Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / cim-review-and-comments.docx
cim-review-and-comments.docx
Parties
HARKNESS LLP
Verimark Hospitality Group Inc
Meridian Strauss Advisory LLC
Wharton LLP
Greystone Federal Credit Corp
General Corp
Verimark Resort Properties LLC
VHG Management Services Inc
Dates
June 1, 2022
May 29, 2022
May 27, 2022
May 16, 2022
June 6, 2022
December 31, 2021
March 15, 2022
February 14, 2020
July 21, 2029
July 21, 2022
Amounts
$700,000,000
$625,000,000
$627,916,667
$621,875,000
$3,125,000
$6,250,000
$1,562,500
$2,916,667
$75,000,000
$3,500,000
Obligations
" While this spread is correctly stated and is consistent with the Commitment Letter, C&H has identified two material omissions in this section that must be corrected: First, the Draft CIM omits the SOFR floor of 0
50%, meaning that for purposes of calculating the applicable interest rate, the Term SOFR rate shall be deemed to be not less than 0
Its omission from the CIM is an error that must be corrected
This error must be corrected throughout the CIM
The current description states only that "incremental term loans shall be subject to customary MFN protection
If VHG incurs incremental term loans (including incremental equivalent debt) with an effective yield exceeding the effective yield on the initial TLB by more than 50 basis points, the applicable margin on the initial TLB shall be automatically increased to a level that is within 50 basis points of the effective yield on such incremental term loans