Extract to table

DSCR Test at Extension Section 5(b) of the Term Sheet provides that, as a condition to the exercise of each Extension Option, the Borrower must demonstrate a trailing-twelve-month Debt Service Coverage Ratio ("DSCR") of not less than 1

However, MTDC has concerns regarding the provision as drafted, which states that the required strike rate for the interest rate cap shall be "determined by Agent in its sole discretion

The form of the interest rate cap confirmation shall be reasonably acceptable to both Borrower and Agent

Fraud and Intentional Misrepresentation — Materiality / Knowledge Qualifier Section 9(a)(ii) of the Term Sheet provides that any fraud or intentional misrepresentation by Borrower, Guarantor, or their respective agents in connection with the Senior Mortgage Loan shall constitute a full-recourse trigger

Misapplication / Misappropriation of Funds Section 9(a)(iii) of the Term Sheet provides that any misapplication or misappropriation by Borrower of (i) insurance proceeds, (ii) condemnation awards, or (iii) rents, revenues, and security deposits shall constitute a full-recourse trigger

MTDC acknowledges that the protection of insurance proceeds and condemnation awards is of critical importance to the Agent, as these funds represent a substitute for the collateral and must be applied in accordance with the terms of the Loan Agreement