Examples of Monticello Property in a sentence
The purchase price for the Property (the "PURCHASE PRICE") shall be Thirty-Five Million and No/100 Dollars ($35,000,000.00) in lawful currency of the United States of America, payable as provided in Section 3.3. The Purchase Price shall be allocated to the Real Property as follows: Monticello Property $12,750,000.00 Metroport Property $11,750,000.00 Landmark Property $3,750,000.00 Republic Property $6,750,000.00 No portion of the Purchase Price shall be allocated to the Personal Property.
L.C., Xxxxx Xxxxxx and Xxxxxx Xxxxxx each shall have conveyed to Empire all right, title and interest in any material assets, income, revenues, fees and rights related to gaming, the Monticello Property or any agreements with the Cayuga Nation of New York or other indian tribes or nations and retained in connection with the restructuring transaction that closed on January 12, 2004.
The Plan already contemplates that the Monticello Property will be sold for the benefit of Creditors and the remaining Assets could not be expected to be sold for significant amounts.
The parties hereby acknowledge and agree that certain approvals are necessary in order to pursue the development of a Class III indian gaming facility at the Concord Owned Property and at the Monticello Property.
During the Chapter 11 case, by order dated August 17, 2005, the Bankruptcy Court approved a sale of the Monticello Property to Vanguard Investors, LLC for a purchase price of $1,000,000, subject to certain adjustments.
Postpetition Financing – IMG DIP Loan By interim order dated October 19, 2005, the Bankruptcy Court authorized the Debtor to borrow up to $140,000 from IMG on an interim basis pending a total commitment of $380,000 (collectively with all other obligations under the Debtor in Possession Loan and Security Agreement between the Debtor and IMG, dated as of October 19, 2005, the “IMG DIP Loan”) to finance the Debtor’s operations pending the Debtor’s sale of the Monticello Property.
It is the preference of the parties that, subsequent to the Closing, (a) any Class III gaming facility to be developed by Empire or Newco on behalf of the Seneca Cayuga Nation be located on a portion of the Concord Owned Property, and (b) any Class III gaming facility to be developed by Empire or Newco on behalf of the Cayuga Nation of New York be located on a portion of the Monticello Property.
There is no pending or to Empire's Knowledge, threatened, condemnation of all or any material portion of the Monticello Property.
Under either a chapter 7 liquidation or the Plan, prosecution of the Causes of Action may require additional funding beyond the Debtor’s cash on hand or the cash expected to be generated from the sale of the Monticello Property.
The primary physical Assets of the Debtor that may be sold are the stock of MedPro, the Monticello Property and miscellaneous office furniture, software, artwork and other small assets.