Sunrise Senior Living Enters Into 30 Day Standstill For Two Communities
8 April 2009
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Sunrise Senior Living announced in an 8-K filing earlier this week that it had entered into standstill/amended agreements with some of its lenders extending the term of previous agreements for its Hannover and München communities. The amendments expire on April 30, 2009 and shall automatically terminate upon the occurrence of an event of default, as defined in the respective agreements. As previously reported, Sunrise expects to have enough cash to operate its businesses until April 30, 2009 based upon restructurings and the sale of its Greystone interests.
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