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11-28-2012, 11:48 AM
  #79
cbcwpg
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Lets assume the following happens:

1- Jamison and the current council sign the lease
2- Jamison buys the team from the NHL
3- The team as owned by Jamison starts playing

Now based on the following from the lease agreement:

19.1 Team Owner Remedies.
19.1.1 For City Default. Following a City Default, the Team Owner shall, in addition to all other remedies at law and in equity, have the right to seek compensatory damages, but not indirect damages or punitive damages (which are in any event prohibited against the City under Arizona law), arising out of such City Default


19.2 Arena Manager Remedies.
19.2.2 For City Default. Following a City Default, the Arena Manager shall, in addition to all other remedies at law and in equity, have the right to seek compensatory damages, but not indirect damages or damages punitive (which are in any event prohibited against the City under Arizona law), arising out of such City Default.


What is the worst that can happen to the CoG if the newly appointed council decides at some time in the future they just don't want to pay Jamison the AMF? Would the compensatory damages be equal the the total AMF that Jamison was to receive over the 20 years or is it less? What if the CoG claims BK?

Just wondering what happens if the new CoG council just decides to not honor the agreement at some future time.

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