Contract analysis

1. RETENTION OF JURISDICTION 1.1. The Court shall retain jurisdiction over this action and over the parties hereto for a period of one hundred and eighty (180) days following the Effective Date of the Settlement Agreement, as that term is defined therein (the "Enforcement Period"), for the sole and limited purpose of enforcing the terms and conditions of the Settlement Agreement. 1.2. Without limiting the generality

2. PAYMENT TERMS SUMMARY (INCORPORATED BY REFERENCE) 2.1. The Settlement Agreement provides for three payments by Defendants to Plaintiff, totaling Seven Million Eight Hundred Fifty Thousand Dollars ($7,850,000.00), as follows: (a) Payment 1: Four Million Dollars ($4,000,000.00), due and payable within thirty (30) days of the Effective Date of the Settlement Agreement; (b) Payment 2: Two Million Dollars ($2,000,000.0

3. DEFAULT AND CONSENT JUDGMENT 3.1. In the event that Defendants fail to make any payment required under the Settlement Agreement within the time periods specified therein, and such failure continues for a period of ten (10) business days after written notice of default has been delivered by Plaintiff to Defendants' counsel, Calderwood & Harkness LLP, at One Liberty Plaza, 50th Floor, New York, New York 10006, Atten

4. DISCONTINUANCE 4.1. Pursuant to Section 8.1 of the Settlement Agreement, within ten (10) business days of Defendants' timely remittance of the final payment (Payment 3, as described in Section 2.1(c) above) and the release of such payment from escrow to Northwind, the parties shall execute and file a Stipulation of discontinuance with Prejudice on NYSCEF, discontinuing this action in its entirety, with prejudice,

5. WITHDRAWAL OF PENDING MOTIONS 5.1. The parties hereby confirm that all pending motions in this action, including but not limited to Defendants' Motion for Partial Summary Judgment filed on September 20, 2024 (NYSCEF Doc. No. 87), together with all supporting and opposing papers filed in connection therewith, have been or shall be withdrawn with prejudice, without costs to any party, pursuant to a separate Stipulat

6. CONFIDENTIALITY 6.1. The terms and conditions of the Settlement Agreement, including the settlement amount and the payment schedule, are confidential as between the parties, subject to such disclosures as are expressly permitted under the Settlement Agreement, including without limitation disclosures to the parties' respective insurers, lenders, auditors, tax advisors, officers, directors, and legal counsel, and d

7. NOTICE PROVISIONS 7.1. All notices, requests, demands, or other communications required or permitted under this Stipulation and Order shall be in writing and shall be deemed to have been duly given when delivered by hand, by overnight courier (with confirmation of delivery), or by electronic mail (with confirmation of receipt), addressed as follows: For Plaintiff Northwind Maritime Corporation: Margaret Delacroix,

8. MISCELLANEOUS PROVISIONS 8.1. Binding Effect. This Stipulation and Order shall be binding upon the parties and their respective successors, assigns, heirs, executors, administrators, and legal representatives. Each party represents and warrants that the person executing this Stipulation and Order on its behalf has been duly authorized to do so and has the full power and authority to bind the party on whose behalf