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Extract to table

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

Extract to table / pcnb-covenant-analysis-memo.docx
pcnb-covenant-analysis-memo.docx · 1013-00004

Parties

Harkness LLP
Genome Dx Therapeutics Inc
Sable LLP
GDT Corp

Dates

May 22, 2024
September 22, 2023
December 31, 2024
August 15, 2021
March 31, 2025
September 22, 2026
March 29, 2024
April 5, 2024
May 17, 2024
June 3, 2024

Amounts

$9,200,000
$15,000,000
$5,800,000
$6,200,000
$6.2
$34
$10,000,000
$5,000,000
$187,000,000

Obligations

" The critical elements of this covenant are as follows: Obligation: GDT is required to "obtain" a "final Medicare coverage determination
" Qualifying Product: The coverage determination must be for "at least one proprietary laboratory-developed test developed by Borrower
The covenant is measured as of this date, meaning GDT must have "obtain[ed]" the qualifying coverage determination on or before this date
Under California law, which governs the Credit Agreement pursuant to its choice-of-law provision, a contract must be interpreted to give effect to the mutual intention of the parties at the time of contracting, insofar as that intention can be ascertained and is lawful
14 does not explicitly state that GDT must obtain a "new" or "additional" Medicare coverage determination
The temporal framing of the covenant language — "on or before December 31, 2024" — reinforces the forward-looking nature of the obligation: it sets a deadline by which a future event must occur