expected to have a Material Adverse Effect; to the knowledge
of any of the Company Group Entities, no such Actions are threatened or contemplated by any governmental or regulatory authority or threatened
by others.
(r) Independent
Accountants. PricewaterhouseCoopers LLP, who has certified certain financial statements of Parent and its subsidiaries, is an independent
registered public accounting firm with respect to Parent and its subsidiaries within the applicable rules and regulations adopted
by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Securities Act.
(s) Title
to Real and Personal Property. Each of the Company Group Entities has good and marketable title in fee simple to all real property
and good title to all personal property, or has valid rights to lease or otherwise use, all items of real and personal property, in each
case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) are created
pursuant to the Amendment or the Credit Agreement, (ii) do not materially interfere with the use made and proposed to be made of
such property by any of the Company Group Entities, taken as a whole or (iii) would not reasonably be expected, individually or
in the aggregate, to have a Material Adverse Effect.
(t) Intellectual
Property. (i) Each of the Company Group Entities owns or has the right to use all patents trademarks, service marks, trade names,
domain names and other source indicators, copyrights know-how, trade secrets, proprietary or confidential information and all other intellectual
property and proprietary rights (collectively, “Intellectual Property”) used in the conduct of their respective businesses
as currently conducted, except where failure to own or possess any of the foregoing rights would not individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect; (ii) the conduct of each of the Company Group Entities and their respective
businesses as currently conducted does not infringe, misappropriate, dilute or otherwise violate any Intellectual Property of any person,
except to the extent any such infringement, misappropriation or violation would not reasonably be expected, individually or in the aggregate,
to have a Material Adverse Effect; (iii) none of the Company Group Entities has received in the past three years any written notice
of any claim relating to infringement, misappropriation, dilution or other violation of any Intellectual Property; and (iv) to the
knowledge of the Company Group Entities, the Intellectual Property of the Company Group Entities is not being infringed, misappropriated,
diluted or otherwise violated in any material respect. There is no action, suit, proceeding or claim pending, or to the knowledge of
the Company Group Entities threatened, that challenges the validity, enforceability or scope of or any of the Company Group Entities
rights in or to any material Intellectual Property owned by the Company Group Entities.
(u) No
Undisclosed Relationships. No relationship, direct or indirect, exists between or among any of the Company Group Entities, on the
one hand, and the directors, officers, stockholders, customers, suppliers or other affiliates of any of the Company Group Entities, on
the other, that would be required by the Securities Act to be described in a registration statement on Form S-1 to be filed with
the Commission and that is not so described in each of the Time of Sale Memorandum and the Final Memorandum.
(v) Investment
Company Act. Neither the Company nor any of the Guarantors is, nor, after giving effect to the offering and sale of the Securities
and the application of the proceeds thereof as described in each of the Time of Sale Memorandum and the Final Memorandum, will be, required
to register as an “investment company” or an entity “controlled” by an “investment company” within
the meaning of the U.S. Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively,
the “Investment Company Act”).
(w) Taxes.
Each of the Company Group Entities has paid all material federal, state, local and foreign taxes and filed all material tax returns
required to be paid or filed through the date hereof; and except as otherwise disclosed in each of the Time of Sale Memorandum and the
Final Memorandum, there is no material tax deficiency that has been, or would reasonably be expected to be, asserted against any of the
Company Group Entities or any of their respective properties or assets. None of the Company Group Entities has taken any action that
would reasonably be expected to prevent the Distribution (as defined in the Time of Sale Memorandum and the Final Memorandum), if consummated,
from qualifying as a distribution eligible for non-recognition under Section 355 of the Internal Revenue Code of 1986, as amended
(the “Code”).
(x) Licenses
and Permits. Each of the Company Group Entities possesses all licenses, sub-licenses, certificates, permits and other authorizations
issued by, and has made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory
authorities that are necessary for the ownership or lease of its respective properties or the conduct of its respective businesses as
described in each of the Time of Sale Memorandum and the Final Memorandum, except where the failure to possess or make the same would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and except as described in each of the
Time of Sale Memorandum and the Final Memorandum, none of the Company Group Entities has received written notice of any revocation or
modification of any such license, sub-license, certificate, permit or authorization or has any reason to believe that any such license,
sub-license, certificate, permit or authorization will not be renewed in the ordinary course, except where such revocation or modification
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
(y) No
Labor Disputes. No labor disturbance by or dispute with employees of any of the Company Group Entities exists or, to the knowledge
of any of the Company Group Entities, is contemplated or threatened, and none of the Company Group Entities is aware of any existing
or imminent labor disturbance by, or dispute with, the employees of any of its or its subsidiaries’ principal suppliers, contractors
or customers, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. None of
the Company Group Entities is party to a collective bargaining agreement or similar agreement with respect to its or its subsidiaries’
employees.
(z) Certain
Environmental Matters. (i) Each of the Company Group Entities (x) is in compliance with all, and has not violated any,
applicable federal, state, local and foreign laws (including common law), rules, regulations, requirements, decisions, judgments, decrees,
orders and other legally enforceable requirements relating to pollution or the protection of human health or safety, the environment,
natural resources, hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”);
(y) has received and is in compliance with all, and has not violated any, permits, licenses, certificates or other authorizations
or approvals required under any Environmental Laws to conduct its business; and (z) has not received notice of any actual or potential
liability or obligation of any of the Company Group Entities under or relating to, or any actual or potential violation of, any Environmental
Laws, including for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants
or contaminants, and none of the Company Group Entities has knowledge of any event or condition that would reasonably be expected to
result in any such notice; (ii) there are no costs or liabilities associated with Environmental Laws of or relating to any of the
Company Group Entities, except in the case of each of (i) and (ii) above, for any such matter as would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse Effect; and (iii) except as described in each of the Time of
Sale Memorandum and the Final Memorandum, (x) there is no proceeding that is pending, or that is known by any of the Company Group
Entities to be contemplated, against any of the Company Group Entities under any Environmental Laws in which a governmental entity is
also a party, other than such proceeding regarding which it is reasonably believed no monetary sanctions of $300,000 or more will be
imposed, (y) none of the Company Group Entities is aware of any facts or issues regarding compliance with Environmental Laws, or
liabilities or other obligations under Environmental Laws or concerning hazardous or toxic substances or wastes, pollutants or contaminants,
that would reasonably be expected to have a Material Adverse Effect, and (z) none of the Company Group Entities anticipates material
capital expenditures relating to any Environmental Laws.
(aa) Compliance
with ERISA. (i) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), whether or not subject to ERISA, for which the Company or any member of its “Controlled
Group” (defined as any entity, whether or not incorporated, that is under common control with the Company within the meaning
of Section 4001(a)(14) of ERISA or any entity that would be regarded as a single employer with the Company under Section 414(b),(c),(m) or
(o) of the Code) would have any actual or contingent liability (each, a “Plan”) has been maintained in compliance
with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA
and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code,
has occurred with respect to any Plan, excluding transactions effected pursuant to a statutory or administrative exemption; (iii) for
each Plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no such Plan has failed
(whether or not waived), or is reasonably expected to fail, to satisfy the minimum funding standards (within the meaning of Section 302
of ERISA or Section 412 or Section 430 of the Code) applicable to such Plan; (iv) no Plan is, or is reasonably expected
to be, in “at risk status” (within the meaning of Section 303(i) of ERISA) and no Plan that is a “multiemployer
plan” within the meaning of Section 4001(a)(3) of ERISA is in “endangered status,” “critical status”
or “critical and declining status” (within the meaning of Sections 304 and 305 of ERISA) (v) the fair market value of
the assets of each Plan exceeds the present value of all benefits accrued under such Plan (determined based on those assumptions used
to fund such Plan); (vi) no “reportable event” (within the meaning of Section 4043(c) of ERISA and the regulations
promulgated thereunder) has occurred or is reasonably expected to occur; (vii) each Plan that is intended to be qualified under
Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which would cause
the loss of such qualification; (viii) neither the Company nor any member of the Controlled Group has incurred, nor reasonably expects
to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guarantee Corporation,
in the ordinary course and without default) in respect of a Plan (including a “multiemployer plan” within the meaning of
Section 4001(a)(3) of ERISA); and (ix) none of the following events has occurred or is reasonably likely to occur: (A) a
material increase in the aggregate amount of contributions required to be made to all Plans by the Company or its Controlled Group affiliates
in the current fiscal year of the Company and its Controlled Group affiliates compared to the amount of such contributions made in the
Company’s and its Controlled Group affiliates’ most recently completed fiscal year; or (B) a material increase in the
Company Group Entities’ “accumulated post-retirement benefit obligations” (within the meaning of Accounting Standards
Codification Topic 715-60) compared to the amount of such obligations in the Company Group Entities’ most recently completed fiscal
year, except in each case with respect to the events or conditions set forth in (i) through (ix) hereof, as would not, individually
or in the aggregate, have a Material Adverse Effect.
(bb) Compliance
with Health Care Laws. Except
as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company Group Entities
are, and for the past three years have been, in compliance with all applicable Health Care Laws, and have not engaged in activities which
are, as applicable, cause for false claims liability, civil penalties, or mandatory or permissive exclusion from any “federal health
care program” as defined in 42 U.S.C. § 1320a-7b(f) (the “Federal Health Care Programs”). The term
“Health Care Laws” means (i) all applicable federal, state and local health care anti-kickback, self-referral,
false claim, fraud and abuse laws and regulations, including the Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the Stark Law
(42 U.S.C. § 1395nn), the federal civil False Claims Act (31 U.S.C. §§ 3729 et seq.), the criminal False Claims Act (42
U.S.C. § 1320a-7b(a)), the exclusions laws (42 U.S.C. § 1320a-7), the civil monetary penalties law (42 U.S.C. § 1320a-7a),
18 U.S.C. §§ 286 and 287 and the health care fraud criminal provisions under the Health Insurance Portability and Accountability
Act of 1996 (“HIPAA”) and any applicable state fraud and abuse prohibitions, including those that apply to workers’
compensation programs, commercial insurance plans, governmental healthcare programs; (ii) the Medicare Statute (Title XVIII of the
Social Security Act); (iii) the Medicaid Statute (Title XIX of the Social Security Act); (iv) the TRICARE Statute (10 U.S.C.
§ 1071 et seq.); (v) HIPAA; (vi) all federal, state and local health care laws and regulations relating to licensure,
accreditation and credentialing of healthcare professionals and facilities, quality and safety, scope of practice and supervision, corporate
practice of medicine, therapy and other licensed healthcare professionals and professional fee-splitting; (vii) all federal, state
and local health care laws and regulations relating to the billing, coding, reimbursement or submission of claims or collection of accounts
receivable, copayments, or deductibles or refund of overpayments; (viii) any applicable laws and regulations related to the ordering,
dispensing, and diversion of controlled substances, including 21 U.S.C. § 801, et seq. (known as the “Controlled Substances
Act”); (ix) state workers’ compensation and insurance laws and regulations; and (x) in each case, as amended,
and all applicable implementing regulations, rules, ordinances and governmental orders related to any of the foregoing. Except as would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, in the past three years, none of the
Company Group Entities have received written notice of any Action from any court, arbitrator, governmental or regulatory authority or
third party of any non-compliance or violation of any Health Care Laws, and to the knowledge of any of the Company Group Entities, no
such Action is threatened. None of the Company Group Entities are parties or have any ongoing reporting obligations pursuant to any corporate
integrity agreements, deferred prosecution agreements, monitoring agreements, consent decrees or settlement orders with or imposed by
any governmental or regulatory authority. None of the Company Group Entities, nor to the knowledge of any of the Company Group Entities,
any of their respective employees, directors, officers, or agents, has been excluded, suspended or debarred from, or is otherwise ineligible
for participation in, any Federal Health Care Programs.
(cc) Health
Care Permits. Except as
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company Group Entities possess,
and for the past three years have possessed, all licenses, certificates, registrations, provider and supplier numbers, permits, accreditations,
exemptions, certificates of need, approvals and other authorizations required or issued by the appropriate federal, state or local governmental
or regulatory authorities (each, a “Health Care Permit”) that are necessary for the conduct of their respective businesses
and such Health Care Permits are valid and in full force and effect. During the past three years, none of the Company Group Entities
have received notice of any termination, suspension, revocation, non-renewal or modification of any Health Care Permit or have any reason
to believe that such Health Care Permit would not be renewed in the ordinary course, except where such termination, suspension, revocation,
non-renewal or material modification would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
(dd) Private
Programs, Government Programs and Payor Agreements. The Company Group Entities are, and for the past three years have been, in compliance
with (i) all applicable material conditions for coverage or payment and participating provider and supplier requirements of private
non-governmental payors or programs, including any commercial or private insurance payor or program, self-insured employer, or other
third-party payors (the “Private Programs”) and all Federal Health Care Programs and state workers’ compensation
programs (“Government Programs”), and (ii) where applicable, are parties to valid participation agreements with
any Government Program or Private Program under which the Company Group Entities directly or indirectly receives payments for medical
or other health care items and services provided to patients by the Company Group Entities (“Payor Agreements”). None
of the Company Group Entities have received any written notice of (i) any material liability under any Private Program or Government
Program for any refund, overpayment, discount, recoupments or adjustment, excluding ordinary course adjustments that were or will be
timely repaid or resolved or (ii) any Action that would reasonably be expected to result in exclusion, suspension, termination or
revocation from any Government Program or Private Program. Except as would not reasonably be expected to, individually or in the aggregate,
have a Material Adverse Effect, all reports, data, claims and information required to be filed by the Company Group Entities in connection
with any Government Program or Private Program in the past three years have been timely filed and were true and complete at the time
filed (or were corrected in or supplemented by a subsequent filing), accurately reflected medically necessary services provided by the
Company Group Entities, as applicable, and documented in compliance with all applicable Health Care Laws and Government Program and requirements.
