I agree with you, the loan is definitely in our favor. Respectfully, this is my understanding:
The highlighted text states that LGHC (Risinger) will obtain (not provide) a letter of credit from the lender (Regions Bank) in addition to satisfying the additional stipulations provided by the investor (Al Rami Pure). If LGHC (Risinger) obtains the letter of credit (from Regions Bank), Lily Group (VHGI) agrees to let LGHC (Risinger) keep the $65million loan in an account of his (LGHC) choosing. LGHC (Risinger) will then dole out the funds as deemed appropriate and agreed upon by VHGI and Al Rami.
In essence, Risinger is putting his neck on the line ($10.5million worth) in order to facilitate the loan.
Hell, if he's in, I'm in!!
Respectfully
NN
