Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / dip-term-sheet.docx
dip-term-sheet.docx
Parties
Cascabel Asset Management LLC
Harkness LLP
Driftwood Absolute Return Fund Ltd
Federal Deposit Insurance Corp
Driftwood Capital Advisors LLC
Crane LLP
Alderpoint Advisory Partners LLC
M. Kowalski
Dates
September 1, 2023
September 8, 2023
January 15, 2021
June 1, 2022
September 8, 2024
Amounts
$75,000,000
$43,000,000
$32,000,000
$1.2
$4.8
$47
$620,000,000
$710,000,000
$90,000,000
$385,000,000
Obligations
No binding obligations shall arise from the circulation or acknowledgment of this term sheet
Ridgeline Community Bank will continue to operate under the regulatory supervision of the Delaware Office of the State Bank Commissioner and the Federal Deposit Insurance Corporation (the "FDIC"), and the DIP Facility is not intended to, and shall not, encumber the assets of Ridgeline Community Bank except to the extent of Cascabel's equity interests therein, subject to applicable regulatory restrictions
All references herein to the DIP Lender's counsel shall be deemed references to Calderwood & Harkness LLP
2 Total Commitment The total aggregate commitment under the DIP Facility shall be $75,000,000, comprised of the following tranches: 3
Draw 2 proceeds shall be used for working capital and general corporate purposes of the Debtors during the pendency of the Chapter 11 cases
All draws under the New Money DIP Tranche shall be made in a single funding on the applicable draw date and shall not be subject to reborrowing once repaid