Complex sentence: Despite the praise the band received for "Lament", Resurrection Band called it quits at the end of the tour; however, it would play an annual live set at the Cornerstone Festival, which had become one of the Christian music industry's preeminent events.
Split into simpler sentences: Despite the praise the band received for "Lament", Resurrection Band called it quits at the end of the tour. Despite this announcement, Resurrection Band would get together once a year and play a live set at the annual Cornerstone Festival, which had become one of the Christian music industry's preeminent events.