Phoenix LXIX: Thread of LXIX
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01-29-2013, 03:17 PM
Join Date: May 2010
Originally Posted by
One thing I'd like to ask of the brilliant minds here... Is there a possibility of a purchase agreement announcement but the consumation goes past Thursday. Does it fall into the scope of, or satisfy, the "Closing" date?
What I'm getting at is, and my copy of the Lease Agreement is not handy as I'm at work, an official purchase
can come tomorrow or Thursday regardless but if the agreement is not fully consummated after Jan 31, does that mean it didn't meet the "Closing" date? I'm assuming it doesn't but some guidance would be most appreciated.
Edit: Sorry Evil D... didn't see you posted similarly
Edit Edit: You too Whilee
It seems like they can't have a lot of loose ends by the Closing Date (January 31, 2013).
(a) The Arena Manager and the Team Owner shall have duly and timely performed and fulfilled in all material respects its duties, obligations, promises, covenants and agreements hereunder with respect to the period between the Effective Date and the Closing..
(b) The representations and warranties given by Arena Manager and the Team Owner to the City hereunder shall be true and correct in all material respects as of the Closing Date.
(c) The NHL Purchase and Financing Condition.
(d) All conditions to the consummation of the transactions contemplated under the NHL Purchase and Financing Condition shall have been satisfied or waived.
(e) The Related Agreements shall have been executed and delivered by the Arena Manager and the Team Owner.
(f) The Closing Date shall have occurred on or before January 31, 2013 (the “Outside Closing Date”), unless extended by the City.
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