Contract analysis
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Contract analysis / funds-flow-memorandum.xlsx
funds-flow-memorandum.xlsx
High · 0
Medium · 0
Standard · 2
1. Payoff of existing Harborview ABL facility | $112,450,000 | Per Payoff Letter dated May
1. Payoff of existing Harborview ABL facility | $112,450,000 | Per Payoff Letter dated May 17, 2023; existing facility size $175M
2. Closing Costs, Fees & Expenses: | $3,175,000 | Subtotal of items 2a–2h below
Standard
⚑ Commercial term
2. Closing Costs, Fees & Expenses: | $3,175,000 | Subtotal of items 2a–2h below 2a. Upfront fee — Crescent Harbor Bank, N.A. | $675,000 | 50 bps × $135M commitment 2b. Upfront fee — Northgate Capital Bank | $450,000 | 50 bps × $90M commitment 2c. Upfront fee — Bridgevale Financial Corporation | $375,000 | 50 bps × $75M commitment 2d. Administrative Agent fee (Year 1) — CHB | $150,000 | $150,000/yr payable to CHB 2e.
3. Working capital to CRH operating account | $34,375,000 | Deposited at Meridian Trust Co
Standard
⚑ Commercial term
3. Working capital to CRH operating account | $34,375,000 | Deposited at Meridian Trust Company, N.A. Total Uses | $150,000,000 | $112,450,000 + $3,175,000 + $34,375,000 = $150,000,000 RECONCILIATION Total Sources minus Total Uses | $0 | Sources ($150,000,000) − Uses ($150,000,000) = $0 — Balanced ✓ POST-FUNDING POSITION Aggregate Revolving Commitments | $300,000,000 Less: Outstanding Revolving Loans | ($150,000,000)