No validation review, program integrity review, audit or other examination related to the Company Group Entities has been conducted by
any Government Program, Private Program, governmental or regulatory authority within the past three years (other than any such review,
audit or examination which is no longer pending and the results of which the Company Group Entities were advised of prior to September 30,
2024) which, if determined adversely to the Company Group Entities has had, or would reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect, and to the knowledge of any of the Company Group Entities, no such reviews, audits or other
examinations are scheduled, pending, threatened against or affecting the Company Group Entities.
(ee) Healthcare
Providers. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company
Group Entities are, and for the past three years have been, in compliance with all applicable Health Care Laws regarding the selection,
deselection, license verification, credentialing and supervision of contracted or employed physicians, other licensed healthcare providers
and other persons rendering services to patients.
(ff) Disclosure
Controls. Parent and its subsidiaries maintain an effective system of “disclosure controls and procedures” (as defined
in Rule 13a-15(e) of the Exchange Act) that complies with the applicable requirements of the Exchange Act and that has been
designed to ensure that material information required to be disclosed by Parent in reports that it files or submits under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms,
including controls and procedures designed to ensure that such information is accumulated and communicated to Parent’s management
as appropriate to allow timely decisions regarding required disclosure. Parent and its subsidiaries have carried out evaluations of the
effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.
(gg) Accounting
Controls. Parent and its subsidiaries maintain systems of “internal control over financial reporting” (as defined in
Rule 13a-15(f) of the Exchange Act) that comply with the applicable requirements of the Exchange Act and have been designed
by, or under the supervision of, their respective principal executive and principal financial officers, or persons performing similar
functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with GAAP. Parent and its subsidiaries maintain internal accounting controls designed to provide
reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations;
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization;
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences fairly presents the information called for in all material respects and is prepared in accordance
with the Commission’s rules and guidelines applicable thereto. There are no material weaknesses in Parent’s internal
controls. Parent’s auditors and the audit committee of the Board of Directors of Parent have been advised of: (i) all significant
deficiencies and material weaknesses in the design or operation of internal controls over financial reporting known to Parent and/or
its employees which have adversely affected or are reasonably likely to adversely affect Parent’s ability to record, process, summarize
and report financial information; and (ii) any fraud known to Parent and/or its employees, whether or not material, that involves
management or other employees who have a significant role in Parent’s internal controls over financial reporting.
(hh) Insurance.
The Company Group Entities have insurance covering their respective properties, operations, personnel and businesses, including business
interruption insurance, which insurance is in amounts and insures against such losses and risks as the each of the Company Group Entities
reasonably believes are customarily adequate to protect the Company Group Entities and their respective businesses taken as a whole;
and none of the Company Group Entities has (i) received notice from any insurer or agent of such insurer that material capital improvements
or other material expenditures are required or necessary to be made in order to continue such insurance or (ii) any reason to believe
that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at
reasonable cost from similar insurers as may be necessary to continue its business.
(ii) Cybersecurity.
The Company Group Entities’ information technology assets and equipment, computers, systems, networks, hardware, software,
websites, applications, data and databases (collectively, “IT Systems and Data”) are adequate for, and operate and
perform in all material respects as required in connection with the operation of the businesses of the Company Group Entities as currently
conducted, and to the knowledge of each of the Company Group Entities, are free and clear of all material bugs, errors, defects, Trojan
horses, time bombs, malware and other corruptants. The Company Group Entities have implemented and maintained commercially reasonable
controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous
operation, redundancy and security of all IT Systems and Data (including all personal, personally identifiable, sensitive, confidential
or regulated data) used in connection with their businesses, and commercially reasonable data backup and disaster recovery technology
and processes. Except as disclosed in each of the Time of Sale Memorandum and Final Memorandum, to the knowledge of the Company Group
Entities, there have been no material breaches, violations, outages or unauthorized uses of or accesses to the IT Systems and Data (or
any data stored or contained therein or transmitted thereby), except for those that have been remedied without material cost or liability
to any of the Company Group Entities or the duty to notify any other person, nor any incidents under internal review or investigations
relating to the same.
(jj) Compliance
with Data Protection Laws. Except as disclosed in each of the Time of Sale Memorandum and the Final Memorandum, (a) the Company
Group Entities are, and for the past three years have been, in material compliance with all applicable laws or statutes and all judgments,
orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, policies, applicable industry
standards and contractual obligations relating to the privacy and security of any information related to an identified or identifiable
natural person (“Personal Data”) and to the protection of IT Systems and Data from unauthorized use, access, misappropriation
or modification (collectively, the “Data Protection Requirements”); and (b) none of the Company Group Entities:
(i) has received written notice of any actual or potential liability under or relating to, or actual or potential violation of,
any of the Data Protection Requirements; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation,
or other corrective action pursuant to any Data Protection Requirement; or (iii) is a party to any order, decree, or agreement that
imposes any obligation or liability by any governmental or regulatory authority under any Data Protection Requirement. To the knowledge
of the Company Group Entities, the execution, delivery and performance of this Agreement will not result in a breach of any Data Protection
Requirements.
(kk) No
Unlawful Payments. None of the Company Group Entities, nor any director or officer of any of the Company Group Entities nor, to the
knowledge of any of the Company Group Entities, any employee, agent, affiliate or other person associated with or acting on behalf of
any of the Company Group Entities has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful
expense relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct
or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned
or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any
of the foregoing, or any political party or party official or candidate for political office; (iii) violated or is in violation
of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD
Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offense under the
Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed,
requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate,
payoff, influence payment, kickback or other unlawful or improper payment or benefit. The Company Group Entities have instituted, maintain
and enforce, and will continue to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable
anti-bribery and anti-corruption laws.
(ll) Compliance
with Anti-Money Laundering Laws. The operations of the Company Group Entities are and have been conducted at all times in compliance
with applicable financial recordkeeping and reporting requirements, including, to the extent applicable, those of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of all jurisdictions where any of the Company
Group Entities conducts business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines
issued, administered or enforced by any governmental or regulatory agency (collectively, the “Anti-Money Laundering Laws”)
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving any of
the Company Group Entities with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of any of the Company Group
Entities, threatened.
(mm) No
Conflicts with Sanctions Laws. None of the Company Group Entities, nor any director or officer of any of the Company Group Entities
nor, to the knowledge of any of the Company Group Entities, any employee, agent, affiliate or other person associated with or acting
on behalf of any of the Company Group Entities is currently the subject or the target of any sanctions administered or enforced by the
U.S. government, (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”)
or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or
“blocked person”), the United Nations Security Council (“UNSC”), the European Union, His Majesty’s
Treasury (“HMT”) or other relevant sanctions authority (collectively, “Sanctions”), nor is any
of the Company Group Entities domiciled, operating, organized or resident in a country or territory that is the subject or target of
Sanctions, including, without limitation, the Crimea Region of Ukraine, the so-called Donetsk People’s Republic, the so-called
Luhansk People’s Republic, Cuba, Iran, North Korea and Syria (each, a “Sanctioned Country”); and the Company
will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate in violation of Sanctions
any activities of or business with any person that, at the time of such funding or facilitation, is the subject or target of Sanctions,
(ii) to fund or facilitate in violation of Sanctions any activities of or business in any Sanctioned Country or (iii) in any
other manner that will result in a violation by any person (including any person participating in the transaction, whether as initial
purchaser, underwriter, advisor, investor or otherwise) of Sanctions. Since April 24, 2019, none of the Company Group Entities have
knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing
or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country.
(nn) No
Restrictions on Subsidiaries. None of the Company Group Entities is currently prohibited, directly or indirectly, under any agreement
or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution
on such subsidiary’s capital stock or similar ownership interest, from repaying to the Company any loans or advances to such subsidiary
from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the
Company.
(oo) No
Broker’s Fees. None of the Company Group Entities is a party to any contract, agreement or understanding with any person (other
than this Agreement) that would give rise to a valid claim against any of them or any Initial Purchaser for a brokerage commission, finder’s
fee or like payment in connection with the offering and sale of the Securities.
(pp) No
Stabilization. Neither the Company nor any of the Guarantors has taken, directly or indirectly, without giving effect to activities
by the Initial Purchasers, any action designed to or that would reasonably be expected to cause or result in any stabilization or manipulation
of the price of the Securities.
(qq) Margin
Rules. Neither the issuance, sale and delivery of the Securities nor the application of the proceeds thereof by the Company as described
in each of the Time of Sale Memorandum and the Final Memorandum will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System or any other regulation of such Board of Governors.
(rr) Forward-Looking
Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the
Exchange Act) included or incorporated by reference in any of the Time of Sale Memorandum or the Final Memorandum has been made or reaffirmed
without a reasonable basis or has been disclosed other than in good faith.
(ss) Statistical
and Market Data. Nothing has come to the attention of any of the Company Group Entities that has caused any of the Company Group
Entities to believe that the statistical and market-related data included or incorporated by reference in each of the Time of Sale Memorandum
or the Final Memorandum is not based on or derived from sources that are reliable and accurate in all material respects.
(tt) Sarbanes-Oxley
Act. There is and has been no failure on the part of the Parent or any of its directors or officers, in their capacities as such,
to comply with any applicable provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated
in connection therewith (the “Sarbanes-Oxley Act”), including Section 402 related to loans and Sections 302 and
906 related to certifications.
(uu) No
General Solicitation or Directed Selling Efforts. None of the Company, any of the Guarantors, or any person that directly, or indirectly
through one or more intermediaries, controls or is controlled by, the person specified (an “Affiliate”) of the Company,
any of the Guarantors or any person acting on its or their behalf (other than the Initial Purchasers, as to whom the Company and the
Guarantors make no representation or warranty) has, directly or indirectly, solicited any offer to buy or offered to sell, or will, directly
or indirectly, solicit any offer to buy or offer to sell, in the United States or to any United States citizen or resident, any security
which is or would be integrated with the sale of the Securities in a manner that would require the Securities to be registered under
the Securities Act. None of the Company, any of the Guarantors or their Affiliates, or any person acting on its or any of their behalf
(other than the Initial Purchasers, as to whom the Company and the Guarantors make no representation or warranty) has engaged or will
engage, in connection with the offering of the Securities, in any form of general solicitation or general advertising within the meaning
of Rule 502 under the Securities Act or in any manner involving a public offering within the meaning of Section 4(a)(2) of
the Securities Act. With respect to those Securities sold in reliance upon Regulation S, (i) none of the Company, any of the Guarantors
or their Affiliates or any person acting on their behalf (other than the Initial Purchasers, as to whom the Company and the Guarantors
make no representation or warranty) has engaged or will engage in any directed selling efforts within the meaning of Regulation S and
(ii) each of the Company, the Guarantors, their Affiliates and any person acting on their behalf (other than the Initial Purchasers,
as to whom the Company and the Guarantors make no representation or warranty) has complied and will comply with the offering restrictions
set forth in Regulation S.
(vv) Securities
Law Exemptions. Subject to compliance by the Initial Purchasers with the procedures set forth in Section 7 hereof, it is not
necessary in connection with the offer, sale and delivery of the Securities to the Initial Purchasers and to each Subsequent Purchaser
in the manner contemplated by this Agreement and the Time of Sale Memorandum to register the issuance, sale or resale of the Securities
under the Securities Act or to qualify the Indenture under the Trust Indenture Act of 1939 or the rules and regulations of the Commission
promulgated thereunder.
(ww) Rule 144A
Eligibility. The Securities are eligible for resale pursuant to Rule 144A and will not be, at the Closing Date, of the same
class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S.
automated interdealer quotation system; and each of the Preliminary Memorandum and the Final Memorandum, as of its respective date, contains
or will contain all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided
to such prospective purchaser pursuant to Rule 144A(d)(4) under the Securities Act.
(xx) Solvency.
On and immediately after the Closing Date, the Company and each Guarantor after the consummation of the Transactions, will be Solvent.
As used herein, the term “Solvent” means, with respect to any person on a particular date, that on such date (i) the
fair market value of the assets of such person is greater than the total amount of liabilities (including contingent liabilities) of
such person, (ii) the present fair salable value of the assets of such person is greater than the amount that will be required to
pay the probable liabilities of such person on its debts as they become absolute and matured, (iii) such person is able to realize
upon its assets and pay its debts and other liabilities, including contingent obligations, as they mature and (iv) such person does
not have unreasonably small capital.
(yy) Regulation
S. The Company, the Guarantors and their respective affiliates and all persons acting on their behalf (other than the Initial Purchasers,
as to whom the Company and the Guarantors make no representation) have complied with and will comply with the offering restrictions requirements
of Regulation S in connection with the offering of the Securities outside the United States and, in connection therewith, the Time of
Sale Memorandum will contain the disclosure required by Rule 902. Each of the Company and the Guarantors is a “reporting issuer”,
as defined in Rule 902 under the Securities Act.
