Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / commitment-letter-comment-letter.docx
commitment-letter-comment-letter.docx
Parties
HARKNESS LLP
OVERNIGHT COURIER Philip Tarrant Corp
Driscoll LLP
Coral Palms Resort Holdings LLC
Tarrant Corp
Verimark Hospitality Group Inc
Net Operating Inc
VHG Management Services LLC
Dates
December 11, 2022
December 9, 2022
September 30, 2022
January 15, 2019
January 5, 2023
March 6, 2023
December 12, 2022
October 15, 2022
March 1, 2023
February 22, 2023
Amounts
$160,000,000
$235,000,000
$18,400,000
$211,500,000
$800,000
$1,600,000
$152,000,000
$8,560,000
$713,333.33
$1,000,000
Obligations
Execution of the Commitment Letter shall not be deemed a waiver of any of the comments, objections, or proposed modifications set forth below
09% as of the date of execution is deemed compliant with the maximum LTV covenant and shall not constitute a breach thereof or a basis for repricing or reduction of the Loan Amount; or (b) In the alternative, the maximum LTV should be adjusted from 68
below $211,500,000), the Borrower shall have the right to request a second appraisal at the Borrower's sole cost and expense
The second appraisal shall be conducted by a separate MAI-designated appraiser mutually agreed upon by the parties
If the two appraisals differ by more than 5%, the parties shall engage a third appraiser to render a final determination, and the appraised value for purposes of the LTV calculation shall be the average of the two closest values
During such negotiation period, neither party shall be deemed in breach of the Commitment Letter, and all deadlines (including the rate lock period and the outside closing date) shall be tolled accordingly