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 / closing-checklist.xlsx

closing-checklist.xlsx

High · 0 Medium · 7 Standard · 3

I-1 | Certificate of Formation — Hudson Yards West Mortgage LLC (Delaware) | MTDC / C&H |

I-2 | Limited Liability Company Agreement — Hudson Yards West Mortgage LLC | MTDC / C&H |

I-3 | Certificate of Formation — Hudson Yards West Mezzanine LLC (Delaware) | MTDC / C&H |

I-4 | Limited Liability Company Agreement — Hudson Yards West Mezzanine LLC | MTDC / C&H |

I-5 | Certificate of Good Standing — Hudson Yards West Mortgage LLC (Delaware SOS) | MTDC Medium

⚑ Notice / time limit to track

I-6 | Certificate of Good Standing — Hudson Yards West Mezzanine LLC (Delaware SOS) | MTDC Medium

⚑ Notice / time limit to track

I-7 | Certificate of Authority to do business — HYW Mortgage LLC (New York) | MTDC / C&H |

I-8 | Certificate of Authority to do business — HYW Mezzanine LLC (New York) | MTDC / C&H

I-9 | Organizational documents of MTDC — Enabling legislation, charter, bylaws | MTDC | MT

I-10 | Resolution of MTDC Board of Directors authorizing the Transaction | MTDC | MTDC (Ma

I-11 | Incumbency Certificate of MTDC officers | MTDC | MTDC (Lydia Okafor) | Clearfield &

I-12 | Certificate of Good Standing — MTDC (Illinois SOS) | MTDC | Illinois Secretary of S Medium

⚑ Notice / time limit to track

I-13 | Organizational chart showing all entities in borrower structure | MTDC / C&H | Cald

I-14 | Manager's Certificate — HYW Mortgage LLC (authorization, incumbency, no litigation)

I-15 | Manager's Certificate — HYW Mezzanine LLC (authorization, incumbency, no litigation

I-16 | Non-consolidation opinion (Mortgage Borrower) | C&H | Calderwood & Harkness LLP (Sy

I-17 | Non-consolidation opinion (Mezzanine Borrower) | C&H | Calderwood & Harkness LLP (S

I-18 | Independent Director Designation — HYW Mortgage LLC | MTDC / C&H | Calderwood & Har

I-19 | Independent Director Designation — HYW Mezzanine LLC | MTDC / C&H | Calderwood & Ha

I-20 | Certificate of Formation — HYW Mortgage LLC (certified copy from Delaware SOS) | MT

II-1 | Senior Mortgage Loan Agreement ($475,000,000) | Ironclad / Clearfield | Clearfield

II-2 | Senior Mortgage Note ($475,000,000) | Ironclad / Clearfield | Clearfield & Associat

II-3 | Consolidated Mortgage, Assignment of Leases and Rents, and Security Agreement | Iro Medium

⚑ Assignment / subcontracting

II-4 | Assignment of Leases and Rents (separate instrument) | Ironclad / Clearfield | Clea Medium

⚑ Assignment / subcontracting

II-5 | Senior Guaranty Agreement (Payment and Completion) | Ironclad / Clearfield | Clearf

II-6 | Environmental Indemnity Agreement (Senior) | Ironclad / Clearfield | Clearfield & A

II-7 | Cash Management Agreement / Lockbox Agreement | Ironclad / Clearfield | Clearfield

II-8 | Reserve Agreement (Tax, Insurance, Replacement, Interest, Carry) | Ironclad / Clear

II-9 | Building Loan Agreement | Ironclad / Clearfield | Clearfield & Associates LLP | Cal

II-10 | Disbursement Agreement / Draw Schedule | Ironclad / Clearfield | Clearfield & Asso

II-11 | Deposit Account Control Agreements (DACAs) | Ironclad | Ironclad National Bank, N.

II-12 | Pledge and Security Agreement — Mortgage Borrower (personal property) | Ironclad /

II-13 | UCC-1 Financing Statements (Mortgage Borrower as Debtor — filed NY SOS and NYC Reg

II-14 | Subordination, Non-Disturbance, and Attornment Agreement (SNDA) — Ground Lease | I

II-15 | Leasehold Mortgagee Recognition Agreement (NYCEDC) | NYCEDC / Ironclad | Clearfiel

II-16 | Senior Loan Fee Letter (Origination Fee: $4,750,000 — 1.00%) | Ironclad | Ironclad Standard

⚑ Commercial term

II-17 | Extension Conditions Letter | Ironclad / Clearfield | Clearfield & Associates LLP

II-18 | Financial Covenants Schedule (DSCR, LTV, Debt Yield) | Ironclad / Clearfield | Cle

II-19 | Pre-Closing Borrower Certificate (Bring-Down) | C&H | Calderwood & Harkness LLP |

II-20 | Closing Certificate and Funds Flow Memorandum (Senior) | Ironclad / C&H | Calderwo

II-21 | Completion Guaranty Agreement | Ironclad / Clearfield | Clearfield & Associates LL

II-22 | Interest Rate Cap Agreement / Hedge Documentation | Ironclad / MTDC | Ironclad Nat Standard

⚑ Commercial term

III-1 | Mezzanine Loan Agreement ($200,000,000) | Granite Peak / VRB | Voss Richter & Bain

III-2 | Mezzanine Promissory Note ($200,000,000) | Granite Peak / VRB | Voss Richter & Bai

III-3 | Mezzanine Pledge and Security Agreement (pledge of membership interests in HYW Mor

III-4 | UCC-1 Financing Statement — Mezzanine (HYW Mezzanine LLC as Debtor, Delaware SOS)

III-5 | Mezzanine Guaranty Agreement (Payment and Completion) | Granite Peak / VRB | Voss

III-6 | Environmental Indemnity Agreement (Mezzanine) | Granite Peak / VRB | Voss Richter

III-7 | Mezzanine Loan Fee Letter (Origination Fee: $3,000,000 — 1.50%) | Granite Peak | G Standard

⚑ Commercial term

III-8 | Mezzanine Cash Management Agreement | Granite Peak / VRB | Voss Richter & Baines L

III-9 | Mezzanine Reserve Agreement | Granite Peak / VRB | Voss Richter & Baines LLP | Cal

III-10 | Mezzanine Completion Guaranty Agreement | Granite Peak / VRB | Voss Richter & Bai

III-11 | Pre-Closing Borrower Certificate — Mezzanine (Bring-Down) | C&H | Calderwood & Ha

III-12 | Closing Certificate and Funds Flow Memorandum (Mezzanine) | Granite Peak / C&H |

IV-1 | Intercreditor Agreement (Senior / Mezzanine) | Ironclad / Granite Peak | Clearfield

IV-2 | Co-Lender Agreement (Senior Syndicate) | Ironclad | Clearfield & Associates LLP | C

IV-3 | Syndicate Allotment / Assignment Schedule (Senior) | Ironclad | Ironclad National B Medium

⚑ Assignment / subcontracting

IV-4 | Senior Lender Recognition of Mezzanine Lender's Rights | Ironclad / Clearfield | Cl

IV-5 | Mezzanine Lender Subordination Acknowledgment | Granite Peak / VRB | Voss Richter &

IV-6 | Assignment and Assumption Agreements (Senior Syndicate Members) | Ironclad / Clearf Medium

⚑ Assignment / subcontracting