Liquidating trust agreement and indemnification


01-May-2020 14:26

The Participation Agreement provides that the Senior Participation, the Retained Asset and the mortgage loan underlying the Excluded Asset (the “Mortgage Loan”) will be serviced by CFI Holdings or such replacement servicer selected by CFI Holdings in its sole and absolute discretion (the “Servicer”).

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If the Indemnifying Parties do not elect to assume the defense and control of a Third Party Claim, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in its sole discretion and shall not thereby waive any right to indemnity therefor pursuant to this Agreement.Pursuant to the Combination Agreement, on the Closing Date, North Star I merged with and into CLNC (the “North Star I Merger”), and each share of North Star I’s common stock, par value [[

If the Indemnifying Parties do not elect to assume the defense and control of a Third Party Claim, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in its sole discretion and shall not thereby waive any right to indemnity therefor pursuant to this Agreement.

Pursuant to the Combination Agreement, on the Closing Date, North Star I merged with and into CLNC (the “North Star I Merger”), and each share of North Star I’s common stock, par value $0.01 per share (the “North Star I Common Stock”), was converted into the right to receive 0.3532 shares of Class A common stock, par value $0.01 per share, of CLNC, plus cash in lieu of fractional shares.

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If the Indemnifying Parties do not elect to assume the defense and control of a Third Party Claim, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in its sole discretion and shall not thereby waive any right to indemnity therefor pursuant to this Agreement.Pursuant to the Combination Agreement, on the Closing Date, North Star I merged with and into CLNC (the “North Star I Merger”), and each share of North Star I’s common stock, par value $0.01 per share (the “North Star I Common Stock”), was converted into the right to receive 0.3532 shares of Class A common stock, par value $0.01 per share, of CLNC, plus cash in lieu of fractional shares.

]].01 per share (the “North Star I Common Stock”), was converted into the right to receive 0.3532 shares of Class A common stock, par value [[

If the Indemnifying Parties do not elect to assume the defense and control of a Third Party Claim, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in its sole discretion and shall not thereby waive any right to indemnity therefor pursuant to this Agreement.

Pursuant to the Combination Agreement, on the Closing Date, North Star I merged with and into CLNC (the “North Star I Merger”), and each share of North Star I’s common stock, par value $0.01 per share (the “North Star I Common Stock”), was converted into the right to receive 0.3532 shares of Class A common stock, par value $0.01 per share, of CLNC, plus cash in lieu of fractional shares.

||

If the Indemnifying Parties do not elect to assume the defense and control of a Third Party Claim, the Indemnified Party shall have the right to contest, settle or compromise the Third Party Claim in its sole discretion and shall not thereby waive any right to indemnity therefor pursuant to this Agreement.Pursuant to the Combination Agreement, on the Closing Date, North Star I merged with and into CLNC (the “North Star I Merger”), and each share of North Star I’s common stock, par value $0.01 per share (the “North Star I Common Stock”), was converted into the right to receive 0.3532 shares of Class A common stock, par value $0.01 per share, of CLNC, plus cash in lieu of fractional shares.

]].01 per share, of CLNC, plus cash in lieu of fractional shares.



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