SUMMARY OF TRANSACTION. The information in this Article 1 is a summary of the lease transaction between LESSEE and LESSOR. It is set forth for the convenience of the parties only and will not be deemed in any way to amend, detract from or simplify the other provisions of this Lease.
SUMMARY OF TRANSACTION. In consideration for an amount of 33,000,000 (Thirty three million) shares of Common Stock of the Company and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Claimholder hereby sells to the Company the mining claims more particularly described in Exhibit A hereto and more commonly referred to as the Yaba Silver Mine (the “Property”) upon the terms and conditions set forth in this Agreement.
SUMMARY OF TRANSACTION. In consideration of the respective ownership interests in the Company through issuance of 24,400,000 (Twenty Four Million Four Hundred Thousand) restricted shares of the Company's Common Stock referred to herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, hereby sells to the Company all of its right, title and interest in, to and under the unpatented lode and placer mining claims known as the Oatman Gold Project and more particularly described in Exhibit A hereto upon the terms and conditions set forth in this Agreement. Sellers collectively hold a 37.5% (Thirty seven and one half) undivided interest in the 22 (Twenty two) unpatented placer claims included in the Oatman Gold Project and designated as unpatented placer claims in Exhibit A, and such interest is hereinafter referred to as the "Property".
SUMMARY OF TRANSACTION. The following is a summary of the sale transaction between BUYER and SELLER. It is set forth for the convenience of the parties only and will not be deemed in any way to amend, detract from or simplify the other provisions of this Sale Agreement.
SUMMARY OF TRANSACTION. As of the Closing Date, Owner will hold fee title to certain land parcels (the "Land Parcels") and condominium apartments (the "Condominium Apartments"), the location of which is set forth in Exhibit B hereto and the improvements thereon (such Land Parcels, together with all easements and appurtenances thereto, and the improvements located thereon and the Condominium Apartments, the "Properties"). The Properties, and Owner's rights and interest therein or in connection therewith, will be subject to the lien and security interest of the Deed of Trust and the Mortgage as security for the Notes.
SUMMARY OF TRANSACTION. On and after the Closing Date (as defined herein) and pursuant to the terms and conditions and for the consideration outlined below, Assignor hereby assigns to Assignee all of Assignor's right, title, and interest under the Master Lease; provided, however, that the Assignment contemplated herein is subject to and conditioned upon the Master Landlord and the Assignee agreeing to and executing the Second Amendment to the Amended and Restated Lease Agreement that is acceptable in both form and substance to the Assignee and Master Lessor in their discretion (the "Comenity Amendment"). For the avoidance of doubt, the Assignment, the Closing (as defined herein) and the Closing Date shall not occur unless and until the Comenity Amendment is agreed and executed by the Master Landlord and the Assignee. Any security deposit presently on account with the Master Landlord will be refunded by Master Landlord to Assignor (to the extent not previously applied by the Master Landlord). Except as agreed in writing by the Master Landlord (including, without limitation, in the Comenity Amendment), Assignee hereby recognizes and acknowledges that the Master Landlord's rights to full performance of all terms, conditions and covenants of the Master Lease remains in effect on and after the Closing Date. Except as agreed in writing by the Master Landlord (including, without limitation, in the Comenity Amendment), Assignee assumes all of the terms, conditions and covenants of the Master Lease as lessee thereunder on and after the Closing Date. Subject to the payment of the Cure Payment (as defined below), Assignee does not assume any obligations as lessee under the Master Lease prior to the Closing Date, including, but not limited to, any Additional Rent (as defined in the Master Lease) allocable to the period occurring prior to the Closing Date. Further, pursuant to section 365(f) of the Bankruptcy Code, on and after the Closing Date, Assignor and the Debtors shall be relieved from any liability for any breach of or default in performance of the Master Lease, and Assignee shall indemnify and hold Assignor and the Debtors harmless from any breach of the Master Lease or default in the performance of any terms, conditions and covenants contained in the Master Lease occurring after the Closing Date. The Master Landlord has agreed to accept from Assignee the payment of $ (the "Cure Payment"), in full satisfaction of Master Landlord's claims against Assignor and the Debtors for monies due and owing but not paid under the Master Lease, and the Cure Payment together with the Assignment hereunder shall relieve the Assignor and the Debtors of all liability arising under the Master Lease on account of such sums due and owing but not paid. In addition, the Assignor shall remit payment prior to Closing for its share of all outstanding property taxes, owing and accrued but not yet due, as of the Closing Date.
SUMMARY OF TRANSACTION. On and subject to the terms and conditions of this Agreement, Buyer agrees to purchase all of the Lawriter Interests from the Members and each Member agrees to sell, transfer and assign to Buyer all of its Lawriter Interest for the consideration specified below in this Section 2.
SUMMARY OF TRANSACTION. Purchasers Certain of the Plan Sponsors, each Designated Entity, or anyaffiliate to be identified or assignee or transferee allowed in accordance with this term sheet and such other entities mutually agreeable to the Plan Sponsors and the Designated Entities (collectively, the “Purchasers”). Allocations among the Purchasers: Designated Entities $185,000,000 Plan Sponsors $200,000,000 and as further set forth on Annex I attached hereto (subject to adjustment as set forth the Letter Agreement). Issuer The Reorganized Greektown Holdings, L.L.C. or such other successor entity upon emergence from bankruptcy as designated by the Plan Sponsors.Guarantors All domestic subsidiaries of the IssuerType of Transaction 144A Senior Secured Note Offering of $385,000,000 13% fiveyear senior secured notes (the “Senior Secured Notes”) with customary registration rights for similar offerings issued since January 2009. Each Senior Secured Note shall be issued as either a Series A or Series B Note at the sole discretion of the Purchaser thereof as set forth on Annex I attached hereto; provided that, prior to the approval and payment of any commitment fees with respect to the Series A Notes, any Purchaser may elect to change its commitment to purchase Series A Notes to an election to purchase Series B Notes in the same original principal amount and vice versa. Each series shall have identical features other than as set forth in the Commitment Fees and Issue Price sections below.Purpose Proceeds of the Senior Secured Notes shall be used to repay, in full, together with the proceeds of the rights offering (as contemplated in the Purchase Letter2), all existing indebtedness that is required to be paid upon emergence from bankruptcy
SUMMARY OF TRANSACTION. Pursuant to an amendment to the Amended SPA, the Fund would be issued shares in exchange for an investment of up to $10 million (or such other amount in the sole discretion of the Fund so as to cause the investment to equal less than 25% of the outstanding common shares), no par value, of Middlefield (“Common Shares”) issued and outstanding on a pro forma basis, at a price to be determined as set forth below, assuming that there are 1,771,687 MBCN current shares issued and outstanding. We expect the Fund’s pro forma ownership of Common Shares to be no more than 24.99% of the issued and outstanding Common Shares as of the effective time of the closing of the Subsequent Investment (as hereafter defined).
SUMMARY OF TRANSACTION. SEE EXHIBIT B.