Extract to table

The issues are further classified in the Summary and Prioritization Matrix at Section X as either (a) "Must-Win" for VHG, (b) "Negotiate to Acceptable Middle Ground," or (c) "Acceptable / Lower Priority

The C&H First Draft provides that the default rate of interest shall be equal to the applicable rate plus 200 basis points (i

00% per annum), and that the default rate shall apply only upon written notice from the Administrative Agent or the Required Lenders following the occurrence and during the continuance of an Event of Default

The MFN provision requires that, if VHG incurs incremental term loans at a yield exceeding the yield on the initial TLB by more than the specified threshold, the margin on the initial TLB must be increased to eliminate the excess spread

For example: • If VHG is required to prepay a portion of the TLB with proceeds from an asset sale (a mandatory prepayment under the Credit Agreement), VHG should not be penalized with a 1

This is a must-win issue for VHG given its seasonal borrowing patterns