Contract analysis

Section 1: Entry of Judgment Upon submission by Northwind to this Court of a sworn affidavit of default (substantially in the form attached hereto as Exhibit C) executed by an officer of Northwind or by counsel for Northwind with personal knowledge of the relevant facts, establishing the following: (a) the specific installment payment or payments that are in default; (b) the date or dates on which such payment or pay

Section 2: Definition of Unpaid Balance For purposes of this Consent Judgment, the term "Unpaid Balance" shall mean the aggregate amount of all installment payments that remain unpaid as of the date of Defendants' default under the Settlement Agreement, calculated as follows: (a) The Unpaid Balance shall equal the total Settlement Amount of Seven Million Eight Hundred Fifty Thousand Dollars ($7,850,000), less the cum

Section 3: Interest The Unpaid Balance shall bear interest at the rate of nine percent (9%) per annum, calculated on a simple interest basis (365-day year), accruing from the date of Defendants' default — that is, the date upon which the defaulted installment payment was originally due and payable under the Settlement Agreement — and continuing until the date of full satisfaction of this Judgment. The interest rate s

Section 4: Joint and Several Liability Judgment shall be entered against both Defendant Thalassa Shipping & Logistics SA and Defendant Aegean Fortuna Shipholding Ltd. jointly and severally, such that each Defendant shall be fully liable for the entire amount of the Unpaid Balance, together with all accrued interest, costs, disbursements, and attorneys' fees recoverable hereunder. This provision is consistent with and

Section 5: Acceleration Upon entry of this Consent Judgment, all remaining installments under the Settlement Agreement that have not yet been paid and released to Northwind shall be deemed immediately due and payable in full, regardless of whether the scheduled due dates for such installments have yet occurred. Accordingly, the Unpaid Balance shall reflect the total of all unpaid installments, including any installme

Section 6: Credits Against Judgment Defendants shall receive full credit against this Judgment for any and all settlement installment payments that were previously made by Defendants and actually released from escrow through Atlantic Fiduciary Trust Company (Escrow Account No. ESC-2024-NYK-08831) to Northwind prior to the entry of this Consent Judgment. In the event Defendants make additional payments after entry of

Section 7: Costs and Disbursements In addition to the Unpaid Balance and accrued interest, Northwind shall be entitled to recover from Defendants all costs and disbursements reasonably incurred in connection with the filing and enforcement of this Consent Judgment, including but not limited to: (a) filing fees and court costs associated with the submission and entry of this Consent Judgment; (b) service of process co

Section 8: No Admission of Liability The entry of this Consent Judgment does not constitute, and shall not be construed as, an admission of liability, fault, wrongdoing, or the validity of any claim or defense by any party with respect to any of the causes of action, counterclaims, defenses, or other matters asserted or which could have been asserted in this action. This Consent Judgment is entered solely to provide

Section 9: Release Not Affected The mutual general release set forth in Article VI of the Settlement Agreement shall remain in full force and effect notwithstanding the entry of this Consent Judgment and shall not be impaired, modified, diminished, or in any way affected by the entry hereof. Nothing in this Consent Judgment shall be deemed to revive, reinstate, or permit the assertion of any claims, counterclaims, cr

Section 10: Governing Law This Consent Judgment shall be governed by and construed in accordance with the laws of the State of New York, without regard to principles of conflicts of law that would require or permit the application of the laws of any other jurisdiction. All questions concerning the interpretation, validity, and enforcement of this Consent Judgment shall be determined in accordance with New York law, i

Section 11: Enforcement Northwind may enforce this Consent Judgment by any and all means available under the laws of the State of New York and applicable federal law, including but not limited to: (a) execution against the property and assets of Defendants, wherever located, pursuant to CPLR Article 52; (b) restraining notices served upon Defendants and third parties in accordance with CPLR § 5222; (c) information su