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Contract analysis / borrowing-request-funding-notice.docx
borrowing-request-funding-notice.docx
High · 0
Medium · 1
Standard · 1
1. Borrowing Date: August 16, 2024.
1. Borrowing Date: August 16, 2024.
2. Principal Amount Requested: Twenty-Five Million Dollars ($25,000,000.00).
Standard
⚑ Commercial term
2. Principal Amount Requested: Twenty-Five Million Dollars ($25,000,000.00).
3. Type of Borrowing: Adjusted Term SOFR Loan.
3. Type of Borrowing: Adjusted Term SOFR Loan.
4. Interest Period: One (1) month.
4. Interest Period: One (1) month.
5. Applicable Rate: Adjusted Term SOFR plus 475 basis points (4.75%) per annum. Based on t
5. Applicable Rate: Adjusted Term SOFR plus 475 basis points (4.75%) per annum. Based on the 1-month Term SOFR rate of 5.34% as published by the CME Group Benchmark Administration Limited (or a successor administrator) as of August 16, 2024, plus the SOFR Adjustment of 0.10% (ten basis points), the Adjusted Term SOFR rate equals 5.44%. When combined with the Applicable Margin of 4.75% (four hundred seventy-five basis
6. Disbursement Instructions: The Borrower requests that the proceeds of the Bridge Loan b
6. Disbursement Instructions: The Borrower requests that the proceeds of the Bridge Loan be disbursed by wire transfer of immediately available funds in accordance with the following instructions: Account Name: Arbor Health Technologies Inc. Bank: Pinnacle Trust Bank, N.A. Account Number: XXXX-XXXX-8417 ABA Routing Number: 021-209-XXX Reference: Bridge Loan — August 2024 Funding
7. Use of Proceeds: The proceeds of the Bridge Loan shall be applied by the Borrower solel
Medium
⚑ Liability cap to check against exposure
7. Use of Proceeds: The proceeds of the Bridge Loan shall be applied by the Borrower solely for the following purposes, each of which constitutes a permitted use of proceeds under Section 8.12 (Use of Proceeds) of the Loan Agreement: (i) working capital and general corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business; (ii) payment of integration costs and transition expenses rela