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Message: Agreements relating to Assignment of TPL Seat on PDS BoD

Why would Carl, Gloria and/or Cliff agree to this one sided arrangement?

TPL Opening Disclosure Statement 12-23-13 found in BaNosser post as follows:

http://agoracom.com/ir/patriot/forums/discussion/topics/596380-tpl-bk-documents-dec-16-17-23/messages/1870873#message

E . Agreements Relating to Assignment of TPL Seat On PDS Board of Director

To Committee Representative And Impact Of Possible Future Intentional Breach By PDS(beginning p. 74

…..The Services Agreement in effect between Alliacense and PDS entitles Alliacense to terminate it for cause and/or convenience, but contains no reciprocal entitlement for PDS. Unilateral termination of the Services Agreement by some future iteration of the PDS board could constitute a breach of contract giving rise to substantial liability on behalf of PDS, including past and future contingent fee entitlements with respect to MMP portfolio licensing and litigation. PDS does not have sufficient information to opine as to whether PDS could terminate Alliacence, find a replacement and increase recoveries to the Creditor Trust Trustee from the MMP Portfolio beyond the damages its breach might generate.


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