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 of the respective ownership interests in the Company through issuance of 28,000,000 (Twenty eight million) 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 1/4 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. SEE EXHIBIT B.
SUMMARY OF TRANSACTION. This term sheet (this “Term Sheet”) describes a proposed restructuring (the “Restructuring”) for Six Flags, Inc. (“SFI”), Six Flags Operations, Inc. (“SFO”) and Six Flags Theme Parks, Inc. (“SFTP”) and certain of SFTP’s domestic subsidiaries (the “SFTP Subsidiaries”; together with SFI, SFO and SFTP, the “Debtors”) pursuant to joint plans of reorganization (collectively, the “Plan”) which would be filed by the Debtors in connection with a contemplated chapter 11 filing. Subject to the satisfaction or waiver of the conditions described below, the Restructuring described herein is supported by the steering committee of lenders (the “Steering Committee Lenders”)
(1) party to the Second Amended and Restated Credit Agreement dated as of May 25, 2007 (as amended, the “Credit Agreement”) among SFI, SFO and SFTP, JPMorgan Chase Bank N.A., as administrative agent (the “Agent”), the Steering Committee Lenders and the other lenders parties thereto (collectively, the “Lenders”). This Term Sheet does not include a description of all of the terms, conditions
(1) The Steering Committee Lenders are JPMorgan, Beach Point Capital, Davidson Kempner Capital Management LLC, Xxxxx Xxxxx Management, Sankaty Advisors LLC, Taconic Capital Advisors and Silver Point Capital, L.P. and other provisions that are to be contained in the Plan and the related definitive documentation governing the Restructuring. The Plan will provide for the restructuring of the Debtors’ balance sheets. Except for the Credit Agreement obligations (and swap obligations secured ratably therewith, collectively the “Credit Agreement Obligations”), all claims against or interests in SFTP and the SFTP Subsidiaries (collectively, the “SFTP Debtors”) will be unimpaired. The Credit Agreement Obligations will be impaired and each holder thereof will receive distributions equal to its Credit Agreement Obligations claims comprised of its ratable share of the New Term Loans (as defined below) and shares of New Common Stock (as defined below) for the balance of such claims. SFO will retain its equity in SFTP and the holders of SFO general unsecured claims, including the SFO Notes,(2) shall receive, in the aggregate, shares of New Common Stock having a value equal to the residual enterprise value of the SFTP Debtors after satisfaction in full of the claims against them (including the Credit Agreement Obligations). SFI shall retain its equity interests in SFO and holders of general unsecured claims against SFI, including t...
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. In consideration of a 9.99% ownership interest in the Company through issuance of the Company’s shares of Common Stock and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Claimholder hereby sells to the Company the unpatented lode mining claims known as the Bxxxx Gold Project and more particularly described in Exhibit A hereto (the "Property") upon the terms and conditions set forth in this Agreement.
SUMMARY OF TRANSACTION. The Shareholder owns 63,783 common shares (the “Shares”) of Island Heritage Insurance Company, a Cayman Island insurance company (the “Company”). The Buyer wishes to acquire the Shares from the Shareholder on the terms set forth in this Agreement. In consideration of the mutual covenants, representations, warranties, and agreements hereinafter set forth, and intending to be legally bound hereby, and in order to set forth the terms and conditions of the Buyer’s acquisition of the Shares, the parties agree as follows:
SUMMARY OF TRANSACTION. This term sheet (this “Term Sheet”) describes a proposed restructuring (the “Restructuring”) for FairPoint Communications, Inc. (“FairPoint Communications”), and each of its direct and indirect subsidiaries (collectively, “FairPoint” or the “Company”) pursuant to a joint plan of reorganization (the “Plan”) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). The Plan would be filed in connection with FairPoint’s contemplated chapter 11 cases. Subject to the satisfaction or waiver of the conditions described below, the Restructuring described herein is supported by the steering committee of lenders (the “Steering Committee Lenders”)(1) party to the Credit Agreement dated as of March 31, 2008 (as amended, the “Credit Agreement”) among FairPoint Communications, Northern New England Spinco Inc. (“Spinco”), Bank of America, N.A., as administrative agent (in such capacity, the “Agent”),(2) the Steering Committee Lenders and the other lenders party thereto (collectively, the “Lenders”), and certain other parties thereto. This Term Sheet does not include a description of all of the terms, conditions and other provisions that are to be contained in the Plan and the related definitive documentation governing the Restructuring. The term “Consenting Lenders” as used herein shall mean collectively the Steering Committee Lenders and any other Lenders that, with the Company’s consent, subsequently become party to that certain Plan Support Agreement, dated as of October 25, 2009 (the “PSA”). The term “Effective Date” as used herein shall mean the date on which the definitive documents for the Plan become effective in accordance with their terms.
SUMMARY OF TRANSACTION. A. The Acquisition Transaction
(a) that number of units of BFGC (“Units”), currently expected to be 54,600,000, that will result in the Barrick Parties holding shares of common stock representing 15.9% of the total number of issued and outstanding shares of capital stock in BFGC on closing of the Transaction or 19.9% of the capital stock on a fully diluted basis (including, for greater certainty in each case, the Units issued to the Augusta Group pursuant to the Financing Transaction), where each Unit is comprised of (i) one share of common stock in BFGC (the shares of common stock issued as part of such Units collectively referred to as the “Acquisition Consideration Shares”), and (ii) one whole warrant (“Warrant”) which entitles the holder thereof to purchase one share of capital stock in BFGC at an exercise price of $0.30 for four years from the date of closing of the Transaction, with the allocation of the Acquisition Consideration Shares as between the Barrick Parties and/or any affiliate thereof to be determined by the Barrick Parties and provided to BFGC prior to closing;
(b) a 2% net smelter returns royalty granted to the Barrick Parties on all minerals produced from the Mining Claims; provided that the 2% net smelter returns royalty granted to the Barrick Parties on any individual Mining Claim shall be reduced to the extent necessary to ensure that the net smelter returns royalty payable to the Barrick Parties when aggregated with any pre-existing royalty on such Mining Claim results in an aggregate maximum net smelter returns royalty payable in respect of such Mining Claim of not more than 5.5%, subject to a minimum 0.5% net smelter returns royalty granted to the Barrick Parties (the “NSR”); and
(c) certain investor rights, including antidilution rights with regard to the Acquisition Consideration Shares in the event BFGC issues additional shares of capital stock or securities convertible into shares of capital stock (the “Antidilution Rights”). The Antidilution Rights and other investor rights are further described in Section D under the heading “Investor Rights Agreement”. Restrictions on Resale under Securities Act:The Barrick Parties acknowledge that the securities to be issued in the Acquisition Transaction will be restricted securities under the Securities Act of 1933, as amended (the “Securities Act”), and may not be resold unless pursuant to an effective registration statement under the Securities Act or an available exemption therefrom. ...
SUMMARY OF TRANSACTION. 1ARTICLE Field result goes here SUMMARY OF TRANSACTION