2. Agreements
to Sell and Purchase(a) .
The Company hereby agrees to issue and sell to the Initial Purchasers, and the Guarantors hereby agree to guarantee the payment of principal
of, premium, if any, and interest on, and each Initial Purchaser, upon the basis of the representations and warranties herein contained,
but subject to the conditions hereinafter stated, agrees, severally and not jointly, to purchase from the Company the respective principal
amount of Securities set forth in Schedule I hereto opposite its name at a purchase price of 98.50% of the principal amount thereof (the
“Purchase Price”), plus accrued and unpaid interest, if any, from December 3, 2024 to the Closing Date.
3. Terms
of Offering. The Representative has advised the Company that the Initial Purchasers will make an offering of the Securities purchased
by the Initial Purchasers hereunder as soon as practicable as in the Representative’s judgment is advisable. The Company acknowledges
and agrees that the Initial Purchasers may offer and sell Notes to or through any affiliate of an Initial Purchaser and that any such
affiliate may offer and sell Securities purchased by it to or through any Initial Purchaser.
4. Payment
and Delivery. Payment for the Securities shall be made by wire transfer in federal or other funds immediately available in New York
City against delivery of such Securities for the respective accounts of the several Initial Purchasers at 10:00 a.m., New York City time,
on December 3, 2024, or at such other time on the same or such other date as shall be designated in writing by the Representative.
The time and date of such payment are hereinafter referred to as the “Closing Date.” Such delivery and payment shall
be made at the offices of Latham & Watkins LLP, 1271 Avenue of the Americas, New York, New York 10020 (or such other place as
may be agreed to by the Company and the Representative). The Company hereby acknowledges that circumstances under which the Representative
may provide notice to postpone the Closing Date as originally scheduled include, but are in no way limited to, any determination by the
Company or the Initial Purchasers to recirculate to investors copies of an amended or supplemented Final Memorandum or a delay as contemplated
by the provisions of Section 10 hereof.
The Securities shall be in
definitive form or global form, as specified by the Representative, and registered in such names and in such denominations as the Representative
shall request in writing not later than one full business day prior to the Closing Date. The Securities shall be delivered to the Representative
on the Closing Date for the respective accounts of the Initial Purchasers, with any transfer taxes payable in connection with the transfer
of the Securities to the Initial Purchasers duly paid, against payment of the Purchase Price therefor plus accrued interest, if any,
to the date of payment and delivery. Time shall be of the essence, and delivery at the time and place specified in this Agreement is
a condition to the obligations of the Initial Purchasers.
5. Conditions
to the Initial Purchasers’ Obligations. The several obligations of the Initial Purchasers to purchase and pay for the Securities
as provided herein on the Closing Date are subject to the satisfaction or waiver, as determined by the Representative in its sole discretion
of the following conditions precedent on or prior to the Closing Date:
(a) Subsequent
to the execution and delivery of this Agreement and prior to the Closing Date:
(i) there
shall not have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading or of any review
for a possible change that does not indicate the direction of the possible change, in the rating accorded the Company or any of the securities
of Parent or any of its subsidiaries by any “nationally recognized statistical rating organization,” as such term is defined
in Section 3(a)(62) of the Exchange Act; and
(ii) there
shall not have occurred any change, or any development involving a prospective change, in the condition, financial or otherwise, or in
the earnings, business or operations of the Company Group Entities, taken as a whole, from that set forth in the Time of Sale Memorandum
provided to the prospective purchasers of the Securities that, in the Representative’s judgment, is material and adverse and that
makes it, in the Representative’s judgment, impracticable to proceed with the offering, sale or delivery of the Securities on the
terms and in the manner contemplated in the Time of Sale Memorandum.
(b) The
representations and warranties of the Company and the Guarantors contained in this Agreement shall be true and correct on and as of the
Time of Sale and on and as of the Closing Date as if made on and as of the Closing Date; the statements of the Company, the Guarantors
and their respective officers made pursuant to any certificate delivered in accordance with the provisions hereof shall be true and correct
in all material respects on and as of the date made and on and as of the Closing Date; the Company and the Guarantors shall have performed
all covenants and agreements in all material respects and satisfied all conditions on their part to be performed or satisfied hereunder
at or prior to the Closing Date.
(c) The
Initial Purchasers shall have received on the Closing Date a certificate, dated the Closing Date and signed by the Chief Executive Officer
or President of the Company and the Chief Financial Officer or Chief Accounting Officer of the Company to the effect set forth in Section 5(a)(i) and
5(a)(ii), and further to the effect that (x) the representations and warranties of the Company and the Guarantors contained in this
Agreement were true and correct in all material respects as of the Time of Sale and as of the Closing Date, provided that each
such representation or warranty that contains materiality qualification in the text of such representation or warranty were true and
correct in all respects; (y) the Company and the Guarantors have complied in all material respects with all of the agreements and
satisfied all of the conditions on their part to be performed or satisfied hereunder (unless otherwise waived by the Initial Purchasers
hereunder) on or before the Closing Date; and (z) the sale of the Securities has not been enjoined (temporarily or permanently).
(d) The
Initial Purchasers shall have received on the Closing Date an opinion and negative assurance letter of Dechert LLP, outside counsel for
the Company, dated the Closing Date, in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers.
Such opinion and letter shall be rendered to the Initial Purchasers at the request of the Company and shall so state therein. In rendering
such opinion, Dechert LLP shall have received and may rely upon any certificates and other documents and information as it may reasonably
request to pass upon such matters.
(e) The
Initial Purchasers shall have received on the Closing Date an opinion from Reed Smith LLP, special regulatory counsel for the Company,
dated the Closing Date, in form and substance reasonably satisfactory to the Representative on behalf of the Initial Purchasers. Such
opinion shall be rendered to the Initial Purchasers at the request of the Company and shall so state therein. In rendering such opinion,
Reed Smith LLP shall have received and may rely upon any certificates and other documents and information as it may reasonably request
to pass upon such matters.
(f) The
Initial Purchasers shall have received on the Closing Date an opinion and negative assurance letter of Latham & Watkins LLP,
counsel for the Initial Purchasers, dated the Closing Date, with respect to such matters as may be reasonably requested by the Initial
Purchasers.
(g) On
the date hereof, the Initial Purchasers shall have received from PricewaterhouseCoopers LLP, the independent registered public accounting
firm for Parent, a “comfort letter” dated the date hereof addressed to the Initial Purchasers, in form and substance reasonably
satisfactory to the Representative, covering the financial information included or incorporated by reference in the Time of Sale Memorandum
and other customary matters. In addition, on the Closing Date, the Initial Purchasers shall have received from such accountants a “bring-down
comfort letter” dated the Closing Date addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the
Representative, in the form of the “comfort letter” delivered on the date hereof, except that (i) it shall cover the
financial information included or incorporated by reference in the Final Memorandum and any amendment or supplement thereto and (ii) procedures
shall be brought down to a date no more than two business days prior to the Closing Date.
(h) On
the date hereof and on the Closing Date, the Chief Financial Officer of Parent shall have furnished to the Initial Purchasers a certificate,
dated the respective dates of delivery, each in form and substance reasonably satisfactory to the Representative, with respect to certain
financial data included in the Time of Sale Memorandum and the Final Memorandum.
(i) (x) The
Company and the Guarantors shall have duly executed and delivered the Indenture, in form and substance reasonably satisfactory to the
Initial Purchasers, and the Initial Purchasers shall have received executed copies thereof and (y) the Securities shall have been
duly executed and delivered by the Company or the Guarantors, and the Notes shall have been duly authenticated by the Trustee.
(j) [Reserved].
(k) No
action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state
or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities on
the Closing Date; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing
Date, prevent the issuance and sale of the Securities on the Closing Date.
(l) On
or before the Closing Date, the Initial Purchasers and counsel for the Initial Purchasers shall have received such information, documents,
letters and opinions as they may reasonably require for the purposes of enabling them to pass upon the issuance and sale of the Securities
as contemplated herein, or in order to evidence the accuracy of any of the representations and warranties, or the satisfaction of any
of the conditions or agreements, herein contained.
(m) The
Securities shall be eligible for clearance and settlement through The Depository Trust Company.
If any condition specified
in this Section 5 is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Representative
by notice to the Company at any time on or prior to the Closing Date, which termination shall be without liability on the part of any
party to any other party, except that Sections 6(g), 8 and 11 hereof shall at all times be effective and shall survive such termination.
6. Covenants
of the Company and the Guarantors. Each of the Company and the Guarantors, jointly and severally, covenants and agrees with each
Initial Purchaser as follows:
(a) To
furnish to the Initial Purchasers, without charge, as promptly as practicable following the Time of Sale and in any event not later than
the second business day following the date hereof and during the period mentioned in Section 6(d) or (e), as many copies of
the Time of Sale Memorandum, the Final Memorandum, any documents incorporated by reference therein and any supplements and amendments
thereto as they may reasonably request.
(b) Before
amending or supplementing the Preliminary Memorandum, the Time of Sale Memorandum or the Final Memorandum, to furnish to the Initial
Purchasers a copy of each such proposed amendment or supplement and not to use any such proposed amendment or supplement to which they
reasonably object.
(c) To
furnish to the Initial Purchasers a copy of each proposed Additional Written Communication to be prepared by or on behalf of, used by,
or referred to by the Company and not to use or refer to any proposed Additional Written Communication to which they reasonably object.
(d) If
at any time prior to the Closing Date (i) any event shall occur or condition shall exist as a result of which any of the Time of
Sale Memorandum as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading or (ii) it
is necessary to amend or supplement the Time of Sale Memorandum to comply with law, the Company will immediately notify the Initial Purchasers
thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements
to the Time of Sale Memorandum (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary
so that the statements in any of the Time of Sale Memorandum as so amended or supplemented (including such documents to be incorporated
by reference therein) will not, in the light of the circumstances under which they were made, be misleading or so that any of the Time
of Sale Memorandum will comply with law.
(e) If,
during such period after the date hereof and prior to the date on which all of the Securities shall have been sold by the Initial Purchasers,
any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Final Memorandum in order to
make the statements therein, in the light of the circumstances under which they are made, not misleading or if, in the judgment of the
Representative or counsel for the Initial Purchasers, it is necessary to amend or supplement the Final Memorandum to comply with applicable
law, subject to paragraph (b) above, forthwith to prepare and furnish, at its own expense, to the Initial Purchasers, either amendments
or supplements to the Final Memorandum so that the statements in the Final Memorandum as so amended or supplemented will not, in the
light of the circumstances under which they are made, when delivered to a Subsequent Purchaser, be misleading or so that the Final Memorandum,
as amended or supplemented, will comply with applicable law.
(f) (i) To
cooperate with the Representative and counsel for the Initial Purchasers to qualify or register (or to obtain exemptions from qualifying
or registering) all or any part of the Securities for offer and sale under the securities laws of the several states of the United States,
the provinces of Canada or any other jurisdictions designated by the Initial Purchasers, and to comply with such laws and to continue
such qualifications, registrations and exemptions in effect so long as required for the distribution of the Securities and (ii) to
advise the Representative promptly of the suspension of the qualification or registration of (or any such exemption relating to) the
Securities for offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and
in the event of the issuance of any order suspending such qualification, registration or exemption, to use its commercially reasonable
efforts to obtain the withdrawal thereof at the earliest possible moment. Notwithstanding the foregoing, none of the Company or any of
the Guarantors shall be required to qualify as a foreign corporation or to take any action that would subject it to general service of
process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as a foreign corporation.
(g) Whether
or not the transactions contemplated in this Agreement are consummated or this Agreement is terminated, to pay or cause to be paid all
expenses incident to the performance of its obligations under this Agreement, including: (i) the fees, disbursements and expenses
of the Company’s counsel and the Company’s accountants and other advisors in connection with the issuance and sale of the
Securities and all other fees or expenses in connection with the issuance and sale of the Securities, including, without limitation,
in connection with the preparation, printing, filing, shipping and distribution of the Preliminary Memorandum, the Time of Sale Memorandum,
the Final Memorandum, any Additional Written Communication and any amendments and supplements to any of the foregoing, this Agreement,
the Indenture and the Securities, including all printing costs associated therewith, and the delivering of copies thereof to the Initial
Purchasers, (ii) all reasonable costs and expenses related to the transfer and delivery of the Securities to the Initial Purchasers,
including any transfer or other taxes payable thereon, (iii) the cost of printing or producing any Blue Sky or legal investment
memorandum in connection with the offer and sale of the Securities under state securities laws and all expenses in connection with the
qualification of the Securities for offer and sale under state securities laws as provided in Section 6(f) hereof, including
filing fees and the reasonable fees and disbursements of counsel for the Initial Purchasers in connection with such qualification and
in connection with the Blue Sky or legal investment memorandum, (iv) any fees charged by rating agencies for the rating of the Securities,
(v) the fees and expenses, if any, incurred in connection with the admission of the Securities for trading any appropriate market
system, (vi) the reasonable costs, charges and counsel fees of the Trustee and any transfer agent, registrar or depositary, (vii) the
cost of the preparation, issuance and delivery of the Securities, (viii) the costs and expenses of the Company relating to investor
presentations on any “road show” undertaken in connection with the marketing of the offering of the Securities, including,
without limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with production
of road show slides and graphics, fees and reasonable out-of-pocket expenses of any consultants engaged in connection with the road show
presentations with the prior approval of the Company, travel and lodging expenses of the representatives and officers of the Company
and any such consultants, and 50% of the cost of any aircraft chartered in connection with the road show, and (ix) the document
production charges and expenses associated with printing each of the Transaction Documents. It is understood, however, that except as
provided in this Section 6(g), Section 8 and Section 11, the Initial Purchasers will pay all of their costs and expenses,
including fees and disbursements of their counsel, transfer taxes payable on resale of any of the Securities by them and any advertising
expenses connected with any offers they may make.
