Extract to table

Minimum Interest Coverage Ratio VMS is required to maintain a Minimum Interest Coverage Ratio, defined as the ratio of Consolidated EBITDA to Consolidated Cash Interest Expense, tested on a quarterly basis

Unlike the leverage and interest coverage covenants, which are tested quarterly, the minimum liquidity covenant is a maintenance covenant that must be satisfied at all times

This is a standard intercreditor protection, but the documentation must be reviewed carefully given Pinnacle's dual-agent role

The documentation must include appropriate conflict-of-interest provisions and acknowledgments

The Change of Control definition must be carefully drafted to accommodate Ridgecrest's ownership structure through RAH while providing appropriate protection to the lenders

While modest in absolute terms, this growth must be achieved and sustained during a period when the automotive industry may face cyclical headwinds