Extension Agreement to Master Transaction Agreement between Virage Recovery Master LP and Other Parties (May 1, 2025)
This letter agreement, dated May 1, 2025, extends the deadline under the Master Transaction Agreement originally signed on March 9, 2022, by Virage Recovery Master LP and several other parties, including John H. Ruiz and Frank C. Quesada. The extension moves the final payment date to November 30, 2026, unless a specified Trigger Event occurs, which would accelerate the payment date unless Virage Recovery Master LP waives it. The agreement is effective as of April 30, 2025.
Exhibit 10.2
May 1, 2025
Via email
John H. Ruiz ***@***)
Frank C. Quesada ***@***)
RE: Extension of Extension Date under Master Transaction Agreement
Reference is made to the Master Transaction Agreement entered into as of March 9, 2022, by and among Virage Recovery Master LP (“VRM”), Series MRCS, a series of MDA, Series LLC, John H. Ruiz, an individual, Frank C. Quesada, an individual, Virage Capital Management LP, MSP Recovery, LLC, La Ley con John H. Ruiz, d/b/a MSP Recovery Law Firm, and MSP Law Firm, MSP Recovery, Inc. (f/k/a Lionheart Acquisition Corporation II), and Lionheart II Holdings, LLC, as amended April 11, 2023, November 13, 2023, and March 26, 2024 (the “MTA”). Capitalized terms not defined in this letter have the meanings provided in the MTA.
VRM agrees, effective as of April 30, 2025, to extend the Extension Date to November 30, 2026, subject to the automatic and immediate acceleration of the final payment date of the VRM Full Return upon the occurrence of any Trigger Event (unless waived by VRM).
Virage Recovery Master LP
By: Virage Recovery LLC, its general partner
By:
Name: Edward Ondarza
Title: Manager
1700 Post Oak Boulevard, 2 BLVD. Place, Suite 300 • Houston, Texas 77056 • Phone: 713 ###-###-####
