Contract analysis
Clause-by-clause risk read on any document of the firm. Pick a contract, or open any document from a matter.
Contract analysis / board-presentation-termination-recommendation.pptx
board-presentation-termination-recommendation.pptx
High · 0
Medium · 0
Standard · 1
1. Board Resolution: Authorize VHG to terminate the PAC refinancing transaction
1. Board Resolution: Authorize VHG to terminate the PAC refinancing transaction
2. Termination Notice: Calderwood & Harkness to deliver formal termination notice to PAC (
2. Termination Notice: Calderwood & Harkness to deliver formal termination notice to PAC (cc: WBD, Meridian Title)
3. Deposit Negotiation: C&H to negotiate deposit recovery — target: retain rate lock depos
3. Deposit Negotiation: C&H to negotiate deposit recovery — target: retain rate lock deposit ($800,000); accept forfeiture of good faith deposit ($1,600,000)
4. Instruct Meridian Title & Escrow, Inc. to hold deposits pending settlement agreement ex
4. Instruct Meridian Title & Escrow, Inc. to hold deposits pending settlement agreement execution
5. Engage Derek Huang / Capital Markets to evaluate alternative refinancing strategies and
5. Engage Derek Huang / Capital Markets to evaluate alternative refinancing strategies and begin lender outreach
6. Consider approaching Tidewater National Bank regarding potential loan modification or m
6. Consider approaching Tidewater National Bank regarding potential loan modification or maturity extension as a backstop
7. Monitor market conditions for timing of new refinancing effort
7. Monitor market conditions for timing of new refinancing effort
8. Calderwood & Harkness to prepare matter closing memorandum and archive transaction file
Standard
⚑ Commercial term
8. Calderwood & Harkness to prepare matter closing memorandum and archive transaction files [slide 17] Appendix A — Financial Comparison Summary Original Loan: $160,000,000 | Repriced Loan: $139,000,000 | Difference: ($21,000,000) Original Rate: 5.35% | Repriced Rate: 6.90% | Difference: +155 bps Original I/O Debt Service: $8,560,000/yr | Repriced: $9,591,000/yr | Difference: +$1,031,000/yr Original DSCR: 2.15x | Rep