There were provisions for termination by either party if certain triggers happened.

For example TPL could have terminated the agreement if PDS (then P-Newco) failed to make payments

P-Newco could have terminated the agreement if TPL failed to close transactions based on performance milestones or,

If TPL filed chapter 11 where TPL failed to be a debtor in possession. It is my understanding that TPL is in fact a debtor in possession

Under the NewAg with Alliacense, from what I can tell there is no provision whereby PDS in and of itself may terminate the agreement. Only Alliacense may terminate with or without cause based on certain criteria.

If Alliacense terminates the agreement without cause it shall provide to PDS all licensing Program licensing communication files (which contain all communications to and from prospective and actual licensees).

It would seem to me that there is no way out with Alliacense but Patriot could find a way to take control of PDS by making larger capital contributions than TPL. They need to scrutinize every expense submitted by Dan Leckrone and his family members. If DL is supposed to be insolvent and he isn't covering his capital contributions by overstating his expenses....Patriot needs to find a way to take control of PDS.

Also, does anyone know if DL collects expenses from PDS and licensing fees, is he required to turn that money over to the BK committee to pay his creditors before he is allowed to make capital contributions to PDS? I don't know the mechanics of a chapter 11 BK or how money received by the debtor is handled. If he is a debtor in possession does DL make the decisions as to who gets paid first??

Corrections are always welcome