Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / redline-settlement-agreement-v1-v2.docx
redline-settlement-agreement-v1-v2.docx
Parties
Harkness LLP
Crane LLP
COASTAL PALMS FRANCHISE HOLDINGS LLC
Suncoast Room Management Inc
GULF BREEZE HOSPITALITY LLC
SAVANNAH LODGING PARTNERS LLC
Associates CPAs LLP
Verimark Hospitality Group Inc
Dates
June 15, 2007
September 3, 2019
November 8, 2021
January 18, 2022
February 4, 2022
March 7, 2022
April 18, 2022
February 9, 2024
March 15, 2024
March 22, 2024
Amounts
$12.50
$197,800,000
$9,890,000
$4,945,000
$1,260,000
$28,400,000
$105,500,000
$150,000,000
$12,000,000
$71,200,000
Obligations
NOW, THEREFORE, in consideration of the foregoing recitals (which are incorporated herein by reference), the mutual covenants 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
16 "Personal Guarantors" means Randall Brecker and Nolan Prescott, each of whom shall execute a personal guaranty in accordance with Article IV of this Agreement
22 "Surrendered Properties" means the fourteen (14) hotel properties listed in Exhibit B hereto that Coastal Palms shall de-identify and cease operating under Verimark branding in accordance with Section 5
The Initial Payment shall be funded from an escrow account maintained at Ironclad National Bank, which has been established for this purpose
Verimark shall provide complete wire transfer instructions to Coastal Palms no later than business days prior to the Closing Date