tag:blogger.com,1999:blog-13652090.post7898743765848415647..comments2023-06-08T08:10:31.126-05:00Comments on Husker Mike's Blasphemy: Royals Agree To Ballpark in Sarpy County; Boondoggle Moves ForwardHusker Mikehttp://www.blogger.com/profile/05764508184267042143noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-13652090.post-45773233323364771122009-03-13T00:21:00.000-05:002009-03-13T00:21:00.000-05:00(b) Additionally, Sarpy County shall have the righ...(b) Additionally, Sarpy County shall have the right to terminate this<BR/>Agreement in the event that:<BR/>(i) Sarpy County determines in its sole discretion not to<BR/>proceed with the transactions contemplated by this Agreement prior to 5:00 pm<BR/>(Central Time) on June 1, 2009; provided that in the event that Sarpy County does<BR/>not exercise this termination right in accordance with the terms and conditions of this<BR/>Agreement by 5:00 pm (Central Time) on June 1, 2009, it shall not be entitled to<BR/>thereafter terminate this Agreement pursuant to this Section 2.3(b)(i);<BR/>(ii) the Required Approvals are not obtained by the ORoyals<BR/>prior to 5:00 pm (Central Time) on June 1, 2009; provided that Sarpy County shall<BR/>not be entitled to terminate this Agreement pursuant to this Section 2.3(b)(ii) if the<BR/>failure to obtain the Required Approvals is the result of a breach by Sarpy County of<BR/>its obligations under Section 2.1(a);<BR/>(iii) the aggregate proceeds received by the County from the<BR/>sale of the Bonds is less than the amount of proceeds proposed to be received by the County for such sale set forth in the Budget or, alternatively, Sarpy County<BR/>determines in advance of said sale that the market for the sale of the Bonds would<BR/>be insufficient to generate the proceeds expected, which determination shall be<BR/>confirmed by an opinion rendered by the Financial Advisor and delivered to the<BR/>ORoyals; or<BR/>(iv) Sarpy County and the ORoyals are not able to agree on<BR/>the identification and selection of the Stadium Site (as defined in Section 1.65) in<BR/>accordance with Section 5.1 prior to 5:00 pm (Central Time) on April 22, 2009.<BR/>(c) Additionally, the ORoyals shall have the right to terminate this<BR/>Agreement in the event that:<BR/>(i) the Required Approvals are not obtained by the ORoyals<BR/>prior to 5:00 pm (Central Time) on June 1, 2009; provided that the ORoyals shall not<BR/>be entitled to terminate this Agreement pursuant to this Section 2.3(c)(i) if the failure<BR/>to obtain the Required Approvals is the result of a breach by the ORoyals of its<BR/>obligations under Section 2.1(a);<BR/>(ii) Sarpy County and the ORoyals are not able to agree on<BR/>the identification and selection of the Stadium Site (as defined in Section 1.65) in<BR/>accordance with Section 5.1 prior to 5:00 pm (Central Time) on April 22, 2009;<BR/>(iii) Sarpy County has not entered into the Site Acquisition<BR/>Documents, in accordance with Section 1.65, with the owner of the Stadium Site, by<BR/>the later of: (a) 5:00 pm (Central Time) on June 1, 2009; or (b) seven (7) days after<BR/>the date that Sarpy County is notified that the Required Approvals have been<BR/>obtained by the ORoyals;<BR/>(iv) the aggregate proceeds received by the County from the<BR/>sale of the Bonds is less than the amount of proceeds proposed to be received by the<BR/>County for such sale set forth in the Budget and the County does not agree with the<BR/>ORoyals in writing to satisfy such shortfall within five (5) days of the closing of sale of<BR/>the Bonds; provided that the ORoyals shall be under no obligation to amend or<BR/>modify any of the terms or conditions of this Agreement in connection with the<BR/>County’s attempted satisfaction of such shortfall;<BR/>(v) Sarpy County breaches any of its representations,<BR/>warranties, covenants or obligations set forth in Section 6.2; provided that the<BR/>ORoyals have provided written notice of the alleged breach to Sarpy County and<BR/>provided Sarpy County has not cured such breach within thirty (30) days of receipt of<BR/>written notice thereof; or<BR/>(vi) the Professional Baseball Agreement terminates and a<BR/>similar agreement is not entered into between Major League Baseball and the<BR/>National Association and no comparable or successor arrangement is implemented<BR/>by Major League Baseball pursuant to which the ORoyals can continue operation in<BR/>the Stadium pursuant to this Agreement In the event that either party desires to terminate this Agreement in accordance with<BR/>Section 2.3, it shall provide written notice to the other setting forth a reasonable<BR/>description of the facts and circumstances giving rise to such termination.