Extract to table

In addition to the monetary terms, the Settlement Agreement contains several critical non-monetary obligations requiring ongoing monitoring: • Franchise Surrender of 14 Properties: Fourteen of Coastal Palms' 22 hotel properties will surrender their Verimark franchise, with a 120-day de-identification deadline of August 20, 2024 by which all Verimark branding, proprietary systems, and trademarks must be removed

5% per annum shall accrue on the outstanding principal balance from the Settlement Agreement effective date (April 22, 2024) until each installment is paid in full

This interest is calculated on a simple (non-compounded) basis and must be paid together with each semi-annual installment

5 provides that if any semi-annual installment is not received by the applicable due date, Coastal Palms shall have a cure period (the length of which is specified in the Settlement Agreement) during which it may tender payment without triggering an acceleration event

Accordingly, a continuation statement must be filed within six months before the expiration of the initial filing to maintain perfection

The filing was made on or about April 22, 2024; therefore, the continuation statement must be filed no later than approximately October 22, 2028 (but no earlier than approximately October 22, 2028)