(h) None
of the Company, the Guarantors, or any affiliate (as defined in Rule 501(b) of Regulation D under the Securities Act) has or
will, directly or through any agent, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
(as defined in the Securities Act) which if, as a result of the doctrine of “integration” referred to in Rule 502 under
the Securities Act, such offer or sale would be integrated with the sale of the Securities hereunder in a manner that would require registration
of the Securities under the Securities Act or would otherwise render invalid (for the purpose of (i) the sale of the Securities
by the Company to the Initial Purchasers, (ii) the resale of the Securities by the Initial Purchasers to the Subsequent Purchasers
or (iii) the resale of the Securities by such Subsequent Purchasers to others) the exemption from the registration requirements
of the Securities Act provided by Section 4(a)(2) thereof or by Rule 144A or by Regulation S thereunder or otherwise.
(i) Not
to solicit any offer to buy or offer or sell the Securities by means of any form of general solicitation or general advertising (as those
terms are used in Rule 502(c) of Regulation D under the Securities Act) or in any manner involving a public offering within
the meaning of Section 4(a)(2) of the Securities Act.
(j) (i) For
so long as any of the Securities remain outstanding, to furnish to the Initial Purchasers copies of all reports and other communications
(financial or otherwise) furnished by the Company to the Trustee or to the holders of the Securities; (ii) prior to the Closing
Date, to furnish to the Initial Purchasers, as soon as they have been prepared, a copy of any audited annual financial statements or
unaudited interim financial statements of the Company for any period subsequent to the period covered by the most recent financial statements
appearing or incorporated by reference in the Time of Sale Memorandum and the Final Memorandum; and (iii) while any of the Securities
remain outstanding, to make available, upon request, to any holder of such Securities and any prospective purchasers thereof the information
specified in Rule 144A(d)(4) under the Securities Act, unless as such time the Company shall be subject to Section 13
or 15(d) of the Exchange Act and shall have filed all reports required to be filed pursuant to such Sections and the related rules and
regulations of the Commission.
(k) During
the period of two years after the Closing Date, neither the Company nor any Guarantor will be, nor will it become, an open-end investment
company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the
Investment Company Act.
(l) None
of the Company, any Guarantor or their respective Affiliates, nor any person acting on its or their behalf (other than the Initial Purchasers)
will engage in any directed selling efforts (as that term is defined in Regulation S) with respect to the Securities, and the Company,
the Guarantors their respective Affiliates and each person acting on its or their behalf (other than the Initial Purchasers) will comply
with the offering restrictions requirement of Regulation S.
(m) Each
of the Company and the Guarantors will not permit any of its subsidiaries, and will use its reasonable best efforts not to permit any
of its affiliates (as defined in Rule 144 under the Securities Act), to resell any of the Securities that have been acquired by
any of them, except for Securities purchased by the Company or any of its affiliates and resold in a transaction registered under the
Securities Act.
(n) Neither
the Company nor any Guarantor will take any action prohibited by Regulation M under the Exchange Act in connection with the distribution
of the Securities contemplated hereby.
(o) The
Company will apply the net proceeds from the sale of the Securities in the manner described under the caption “Use of Proceeds”
in the Time of Sale Memorandum and the Final Memorandum.
(p) During
the period of 90 days following the date hereof, the Company will not and will not permit any of its subsidiaries to, without the prior
written consent of J.P. Morgan Securities LLC (which consent may be withheld at the sole discretion of J.P. Morgan Securities LLC), directly
or indirectly, sell, offer, contract or grant any option to sell, pledge, transfer or establish an open “put equivalent position”
within the meaning of Rule 16a-1 under the Exchange Act, or otherwise dispose of or transfer, or announce the offering of, or file
any registration statement under the Securities Act in respect of, any debt securities of the Company or any of its subsidiaries or securities
exchangeable for or convertible into debt securities of the Company or any of its subsidiaries (other than as contemplated by this Agreement).
7. Offering
of Securities; Restrictions on Transfer.
(a) Each
Initial Purchaser, severally and not jointly, represents and warrants that such Initial Purchaser:
(i) is
a qualified institutional buyer within the meaning of Rule 144A under the Securities Act and an accredited investor within the meaning
of Rule 501(a) of Regulation D under the Securities Act;
(ii) it
has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities by means of any form
of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act or
in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act; and
(iii) has
not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities as part of their initial
offering except:
(A) to
persons whom it reasonably believes to be qualified institutional buyer within the meaning of Rule 144A under the Securities Act
in transactions pursuant to Rule 144A under the Securities Act and in connection with each such sale, it has taken or will take
reasonable steps to ensure that the purchaser of the Securities is aware that such sale is being made in reliance on Rule 144A under
the Securities Act; or
(B) in
accordance with the restrictions set forth in Annex B hereto.
8. Indemnity
and Contribution.
(a) Each
of the Company and the Guarantors, jointly and severally, agrees to indemnify and hold harmless each Initial Purchaser, its directors
and officers and each person, if any, who controls any Initial Purchaser within the meaning of either Section 15 of the Securities
Act or Section 20 of the Exchange Act, and each affiliate of each Initial Purchaser within the meaning of Rule 405 under the
Securities Act from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation, any legal
or other expenses reasonably incurred in connection with defending or investigating any such action or claim, as such expenses are incurred)
arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained or incorporated by reference
in the Preliminary Memorandum, the Time of Sale Memorandum or any amendment or supplement thereto, any Additional Written Communication
prepared by or on behalf of, used by, or referred to by the Company Group Entities, or the Final Memorandum or any amendment or supplement
thereto, or any omission or alleged omission to state therein a material fact necessary to make the statements therein in the light of
the circumstances under which they were made not misleading, except insofar as such losses, claims, damages or liabilities arise out
of or are based upon by any such untrue statement or omission or alleged untrue statement or omission based upon information relating
to any Initial Purchaser furnished to the Company by such Initial Purchaser through the Representative expressly for use in the Time
of Sale Memorandum, any Additional Written Communication or the Final Memorandum (or any amendment or supplement thereto), it being understood
and agreed that the only such information so furnished is as set forth in Section 8(b). The indemnity agreement set forth in this
Section 8(a) shall be in addition to any liabilities that the Company and the Guarantors may otherwise have.
(b) Each
Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless the Company and each of the Guarantors, each of their
respective directors, officers and each person, if any, who controls the Company or any Guarantor within the meaning of either Section 15
of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Company and the Guarantors
to such Initial Purchaser, but only with reference to information relating to such Initial Purchaser furnished to the Company by such
Initial Purchaser through the Representative expressly for use in the Time of Sale Memorandum, any Additional Written Communication or
the Final Memorandum (or any amendment or supplement thereto). Each of the Company and the Guarantors hereby acknowledges that the only
information that the Initial Purchasers through the Representative have furnished to the Company expressly for use in the Preliminary
Memorandum, the Time of Sale Memorandum, any Additional Written Communication or the Final Memorandum (or any amendment or supplement
thereto) are the statements set forth in the third and fourth sentences of the eighth paragraph and in the tenth and eleventh paragraphs
under the caption “Plan of distribution” in the Preliminary Memorandum and the Final Memorandum. The indemnity agreement
set forth in this Section 8(b) shall be in addition to any liabilities that each Initial Purchaser may otherwise have.
(c) In
case any proceeding (including any governmental investigation) shall be instituted involving any person in respect of which indemnity
may be sought pursuant to Section 8(a) or 8(b), such person (the “indemnified party”) shall promptly notify
the person against whom such indemnity may be sought (the “indemnifying party”) in writing; provided, however,
that the failure to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party
under paragraph (a) or (b) above, except to the extent that it has been materially prejudiced by such failure (through the
forfeiture of substantive rights and defenses) and shall not relieve the indemnifying party from any liability that the indemnifying
party may have to an indemnified party other than under paragraph (a) or (b) above. The indemnifying party, upon request of
the indemnified party, shall retain counsel reasonably satisfactory to the indemnified party to represent the indemnified party and any
others the indemnifying party may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such
proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of
such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified party shall
have mutually agreed to the retention of such counsel, (ii) the indemnifying party has failed within a reasonable time to retain
counsel reasonably satisfactory to the indemnified party, (iii) the indemnified party shall have reasonably concluded that there
may be legal defenses available to it that are different from or in addition to those available to the indemnifying party or another
indemnified party represented by such counsel, or (iv) the named parties to any such proceeding (including any impleaded parties)
include both the indemnifying party (and/or other indemnified parties) and such indemnified party and representation of both parties
by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the indemnifying
party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in
the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel and any additional
counsel engaged pursuant to clauses (iii) and (iv) above) for all such indemnified parties and that all such fees and expenses
shall be paid or reimbursed as they are incurred. Such firm shall be designated in writing by the Representative, in the case of parties
indemnified pursuant to Section 8(a), and by the Company, in the case of parties indemnified pursuant to Section 8(b). The
indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with
such consent, the indemnifying party agrees to indemnify the indemnified party from and against any loss, claim, damage, liability or
expense by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested
an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences
of this paragraph, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request
and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date
of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of
any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have
been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from
all liability on claims that are the subject matter of such proceeding and does not include any statements as to or any findings or admissions
of fault, culpability or failure to act by or on behalf of any indemnified party.
(d) To
the extent the indemnification provided for in Section 8(a) or 8(b) is unavailable to an indemnified party or insufficient
in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party under such paragraph,
in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as
a result of such losses, claims, damages, liabilities or expenses (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Guarantors on the one hand and the Initial Purchasers on the other hand from the offering of
the Securities or (ii) if the allocation provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion
as is appropriate to reflect not only the relative benefits referred to in clause 8(d)(i) above but also the relative fault of the
Company and the Guarantors on the one hand and of the Initial Purchasers on the other hand in connection with the statements or omissions
that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits
received by the Company and the Guarantors on the one hand and the Initial Purchasers on the other hand in connection with the offering
of the Securities shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Securities (before
deducting expenses) received by the Company and the total discounts and commissions received by the Initial Purchasers bear to the aggregate
offering price of the Securities. The relative fault of the Company and the Guarantors on the one hand and of the Initial Purchasers
on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Guarantors, or
by the Initial Purchasers, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. The Initial Purchasers’ respective obligations to contribute pursuant to this Section 8(d) are
several in proportion to the respective principal amount of Securities they have purchased hereunder as set forth opposite their names
in Schedule I hereto, and not joint.
(e) Each
of the Company, the Guarantors and the Initial Purchasers agree that it would not be just or equitable if contribution pursuant to Section 8(d) were
determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for such purpose) or by any other
method of allocation that does not take account of the equitable considerations referred to in Section 8(d). The amount paid or
payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in Section 8(d) shall
be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (e),
no Initial Purchaser shall be obligated to make contributions hereunder that in the aggregate exceed the total discounts, commissions
and other compensation received by such Initial Purchaser under this Agreement, less the aggregate amount of any damages that such Initial
Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8
are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.
(f) The
indemnity and contribution provisions contained in this Section 8 and the representations, warranties and other statements of the
Company and the Guarantors contained in this Agreement shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of any Initial Purchaser, its officers and directors,
any person controlling any Initial Purchaser or any affiliate of any Initial Purchaser or by or on behalf of the Company, its officers
or directors or any person controlling the Company and (iii) acceptance of and payment for any of the Securities.
9. Termination.
The Representative may terminate this Agreement by notice given by it to the Company, if after the execution and delivery of this Agreement
and prior to the Closing Date (i) trading generally shall have been suspended or materially limited on, or by, as the case may be,
any of the New York Stock Exchange, NYSE Amex Equities, the NASDAQ Stock Market, the Chicago Board of Options Exchange, the Chicago Mercantile
Exchange, the Chicago Board of Trade or the over-the-counter market, (ii) trading of any securities issued or guaranteed by Parent,
the Company or any of the Guarantors shall have been suspended on any exchange or in any over-the-counter market, (iii) a material
disruption in securities settlement, payment or clearance services in the United States shall have occurred, (iv) any moratorium
on commercial banking activities shall have been declared by federal or New York State authorities or (v) there shall have occurred
any outbreak or escalation of hostilities, or any change in financial markets or any calamity or crisis, either within or outside the
United States, that in the Representative’s judgment, is material and adverse and which, singly or together with any other event
specified in this clause (v), makes it, in the judgment of the Representative, impracticable or inadvisable to proceed with the offer,
sale or delivery of the Securities on the terms and in the manner contemplated in the Time of Sale Memorandum or the Final Memorandum.
10. Effectiveness;
Defaulting Initial Purchasers. This Agreement shall become effective as of the date first written above.
