Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / loan-document-review-memorandum.docx
loan-document-review-memorandum.docx
Parties
Harkness LLP
Briarwood Family Office LLC
Gramercy Linden PropCo LLC
Gramercy Linden JV LLC
Cedarpoint Capital Partners LLC
Halcyon Ridge Investments LP
Greystone Appraisal Associates LLC
Net Operating Inc
Dates
May 15, 2023
April 19, 2023
February 15, 2023
April 7, 2023
June 5, 2023
May 10, 2023
June 5, 2028
June 5, 2025
June 5, 2030
April 19, 2026
Amounts
$26,000,000
$40,000,000
$41,200,000
$195,000
$2,520,000
$65,000
$2,137,200
$156,433
$176,500
$25,200,000
Obligations
No Event of Default (as defined in the Loan Agreement) shall exist at the time the Borrower delivers the extension notice or at the commencement of the applicable extension period
The Debt Service Coverage Ratio shall be at least 1
The Borrower shall pay an extension fee equal to 0
This restriction must be considered in conjunction with the JV Operating Agreement, which requires unanimous consent of the members for any sale or refinancing as a "Major Decision
Tenants of the Property will be directed to make all rent payments to the lockbox account, and any rents received directly by the Borrower or the property manager (Summit Property Group LLC) must be deposited into the lockbox account within two (2) business days of receipt
The equity transfer restrictions in the Loan Agreement must be reconciled with several provisions of the JV Operating Agreement dated April 19, 2023, which govern the transfer of interests among the JV members