Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / term-sheet-mediated-settlement.docx
term-sheet-mediated-settlement.docx
Parties
Keystone Dispute Resolution Inc
Verimark Hospitality Group Inc
Defendant Ironclad Indemnity Corp
Ironclad Indemnity Corp
Defendant Pinnacle Surplus Lines Inc
Pinnacle Surplus Lines Inc
Defendant Sovereign Re Ltd
Sovereign Re Ltd
Dates
December 5, 2023
September 18, 2022
July 1, 2022
July 1, 2023
November 15, 2022
February 3, 2023
February 10, 2023
March 1, 2023
November 1, 2023
November 15, 2023
Amounts
$60,000,000
$500,000
$25,000,000
$15,000,000
$10,000,000
$40,000,000
$50,000,000
$47,300,000
$24,500,000
$12,200,000
Obligations
1 Aggregate Settlement Amount The Insurer Defendants shall collectively pay to VHG a total aggregate settlement amount of Forty-Seven Million Three Hundred Thousand Dollars ($47,300,000) (the "Settlement Amount")
Each Insurer Defendant shall be responsible solely for its individual allocated share of the Settlement Amount as set forth in Section 1
No Insurer Defendant shall have any obligation or liability for the payment of any other Insurer Defendant's allocated share
VHG acknowledges and agrees that it shall look only to each individual Insurer Defendant for that Insurer Defendant's allocated share and shall have no right to seek recovery from any Insurer Defendant for any shortfall in payment by another Insurer Defendant
2 Payment Deadline Each Insurer Defendant shall remit its allocated share of the Settlement Amount, as set forth in Section 1
In the event the definitive Settlement Agreement is executed on a date other than December 19, 2023, the forty-five (45) calendar day payment deadline shall be calculated from the actual date of full execution by all Parties