Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
First Amendment to Amended and Restated Credit Agreement
As previously reported in our Current Report on Form 8-K filed on January 25, 2022, we, through American Healthcare REIT Holdings, LP, as borrower, and certain of our subsidiaries, or the subsidiary guarantors, and our company, collectively as guarantors, entered into an agreement, or the 2022 Amended and Restated Credit Agreement, with Bank of America, N.A., or Bank of America, and the lenders named thereto, to obtain a credit facility with an aggregate maximum principal amount up to $1,050,000,000, or the 2022 Credit Facility.
On March 1, 2023, we entered into an amendment to the 2022 Amended and Restated Credit Agreement, or the First Amendment, with Bank of America, as administrative agent, lender and letters of credit issuer; KeyBank, National Association and Citizens Bank, National Association, as lenders and letters of credit issuers; and the lenders named thereto. We are not affiliated with Bank of America, KeyBank, National Association, Citizens Bank, National Association, or any of the lenders named thereto. The First Amendment amended certain financial covenants required to be met under Section 6.12 of the 2022 Amended and Restated Credit Agreement, including the Consolidated Leverage Ratio, Consolidated Fixed Charge Coverage Ratio and the Consolidated Unencumbered Interest Coverage Ratio, as such terms are defined in the 2022 Amended and Restated Credit Agreement, for a limited period of time.
This description of the First Amendment is qualified in its entirety by the agreement attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Except as modified by the terms of the First Amendment, the material terms of the 2022 Amended and Restated Credit Agreement remain in full force and effect.