Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / letter-borrower-comments-mezzanine-credit-agreement.docx
letter-borrower-comments-mezzanine-credit-agreement.docx
Parties
HARKNESS LLP
Moss LLP
Stonefield Logistics Group Inc
Debt Inc
Saylor LLP
Renshaw Pratt LLP
Greystone Commercial Lending Corp
Dates
August 21, 2023
August 4, 2023
April 7, 2022
June 30, 2023
July 17, 2023
December 29, 2023
September 29, 2023
June 30, 2024
September 30, 2024
December 31, 2022
Amounts
$120,000,000
$108,600,000
$98,400,000
$687,000,000
$25,000,000
$15,000,000
$10,000,000
$407,000,000
$275,000,000
$12,000,000
Obligations
The definition in the Mezzanine Credit Agreement must support this calculation methodology and produce consistent results when applied to the same underlying financial data
The Draft Agreement states that interest shall be calculated on an Actual/360 day count basis
(iii) The Draft Agreement should expressly state that PIK interest, once capitalized, shall bear interest at the same rate as the original principal (i
(iv) The amount of any equity cure contribution shall be added to Adjusted EBITDA for purposes of recalculating the applicable financial covenant as of the end of the relevant fiscal quarter, and such contribution shall be deemed to have been received on the last day of such fiscal quarter
(v) No equity cure contribution shall reduce the amount of indebtedness or be applied to reduce principal outstanding for purposes of the leverage calculation; rather, the cure contribution shall operate solely as an increase to EBITDA for the relevant period
(vi) There shall be no requirement that equity cure contributions be applied to prepay the Mezzanine Facility