Extract to table

Minimum Equity Contribution Before First Draw The term sheet for the Construction Loan Agreement provides that at least twenty-five percent (25%) of total committed equity must be contributed to the Borrower and evidenced in the Borrower's accounts before the first loan advance may be requested

Equity must be deployed in a manner that keeps the drawn loan amount at or below 65% of total costs incurred at each measurement date throughout the construction period

These two timelines must be carefully aligned to avoid a scenario in which a draw request is submitted to Summit before the corresponding equity capital call has been funded

It must be confirmed whether the profits-interest holders in the incentive pool have co-investment obligations — i

Failure to Fund Provisions The Equity Contribution Agreement must address default remedies in the event that Ridgeline Fund IV fails to timely fund a capital call

Because the Construction Loan facility will not yet be available at the time of land acquisition, the entire $77,900,000 land cost must be funded from equity