From the EPR conference call transcript regarding Peak
" Despite the difficulties posed by this year's ski season, we are happy to report that each of our tenants has fully funded their offseason reserves. As we discussed on our last call, we anticipate that our ski portfolios coverage would be approximately 1.2 times, reflecting unseasonably warm weather of the past winter season and we believe that the coverage for the trailing 12 months ended April 30, 2016 will be around 1.2 times.
Additionally, Peak Resorts has funded approximately $12 million of improvements for amounts in our resort and anticipates reimbursement for these improvements via the EB-5 program. The monies related to this reimbursement are currently in an escrow account pending final approvals. Peak has fully funded their offseason reserve to EPR. However, they are exploring avenues for additional liquidity, should the release of the EB-5 funds continue to be delayed. As one of those alternatives, we were approached by Peak to consider its secured term loan should they need it. We indicated that any loan request considered by EPR will be a maximum of $10 million and so require a suspension of all dividends to common shareholders of Peak, until the full repayment of the loan among other conditions. Peak continues to explore their alternatives, and we do not have any agreement to advance additional monies at this time."