Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / indenture-negotiation-issues-list.docx
indenture-negotiation-issues-list.docx
Parties
Harkness LLP
Driftwood Absolute Return Fund Ltd
Driftwood Credit Management LLC
Meridian Atlantic Securities LLC
Hayes LLP
Pratt LLP
Aldgate LLP
Morriven LLP
Dates
August 10, 2023
August 22, 2023
July 25, 2023
August 5, 2023
August 7, 2023
August 18, 2023
July 15, 2023
August 4, 2023
September 12, 2025
September 12, 2028
Amounts
$400,000,000
$100,000,000
$400
$28,000,000
$30,000,000
$80,000,000
$1,400,000
$45,000,000
$22,000,000
$60,000,000
Obligations
All issues must be resolved no later than August 18, 2023, to align with the finalization of the Offering Memorandum on that date
The executed Indenture must be delivered on the closing date of August 22, 2023
By the Effective Date, the Collateral Manager must have ramped the portfolio such that all Collateral Quality Tests are satisfied
(b) Pro Forma Test Compliance: Accept the requirement that each discretionary sale must satisfy all Collateral Quality Tests on a pro forma basis after giving effect to the reinvestment of sale proceeds
Substitution Conditions: C&H accepts the condition that each substitution must pass all O/C Tests (Class A: 128
Issue 3: Definition of Collateral Quality Tests The Collateral Quality Tests are among the most critical provisions of the Indenture, as they define the credit parameters within which the Collateral Manager must operate when acquiring and managing collateral obligations