Corp has the relevant entity power and authority necessary to execute and deliver this Letter Agreement and each other agreement, document or writing executed or delivered in connection with the Letter Agreement and each amendment or supplement to any of the foregoing (including this Letter Agreement, the “Transaction Documents”) to which BFE Corp. is a party, and to perform and consummate the transactions contemplated hereby and thereby (the “Transactions”). BFE Corp. has taken all action necessary to authorize the execution and delivery by BFE Corp. of each Transaction Document to which BFE Corp. is party, the performance of BFE Corp.’s obligations thereunder, and the consummation by BFE Corp. of the Transactions. Each Transaction Document to which BFE Corp. is a party has been duly authorized, executed and delivered by BFE Corp., and is enforceable against BFE Corp. in accordance with its terms except as such enforceability may be subject to the effects of bankruptcy, insolvency, reorganization, moratorium or other Laws relating to or affecting the rights of creditors and general principles of equity (the “Enforceability Exception”).
Corp has entered into an agreement, dated as of September 23, 2010 (the “Cargill Acknowledgement Letter”) with Xxxxxxx, Xxxxxxxxxxxx and its affiliates (collectively, “Cargill”), which provides that upon payment (the “Cargill Payment”) of $2,800,828 (plus accrued and unpaid interest on such amount as of the date of payment pursuant to the agreement, dated January 14, 2009, by and between BFE Corp. and certain of its affiliates and Cargill (the “Cargill Settlement Agreement”)) from the proceeds of the Rights Offering and the Concurrent Private Placement, Cargill shall forgive the remaining Payable (as defined in the Cargill Settlement Agreement) in exchange for Depositary Shares in an amount equal to the amount of the remaining Payable, which amount shall be converted into Depositary Shares at a price equal to the average of the volume weighted averages of the trading prices for the prior ten (10) day trading period of the Common Stock, ending on the second trading day immediately preceding the date the Depositary Shares are issued to Cargill (such amount of Depositary Shares, the “Cargill Depositary Shares”). BFE Corp. hereby agrees that it shall not breach, violate or terminate the Cargill Acknowledgment Letter. BFE Corp. agrees that it will not amend, waive or modify the Cargill Acknowledgement Letter without the written consent of Greenlight. The Cargill Depositary Shares will have the same rights and preferences (including the same Conversion Ratio) as the Depositary Shares that will be issued in the Rights Offering. In order to issue the Cargill Depositary Shares, BFE Corp. will designate and issue and deposit with the depositary a number of additional shares of Series A Non-Voting Convertible Preferred Stock that corresponds to the aggregate fractional interests in shares of Series A Non-Voting Convertible Preferred Stock that the newly issued Cargill Depositary Shares represent. In the event that an insufficient number of authorized shares of Series A Non-Voting Convertible Preferred Stock are available for such issuance and deposit with the depositary, BFE Corp. will establish an alternative method for satisfying the Cargill Stock Payment that is satisfactory to it, Cargill and the Backstop Parties. Concurrent with the issuance of Cargill Depositary Shares, the LLC will issue to BFE Corp. a number of Preferred Membership Interests equal to the number of Cargill Depositary Shares.
Corp from unallocated insurance proceeds for hail-damage suffered to vehicles still in inventory at December 31, 1998, which reserve will be $200,000 for Cherry Creek Dodge, Incorporated, and $50,000 each for Xxxxxxxx Auto Corp. and Xxxxxxx X.
Corp. The Special Hail-Damage Reserve constitutes only a portion of the total insurance damage reserve established by those three entities in respect of hail damage suffered in 1998.
Corp to authorize the execution and delivery of the Acquisition Agreement and the performance of its obligations thereunder;
Corp. Borrower hereby agrees to indemnify, defend and hold Lender harmless from and against any and all claims, liabilities, costs and expenses of any kind (including Lender's reasonable attorneys' fees and expenses) in any way relating to or arising from a claim by any Person that such Person acted on behalf of Borrower or Lender in connection with the transactions contemplated herein. The provisions of this Section 10.21 shall survive the expiration and termination of this Agreement and the payment of the Debt.
Corp. The Xxxxxx Export (XXIII) Corp. The Xxxxxx Export (XXIV) Corp. The Xxxxxx Export (XXV) Corp. The Xxxxxx Export (XXVI) Corp. The Xxxxxx Export (XXVII) Corp. The Xxxxxx Export (XXVIII) Corp. The Xxxxxx Export (XXIX) Corp. The Xxxxxx Export (XXX)
Corp has a 7.34% indirect ownership interest in borrower and a net worth of $25.0 million as of June 30, 2016. 28 Little York Plaza Shopping Center (Loan No. 34) No warm body carve-out guarantor (Plaza Fiesta, LLC); Stated net worth/ liquidity of $27,000 / $49,000 as of 09.30.2016. The Sch. C-4 Representation Number on Exhibit C Mortgage Loan Name and Number as Identified on Exhibit A Description of Exception Washington State Investment Board, with total assets under management of $118.8 billion, holds an 86.6% indirect ownership interest in the borrower. At closing, a $1,168,500 Loan Enhancement Funds letter of credit was required as additional collateral for the loan, subject to release upon guarantor’s satisfying a minimum net worth/ liquidity of $5.58 million/ $250,000 on or before July 24, 2018. If the release condition is not satisfied, borrower has no further right to disbursement of funds and lender may, at its option, either hold funds as additional collateral for the loan or apply to loan balance, including applicable costs, fees and yield maintenance premium. If the release condition is satisfied, then guarantor is thereafter required to satisfy a minimum net worth/ liquidity of $5.58 million/ $250,000.
Corp. 70, a Michigan corporation, and its successors and assigns, including pursuant to its merger with Zenith Industrial Corporation.
Corp has entered into an agreement, dated as of September 23, 2010 (the “Cargill Acknowledgement Letter”) with Xxxxxxx, Xxxxxxxxxxxx and its affiliates (collectively, “Cargill”), which provides that upon payment (the “Cargill Payment”) of $2,800,828 (plus accrued and unpaid interest on such amount as of the date of payment pursuant to the agreement, dated January 14, 2009, by and between BFE Corp. and certain of its affiliates and Cargill (the “Cargill Settlement Agreement”)) from the Offering Proceeds, Cargill shall forgive the remaining Payable (as defined in the Cargill Settlement Agreement) in exchange for shares of Series A Convertible Preferred Stock in an amount equal to the amount of the remaining Payable, which amount shall be converted into Series A Convertible Preferred Stock at a conversion price on an as converted to Common Stock basis equal to the average of the volume weighted averages of the trading prices for the prior ten (10) day trading period of the Common Stock, ending on the second trading day immediately preceding the date the Series A Convertible Preferred Stock is issued. BFE Corp. hereby agrees that it shall not breach, violate or terminate the Cargill Acknowledgment Letter. BFE Corp. agrees that it will not amend, waive or modify the Cargill Acknowledgement Letter without the written consent of Greenlight.
