Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / defined-terms-covenant-build-memo.docx
defined-terms-covenant-build-memo.docx
Parties
HARKNESS LLP
Verimark Hospitality Group Inc
Partridge LLP
Consolidated Net Inc
Borrower Verimark Hospitality Group Inc
Wharton LLP
Greystone Federal Credit Corp
VHG Management Services Inc
Dates
June 3, 2022
May 16, 2022
May 20, 2022
May 26, 2022
December 31, 2021
February 14, 2020
May 23, 2022
January 21, 2024
May 24, 2022
July 21, 2022
Amounts
$700,000,000
$140,000,000
$3.1
$1.42
$318
$341
$625,000,000
$621,875,000
$3,500,000
$75,000,000
Obligations
WGP has countered by seeking to include a cap on the aggregate amount of non-recurring exclusions, as well as a requirement that any item characterized as "non-recurring" must not have been incurred in more than two of the last four fiscal quarters
This addback is subject to a standard "cash return" clawback provision, which provides that if any non-cash charge added back to Adjusted EBITDA in a prior period represents an accrual of, or reserve for, a cash expenditure that is expected to be made in a future period, such cash expenditure shall be deducted from Adjusted EBITDA in the period in which it is paid
• If aggregate RCF exposure exceeds $140,000,000, the leverage covenant becomes operative and VHG must demonstrate pro forma compliance with the 4