Extract to table
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Extract to table / settlement-agreement-mutual-release.docx
settlement-agreement-mutual-release.docx
Parties
Cascade Retail Holdings Inc
Vantor Holdings Corp
Hemsworth Consumer Products LLC
Tridale Manufacturing Inc
Orion Lifestyle Brands Corp
Harkness LLP
Whitfield LLP
Meridian Forensic Economics LLC
Dates
June 12, 2023
September 7, 2021
September 28, 2021
October 18, 2021
February 28, 2023
April 14, 2023
April 28, 2023
May 15, 2023
June 1, 2021
August 15, 2021
Amounts
$87,400,000
$14,750,000.00
$28,000,000
$19,500,000
$31,000,000
Obligations
NOW, THEREFORE, in consideration of the mutual covenants, promises, 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
In consideration of the mutual covenants, releases, and agreements set forth in this Agreement, Cascade shall pay to Vantor the Settlement Amount of Fourteen Million Seven Hundred Fifty Thousand Dollars and No Cents ($14,750,000
The Settlement Amount represents the total and complete consideration to be paid by Cascade or any of the Cascade Released Parties in connection with the settlement of the Action, and no additional amounts shall be owed or payable by Cascade or any Cascade Released Party to Vantor or any Vantor Released Party in connection with the Released Claims
The Settlement Amount shall be paid by Cascade to Vantor by wire transfer of immediately available funds in United States Dollars to a bank account designated by Vantor in writing
Cascade shall cause the wire transfer of the full Settlement Amount to be initiated within thirty (30) calendar days following the Effective Date