Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / letter-adequate-protection-proposal.docx
letter-adequate-protection-proposal.docx
Parties
HARKNESS LLP
Crane LLP
Driftwood Absolute Return Fund Ltd
Driftwood Capital Advisors LLC
Cascabel Asset Management LLC
Federal Deposit Insurance Corp
Breckenridge McCoy LLP
Sato LLP
Dates
October 3, 2023
September 19, 2023
October 13, 2023
September 8, 2023
January 15, 2021
January 15, 2026
March 1, 2025
September 15, 2023
October 2, 2023
December 7, 2023
Amounts
$75,000,000
$385
$620
$710
$90
$47
$183,500,000
$120,000,000
$32,000,000
$0.68
Obligations
The Replacement Liens shall attach to the same collateral base as the pre-petition first lien collateral and shall secure all pre-petition first lien obligations owed to the Protected Lenders in the aggregate amount of $88,000,000
No other post-petition liens shall be senior to or pari passu with the Replacement Liens except as specified in clauses (a) through (c) above
No other administrative expense claims (whether arising under Section 503(b), Section 507(a), or otherwise) shall be senior to or pari passu with the Protected Lenders' Superpriority Claims, except for the DIP claims of Driftwood and the Carve-Out as provided above
Monthly adequate protection payments shall be made through Velthorn National Bank, N
In each case, the Protected Lenders' rights to receive adequate protection payments shall terminate only upon the satisfaction of all adequate protection obligations or as otherwise provided in the Final DIP Order
Adequate Protection Reserve A cash reserve in the amount of $3,500,000 (the "Adequate Protection Reserve") shall be funded from the proceeds of the initial DIP draw (Draw 1 of $18,000,000, which was funded under the Interim DIP Order entered September 15, 2023)