| Restriction on Dispositions · Negative Covenant – Dispositions | No disposition of all or substantially all assets of Borrower and Subsidiaries on a Consolidated basis | | source ↗ |
| Merger or Consolidation · Negative Covenant – Merger | No merger or consolidation unless no Default exists after giving effect thereto and Borrower or a domestic corporation is the survivor | | source ↗ |
| Asset Sale Net Cash Proceeds Threshold · Mandatory Prepayment | Net Cash Proceeds from Asset Sales not required to be applied to prepay Loans until aggregate exceeds $1,000,000,000 after Closing Date | | source ↗ |
| Use of Proceeds · Affirmative Covenant | Proceeds of Loans to be used solely to finance the Oak Street Acquisition and related fees, commissions and expenses | | source ↗ |
| Pricing Level – Interest Rate Grid · Pricing | Pricing Level 1 (≥Baa1/BBB+): 0 bps Base Rate / 100 bps Term SOFR; Pricing Level 2 (<Baa1/BBB+ and >Baa2/BBB): 12.5 bps / 112.5 bps; Pricing Level 3 (<Baa2/BBB): 25 bps / 125 bps | | source ↗ |
| Lien Basket (Additional Liens) · Negative Covenant – Liens | Additional Liens securing Indebtedness not exceeding 15% of Net Tangible Assets in aggregate outstanding Consolidated principal amount | market 15% vs basket median 20% (n=122) | source ↗ |
| Cross-Default / Cross-Acceleration · Event of Default | Obligations in aggregate Consolidated amount exceeding $300,000,000 declared due and payable prior to expressed maturity, or not paid when due, or holder has right to accelerate | loose $300m vs event of default median $125m (n=62) | source ↗ |
| Mandatory Prepayment – Debt Issuance / Equity Issuance / Asset Sale · Mandatory Prepayment | 100% of Net Cash Proceeds from Debt Issuance, Equity Issuance or Asset Sale applied to reduce Commitments (pre-Closing) or prepay Loans (post-Closing); Asset Sale proceeds not required to be applied until aggregate exceeds $1,000,000,000 after Closing Date | market 100% vs mandatory prepayment median 100% (n=26) | source ↗ |
