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2018-293A
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2018-293A
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Last modified
1/4/2021 3:18:03 PM
Creation date
1/11/2019 9:40:19 AM
Metadata
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Template:
Official Documents
Official Document Type
Lease
Approved Date
12/18/2018
Control Number
2018-293A
Agenda Item Number
11.A.
Entity Name
Verotown, LLC
Subject
Amended and Restated Facility Lease Agreement
MLB will purchase membership interest
Recorded BK 3175, PG. 1082
Area
Historic Dodgertown
Alternate Name
Major League Baseball
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ARTICLE IX <br />DOCUMENTS AND CERTIFICATES <br />Section 9.01. Documents and Certificates. Subject to the provisions of Section 3.04, <br />each party shall supply to the other such documents and certificates as are reasonably available <br />or procurable, and necessary for any purpose reasonably related to the obligations of the parties, <br />including, but not limited to, the County's funding or administration of this Agreement and <br />ownership of the Facility, or to consummate the transactions or objectives described in this <br />Agreement. <br />ARTICLE X <br />DEFAULT / REMEDIES <br />Section 10.01. Verotown's Default. The occurrence of any one or more of the following <br />material events in this Section 10.01 shall constitute a "Default" by Verotown under this <br />Agreement: <br />(a) Failure by Verotown to observe or perform in any material respect any <br />covenant, agreement, condition, or provision of this Agreement, if such failure continues <br />for thirty (30) days after written notice thereof has been delivered by the County to <br />Verotown; provided, however, that Verotown will not be in Default with respect to <br />matters which cannot reasonably be cured within thirty (30) days so long as within such <br />thirty (30) day period, Verotown commences such cure and diligently proceeds to <br />complete the same thereafter. However, in no event shall a cure period for a Default <br />continue for more than three hundred sixty-five (365) days; <br />(b) The levy upon, under execution or the attachment by legal process, <br />Verotown's interest hereunder, or the filing or creation of a lien in respect of such <br />interest, which levy, attachment, or lien is not released, discharged or bonded against <br />within one hundred eighty (180) days from the date of such filing; <br />(c) Verotown is finally adjudicated insolvent or bankrupt or admit in writing <br />their inability to pay its debts as they mature, or make an assignment for the benefit of <br />creditors, or apply for or consent to the appointment of a trustee or receiver for Verotown <br />or for the major part of its property; <br />(d) A trustee or receiver is appointed for Verotown or for the major part of <br />their property and such trustee or receiver is not discharged within one hundred eighty <br />(180) days after such appointment; or, <br />(e) Bankruptcy, reorganization, arrangement, insolvency or liquidation <br />proceedings, or any other proceedings for relief under any bankruptcy law, or similar law <br />for the relief of debtors, are instituted by or against Verotown, and, if instituted against <br />27 <br />
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