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In connection with these matters, we assess, on a regular basis, the probability and range of possible loss based on the developments in these matters.
−Removed: In February 2025, an action by a landlord to recover approximately $34,000 plus attorneys’ fees and punitive damages based upon an alleged breach of the lease between Remington Industrial Management LLC and Sunation Solar Systems, Inc.
+Added: In early 2025, an action by a landlord was brought to recover approximately $34,000 plus attorneys’ fees and punitive damages based upon an alleged breach of the lease between Remington Industrial Management LLC and Sunation Solar Systems, Inc.
The landlord asserts that Sunation Solar Systems, Inc.
has the obligation to insure the entire building rather than keep in full force and effect “fire and hazard insurance for the full replacement value of all improvements located on the demised premise” as specifically provided in the lease rider.
−Removed: Sunation Solar Systems denies that it has an obligation to insure the entire building under the express terms of the lease which is not a “triple net lease.” The landlord has asserted three causes of action for breach of contract, declaratory judgment that the lease requires Sunation to insure the building itself, and a third vague “fraud” theory.
+Added: Sunation Solar Systems denies that it has an obligation to insure the entire building under the express terms of the lease, which is not a “triple net lease.” The landlord had asserted three causes of action for breach of contract, declaratory judgment that the lease requires Sunation Solar Systems to insure the building itself, and a third vague “fraud” theory.
The claims against SUNation Energy, Inc.
based upon vague allegations of fraud are likely unsustainable.
−Removed: The claims are baseless and frivolous and defendants intend to vigorously defend them.
+Added: We have since come to agreement with the Landlord on this matter and a stipulation of discontinuance with prejudice has been filed with the court.
+Added: As a result, the action has been dismissed.
From time to time, we also face threatened legal actions or claims in the ordinary course of our business.
−Removed: One such matter involves a residential customer who has informally alleged that Sunation Solar Systems is responsible for the cost to replace certain equipment by a third-party manufacturer that was found to be admittedly defective (by the manufacturer), the cost of which may be substantial.
−Removed: At the moment, SUNation Energy, Inc.
−Removed: has not been included in the claim or allegations;
−Removed: however, to the extent that litigation is commenced, the Company intends to vigorously defend against these as yet unasserted claims.
+Added: One such matter involved a residential customer who has informally alleged that our subsidiary, Sunation Solar Systems, was responsible for the cost to replace certain equipment by a third-party manufacturer that was found to be admittedly defective (by the manufacturer), the cost of which
+Added: may be substantial.
+Added: We have since come to agreement with this residential customer in this matter and, as a result, no litigation or threatened claims relating to this matter remain, and no formal action was filed.
MINE SAFETY DISCLOSURES
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.