<BR/>Notwithstanding anything to the contrary set forth herein, in the event this Agreement<BR/>is terminated by Sarpy County pursuant to Section 2.3(b)(iii) or by the ORoyals<BR/>pursuant to Section 2.3(c)(iv) or (v), Sarpy County shall pay to the ORoyals an amount<BR/>equal to the sum of Two Million Dollars and 00/100 ($2,000,000) plus the amount<BR/>of the reasonable fees and expenses incurred by the ORoyals in connection with the<BR/>performance of its obligation under this Agreement prior to the date of termination,<BR/>which fees and expenses shall specifically include legal fees incurred, as well as the<BR/>amount of any Predevelopment Contribution made by the ORoyals prior to the date of<BR/>termination. The ORoyals shall provide supporting documentation for all fees and<BR/>expenses for which it is entitled to reimbursement hereunder.<BR/>Notwithstanding anything to the contrary set forth herein, in the event this Agreement<BR/>is terminated by Sarpy County pursuant to Section 2.3(b)(ii) or the ORoyals pursuant<BR/>to Section 2.3(c)(i), the ORoyals shall reimburse Sarpy County for the amount of the<BR/>reasonable fees and expenses incurred by Sarpy County in connection with the<BR/>performance of its obligation under this Agreement prior to the date of termination,<BR/>which fees and expenses shall specifically include legal fees incurred; provided,<BR/>however the maximum amount required to be paid by the ORoyals in connection with<BR/>such termination shall not exceed Two Hundred Fifty Thousand Dollars and 00/100<BR/>($250,000). Sarpy County shall provide supporting documentation for all fees and<BR/>expenses for which it is entitled to reimbursement hereundernickhttps://www.blogger.com/profile/16834767619524023545noreply@blogger.comtag:blogger.com,1999:blog-13652090.post-35040512283624008852009-03-13T00:11:00.000-05:002009-03-13T00:11:00.000-05:00Additionally, Sarpy County shall have the right to...Additionally, Sarpy County shall have the right to terminate this<BR/>Agreement in the evenSarpy County determines in its sole discretion not to<BR/>proceed with the transactions contemplated by this Agreement prior to 5:00 pm<BR/>(Central Time) on June 1, 2009; provided that in the event that Sarpy County does<BR/>not exercise this termination right in accordance with the terms and conditions of this<BR/>Agreement by 5:00 pm (Central Time) on June 1, 2009, it shall not be entitled to<BR/>thereafter terminate this Agreement pursuant to thist that Notwithstanding anything to the contrary set forth herein, in the event this Agreement<BR/>is terminated by Sarpy County pursuant to Section 2.3(b)(ii) or the ORoyals pursuant<BR/>to Section 2.3(c)(i), the ORoyals shall reimburse Sarpy County for the amount of the<BR/>reasonable fees and expenses incurred by Sarpy County in connection with the<BR/>performance of its obligation under this Agreement prior to the date of termination,<BR/>which fees and expenses shall specifically include legal fees incurred; provided,<BR/>however the maximum amount required to be paid by the ORoyals in connection with<BR/>such termination shall not exceed Two Hundred Fifty Thousand Dollars and 00/100<BR/>($250,000). Sarpy County shall provide supporting documentation for all fees and<BR/>expenses for which it is entitled to reimbursement hereunder.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13652090.post-56131491692827945302009-03-12T22:34:00.000-05:002009-03-12T22:34:00.000-05:00Define "positive", "good direction", and "bad one"...Define "positive", "good direction", and "bad one" for me. Those are your feelings and opinions. You're welcome to yours.Husker Mikehttps://www.blogger.com/profile/05764508184267042143noreply@blogger.comtag:blogger.com,1999:blog-13652090.post-85646277154692967452009-03-12T21:22:00.000-05:002009-03-12T21:22:00.000-05:00Can't be positive can you? This is going in a goo...Can't be positive can you? This is going in a good direction, not a bad one and you can't support it. Also, the Royals want to be here during the CWS, not away.Anonymousnoreply@blogger.com