Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / credit-facility-covenant-compliance-memo.docx
credit-facility-covenant-compliance-memo.docx
Parties
Harkness LLP
Vantage Mobility Systems Corp
Redstone Whitaker LLP
M. Briscoe
M. Okafor
Dates
August 15, 2023
June 21, 2022
August 10, 2023
August 3, 2023
August 3, 2024
September 12, 2019
July 31, 2023
December 31, 2022
July 15, 2022
July 1, 2023
Amounts
$175,000,000
$20,000,000
$5,000,000
$92,000,000
$380,000,000
$83,000,000
$485,000,000
$61,000,000
$8,000,000
$2,400,000
Obligations
VMS must notify Pinnacle of any modification to a material contract
VMS must notify Pinnacle of any termination of a material contract, whether by expiration, mutual agreement, exercise of a termination right, or default
VMS must notify Pinnacle of any dispute involving a material contract where the commitments at issue exceed $5,000,000
Specifically, upon entry into Dormancy Status: (a) MeridianCode's maintenance and support obligations are reduced from full-scope support to critical-security-patch-only support; (b) all integration milestone deadlines are tolled for the duration of the dormancy period (per VMS's position, though this interpretation has not been formally accepted by MeridianCode); (c) a 12-month cap is imposed on the duration of dormancy, after which the parties must either renegotiate the MESLSA or terminate it; and (d) VMS's rights to deploy and use the ATLAS-RT™ platform are suspended pending reactivation
4, if the MESLSA has not been reactivated by the expiration of the 12-month dormancy period on August 3, 2024, the parties must enter into mandatory renegotiation, failing which either party may terminate the agreement
No cure or supplemental notice is required to remedy any timing deficiency, as there was no timing deficiency