If, on the Closing Date,
any one or more of the Initial Purchasers shall fail or refuse to purchase Securities that it or they have agreed to purchase hereunder
on such date, and the aggregate principal amount of Securities which such defaulting Initial Purchaser or Initial Purchasers agreed but
failed or refused to purchase is not more than one-tenth of the aggregate principal amount of Securities to be purchased on such date,
the other Initial Purchasers shall be obligated severally in the proportions that the principal amount of Securities set forth opposite
their respective names in Schedule I bears to the aggregate principal amount of Securities set forth opposite the names of all such non-defaulting
Initial Purchasers, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Initial
Purchasers, to purchase the Securities which such defaulting Initial Purchaser or Initial Purchasers agreed but failed or refused to
purchase on the Closing Date; provided that in no event shall the principal amount of Securities that any Initial Purchaser has
agreed to purchase pursuant to this Agreement be increased pursuant to this Section 10 by an amount in excess of one-tenth of such
principal amount of Securities without the written consent of such Initial Purchaser. If, on the Closing Date any Initial Purchaser or
Initial Purchasers shall fail or refuse to purchase Securities which it or they have agreed to purchase hereunder on such date and the
aggregate principal amount of Securities with respect to which such default occurs is more than one-tenth of the aggregate principal
amount of Securities to be purchased on the Closing Date, and arrangements satisfactory to the non-defaulting Initial Purchasers and
the Company for the purchase of such Securities are not made within 36 hours after such default, this Agreement shall terminate without
liability on the part of any non-defaulting Initial Purchaser or of the Company or any Guarantor except that the provisions of Sections
6(g), 8 and 11 hereof shall at all times be effective and shall survive such termination. In any such case either the Representative
or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days, in order that the required
changes, if any, in the Time of Sale Memorandum, the Final Memorandum or in any other documents or arrangements may be effected. As used
in this Agreement, the term “Initial Purchaser” shall be deemed to include any person substituted for a defaulting
Initial Purchaser under this Section 10. Any action taken under this paragraph shall not relieve any defaulting Initial Purchaser
from liability in respect of any default of such Initial Purchaser under this Agreement.
11. Reimbursement
of the Expenses of the Initial Purchasers. If this Agreement shall be terminated by the Representative pursuant to Section 9
or because of any failure or refusal on the part of the Company or any Guarantor to comply with the terms or to fulfill any of the conditions
of this Agreement, or if for any reason the Company or any Guarantor shall be unable to perform its obligations under this Agreement,
the Company and each of the Guarantors, jointly and severally, will reimburse the Initial Purchasers, severally, upon demand for all
reasonable and documented out-of-pocket expenses (including the fees and disbursements of their counsel) reasonably incurred by such
Initial Purchasers in connection with this Agreement or the offering contemplated hereunder.
12. Entire
Agreement.
(a) This
Agreement, together with any contemporaneous written agreements and any prior written agreements (to the extent not superseded by this
Agreement) that relate to the offering of the Securities, represents the entire agreement among the Company and the Guarantors, on the
one hand, and the Initial Purchasers, on the other hand, with respect to the preparation of the Preliminary Memorandum, the Time of Sale
Memorandum, the Final Memorandum, the conduct of the offering, and the purchase and sale of the Securities.
(b) This
Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company, the Guarantors and the Initial
Purchasers, or any of them, with respect to the subject matter hereof.
(c) The
Company and the Guarantors acknowledge that in connection with the offering of the Securities: (i) the Initial Purchasers have acted
at arm’s length, are not agents of, and owe no fiduciary duties to, the Company, the Guarantors or any other person, (ii) the
Initial Purchasers owe the Company and the Guarantors only those duties and obligations set forth in this Agreement and prior written
agreements (to the extent not superseded by this Agreement) if any, (iii) the Initial Purchasers may have interests that differ
from those of the Company and the Guarantors, and (iv) the Initial Purchasers have not provided any legal, accounting, regulatory
or tax advice with respect to the offering contemplated hereby, and the Company and the Guarantors have consulted their own legal, accounting,
regulatory and tax advisors to the extent they deemed appropriate. The Company and the Guarantors waive to the full extent permitted
by applicable law any claims it may have against the Initial Purchasers arising from an alleged breach of fiduciary duty in connection
with the offering of the Securities.
13. Counterparts.
This Agreement may be signed in two or more counterparts, each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by telecopier,
facsimile or other electronic transmission (i.e., a “pdf” or “tif”) shall be effective as delivery of a manually
executed counterpart thereof.
14. Successors.
This Agreement will inure to the benefit of and be binding upon the parties hereto, and to the benefit of the indemnified parties referred
to in Section 8 hereof, and in each case their respective successors, and no other person will have any right or obligation hereunder.
The term “successors” shall not include any Subsequent Purchaser or other purchaser of the Securities as such from
any of the Initial Purchasers merely by reason of such purchase.
15. Partial
Unenforceability. The invalidity or unenforceability of any section, paragraph or provision of this Agreement shall not affect the
validity or enforceability of any other section, paragraph or provision hereof. If any section, paragraph or provision of this Agreement
is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor
changes) as are necessary to make it valid and enforceable.
16. Authority
of the Representative. Any action by the Initial Purchasers hereunder may be taken by the Representative on behalf of the Initial
Purchasers, and any such action taken by the Representative shall be binding upon the Initial Purchasers.
17. Applicable
Law. This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed
in accordance with the internal laws of the State of New York.
Any legal suit, action or
proceeding arising out of or based upon this Agreement or the transactions contemplated hereby (“Related Proceedings”)
may be instituted in the federal courts of the United States of America located in the City and County of New York or the courts of the
State of New York in each case located in the City and County of New York (collectively, the “Specified Courts”),
and each party irrevocably submits to the exclusive jurisdiction (except for suits, actions, or proceedings instituted in regard to the
enforcement of a judgment of any Specified Court in a Related Proceeding (a “Related Judgment”), as to which such
jurisdiction is non-exclusive) of the Specified Courts in any Related Proceeding. Service of any process, summons, notice or document
by mail to such party’s address set forth above shall be effective service of process for any Related Proceeding brought in any
Specified Court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any Specified Proceeding in
the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any Specified Court that any Related
Proceeding brought in any Specified Court has been brought in an inconvenient forum. Each party not located in the United States irrevocably
appoints CT Corporation System as its agent to receive service of process or other legal summons for purposes of any Related Proceeding
that may be instituted in any Specified Court.
Each of the parties hereto
hereby waives any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement.
18. Recognition
of the U.S. Special Resolution Regimes. (i) In the event that any Initial Purchaser that is a Covered Entity becomes subject
to a proceeding under a U.S. Special Resolution Regime, the transfer from such Initial Purchaser of this Agreement, and any interest
and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special
Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state
of the United States. (ii) In the event that any Initial Purchaser that is a Covered Entity or a BHC Act Affiliate of such Initial
Purchaser becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised
against such Initial Purchaser are permitted to be exercised to no greater extent than such Default Rights could be exercised under the
U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.
As used in this Section 18:
“BHC Act Affiliate”
has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k).
“Covered Entity”
means any of the following:
(i) a
“covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);
(ii) a
“covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or
(iii) a
“covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Default Right”
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1,
as applicable.
“U.S. Special Resolution
Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title
II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.
19. Headings.
The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed a part
of this Agreement.
20. Notices.
All communications hereunder shall be in writing and effective only upon receipt and if to the Initial Purchasers shall be delivered,
mailed or sent to the Initial Purchasers in care of J.P. Morgan Securities LLC, at 383 Madison Avenue, New York, New York 10179, Attention:
Romeo Raugei, with a copy to the Legal Department; and if to the Company shall be delivered, mailed or sent to Select Medical Holdings
Corporation, 4714 Gettysburg Road, P.O. Box 2034, Mechanicsburg, Pennsylvania 17055, Attention: Senior Executive Vice President,
General Counsel and Secretary, with a copy (which shall not constitute notice) to Dechert LLP, 2929 Arch Street, Philadelphia, PA 19104,
Attention: Stephen Leitzell; Ani Ravi.
21. Patriot
Act. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)),
the Initial Purchasers are required to obtain, verify and record information that identifies their respective clients, including the
Company and the Guarantors, which information may include the name and address of their respective clients, as well as other information
that will allow the Initial Purchasers to properly identify their respective clients.
[Signature Pages Follow]
If the foregoing is in accordance
with your understanding of our agreement, kindly sign and return to the Company the enclosed copies hereof, whereupon this instrument,
along with all counterparts hereof, shall become a binding agreement in accordance with its terms.
| |
Very truly yours, |
| |
|
|
| |
SELECT MEDICAL CORPORATION |
| |
|
|
| |
By: |
/s/ Michael E. Tarvin |
| |
|
Name: |
Michael E. Tarvin |
| |
|
Title: |
Senior Executive Vice President, General Counsel and Secretary |
| |
|
|
|
| |
|
|
| |
EACH OF THE SUBSIDIARIES LISTED ON |
| |
SCHEDULE II HERETO |
| |
|
|
| |
By: |
/s/ Michael E. Tarvin |
| |
|
Name: |
