STATEMENT OF BACKGROUND. A. CAM is a management company affiliated with CAI that, among other things, performs management and administrative services for CAI and its affiliates.
STATEMENT OF BACKGROUND. A. Forestar Petroleum is the owner of certain real property located in Xxxxxxx, Coweta, Douglas, Harris, and Heard Counties, Georgia, subject to certain timber rights held by Forestar (USA) on such real property.
STATEMENT OF BACKGROUND. In January, 1988, the Company was formed by its management team and Shearson Xxxxxx Brothers, Inc. ("Shearson") to acquire the smokeless tobacco division of Lorillard, Inc. ("Lorillard"), which was accomplished in April, 1988. As part of that transaction Lancaster financed on behalf of the Company the acquisition of Lorillard's inventory, and as part of that transaction entered into an Agreement for (i) Financing Purchase of Tobacco Inventory, (ii) storage of Tobacco, (iii) Purchase of Tobacco to meet Processing Requirements, and (iv) Processing Tobacco dated April 26, 1988 (the "Original Lancaster Agreement"). As part of recapitalizations and refinancings in 1992 and 1996, the Company and Lancaster restated and amended in its entirety the Original Lancaster Agreement in accordance with amended and restated agreements dated as of April 14, 1992 (the "Amended Lancaster Agreement") and May 17, 1996 (the "Second Amended Lancaster Agreement"), respectively. The Company is again recapitalizing and refinancing (the "1997 Recapitaliza tion") as part of its acquisition of the stock of NATC Holding USA, Inc., a Delaware corporation (the "Zig Zag(R) Acquisition"). Part of the Company's 1997 Recapitalization involves the Company purchasing from Lancaster the Tobacco owned and financed by Lancaster for the Company's use, and Lancaster releasing the security interests previously granted to Lancaster by the Company to secure the financing by Lancaster of its Tobacco purchases. In connection therewith, the Company and Lancaster have agreed to amend and restate in its entirety the Second Amended Lancaster Agreement.
STATEMENT OF BACKGROUND. A. CDLM LLC is the owner of approximately 500,616 acres of forestland real property located in Greenbrier, Nicholas, Fayette, and Xxxxxxxx Counties, West Virginia; Buckingham, Nelson, Albemarle, Cumberland, Appomattox, Amherst, Bedford, Campbell, Franklin, Pittsylvania, Halifax and Charlotte Counties, Virginia; Charleston, Clarendon, Dorchester, Colleton, Hampton, Jasper, Berkeley, Williamsburg, Orangeburg, Georgetown, Bamberg, Barnwell and Allendale Counties, South Carolina; Chattahoochee, Clay, Harris, Marion, Meriwether, Quitman, Randolph, Stewart, Talbot, Xxxxxx, Xxxxxxx Counties, Georgia; and Barbour, Chambers, Xxx, Xxxxxxx and Tallapoosa Counties, Alabama;
STATEMENT OF BACKGROUND. X. Xxxxxx has made a loan (the “Loan”) to BP3-SF6 1900 ADLP LLC, a Delaware limited liability company (“Landlord”), which is evidenced by one or more promissory notes (collectively, the “Note”) made by Landlord to order of Lender and is secured by, among other things, a mortgage/deed of trust/debt to secure debt, security agreement, assignment of rents and leases and fixture filing (the “Security Instrument”) made by Landlord for the benefit of Lender covering the land (the “Land”) described on Exhibit A attached hereto and all improvements (the “Improvements”) now or hereafter located on the Land (the Land and the Improvements hereinafter collectively referred to as the “Property”).
STATEMENT OF BACKGROUND. In consideration of the mutual agreements and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties to this Agreement hereby agree as follows:
STATEMENT OF BACKGROUND. On July 31, 2000 Borrower, Agent, and the Lenders party thereto entered into that certain Second Amended and Restated Credit Agreement, as amended by that certain First Amendment to Second Amended and Restated Credit Agreement dated as of August 20, 2001 by and among Borrower, the Lenders party thereto and Agent, that certain Second Amendment to Second Amended and Restated Credit Agreement dated as of March 29, 2002 by and among Borrower, the Lenders and Agent and that certain Waiver of Events of Default (the "Conditional Waiver Agreement") executed as of April 2, 2002 by and among Borrower, the Lenders and Agent (as amended, and as affected by the Conditional Waiver Agreement, the "Credit Agreement"). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement. Pursuant to the Credit Agreement the Lenders made a loan to Borrower (the "Loan"). The Loan is evidenced by the notes described on Exhibit A attached hereto and by this reference incorporated herein (collectively, the "Notes"). The Loan is secured by, among other things, the documents described on Exhibit B attached hereto and incorporated herein (collectively, the "Security Documents"; the Credit Agreement, the Notes, the Security Documents, and all other documents or instruments now or heretofore evidencing, securing or in any way relating to the Loan are sometimes hereinafter referred to collectively as the "Loan Documents"; and the real and personal property encumbered by the Loan Documents is hereinafter referred to collectively as the "Collateral"). As Borrower acknowledged in the Conditional Waiver Agreement, an Event of Default occurred under the Credit Agreement as a result of (a) the Borrower's failure to pay to Agent, for the benefit of the Lenders, the mandatory principal payment in the amount of $3,750,000.00 due on or before March 30, 2002 pursuant to Section 2.2(a)(i) of the Credit Agreement (the "Payment Event of Default") and (b) the failure of Grand Summit Resort Properties, Inc. ("GSRP"), a subsidiary of Borrower, to pay in full on its maturity sums due under that certain note dated August 20, 2001 to Colorado First/PCL, a Joint Venture (the "GSRP Default"; the Payment Event of Default and the GSRP Default are referred to collectively as the "Designated Events of Default"). Pursuant to the Conditional Waiver Agreement, Agent and the A/B Lenders waived (the "Waiver") the Events of Default under the Credit Agreemen...
STATEMENT OF BACKGROUND. Landlord and Tenant have entered into a certain lease (hereinafter referred to as the “Lease”), dated May , 2003, relating to the premises described in the Lease (hereinafter referred to as the “Premises”) which are described in, or are a part of the property described in Exhibit “A” attached hereto and by this reference made a part hereof. Lender has made a loan to Landlord in the principal amount of $7,000,000 secured by a mortgage or security deed (hereinafter referred to as the “Mortgage”) and an assignment of leases and rents from Landlord to Lender covering certain property described therein (the “Property”) including the Premises. Tenant has agreed that the Lease shall be subject and subordinate to the Mortgage held by Lender, provided Tenant is assured of continued occupancy of the Premises under the terms of the Lease.
STATEMENT OF BACKGROUND. A. Consultant has substantial knowledge, experience and expertise regarding the business of the Company. The Company desires to employ Consultant as an independent contractor to provide consulting and related services to the Company.
