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BRIEF-Quality Care says delivered notice of default under master lease relating to nonpayment of rent
July 10, 2017 / 8:47 PM / 2 months ago

BRIEF-Quality Care says delivered notice of default under master lease relating to nonpayment of rent

July 10 (Reuters) - Quality Care Properties Inc

* Quality Care Properties - Got about $8.2 million from HCR III Healthcare rather than roughly $39.5 million in rent required under master lease, security agreement

* Quality Care Properties - On July 7, 2017, QCP delivered a notice of default under master lease relating to nonpayment of rent due and other matters

* Quality Care Properties Inc - notice of default demands payment of all current and past due rent, totaling approximately $79.6 million

* Master lease and security agreement is dated as of April 7, 2011 - SEC filing

* Quality Care Properties - If rent is not paid by July 14, to constitute event of default requiring immediate payment of additional about $265 million of obligations Source: (bit.ly/2ubbubp) Further company coverage:

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