Michael E. Tarvin |
| |
|
Title: |
Vice President |
[Signature Page to Purchase
Agreement]
Accepted as of the date hereof
J.P. MORGAN SECURITIES LLC
| Acting on behalf of itself and as the Representative of |
|
| the several Initial Purchasers named in Schedule I hereto. |
|
| |
|
|
| By: |
J.P. Morgan Securities LLC |
|
| |
|
|
| By: |
/s/ Clifford P. Wagner III |
|
| |
Name: |
Clifford P. Wagner III |
|
| |
Title: |
Executive Director |
|
[Signature Page to Purchase
Agreement]
SCHEDULE I
SCHEDULE II
Guarantors
| 1. |
Actra Rehabilitation Associates,Inc. |
| 2. |
Acuity General Partner, LLC |
| 3. |
Acuity Healthcare Holdings,Inc. |
| 4. |
Acuity Healthcare Management, L.L.C. |
| 5. |
Acuity Healthcare of Ohio, L.L.C. |
| 6. |
Acuity Healthcare, LP |
| 7. |
Acuity Holdings, LLC |
| 8. |
Advantage Rehabilitation Clinics,Inc. |
| 9. |
Alexandria Sports,Inc. |
| 10. |
Argosy Health, LLC |
| 11. |
Benchmark Acquisition Corp. |
| 12. |
Benchmark Medical Management Company |
| 13. |
Benchmark O& P Holdings,Inc. |
| 14. |
Benchmark Orthotics& Prosthetics,Inc. |
| 15. |
BHSM ES,Inc. |
| 16. |
Blue Hen Physical Therapy,Inc. |
| 17. |
Cape Prosthetics - Orthotics,Inc. |
| 18. |
CRI ES,Inc. |
| 19. |
Crowley Physical Therapy Clinic,Inc. |
| 20. |
Douglas Avery& Associates,Ltd. |
| 21. |
Eagle Rehab Corporation |
| 22. |
Eden Sports,Inc. |
| 23. |
Fine, Bryant& Wah,Inc. |
| 24. |
Freedom Management Services, LLC |
| 25. |
GH General-San Antonio, LLC |
| 26. |
GR General - Scottsdale, LLC |
| 27. |
Great Lakes Specialty Hospital - Hackley, LLC |
| 28. |
Great Lakes Specialty Hospital - Oak, LLC |
| 29. |
GRSH ES,Inc. |
| 30. |
Gulf Breeze Physical Therapy,Inc. |
| 31. |
HealthWorks ES,Inc. |
| 32. |
Hospital Holdings Corporation |
| 33. |
Indianapolis Physical Therapy and Sports Medicine,Inc. |
| 34. |
Integrity Physical Therapy,Inc. |
| 35. |
Intensiva Healthcare Corporation |
| 36. |
Intensiva Hospital of Greater St. Louis,Inc. |
| 37. |
Joyner Sportsmedicine Institute,Inc. |
| 38. |
Kentucky Rehabilitation Services,Inc. |
| 39. |
Kessler Institute for Rehabilitation,Inc. |
| 40. |
Kessler Orthotic& Prosthetic Services,Inc. |
| 41. |
Kessler Pediatric Therapy,Inc. |
| 42. |
Kessler Professional Services, LLC |
| 43. |
Kessler Rehab Centers,Inc. |
| 44. |
Kessler Rehabilitation Corporation |
| 45. |
Kessler Rehabilitation Services,Inc. |
| 46. |
Keystone Rehabilitation Systems of McMurray |
| 47. |
Keystone Rehabilitation Systems,Inc. |
| 48. |
Leesburg Sports,Inc. |
| 49. |
Madison Rehabilitation Center,Inc. |
| 50. |
MATRIX Healthcare Services, LLC |
| 51. |
MATRIX Rehabilitation,Inc. |
| 52. |
MATRIX Rehabilitation-Delaware,Inc. |
| 53. |
MATRIX Rehabilitation-Georgia,Inc. |
| 54. |
MATRIX Rehabilitation-Ohio,Inc. |
| 55. |
MATRIX Rehabilitation-South Carolina,Inc. |
| 56. |
MATRIX Rehabilitation-Texas,Inc. |
| 57. |
Metro Rehabilitation Services,Inc. |
| 58. |
Morris Area Rehabilitation Association,Inc. |
| 59. |
Northstar Health Services,Inc. |
| 60. |
NovaCare Occupational Health Services,Inc. |
| 61. |
NovaCare Outpatient Rehabilitation East,Inc. |
| 62. |
NovaCare Outpatient Rehabilitation,Inc. |
| 63. |
NovaCare Rehabilitation of Ohio,Inc. |
| 64. |
NSR ES,Inc. |
| 65. |
OHRH ES,Inc. |
| 66. |
OHRH Select,Inc. |
| 67. |
OSR Property Ventures, LLC |
| 68. |
P&O Services,Inc. |
| 69. |
Pacific Rehabilitation& Sports Medicine,Inc. |
| 70. |
PhysioKids,Inc. |
| 71. |
PhysioLink Corporation |
| 72. |
Physiotherapy Associates - Union Rehab, LLC |
| 73. |
Physiotherapy Associates Holdings,Inc. |
| 74. |
Physiotherapy Associates,Inc. |
| 75. |
Physiotherapy Corporation |
| 76. |
Physiotherapy-BMHI Holdings,Inc. |
| 77. |
PR Acquisition Corporation |
| 78. |
Pro Active Therapy of North Carolina,Inc. |
| 79. |
Pro Active Therapy of South Carolina,Inc. |
| 80. |
Pro Active Therapy,Inc. |
| 81. |
Professional Rehab Associates,Inc. |
| 82. |
Professional Therapeutic Services,Inc. |
| 83. |
Progressive Therapy Services,Inc. |
| 84. |
PTSMA,Inc. |
| 85. |
R.S. Network,Inc. |
| 86. |
RCI (Michigan),Inc. |
| 87. |
Regency Hospital Company of Macon, L.L.C. |
| 88. |
Regency Hospital Company of Meridian, L.L.C. |
| 89. |
Regency Hospital Company of South Carolina, L.L.C. |
| 90. |
Regency Hospital Company, L.L.C. |
| 91. |
Regency Hospital of Columbus, LLC |
| 92. |
Regency Hospital of Greenville, LLC |
| 93. |
Regency Hospital of Jackson, LLC |
| 94. |
Regency Hospital of Minneapolis, LLC |
| 95. |
Regency Hospital of Northwest Arkansas, LLC |
| 96. |
Regency Hospital of Northwest Indiana, LLC |
| 97. |
Regency Hospital of Rockford, LLC |
| 98. |
Regency Hospital of Southern Mississippi, LLC |
| 99. |
Regency Hospital of Toledo, LLC |
| 100. |
Regency Hospitals, LLC |
| 101. |
Regency Management Company,Inc. |
| 102. |
Rehab Associates, L.L.C. |
| 103. |
Rehab Colorado, LLC |
| 104. |
Rehab Missouri, LLC |
| 105. |
Rehab Provider Network - East I,Inc. |
| 106. |
Rehab Provider Network - Indiana,Inc. |
| 107. |
Rehab Provider Network - Pennsylvania,Inc. |
| 108. |
Rehab Provider Network of Colorado,Inc. |
| 109. |
Rehab Provider Network of South Carolina,Inc. |
| 110. |
Rehab Provider Network of Virginia,Inc. |
| 111. |
Rehab Provider Network-Ohio,Inc. |
| 112. |
Rehab Xcel, LLC |
| 113. |
RehabClinics (PTA),Inc. |
| 114. |
RehabClinics (SPT),Inc. |
| 115. |
RehabClinics,Inc. |
| 116. |
Rehabilitation Center of Washington, D.C.,Inc. |
| 117. |
Rehabilitation Consultants,Inc. |
| 118. |
Rehabilitation Institute of Denton, LLC |
| 119. |
RPN of NC,Inc. |
| 120. |
S.T.A.R.T.,Inc. |
| 121. |
Select Employment Services,Inc. |
| 122. |
Select Hospital Investors, L.P. |
| 123. |
Select Illinois Holdings,Inc. |
| 124. |
Select Kentuckiana,Inc. |
| 125. |
Select LifeCare Western Michigan, LLC |
| 126. |
Select Medical International (US),Inc. |
| 127. |
Select Medical of Kentucky,Inc. |
| 128. |
Select Medical of Maryland,Inc. |
| 129. |
Select Medical of New York,Inc. |
| 130. |
Select Medical Patient Safety and Quality Institute,
LLC |
| 131. |
Select Medical Property Ventures, LLC |
| 132. |
Select Medical Rehabilitation Clinics,Inc. |
| 133. |
Select Nevada Holdings,Inc. |
| 134. |
Select NovaCare - PBG,Inc. |
| 135. |
Select NovaCare - PIT,Inc. |
| 136. |
Select Physical Therapy Holdings,Inc. |
| 137. |
Select Physical Therapy Network Services,Inc. |
| 138. |
Select Physical Therapy of Albuquerque,Ltd. |
| 139. |
Select Physical Therapy of Blue Springs Limited Partnership |
| 140. |
Select Physical Therapy of Colorado Springs Limited
Partnership |
| 141. |
Select Physical Therapy of Connecticut Limited Partnership |
| 142. |
Select Physical Therapy of Denver,Ltd. |
| 143. |
Select Physical Therapy of Kendall,Ltd. |
| 144. |
Select Physical Therapy of St. Louis Limited Partnership |
| 145. |
Select Physical Therapy of West Denver Limited Partnership |
| 146. |
Select Physical Therapy Orthopedic Services,Inc. |
| 147. |
Select Physical Therapy Texas Limited Partnership |
| 148. |
Select Rehabilitation Hospital - Hershey,Inc. |
| 149. |
Select Specialty - Downriver, LLC |
| 150. |
Select Specialty Hospital - Ann Arbor,Inc. |
| 151. |
Select Specialty Hospital - Arizona,Inc. |
| 152. |
Select Specialty Hospital - Augusta,Inc. |
| 153. |
Select Specialty Hospital - Beech Grove,Inc. |
| 154. |
Select Specialty Hospital - Belhaven, LLC |
| 155. |
Select Specialty Hospital - Boardman,Inc. |
| 156. |
Select Specialty Hospital - Broward,Inc. |
| 157. |
Select Specialty Hospital - Charleston,Inc. |
| 158. |
Select Specialty Hospital - Cincinnati,Inc. |
| 159. |
Select Specialty Hospital - Colorado Springs,Inc. |
| 160. |
Select Specialty Hospital - Columbus,Inc. |
| 161. |
Select Specialty Hospital - Dallas,Inc. |
| 162. |
Select Specialty Hospital - Danville,Inc. |
| 163. |
Select Specialty Hospital - Daytona Beach,Inc. |
| 164. |
Select Specialty Hospital - Denver,Inc. |
| 165. |
Select Specialty Hospital - Des Moines,Inc. |
| 166. |
Select Specialty Hospital - Durham,Inc. |
| 167. |
Select Specialty Hospital - Erie,Inc. |
| 168. |
Select Specialty Hospital - Evansville,Inc. |
| 169. |
Select Specialty Hospital - Evansville, LLC |
| 170. |
Select Specialty Hospital - Flint,Inc. |
| 171. |
Select Specialty Hospital - Fort Myers,Inc. |
| 172. |
Select Specialty Hospital - Fort Smith,Inc. |
| 173. |
Select Specialty Hospital - Greensboro,Inc. |
| 174. |
Select Specialty Hospital - Gulf Coast,Inc. |
| 175. |
Select Specialty Hospital - Jackson,Inc. |
| 176. |
Select Specialty Hospital - Johnstown,Inc. |
| 177. |
Select Specialty Hospital - Kalamazoo,Inc. |
| 178. |
Select Specialty Hospital - Kansas City,Inc. |
| 179. |
Select Specialty Hospital - Laurel Highlands,Inc. |
| 180. |
Select Specialty Hospital - Lexington,Inc. |
| 181. |
Select Specialty Hospital - Lincoln,Inc. |
| 182. |
Select Specialty Hospital - Longview,Inc. |
| 183. |
Select Specialty Hospital - Macomb County,Inc. |
| 184. |
Select Specialty Hospital - Madison,Inc. |
| 185. |
Select Specialty Hospital - McKeesport,Inc. |
| 186. |
Select Specialty Hospital - Melbourne,Inc. |
| 187. |
Select Specialty Hospital - Memphis,Inc. |
| 188. |
Select Specialty Hospital - Miami Lakes,Inc. |
| 189. |
Select Specialty Hospital - Midland,Inc. |
| 190. |
Select Specialty Hospital - Milwaukee,Inc. |
| 191. |
Select Specialty Hospital - North Knoxville,Inc. |
| 192. |
Select Specialty Hospital - Northeast New Jersey,Inc. |
| 193. |
Select Specialty Hospital - Northeast Ohio,Inc. |
| 194. |
Select Specialty Hospital - Northern Kentucky, LLC |
| 195. |
Select Specialty Hospital - Oklahoma City,Inc. |
| 196. |
Select Specialty Hospital - Omaha,Inc. |
| 197. |
Select Specialty Hospital - Orlando,Inc. |
| 198. |
Select Specialty Hospital - Palm Beach,Inc. |
| 199. |
Select Specialty Hospital - Panama City,Inc. |
| 200. |
Select Specialty Hospital - Pensacola,Inc. |
| 201. |
Select Specialty Hospital - Phoenix,Inc. |
| 202. |
Select Specialty Hospital - Pittsburgh/UPMC,Inc. |
| 203. |
Select Specialty Hospital - Quad Cities,Inc. |
| 204. |
Select Specialty Hospital – Richmond,Inc. |
| 205. |
Select Specialty Hospital - Saginaw,Inc. |
| 206. |
Select Specialty Hospital - San Antonio,Inc. |
| 207. |
Select Specialty Hospital - Savannah,Inc. |
| 208. |
Select Specialty Hospital - Sioux Falls,Inc. |
| 209. |
Select Specialty Hospital – South Dallas,Inc. |
| 210. |
Select Specialty Hospital - Springfield,Inc. |
| 211. |
Select Specialty Hospital - Tallahassee,Inc. |
| 212. |
Select Specialty Hospital - The Villages,Inc. |
| 213. |
Select Specialty Hospital - TriCities,Inc. |
| 214. |
Select Specialty Hospital - Tulsa,Inc. |
| 215. |
Select Specialty Hospital - Tulsa/Midtown, LLC |
| 216. |
Select Specialty Hospital - Western Michigan,Inc. |
| 217. |
Select Specialty Hospital - Wichita,Inc. |
| 218. |
Select Specialty Hospital - Wilmington,Inc. |
| 219. |
Select Specialty Hospital - Winston-Salem,Inc. |
| 220. |
Select Specialty Hospital - Youngstown,Inc. |
| 221. |
Select Specialty Hospital - Zanesville,Inc. |
| 222. |
Select Specialty Hospitals,Inc. |
| 223. |
Select Subsidiaries,Inc. |
| 224. |
Select Synergos,Inc. |
| 225. |
Select Transport,Inc. |
| 226. |
Select Unit Management,Inc. |
| 227. |
SelectMark,Inc. |
| 228. |
SemperCare,Inc. |
| 229. |
SLMC Finance Corporation |
| 230. |
SMR Banyan Tree,Inc. |
| 231. |
Sports& Orthopedic Rehabilitation Services,Inc. |
| 232. |
Susquehanna Physical Therapy Associates,Inc. |
| 233. |
Swanson Orthotic& Prosthetic Center,Inc. |
| 234. |
Theraphysics Partners of Colorado,Inc. |
| 235. |
Theraphysics Partners of Texas,Inc. |
| 236. |
TheraWorks,Inc. |
| 237. |
VHSD ES,Inc. |
| 238. |
