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      "text": "Triller missed a payment to Wixen Music Publishing in December 2023, triggering penalties under the settlement agreement.",
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      "text": "As of December 31, 2022, the Verzuz Notes are recorded at fair value of $37.1 million, of which $9.0 million is recorded in Current portion of long-term debt and $28.1 million is included in Long-term debt on the consolidated balance sheet.",
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      "text": "Date of Settlement Agreement: September 2022. Lawsuit Basis: Wixen sued Triller for copyright infringement. Settlement Amount: Triller agreed to pay Wixen a total of $10 million in scheduled payments through September 2024.",
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      "text": "As of September 30, 2023, the fair value of the Verzuz Notes was recorded at $41.6 million on Triller’s condensed consolidated balance sheet.",
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      "text": "Approximately $4.5 million has been paid and about $5.5 million remains due. Triller missed a payment to Wixen Music Publishing in December 2023, triggering penalties under the settlement agreement.",
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      "text": "On August 18, 2023, Verzuz LLC issued a demand letter asserting ownership over Verzuz copyrights and trademarks and claimed an event of default had occurred, making the notes immediately due and payable.",
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