Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / flex-provisions-analysis-memo.docx
flex-provisions-analysis-memo.docx
Parties
HARKNESS LLP
Verimark Hospitality Group Inc
Greystone Federal Credit Corp
Meridian Strauss Advisory LLC
Wharton LLP
Dean LLP
Dates
May 30, 2022
May 27, 2022
May 10, 2022
February 14, 2020
July 21, 2022
June 6, 2022
June 30, 2022
July 21, 2029
January 21, 2023
January 21, 2024
Amounts
$700,000,000
$3,500,000
$341,000,000
$7,000,000
$625,000,000
$621,875,000
$3,125,000
$75,000,000
$693,000,000
$150,000
Obligations
The Adjusted Term SOFR rate used for interest calculations shall not be less than 0
Crescent Harbor must consult with VHG prior to exercising any flex provision
The consultation must be directed to Renata Haines (Chief Financial Officer) and Glenn Fischbach (Treasurer) as VHG's designated contacts for flex-related communications
Crescent Harbor must use commercially reasonable efforts to minimize the exercise of flex provisions
The MFN clause provides that if VHG incurs incremental term loans during the 18-month sunset period at an effective yield exceeding the initial Term Loan B yield by more than the applicable MFN threshold, the initial Term Loan B margin must be adjusted upward to eliminate the excess differential
If Crescent Harbor determines that flex exercise is reasonably necessary to achieve successful syndication, CHB is required to consult with VHG (Renata Haines and Glenn Fischbach) before exercising flex