Victoria Healthcare,Inc. |
| 239. |
West Gables Rehabilitation Hospital, LLC |
| 240. |
Wisconsin Prosthetics& Orthotics,Inc. |
SCHEDULE III
Subsidiaries of Parent
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Actra Rehabilitation Associates, Inc. |
|
Wisconsin |
| Acuity General Partner, LLC |
|
Texas |
| Acuity Healthcare Holdings, Inc. |
|
Delaware |
| Acuity Healthcare Management, L.L.C. |
|
Louisiana |
| Acuity Healthcare of Ohio, L.L.C. |
|
Ohio |
| Acuity Healthcare, LP |
|
Texas |
| Acuity Holdings, LLC |
|
North Carolina |
| Acuity Hospital of New Jersey, L.L.C. |
|
Louisiana |
| Acuity Specialty Hospital - Ohio Valley, L.P. |
|
Ohio |
| Acuity Specialty Hospital, LLC |
|
New Jersey |
| Advantage Rehabilitation Clinics, Inc. |
|
Massachusetts |
| Alexandria Sports, Inc. |
|
New York |
| Allevant Solutions, LLC |
|
Delaware |
| American Transitional Hospitals, LLC |
|
Delaware |
| Archer Rehabilitation, LLC |
|
Delaware |
| Argosy Health, LLC |
|
Delaware |
| ASHN at Home Holdings, LLC |
|
Ohio |
| ASHN Holdings, LLC |
|
Delaware |
| Benchmark Acquisition Corp. |
|
Delaware |
| Benchmark Medical Management Company |
|
Delaware |
| Benchmark O & P Holdings, Inc. |
|
Delaware |
| Benchmark Orthotics & Prosthetics, Inc. |
|
Delaware |
| BHSM ES, Inc. |
|
Delaware |
| BHSM Rehabilitation, LLC |
|
Delaware |
| Big Apple Physical Therapy, P.C. |
|
New York |
| BIR JV, LLP |
|
Texas |
| BIR Pinnacle GP, LLC |
|
Texas |
| Blue Hen Physical Therapy, Inc. |
|
Delaware |
| California Rehab Institute Medical Group |
|
California |
| California Rehabilitation Foundation |
|
California |
| California Rehabilitation Institute, LLC |
|
Delaware |
| Cape Prosthetics - Orthotics, Inc. |
|
Missouri |
| Caritas Rehab Services, LLC |
|
Kentucky |
| Carrollton Physical Therapy Clinic, Inc. |
|
Texas |
| Central Iowa Physio, LLC |
|
Iowa |
| Champion Sports Medicine Birmingham, LLC |
|
Delaware |
| Cleveland Clinic Rehabilitation Hospitals, LLC |
|
Delaware |
| CMC Ozarks Rehabilitation, LLC |
|
Delaware |
| Coastal Virginia Rehabilitation, LLC |
|
Virginia |
| CRI ES, Inc. |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Crowley Physical Therapy Clinic, Inc. |
|
Louisiana |
| Dade Prosthetics & Orthotics, Inc. |
|
Florida |
| DG Physical Therapy, P.C. |
|
Massachusetts |
| Dignity Select Nevada, LLC |
|
Delaware |
| Douglas Avery & Associates, Ltd. |
|
Virginia |
| Duval Rehabilitation, LLC |
|
Delaware |
| Eagle Rehab Corporation |
|
Delaware |
| Eagle Rehab Corporation (WA) |
|
Washington |
| Eden Sports, Inc. |
|
New York |
| ES LTACH, LLC |
|
Georgia |
| ES Rehabilitation, LLC |
|
Georgia |
| ESOP Rehabilitation, LLC |
|
Georgia |
| Exokinetics, Inc. |
|
Delaware |
| FC Select, LLC |
|
Delaware |
| Fine, Bryant & Wah, Inc. |
|
Maryland |
| Frederick Orthopedic Rehabilitation, Inc. |
|
Maryland |
| Freedom Management Services, LLC |
|
Pennsylvania |
| GH General - San Antonio, LLC |
|
Texas |
| GH General, LLC |
|
Texas |
| GlobalRehab - Fort Worth, LP |
|
Texas |
| GlobalRehab, LP |
|
Texas |
| GlobalRehab-Scottsdale, LLC |
|
Arizona |
| GR General - Scottsdale, LLC |
|
Texas |
| Great Lakes Specialty Hospital - Hackley, LLC |
|
Delaware |
| Great Lakes Specialty Hospital - Oak, LLC |
|
Delaware |
| GRSH ES, Inc. |
|
Delaware |
| Gulf Breeze Physical Therapy, Inc. |
|
Florida |
| HealthWorks ES, Inc. |
|
Delaware |
| Hospital Holdings Corporation |
|
Delaware |
| Indiana Rehabilitation Services, LLC |
|
Delaware |
| Indianapolis Physical Therapy and Sports Medicine, Inc. |
|
Indiana |
| Integrity Physical Therapy, Inc. |
|
Delaware |
| Intensiva Healthcare Corporation |
|
Delaware |
| Intensiva Hospital of Greater St. Louis, Inc. |
|
Missouri |
| ISH Northern Virginia, LLC |
|
Delaware |
| Island Tree Physical Therapy, P.C. |
|
Rhode Island |
| Jeffersontown Physical Therapy, LLC |
|
Kentucky |
| Johnson Physical Therapy, Inc. |
|
Ohio |
| Joyner Sportsmedicine Institute, Inc. |
|
Pennsylvania |
| Kentucky Orthopedic Rehabilitation, LLC |
|
Delaware |
| Kentucky Rehabilitation Services, Inc. |
|
Kentucky |
| Kessler Assisted Living Corporation |
|
New Jersey |
| Kessler Hudson County Rehabilitation, LLC |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Kessler Institute for Rehabilitation, Inc. |
|
New Jersey |
| Kessler Orthotic & Prosthetic Services, Inc. |
|
Delaware |
| Kessler Pediatric Therapy, Inc. |
|
Delaware |
| Kessler Professional Services, LLC |
|
Delaware |
| Kessler Rehab Centers, Inc. |
|
Delaware |
| Kessler Rehabilitation Corporation |
|
Delaware |
| Kessler Rehabilitation Services, Inc. |
|
New Jersey |
| Keystone Rehabilitation Systems of McMurray |
|
Pennsylvania |
| Keystone Rehabilitation Systems, Inc. |
|
Pennsylvania |
| KORT Kentuckiana, LLC |
|
Delaware |
| KORT Rehabilitation at Home, LLC |
|
Delaware |
| Leesburg Sports, Inc. |
|
New York |
| LifeBridge Sports Medicine and Rehabilitation, LLC |
|
Maryland |
| Long-Term Acute Care Hospital of Northern Virginia, LLC |
|
Virginia |
| LTACH @ Riverside, LLC |
|
Virginia |
| LTACH Morgantown, LLC |
|
West Virginia |
| Lymphedema Associates of New Jersey, P.C. |
|
New Jersey |
| Madison Rehabilitation Center, Inc. |
|
Connecticut |
| MATRIX Healthcare Services, LLC |
|
Delaware |
| MATRIX Rehabilitation - Georgia, Inc. |
|
Delaware |
| MATRIX Rehabilitation, Inc. |
|
Delaware |
| MATRIX Rehabilitation-Delaware, Inc. |
|
Delaware |
| MATRIX Rehabilitation-Ohio, Inc. |
|
Delaware |
| MATRIX Rehabilitation-South Carolina, Inc. |
|
Delaware |
| MATRIX Rehabilitation-Texas, Inc. |
|
Delaware |
| Metro Rehabilitation Services, Inc. |
|
Michigan |
| Morgantown Physical Therapy Associates, Inc. |
|
West Virginia |
| Morris Area Rehabilitation Association, Inc. |
|
New Jersey |
| North Dallas Physical Therapy Associates, Inc. |
|
Texas |
| Northstar Health Services, Inc. |
|
Delaware |
| NovaCare Occupational Health Services, Inc. |
|
Delaware |
| NovaCare Outpatient Rehabilitation East, Inc. |
|
Delaware |
| NovaCare Outpatient Rehabilitation, Inc. |
|
Kansas |
| NovaCare Rehabilitation of Ohio, Inc. |
|
Ohio |
| NSR ES, Inc. |
|
Delaware |
| NSR Louisiana, LLC |
|
Louisiana |
| OHRH ES, Inc. |
|
Delaware |
| OHRH Select, Inc. |
|
Delaware |
| OHRH Subsidiaries, LLC |
|
Delaware |
| OHRH, LLC |
|
Ohio |
| OKC Rehabilitation, LLC |
|
Delaware |
| Osprey Rehabilitation, LLC |
|
Delaware |
| Osprey Urban Renewal, LLC |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| OSR Louisiana, LLC |
|
Delaware |
| OSR Property Ventures, LLC |
|
Delaware |
| P&O Services, Inc. |
|
Michigan |
| Pacific Rehabilitation & Sports Medicine, Inc. |
|
Delaware |
| Partners in Physical Therapy, LLC |
|
Kentucky |
| Penn State Hershey Rehabilitation, LLC |
|
Delaware |
| PHS Physical Therapy, LLC |
|
Delaware |
| PhysioKids, Inc. |
|
Delaware |
| PhysioLink Corporation |
|
Delaware |
| Physiotherapy Associates - Union Rehab, LLC |
|
Maryland |
| Physiotherapy Associates Holdings, Inc. |
|
Delaware |
| Physiotherapy Associates, Inc. |
|
Michigan |
| Physiotherapy Associates-NRH Rehab, L.L.C. |
|
Maryland |
| Physiotherapy Corporation |
|
Delaware |
| Physiotherapy-BMHI Holdings, Inc. |
|
Delaware |
| Pinnacle Health Select Rehabilitation, LLC |
|
Delaware |
| PR Acquisition Corporation |
|
California |
| Pro Active Therapy of North Carolina, Inc. |
|
North Carolina |
| Pro Active Therapy of South Carolina, Inc. |
|
South Carolina |
| Pro Active Therapy of Virginia, Inc. |
|
Virginia |
| Pro Active Therapy, Inc. |
|
North Carolina |
| Professional Rehab Associates, Inc. |
|
Pennsylvania |
| Professional Therapeutic Services, Inc. |
|
Ohio |
| Progressive Therapy Services, Inc. |
|
Ohio |
| PSHR Physical Therapy, LLC |
|
Delaware |
| PTSMA, Inc. |
|
Connecticut |
| R.S. Network, Inc. |
|
Illinois |
| RCI (Michigan), Inc. |
|
Delaware |
| RCI (WRS), LLC |
|
Delaware |
| Regency Hospital Company of Macon, L.L.C. |
|
Delaware |
| Regency Hospital Company of Meridian, L.L.C. |
|
Delaware |
| Regency Hospital Company of South Carolina, L.L.C. |
|
Delaware |
| Regency Hospital Company, L.L.C. |
|
Delaware |
| Regency Hospital of Albany, LLC |
|
Delaware |
| Regency Hospital of Atlanta, LLC |
|
Delaware |
| Regency Hospital of Columbus, LLC |
|
Delaware |
| Regency Hospital of Greenville, LLC |
|
Delaware |
| Regency Hospital of Jackson, LLC |
|
Delaware |
| Regency Hospital of Kansas City, LLC |
|
Delaware |
| Regency Hospital of Minneapolis, LLC |
|
Delaware |
| Regency Hospital of North Central Ohio, LLC |
|
Delaware |
| Regency Hospital of Northwest Arkansas, LLC |
|
Delaware |
| Regency Hospital of Northwest Indiana, LLC |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Regency Hospital of Rhode Island, LLC |
|
Delaware |
| Regency Hospital of Rockford, LLC |
|
Delaware |
| Regency Hospital of Southern Mississippi, LLC |
|
Delaware |
| Regency Hospital of Toledo, LLC |
|
Delaware |
| Regency Hospitals, LLC |
|
Delaware |
| Regency Management Company, Inc. |
|
Delaware |
| Rehab Associates of Jackson Hospital, LLC |
|
Alabama |
| Rehab Associates, LLC |
|
Alabama |
| Rehab Colorado, LLC |
|
Alabama |
| Rehab Hospital of Fort Wayne, LLC |
|
Delaware |
| Rehab Missouri, LLC |
|
Alabama |
| Rehab Provider Network - East I, Inc. |
|
Delaware |
| Rehab Provider Network - Indiana, Inc. |
|
Indiana |
| Rehab Provider Network - Pennsylvania, Inc. |
|
Pennsylvania |
| Rehab Provider Network of Colorado, Inc. |
|
Colorado |
| Rehab Provider Network of New Mexico, Inc. |
|
New Mexico |
| Rehab Provider Network of North Carolina, Inc. |
|
North Carolina |
| Rehab Provider Network of South Carolina, Inc. |
|
Delaware |
| Rehab Provider Network of Virginia, Inc. |
|
Delaware |
| Rehab Provider Network-Ohio, Inc. |
|
Ohio |
| Rehab Xcel, LLC |
|
Alabama |
| RehabClinics (PTA), Inc. |
|
Delaware |
| RehabClinics (SPT), Inc. |
|
Delaware |
| RehabClinics, Inc. |
|
Delaware |
| Rehabilitation Center of Washington, D.C., Inc. |
|
Delaware |
| Rehabilitation Consultants, Inc. |
|
Delaware |
| Rehabilitation Hospital of Vancouver, LLC |
|
Delaware |
| Rehabilitation Institute of Denton, LLC |
|
Delaware |
| RPN of NC, Inc. |
|
Delaware |
| RSH Property Ventures, LLC |
|
Delaware |
| Rush Specialty Hospital, LLC |
|
Delaware |
| Rush-Select Holdings, LLC |
|
Delaware |
| S.T.A.R.T., Inc. |
|
Massachusetts |
| Saco Bay Orthopaedic and Sports Physical Therapy, Inc. |
|
Maine |
| SCRI, LLC |
|
Delaware |
| Select at Home, LLC |
|
Delaware |
| Select Cal Physical Therapy, P.C. |
|
California |
| Select Cleveland Hospitals, LLC |
|
Delaware |
| Select CS Physical Therapy, P.C. |
|
California |
| Select Employment Services, Inc. |
|
Delaware |
| Select Hospital Investors, L.P. |
|
Delaware |
| Select Illinois Holdings, Inc. |
|
Delaware |
| Select Kentuckiana, Inc. |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Select LifeCare Western Michigan, LLC |
|
Delaware |
| Select Medical Charitable Foundation |
|
Delaware |
| Select Medical Corporation |
|
Delaware |
| Select Medical Holdings Corporation |
|
Delaware |
| Select Medical International (US), Inc. |
|
Delaware |
| Select Medical International Limited |
|
Cyprus |
| Select Medical of Kentucky, Inc. |
|
Delaware |
| Select Medical of Maryland, Inc. |
|
Delaware |
| Select Medical of New York, Inc. |
|
Delaware |
| Select Medical Patient Safety and Quality Institute, LLC |
|
Delaware |
| Select Medical Property Ventures, LLC |
|
Delaware |
| Select Medical Rehabilitation Clinics, Inc. |
|
Delaware |
| Select Nevada Holdings, Inc. |
|
Delaware |
| Select NovaCare - PBG, Inc. |
|
New York |
| Select NovaCare - PIT, Inc. |
|
Arizona |
