ORI Settlement Payment definition
ORI Settlement Payment means the payment of an ORI equal to 25.0% of the TCP ORI (which is calculated with respect to the TCP ORI assuming it were a 1.0% ORI). For the avoidance of doubt, an ORI with an ORI Percentage of 25.0% is 25% of the aggregate ORI of 1.0%, or 50% of the .5% ORI owned by TCP as of the date of the Original Settlement Agreement. It is agreed among all parties to this Amended and Restated Settlement Agreement that (i) the making of the ORI Settlement Payment is made in consideration of BCI ceasing, from the date of the Original Settlement Agreement through the Closing or the termination of this Amended and Restated Settlement Agreement, to take any action to remove ITCP as the manager of IPC Cayman solely as provided in the Original Settlement Agreement and this Amended and Restated Settlement Agreement and (ii) the agreed value of the ORI Settlement Payment is $1,000,000.