Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / joint-stipulation-neutral-appraiser.docx
joint-stipulation-neutral-appraiser.docx
Parties
Claimant Meridian Shores Hospitality LLC
Castillo LLP
Respondent Pellegrino Capital Group LLC
Harkness LLP
Palmetto Grand Ventures LLC
Resorts Inc
Whitfield Realty Advisors LLC
Beacon Valuation Group Inc
Dates
May 30, 2023
June 15, 2017
January 9, 2023
February 10, 2023
December 31, 2022
March 1, 2023
March 10, 2023
April 14, 2023
March 20, 2023
April 5, 2023
Amounts
$118,000,000
$41,300,000
$151,500,000
$33,500,000
$48,600,000
$62,800,000
$289
$18,400,000
$19,700,000
$24,300,000
Obligations
4(c) of the Operating Agreement provides, in pertinent part, that if the appraisals obtained by the respective Parties diverge by more than ten percent (10%), the Parties shall jointly select a third independent MAI-certified appraiser (the "Neutral Third Appraiser"), and the Fair Market Value shall be determined as the arithmetic average of the two appraisals (out of the three total appraisals) that are closest in value to each other
The appraisal engagement shall be led by Thomas Carraway, MAI, FRICS, a principal of Linden Park
Linden Park shall serve as an independent, neutral appraiser and shall not serve as an advocate for either Party
If at any time during the engagement Linden Park or Thomas Carraway becomes aware of any circumstance that could reasonably give rise to an actual or perceived conflict of interest, Linden Park shall promptly disclose such circumstance to both Parties and their counsel in writing
For purposes of this Stipulation and the appraisal to be conducted hereunder, "Fair Market Value" shall have the meaning ascribed to it in Section 12
The appraisal shall value the assets before deduction of any outstanding indebtedness of PGV (i