Contract analysis

Section 7.01(b)(iii) of the Mezzanine Credit Agreement requires the delivery of landlord consents or estoppel certificates for any leased premises of Crestline Packaging Solutions LLC or Crestline Coatings Inc. at which Collateral is located or from which the Borrower or any Grantor conducts its business operations. We understand that the Dayton Facility at 4510 Harshman Road is the principal place of business of Cre

Section 7.01(b)(iv) of the Mezzanine Credit Agreement requires the delivery of updated certificates of insurance for Crestline Packaging Solutions LLC and Crestline Coatings Inc. The certificates must evidence the following: (a) That Ironwood Capital Finance LLC is named as an additional insured under all applicable liability insurance policies (including commercial general liability, umbrella/excess liability, and a

1. Mezzanine Credit Agreement dated as of April 22, 2021;

2. Mezzanine Promissory Note in the original principal amount of $20,000,000, dated April 22, 2021;

3. Security Agreement (Second Lien) dated as of April 22, 2021;

4. Intercreditor Agreement dated as of April 22, 2021, among Pinnacle Commercial Bank, N.A., Ironwood Capital Finance LLC, and Crestline Packaging Solutions LLC;

5. Pledge Agreement dated as of April 22, 2021, pledging 100% of the membership interests in Crestline Coatings Inc.;

6. Warrant Agreement dated as of April 22, 2021, granting Ironwood the right to purchase equity representing 2.5% of the fully diluted equity of Crestline Packaging Solutions LLC at an exercise price of $1.00 per unit;

7. Second-Lien Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing;

8. Borrower's Counsel Legal Opinion dated April 22, 2021 (delivered by Calderwood & Harkness LLP);

9. Officer's Certificate of Crestline Packaging Solutions LLC dated April 22, 2021;

10. Consent letter from Pinnacle Commercial Bank, N.A. dated March 15, 2021;

11. UCC-1 financing statements (filed copies, when available);

12. Recorded Second-Lien Mortgage (recorded copy, when available); and

13. All ancillary certificates, resolutions, organizational documents, good standing certificates, and other documents executed or delivered in connection with the transaction. We anticipate distributing the closing binders within ten (10) business days following the completion of all post-closing deliverables and receipt of recorded and filed copies of the applicable instruments. Notification to Lender's Counsel and