Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / bridge-covenant-compliance-review-memo.docx
bridge-covenant-compliance-review-memo.docx
Parties
HARKNESS LLP
Meridian Sunstone Holdings LLC
Devlin LLP
Fairwater Sun Belt XIV LLC
Fairwater Residential Management LLC
M. Rowley
Thornfield Appraisal Group LLC
Alderman LLP
Dates
August 18, 2025
June 30, 2025
August 14, 2025
November 28, 2025
December 31, 2025
August 11, 2025
June 30, 2026
March 31, 2026
July 1, 2025
September 30, 2025
Amounts
$240,000,000
$600,000
$2,400,000
$1,200,000
$385,000,000
$15,769,231
$369,230,769
$10,250,000
$250,250,000
$26,180,000
Obligations
Financial Covenant Framework The Bridge Credit Agreement contains two categories of financial covenants that the Borrower and the Guarantor must satisfy on an ongoing basis during the term of the bridge facility: Entity-Level Covenants
02(a) of the Bridge Credit Agreement, the Borrower is required to deliver to the Administrative Agent a compliance certificate within forty-five (45) days after the end of each fiscal quarter
Each compliance certificate must be signed by Fairwater's Chief Financial Officer, Naomi T
Sinclair, and must set forth in reasonable detail the calculations demonstrating compliance with each of the financial covenants
11(a) of the Bridge Credit Agreement, the Portfolio Loan-to-Value Ratio (the "Portfolio LTV") shall not exceed 65% at any quarterly testing date
11(b) of the Bridge Credit Agreement, the Portfolio Debt Service Coverage Ratio (the "Portfolio DSCR") shall not be less than 1