| Select Physical Therapy Holdings, Inc. |
|
Delaware |
| Select Physical Therapy Network Services, Inc. |
|
Delaware |
| Select Physical Therapy of Albuquerque, Ltd. |
|
Alabama |
| Select Physical Therapy of Blue Springs Limited Partnership |
|
Alabama |
| Select Physical Therapy of Colorado Springs Limited Partnership |
|
Alabama |
| Select Physical Therapy of Connecticut Limited Partnership |
|
Alabama |
| Select Physical Therapy of Denver, Ltd. |
|
Alabama |
| Select Physical Therapy of Kendall, Ltd. |
|
Alabama |
| Select Physical Therapy of St. Louis Limited Partnership |
|
Alabama |
| Select Physical Therapy of West Denver Limited Partnership |
|
Alabama |
| Select Physical Therapy Orthopedic Services, Inc. |
|
Delaware |
| Select Physical Therapy Texas Limited Partnership |
|
Alabama |
| Select Rehabilitation Hospital - Hershey, Inc. |
|
Delaware |
| Select San Diego Physical Therapy, P.C. |
|
California |
| Select Software Ventures, LLC |
|
Delaware |
| Select Specialty - Downriver, LLC |
|
Delaware |
| Select Specialty Hospital - Akron, LLC |
|
Delaware |
| Select Specialty Hospital - Ann Arbor, Inc. |
|
Missouri |
| Select Specialty Hospital - Arizona, Inc. |
|
Delaware |
| Select Specialty Hospital - Augusta, Inc. |
|
Delaware |
| Select Specialty Hospital - Beech Grove, Inc. |
|
Missouri |
| Select Specialty Hospital - Belhaven, LLC |
|
Delaware |
| Select Specialty Hospital - Boardman, Inc. |
|
Delaware |
| Select Specialty Hospital - Brevard, Inc. |
|
Delaware |
| Select Specialty Hospital - Broward, Inc. |
|
Delaware |
| Select Specialty Hospital - Central Detroit, Inc. |
|
Delaware |
| Select Specialty Hospital - Central Pennsylvania, L.P. |
|
Delaware |
| Select Specialty Hospital - Charleston, Inc. |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Select Specialty Hospital - Cincinnati, Inc. |
|
Missouri |
| Select Specialty Hospital - Cleveland, LLC |
|
Delaware |
| Select Specialty Hospital - Colorado Springs, Inc. |
|
Delaware |
| Select Specialty Hospital - Columbia, Inc. |
|
Delaware |
| Select Specialty Hospital - Columbus, Inc. |
|
Delaware |
| Select Specialty Hospital - Dallas, Inc. |
|
Delaware |
| Select Specialty Hospital - Danville, Inc. |
|
Delaware |
| Select Specialty Hospital - Daytona Beach, Inc. |
|
Delaware |
| Select Specialty Hospital - Denver, Inc. |
|
Delaware |
| Select Specialty Hospital - Des Moines, Inc. |
|
Delaware |
| Select Specialty Hospital - Durham, Inc. |
|
Delaware |
| Select Specialty Hospital - Eastern Iowa, Inc. |
|
Delaware |
| Select Specialty Hospital - Erie, Inc. |
|
Delaware |
| Select Specialty Hospital - Evansville, Inc. |
|
Missouri |
| Select Specialty Hospital - Evansville, LLC |
|
Delaware |
| Select Specialty Hospital - Flint, Inc. |
|
Missouri |
| Select Specialty Hospital - Fort Myers, Inc. |
|
Delaware |
| Select Specialty Hospital - Fort Smith, Inc. |
|
Missouri |
| Select Specialty Hospital - Gainesville, LLC |
|
Delaware |
| Select Specialty Hospital - Greensboro, Inc. |
|
Delaware |
| Select Specialty Hospital - Gulf Coast, Inc. |
|
Mississippi |
| Select Specialty Hospital - Huntsville, Inc. |
|
Delaware |
| Select Specialty Hospital - Jackson, Inc. |
|
Delaware |
| Select Specialty Hospital - Jefferson County, Inc. |
|
Delaware |
| Select Specialty Hospital - Johnstown, Inc. |
|
Missouri |
| Select Specialty Hospital - Kalamazoo, Inc. |
|
Delaware |
| Select Specialty Hospital - Kansas City, Inc. |
|
Missouri |
| Select Specialty Hospital - Lake, Inc. |
|
Delaware |
| Select Specialty Hospital - Lansing, Inc. |
|
Delaware |
| Select Specialty Hospital - Laurel Highlands, Inc. |
|
Delaware |
| Select Specialty Hospital - Leon, Inc. |
|
Delaware |
| Select Specialty Hospital - Lexington, Inc. |
|
Delaware |
| Select Specialty Hospital - Lincoln, Inc. |
|
Delaware |
| Select Specialty Hospital - Little Rock, Inc. |
|
Delaware |
| Select Specialty Hospital - Longview, Inc. |
|
Delaware |
| Select Specialty Hospital - Macomb County, Inc. |
|
Missouri |
| Select Specialty Hospital - Madison, Inc. |
|
Delaware |
| Select Specialty Hospital - McKeesport, Inc. |
|
Delaware |
| Select Specialty Hospital - Melbourne, Inc. |
|
Delaware |
| Select Specialty Hospital - Memphis, Inc. |
|
Delaware |
| Select Specialty Hospital - Miami Lakes, Inc. |
|
Delaware |
| Select Specialty Hospital - Midland, Inc. |
|
Delaware |
| Select Specialty Hospital - Midtown Atlanta, LLC |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Select Specialty Hospital - Milwaukee, Inc. |
|
Delaware |
| Select Specialty Hospital - Nashville, LLC |
|
Delaware |
| Select Specialty Hospital - North Atlanta, Inc. |
|
Delaware |
| Select Specialty Hospital - North Knoxville, Inc. |
|
Missouri |
| Select Specialty Hospital - Northeast New Jersey, Inc. |
|
Delaware |
| Select Specialty Hospital - Northeast Ohio, Inc. |
|
Missouri |
| Select Specialty Hospital - Northern Kentucky, LLC |
|
Delaware |
| Select Specialty Hospital - Oklahoma City, Inc. |
|
Delaware |
| Select Specialty Hospital - Omaha, Inc. |
|
Missouri |
| Select Specialty Hospital - Orlando, Inc. |
|
Delaware |
| Select Specialty Hospital - Palm Beach, Inc. |
|
Delaware |
| Select Specialty Hospital - Panama City, Inc. |
|
Delaware |
| Select Specialty Hospital - Paramus, Inc. |
|
Delaware |
| Select Specialty Hospital - Pensacola, Inc. |
|
Delaware |
| Select Specialty Hospital - Phoenix, Inc. |
|
Delaware |
| Select Specialty Hospital - Pittsburgh/UPMC, Inc. |
|
Delaware |
| Select Specialty Hospital - Quad Cities, Inc. |
|
Delaware |
| Select Specialty Hospital - Richmond, Inc. |
|
Delaware |
| Select Specialty Hospital - Riverview, Inc. |
|
Delaware |
| Select Specialty Hospital - Saginaw, Inc. |
|
Delaware |
| Select Specialty Hospital - San Antonio, Inc. |
|
Delaware |
| Select Specialty Hospital - Sarasota, Inc. |
|
Delaware |
| Select Specialty Hospital - Savannah, Inc. |
|
Delaware |
| Select Specialty Hospital - Sioux Falls, Inc. |
|
Missouri |
| Select Specialty Hospital - South Dallas, Inc. |
|
Delaware |
| Select Specialty Hospital - Springfield, Inc. |
|
Delaware |
| Select Specialty Hospital - St. Lucie, Inc. |
|
Delaware |
| Select Specialty Hospital - Tallahassee, Inc. |
|
Delaware |
| Select Specialty Hospital - The Villages, Inc. |
|
Delaware |
| Select Specialty Hospital - TriCities, Inc. |
|
Delaware |
| Select Specialty Hospital - Tucson, LLC |
|
Delaware |
| Select Specialty Hospital - Tulsa, Inc. |
|
Delaware |
| Select Specialty Hospital - Tulsa/Midtown, LLC |
|
Delaware |
| Select Specialty Hospital - West Tennessee, LLC |
|
Delaware |
| Select Specialty Hospital - Western Michigan, Inc. |
|
Missouri |
| Select Specialty Hospital - Wichita, Inc. |
|
Missouri |
| Select Specialty Hospital - Wilmington, Inc. |
|
Missouri |
| Select Specialty Hospital - Winston-Salem, Inc. |
|
Delaware |
| Select Specialty Hospital - Youngstown, Inc. |
|
Missouri |
| Select Specialty Hospital - Zanesville, Inc. |
|
Delaware |
| Select Specialty Hospitals, Inc. |
|
Delaware |
| Select Subsidiaries, Inc. |
|
Pennsylvania |
| Select Synergos, Inc. |
|
Delaware |
| Name of Subsidiary |
|
Jurisdiction of Incorporation |
| Select Transport, Inc. |
|
Delaware |
| Select Tucson Holdings, LLC |
|
Delaware |
| Select Unit Management, Inc. |
|
Delaware |
| SelectMark, Inc. |
|
Delaware |
| SemperCare Hospital of Fort Myers, Inc. |
|
Delaware |
| SemperCare Hospital of Hartford, Inc. |
|
Delaware |
| SemperCare Hospital of Lakeland, Inc. |
|
Delaware |
| SemperCare Hospital of Mobile, Inc. |
|
Delaware |
| SemperCare, Inc. |
|
Delaware |
| SeniorCare Associates, LP |
|
Texas |
| SLMC Finance Corporation |
|
Delaware |
| SMCS Holdings, Inc. |
|
Delaware |
| SMCS Management, LLC |
|
Delaware |
| SMR Banyan Tree, Inc. |
|
New York |
| SMR Temple, LLC |
|
Delaware |
| SMR Tucson, LLC |
|
Delaware |
| SN Kentuckiana Rehab, LLC |
|
Delaware |
| Southwest Physical Therapy, Inc. |
|
New Mexico |
| Special Care Hospital, LLC |
|
Delaware |
| Sports & Orthopedic Rehabilitation Services, Inc. |
|
Florida |
| SSM Select Rehab St. Louis, LLC |
|
Delaware |
| Susquehanna Physical Therapy Associates, Inc. |
|
Pennsylvania |
| Swanson Orthotic & Prosthetic Center, Inc. |
|
Ohio |
| The Rehab Center |
|
Pennsylvania |
| Theraphysics Partners of Colorado, Inc. |
|
Delaware |
| Theraphysics Partners of Texas, Inc. |
|
Delaware |
| Therapy Associates of Martinsville, Inc. |
|
Virginia |
| Theraworks, Inc. |
|
Texas |
| TriHealth Rehabilitation Hospital, LLC |
|
Delaware |
| Trumbull P.T. Corp. |
|
Connecticut |
| U.S. Regional Occupational Health II of New Jersey, Inc. |
|
New Jersey |
| VHSD ES, Inc. |
|
Delaware |
| Vibra Hospital of San Diego, LLC |
|
Delaware |
| Victoria Healthcare, Inc. |
|
Florida |
| West Gables Rehabilitation Hospital, LLC |
|
Delaware |
| Wisconsin Prosthetics & Orthotics, Inc. |
|
Wisconsin |
| WWLTACH, LLC |
|
Delaware |
ANNEX A
Pricing Supplement
[ATTACHED]
ANNEX B
Restrictions on Offers and Sales Outside
the United States
In connection with offers
and sales of Securities outside the United States:
(a) Each
Initial Purchaser acknowledges that the Securities have not been registered under the Securities Act and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not
subject to, the registration requirements of the Securities Act.
(b) Each
Initial Purchaser, severally and not jointly, represents, warrants and agrees that:
(i) Such
Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities, (A) as part of their distribution
at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing
Date, only in accordance with Regulation S under the Securities Act or Rule 144A under the Securities Act or any other available
exemption from registration under the Securities Act.
(ii) None
of such Initial Purchaser or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any
directed selling efforts with respect to the Securities, and all such persons have complied and will comply with the offering restrictions
requirement of Regulation S under the Securities Act.
(iii) At
or prior to the confirmation of sale of any Securities sold in reliance on Regulation S under the Securities Act, such Initial Purchaser
will have sent to each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities
from it during the distribution compliance period a confirmation or notice to substantially the following effect:
The Securities covered hereby have not
been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or
sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time
or (ii) otherwise until 40 days after the later of the commencement of the offering of the Securities and the date of original issuance
of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from registration under
the Securities Act. Terms used above have the meanings given to them by Regulation S.
(iv) Such
Initial Purchaser has not and will not enter into any contractual arrangement with any distributor with respect to the distribution of
the Securities, except with its affiliates or with the prior written consent of the Company.
Terms used in paragraph (a) and this paragraph
(b) and not otherwise defined in this Agreement have the meanings given to them by Regulation S.
(c) Each
Initial Purchaser acknowledges that no action has been or will be taken by the Company or any Guarantor that would permit a public offering
of the Securities, or possession or distribution of any of the Time of Sale Memorandum, the Final Memorandum, any Additional Written
Communication or any other offering or publicity material relating to the Securities, in any country or jurisdiction where action for
that purpose is required.
