Extract to table

The Pinnacle MLA does not provide for a post-closing cure period with respect to an unconsented transfer — consent must be received in writing prior to the closing of the change of control transaction

Although the specific covenant formulations differ slightly among the three facilities, the core financial requirements are substantially similar: Minimum tangible net worth: The replacement guarantor must maintain, at all times during the term of the applicable loan, a tangible net worth of not less than $500,000,000

Minimum liquid assets: The replacement guarantor must maintain, at all times during the term of the applicable loan, liquid assets of not less than $50,000,000

Release of Existing Guarantor Concurrent with the delivery and execution of the replacement guaranty by Fairwater REIT, each lender must execute and deliver a written release of GMP Fund III from all obligations under the existing carve-out guaranty

The release must be effective as of the closing date and must be unconditional and irrevocable