Extract to table

Formation of the Borrower and the finalization of its operating agreement to conform to lender-required SPE provisions must be completed prior to loan closing

This is critical to avoid a "double-equity" outcome in which Ridgeline is required to fund the land plus an additional $52,500,000 before any loan proceeds are made available

Cross-reference to the Equity Contribution Agreement currently being negotiated with Ridgeline Fund IV: draw sequencing mechanics between equity and debt must be aligned across the two documents

Coordination with Other Project Agreements The Facility does not exist in a vacuum; it must be harmonized with the other principal project agreements

The following coordination items should be tracked and confirmed in definitive documentation: • EPC Agreement (TMCG): Collateral assignment must be coordinated with TMCG's change-of-control consent right

Lender step-in rights upon Borrower default must be negotiated into the EPC Agreement (typically via a consent, agreement, and recognition agreement from TMCG)