Extract to table

Leasing of hotel spaces (including food and beverage outlets, the spa, the marina, and retail or service vendor spaces) in the ordinary course of business shall not constitute a "Transfer" for purposes of the transfer restriction provisions

In addition, we have requested that any inadvertent transfer that would otherwise constitute a violation of the transfer restrictions shall not constitute an Event of Default if the Borrower cures or reverses such transfer within thirty (30) days following written notice from PAC

Under this structure, all revenues generated by the Coral Palms Grand Resort & Spa — including room revenues, food and beverage revenues, spa revenues, marina revenues, event and conference revenues, and all other operating income from the Property's 342 rooms, three food and beverage outlets, spa, marina, and event space — must be deposited into a lockbox account controlled by PAC at all times during the loan term

We have proposed language expressly providing that all DSCR calculations for purposes of the Cash Management Agreement shall be based on trailing twelve-month NOI and trailing twelve-month debt service

PAC should be required to approve or object to each requisition within ten (10) business days of receipt, and if PAC fails to respond within such period, the requisition shall be deemed approved

Any prepayment must be a prepayment of the entire outstanding principal balance