I am ok with specifying that the interim payments will be applied to accrued unpaid interest at contractual rate with any leftover applied to the principal. I don’t want to hold it in escrow. Earlier today when Jenny called, I told Jenny (CFO) there was no term sheet until after the Standstill Agreement is signed, and interim payments received. She also told me that they have already discussed with their trust attorney to start considering ways to unwind the trusts.
She has two other issues mentioned in Section 2 (vii) of the SA.
(i) The Credit Parties shall provide Quickbooks data files for the time period January 1, 2013 to the present, for the following entities: Action Funding of NY LLC, Executive Owners Holding Corp., Queens Medallion
She has two other issues mentioned in Section 2 (vii) of the SA.
(i) The Credit Parties shall provide Quickbooks data files for the time period January 1, 2013 to the present, for the following entities: Action Funding of NY LLC, Executive Owners Holding Corp., Queens Medallion