1
[XXXXX MANAGEMENT LLC LETTERHEAD]
VIA FACSIMILE - 000-000-0000
EXHIBIT 99.2
June 29, 2001
Xx. Xxxxxxx Xxxxx Xxxxxx
President and CEO
Assisted Living Concepts, Inc.
00000 XX Xxxxx Xxxxxx Xxxxx, Xxxxxxxx X
Xxxxxxxx, XX 00000-0000
Dear Xx. Xxxxxx:
Reference is made to the Confidentiality Agreement and Agreement to
Restrict Trading of Securities made as of May 14, 2001 (the "Agreement") by and
between Assisted Living Concepts, Inc. (the "Company") and Woodstead Associates
L.P. ("Holder"), an affiliate of Xxxxx Management LLC. Any capitalized term
used hereto and not otherwise defined herein shall have the meaning ascribed to
such term in the Agreement.
Section 5 of the Agreement provides in relevant part as follows:
"This Agreement shall terminate and the Company shall disclose to the public
generally such of the Confidential Information furnished to Holder as is
necessary to permit Holder and its Accounts to offer and sell (without
contravening applicable law) any securities of the Company ... on June 30,
2001."
Company recently requested that we execute an Amendment to the Agreement the
effect of which would extend the termination date to July 20, 2001. At this
time, Xxxxxx is not prepared to execute such an amendment and hereby demands
that the Company comply with its obligations set forth in Section 5 of the
Agreement and disclose to the public the Material Information no later than
June 30, 2001. Holder desires to sell securities of the Company commencing
Monday of next week and accordingly will be damaged if the Company fails to
so comply with its obligations. In such case, Company reserves all of its
rights and remedies under the Agreement and at law.
Please call me (000-000-0000) or Xxxx Xxxxxx (212-888-8252) should you have any
questions or wish further to discuss this matter.
Sincerely,
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
Senior Vice President and General Counsel
cc: Xxxxxx & Xxxxxxx Milbank Tweed Hadley & XxXxxx LLP
000 X. Xxxxx Xxxxxx, Xxxxx 0000 000 Xxxxx Xxxxxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxx, XX 00000 Xxx Xxxxxxx, XX 00000
Attn: Xxxxxx X. Xxxxxx Attn: Xxxxx X. Xxxxxx
Fax: 000-000-0000 Fax: 000-000-0000
Xxxx Xxxxxx - Xxxxx Management LLC
