Long Beach and Washington Mutual agree that the agreements contained in paragraphs (b) and (c) above are an integral part of the transactions contemplated by this Agreement, that without such agreements Washington Mutual would not have entered into this Agreement, and that such amounts do not constitute a penalty. If Long Beach fails to pay Washington Mutual the amounts due under paragraph (b) above within the time periods specified in paragraph (c) above, Long Beach shall pay the costs and expenses (including legal fees and expenses) incurred by Washington Mutual in connection with any action, including the filing of any lawsuit, taken to collect payment of such amounts, together with interest on the amount of
Long Beach. Long Beach’s current surface and use easements will be exchanged for relocated easements which include:
Long Beach. (A) is a solvent entity and is paying its debts as they become due and (B) after giving effect to the transfer of the Home Equity Loans, will be a solvent entity and will have sufficient resources to pay its debts as they become due.
Long Beach. Marketplace The borrower has a right to obtain a release of a portion of the Mortgaged Property which is improved by a movie theater, subject to certain conditions including that: (i) the remaining portion of the Mortgaged Property comply with all applicable legal requirements, (ii) be subdivided into a separate tax parcel, (iii) benefit from any necessary appurtenant easements, (iv) the --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- ANNEX A-1 ID # MORTGAGE LOAN EXCEPTION --------------------------------------------------------------------------------------------------------------------- released portion of the Mortgaged Property be conveyed to a person other than the borrower, and (v) the lender receives payment of its costs and expenses in connection with such release. The lender did not underwrite any income attributable to the portion of the Mortgaged Property which may be released. --------------------------------------------------------------------------------------------------------------------- 245 Xxxxxx Line The sole tenant has the right to purchase the Mortgaged Property from the borrower under the following circumstances: (1) if the tenant's continued use of the Mortgaged Property is no longer economically feasible and the tenant intends to cease a substantial portion of its operations at the Mortgaged Property; (2) after a condemnation, the borrower may (or under certain circumstances, is required to) purchase the Mortgaged Property - in such case, the borrower is deemed to have accepted the tenant's offer unless the borrower delivers a written rejection of the offer; (3) after a tenant default under the lease, as one of borrower's remedies, the borrower may accept tenant's deemed offer to purchase; or (4) after a tenant default under the lease, the lease guarantor is deemed to have made an irrevocable offer to purchase the Mortgaged Property, and the borrower is deemed to have accepted this offer unless the borrower delivers a written rejection of this offer to the lease guarantor, which rejection is countersigned by the lender. With respect to these purchase options (or deemed offers to purchase), in the SDNA, the tenant has agreed to give concurrent notice to lender upon the occurrence of the purchase offer and to pay the lender directly if the lender acc...
Long Beach in its capacity as Servicer, hereby makes the representations and warranties set forth in Schedule IIIC hereto, and by this reference incorporated herein, to the Depositor and the Trustee, as of the Closing Date, or if so specified therein, as of the applicable Cut- off Date.
Long Beach. 8. Redondo Beach
Long Beach. Long Beach’s current surface and use easements will be exchanged for relocated easements which include: • Surface Use Rights for Present Facilities. There are approximately 30 abandoned oil xxxxx and eight active xxxxx owned by Long Beach shown on Exhibit B. Long Beach will quitclaim its general right of access to the surface of the land in exchange for POLA granting surface right easements to the eight active xxxxx. • Future Drilling Areas. Long Beach owns the surface rights to several areas totaling approximately 548,000 square feet at Berth 200 which are reserved for future drilling. POLA will grant new areas shown on Exhibit C, which will encompass a smaller overall area of approximately 325,000 square feet. Due to advancements in technology, a 1:1 replacement is not necessary.
Long Beach. Vendor's Principal Place of Business (State) In what state is Vendor's principal place of business located? NY
Long Beach. The Company is also a party to litigation filed in November 2006 by a tenant in a Company property located in Long Beach, California. The tenant filed suit against the Company and certain affiliates, claiming the Company and its affiliates failed to provide adequate valet parking at the property pursuant to the terms of the lease with the tenant. After a six-week trial, the jury returned a verdict in October 2008, finding the Company liable for compensatory damages in the amount of approximately $7.8 million. In addition, the trial court awarded the tenant attorney’s fees and expenses in the amount of approximately $1.5 million. The Company filed motions for a new trial and for judgment notwithstanding the verdict, both of which were denied. The Company strongly disagrees with the verdict, as well as the denial of the post-trial motions. As a result, the Company appealed the verdict. In July 2010, the Court of Appeals entered an order affirming the jury verdict. The Company is currently reviewing its options with regard to any further opportunities to appeal the verdict. Schedule 4 Intentionally Omitted SCHEDULE 5
