FR EA

Extract to table

Pull the structured facts out of a document: parties, dates, amounts, obligations.

Extract to table / memo-meridian-board-resolution-impact.docx
memo-meridian-board-resolution-impact.docx · 1025-00008

Parties

Quorum Insurance Holdings Corp
Harkness LLP
Breckenridge Capital Management LLC
Overview Quorum Insurance Holdings Corp
Ashe LLP
Pinnacle Ridge Advisory LLC
Morriven Ashford CPAs LLP
Marlowe Buchanan CPAs LLP

Dates

September 5, 2023
August 22, 2023
June 30, 2023
August 8, 2022
August 15, 2022
September 12, 2022
September 30, 2022
November 4, 2022
December 2, 2022
January 18, 2023

Amounts

$60,000,000
$60
$8.9
$4.18
$1.42
$438
$10,800,000
$2,700,000
$12,300,000
$3,075,000

Obligations

Meridian's management is directed to maintain the following positions in the MDLA negotiation, and these positions are characterized as non-negotiable absent a superseding board resolution: (a) A perpetual, royalty-free license-back to Meridian on all Derived Data is a non-negotiable term of the MDLA; (b) No third-party commercialization of Derived Data shall be permitted without Meridian's prior written consent, with Meridian retaining discretion to withhold such consent in its sole judgment; and (c) Any approved third-party commercialization of Derived Data must include a revenue share to Meridian of no less than fifteen percent (15%) of net revenues derived from such commercialization
Tierney should convey that Quorum understands Meridian's pre-IPO priorities and is prepared to work constructively within those constraints, but that Quorum also has its own strategic imperatives — including the protection of QuorumScore™ — that must be respected
Standish National Bank Covenant Considerations Regardless of which strategic option Quorum pursues, Quorum must obtain lender consent or a waiver from Standish National Bank, N