FR EA

Extract to table

Pull the structured facts out of a document: parties, dates, amounts, obligations.

Extract to table / credit-agreement-amendment-analysis.docx
credit-agreement-amendment-analysis.docx · 1012-00002

Parties

Harkness LLP
Stonefield Logistics Group Inc
Cole LLP
Thornbury McCaffrey LLP
Meridian Veltrian Partners LLC
Tidewater Lending Corp
Belvedere Credit Opportunities Fund LP
Hargrove Advisory Group LLC

Dates

April 20, 2023
December 15, 2017
June 15, 2025
December 15, 2024
March 10, 2023
December 19, 2028
December 19, 2027

Amounts

$310.0
$25.0
$285.0
$50.0
$42.0
$3.5
$4.5
$140.0
$8.1
$335.0

Obligations

's (the "Company") funded indebtedness in order to identify the consent thresholds and procedural requirements the Company must satisfy to effectuate the contemplated consensual out-of-court restructuring
Separately, because certain of the proposed amendments implicate "sacred rights" provisions — most significantly, the extension of maturity — each affected Lender whose maturity is being extended must individually consent
However, the exit consent supplemental indenture must be carefully drafted to avoid impairment of the "right to receive payment" under Section 316(b) of the TIA and applicable case law
Because each TLB Lender must individually consent to the extension of its loan's maturity, the Company cannot rely on a majority vote to override a dissenting minority
Non-consenting TLB Lenders would retain their existing maturity of December 15, 2024, creating a bifurcated maturity structure that the Company must address through alternative mechanics, as discussed in Section III
Each individual TLB Lender whose loan maturity is being extended must affirmatively consent to the extension