KeyBank Real Estate Capital 1200 Abernathy Road, NE Suite 1550 Atlanta, GA 30328 April 30, 2008 American Church Mortgage Company c/o Church Loan Advisors, Inc. 10237 Yellow Circle Drive Minnetonka, MN 55343 Attn: Phillip J. Myers Scott Marquis Re:...American Church Mortgage Co • May 15th, 2008 • Real estate
This letter serves to amend Section 9.5 of the Revolving Credit Agreement to permit the amount of Non-Performing Assets to total up to, but not including, twenty-five percent (25.0%) of the sum of its Consolidated Tangible Net Worth plus Actual Loan Loss Reserve Balance through December 30, 2008. Please note that the testing of this financial covenant on December 31, 2008 shall be completed at the original twenty percent (20.0%) level.
December 12, 2007 American Church Mortgage Company c/o Church Loan Advisors, Inc. 10237 Yellow Circle Drive Minnetonka, MN 55343 Attn: Phillip J. Myers Scott Marquis Re: Revolving Credit Agreement among American Church Mortgage Company, as Borrower,...American Church Mortgage Co • May 15th, 2008 • Real estate
This letter serves to amend Section 9.5 to permit the amount of Non-Performing Assets to total up to, but not including, twenty-five percent (25.0%) of the sum of its Consolidated Tangible Net Worth plus Actual Loan Loss Reserve Balance through March 30, 2008. Please note that the testing of this financial covenant on March 31, 2008 shall be completed at the original twenty percent (20.0%) level.
Key Bank Real Estate Capital 1200 Abernathy Road, NE Suite 1550 Atlanta, GA 30328 April 30, 2008 American Church Mortgage Company c/o Church Loan Advisors, Inc. 10237 Yellow Circle Drive Minnetonka, MN 55343 Attn: Phillip J. Myers Scott Marquis Re:...American Church Mortgage Co • May 15th, 2008 • Real estate
This letter serves to amend Section 9.5 of the Revolving Credit Agreement to permit the amount of Non-Performing Assets to total up to, but not including, twenty-five percent (25.0%) of the sum of its Consolidated Tangible Net Worth plus Actual Loan Loss Reserve Balance from March 30, 2008 through December 30, 2008. Please note that the testing of this financial covenant on December 31, 2008 shall be completed at the original twenty percent (20.0%) level.
