Extract to table

The additional $1,031,000 in annual debt service represents an incremental cost to the Property's cash flow that must be absorbed by NOI, reducing cash available for distribution to VHG and potentially affecting the Property's ability to meet future coverage ratio tests

A full recourse guaranty of $139,000,000 on a single-asset subsidiary's debt obligation is likely to constitute a "material guaranty" that must be disclosed under Regulation S-K, particularly in VHG's periodic reports (10-K, 10-Q) and potentially in a Current Report on Form 8-K

Before VHG can assess the feasibility — or even the legal possibility — of the cross-collateralization requirement, several threshold questions must be answered: (i) Existing Encumbrances

If the repriced terms constitute a material modification that goes beyond the scope of adjustments contemplated by the Commitment Letter, then VHG can argue that PAC has effectively repudiated the Commitment Letter, that VHG's obligation to close has been excused, and that the deposit must be returned