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  "documentTitle": "Moelis & Company | Investment Banking Pitch Book | 36 slides",
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  "authorName": "Moelis & Company",
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  "presentationDate": "2019-08-01 00:00:00",
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  "notes": "Includes a red box highlighting a specific negative variance in Q4 2020E.",
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      "text": "Under MOC's credit agreement, the Company can provide an equity cure in order to meet MOC's covenant testing obligations; alternatively, MOC could get a waiver via an affirmative vote of a majority of each of MOC's term loan and revolver lenders",
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      "text": "Source: Project Bald Eagle Financial Model; financial projections and all underlying assumptions based on direct input from Empire Resorts Management and are subject to change by management",
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      "text": "Key Covenants Analysis (Management Base Case) - MOC (Equity Cure)",
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