Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / good-faith-deposit-escrow-instructions.docx
good-faith-deposit-escrow-instructions.docx
Parties
HARKNESS LLP
Coral Palms Resort Holdings LLC
Verimark Hospitality Group Inc
Driscoll LLP
Philip Tarrant Corp
Halcyon Partners LLC
Harkness LLP Philip Tarrant Corp
Dates
December 12, 2022
December 9, 2022
January 5, 2023
Amounts
$160,000,000
$1,600,000
$800,000
Obligations
0%) of the Loan amount, which the Borrower is required to deposit with a third-party escrow agent pursuant to Section 4(a) of the Commitment Letter
The Escrow Agent shall provide such confirmation no later than one (1) business day following receipt of the wire transfer
The Escrow Agent shall identify the proposed depository institution to the Borrower and the Lender promptly upon receipt of the Deposit, and the Borrower and the Lender shall each have two (2) business days from such notification to object to the proposed institution
In the absence of any timely objection, the proposed depository institution shall be deemed acceptable
All interest earned on the Deposit shall accrue for the benefit of the Borrower
Interest income shall be reported to the Internal Revenue Service under the Borrower's taxpayer identification number, which shall be provided by the Borrower separately under cover of a completed IRS Form W-9