Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / credit-agreement-third-markup-comment-letter.docx
credit-agreement-third-markup-comment-letter.docx
Parties
HARKNESS LLP
Whitfield LLP
Greenfield Agricultural Partners LLC
Greenfield Holdings Corp
Calloway-Foss Investments LP
Associates LLC
Pearce LLP
Greenfield Grain Storage LLC
Dates
November 1, 2022
October 28, 2022
October 21, 2022
December 31, 2021
June 30, 2022
September 9, 2022
August 22, 2022
September 19, 2022
October 17, 2022
November 7, 2022
Amounts
$80,000,000
$125
$145
$10,000,000
$1,000,000
$347.2
$289.6
$2,500,000
$5,000,000
$500,000
Obligations
This equity cure mechanism is subject to the following customary ABL limitations: (a) no more than two (2) equity cures may be exercised in any trailing twelve-month period; (b) no more than four (4) equity cures may be exercised over the term of the Facility; (c) the amount of any equity cure contribution shall be limited to the minimum amount necessary to achieve compliance with the minimum FCCR of 1
over-curing is not permitted); and (d) the equity cure contribution must be in the form of a cash equity contribution and not a loan, and must be made without any condition, restriction, or obligation of repayment that would impair its treatment as equity for purposes of the FCCR calculation
the Borrower must maintain Excess Availability of at least $5,000,000 at each moment throughout the term of the Facility
the Lindstrom Family Trust must hold at least 51% of both the economic interests and the voting interests in Holdings
(b) The amount of any increase must be commercially reasonable and consistent with the Agent's customary practices for similarly situated borrowers in the agricultural ABL market
During such five-business-day period, the Borrower shall have the opportunity to discuss the proposed increase with the Agent and to provide information or take actions that may address the Agent's concerns