Extract to table

This date represents the outside deadline by which construction must be completed in a lien-free condition in order to avoid a default under the Completion Guaranty

Achievement and maintenance of the 70% pre-leasing threshold, meaning that not less than 36,400 square feet of the Facility's 52,000 rentable square feet must be subject to executed leases with tenants in occupancy or with lease commencement dates within ninety (90) days of the Conversion Date

The Borrower is required to maintain a minimum DSCR of 1

If the LTV exceeds 70%, the Borrower is required to prepay principal in an amount sufficient to restore compliance within sixty (60) days of notice

The Borrower is required to maintain a minimum of $5,000,000 in unrestricted cash or cash equivalents at all times during the permanent phase

PRE-LEASING STATUS One of the key Conversion Conditions under the Loan Agreement is the achievement and maintenance of a 70% pre-leasing threshold, meaning that not less than 36,400 square feet of the Facility's 52,000 rentable square feet must be subject to executed leases