Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / final-settlement-agreement-execution.docx
final-settlement-agreement-execution.docx
Parties
Verimark Hospitality Group Inc
Coastal Palms Franchise Holdings LLC
Suncoast Room Management Inc
GULF BREEZE HOSPITALITY LLC
SAVANNAH LODGING PARTNERS LLC
Associates CPAs LLP
Crane LLP
Ridgeline Forensic Advisory LLC
Dates
April 22, 2024
June 15, 2007
September 3, 2019
November 8, 2021
January 18, 2022
February 4, 2022
February 28, 2022
March 6, 2022
March 7, 2022
April 18, 2022
Amounts
$1.42
$218
$12.50
$150,000,000
$16,095,000
$28,400,000
$105,500,000
$12,000,000
$197,800,000
$6,200,000
Obligations
Under each FLA, Coastal Palms is required to pay the following fees: (i) a royalty equal to five percent (5%) of Gross Room Revenue ("GRR") (FLA § 4
Entry into this Agreement is not, and shall not be construed as, an admission of liability, wrongdoing, or the validity of any claim or defense by any Party
NOW, THEREFORE, in consideration of the mutual promises, covenants, releases, and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: ARTICLE I — DEFINITIONS As used in this Agreement, the following terms shall have the meanings set forth below
Capitalized terms used but not defined in this Article I shall have the meanings ascribed to them elsewhere in this Agreement
Upon receipt of the Initial Payment, Verimark's counsel, Calderwood & Harkness LLP, at 110 SE 6th Street, Suite 2800, Fort Lauderdale, Florida 33301, shall promptly issue a written confirmation of receipt to counsel for the Coastal Palms Parties
The obligation to make the Initial Payment is unconditional and shall not be subject to any right of setoff, counterclaim, defense, or deduction