ATA HOF Lease Questions?

Attention attorneys out there or those with more knowledge about leases.

When the state of Illinois closes Sparta will they have broken the lease agreements?

If they close Sparta does the clock on vacating start ticking now or was the ATA and HOF notified earlier and when?

Would a new lease have to be negotiated with the State?

Do we have any delegates capable of asking these questions?

What is the legal application?

 

I'm guessing now but I would say that if the HOF is on that land it also will be closed.

 

I'd wait until after tomorrows meeting before you get your hopes up.

 

What do I have to gain Leonidas? Do you have the answers? Please post.

 

The satisfaction that the ATA failed for one.

BUT read H1N1's post about the meeting for your answers.

 

Leonidas

Where is that answered? And how do I gain something if the ATA fails? Please post anything you have on the subject that is factual about the op.

 

A virus will be posting?

 

From the ATA's perspective, pretty much. The lease with the ATA is clearly broken as a matter of law if the facility is unavailable at the next moment of performance owed under the lease. Next year's Grand rolls around and the gates are locked, you got yourself a breach.

Given that business requires planning and expenses and businesses can't be left in unfavorable positions, the actions of a party prior to a breach can signal to a party that waiting until the breach actually occurs is foolish, as the other party is taking current steps to effect a breach. Such a condition is called a prospective breach. You got yourself a lease for an apartment starting in six months, but Steve Wynn just bought the apartment complex and is bulldozing it to put up a new casino. You don't have to wait until the start of the lease. You got yourself a good prospective breach. If Steve hands you $1,000 and says "sorry for knocking down your pad," you got yourself an efficient breach, that's one that's good for everyone.

A party to a contract is not allowed to threaten the other party's interests under the contract. If you signal you're going to breach, causing the other party to fear for its interests due under the contract you're breaching, and the other party is allowed to re-enter the market to ensure its contract needs are met by someone else.

A prospective breach needs a good argument. The ATA has a phenomenal argument, as page after page on the Internet and story after story in the press all say Rauner is closing the money-loser. The ATA has every right to protect itself by booking Clark County for the Grand in October, 2016.

 

I would really like to know if the State would be bound by the contract with the ATA if the State is in declared bankruptcy ..? I do not know but cannot imagine there would not be an escape clause hidden in the lease agreement to protect the State from prosecution if they terminate the lease for good cause or reasons beyond their control ... The State has the best attorneys money can buy (no pun intended) as well as the best contract managers working on their side, so there may be a few surprises yet to come ... My wife was a contract manager (negotiator) for a Major Banking Instituion, she saved the Company hundreds of millions of dollars over the years in buy outs and disalution of many contracts for a specific reason or several reasons in the small print ... This could get interesting, the Pro's have ways ... WPT ... (YAC) ...

 

I did not see anything in the lease but you look and see.

 

There is no bankruptcy chapter for a state to declare bankruptcy. States can simply stop paying obligations, and there is very little recourse. A state's general obligation bond rating would plummet, but what can you do to a state? You can't sue a state unless the state agrees to be sued, so you can't do something like buy McHenry County at a Trustee's sale.

 

Ken,
To many ifs. ands, and butts for a common man to make any sense of, that's why they had people like my wife breaking them down and going back at them ... She used to ger bonus's that were more than a lot of people make every year for her perfomance ratings ... WPT .... (YAC) ...


smoking357,
So in a round about way it would be pretty much the samething if the State does not or did not respond ..? I cannot imagine what the Bond rating would be with the State in such as shambles as they are right now ... Oh wll, have to wait and see ... ( I got banned, so I had to wipe a tear lol), some clown over there threatened me and I invited to him come on over (that was a threat and selective enforcement) ... WPT ... (YAC) ...

 

Can we get a $250,000 HOF Refund?

GB DLS

 

He threatened you and he did not get Banned, That is selective Banning

Sounds like a N1H1 goings on, I know


Gary Bryant Dr.longshot


GB DLS

 

Family Guy,

From what I am reading in the Lease Agreement with the THOF, the clock starts ticking AFTER either party gives "Written Notice" of desire to terminate.

I am not a lawyer but it seems straight forward to me.

Open attachment and go to Pg. 12 ~~~ #23 d

 

Can a Life Member File a Lien on the HOF Bldg for $250,000?


GB DLS

 

Has any written notice been given by either party?


Gary Bryant Dr.longshot

 

Doc, didn't they take away most of a life memebr's rights a few years ago ?

Don't know about Written notice, but a whole lot of Rumor Notice....

 

Exercising that written option is terminating the contract under the contract.. Using a contract provision, even to terminate the contract, is not a breach. Breach is an action that occurs exclusive to the contract.

 

Then the moment the complex is closed the HOF lease / contract has been breached?

 

Any person can file a law suit against anyone or any organization for damn near anything in the world today ... The problem is the cost to pursue it and wait for the legal system to get around to you ... If the members rights would of been argued and litigated back when it happened there is a remote possibility that "past practice" and just "reason for cause" could of been used as a means (arguement) to try to retain those rights according to a friend who is a Life Member of the ATA and served as a Corp Legal Council for a Major Corporation for many years ... The subject has been discussed many times over a tall cool one and a burger, today it could (would) cost more than it would or could be worth to try to reverse it being as it was not resisted or argued at that time ...
Keith Miles (Really a GREAT GUY, "BIG HEAP") and I discussed the Members Rights that were taken away at length many times over the phone before he passed away, and he also checked into any possibility of getting it reversed ... The problem would be you would have to go back after the ones who changed it and then up (or ) down the ladder until today so it could be very costly and time consuming endevor ... The members of the ATA (US) would have to pay to defend a case brought against "Us" by "US" if you catch my drift, plus pay to initiate any and all actions against "US" ... (now, I'm confused) ... I agree that you hide nothing if you have nothing to hide ( that says a lot, if you think about it), so it don't make much sense to take away something that was an understood part of the Life Membership when it you signed up ... Not what you would call a benefit package like they have today with the expenses paid etc ... Hang in there, its not over yet and we will survive ... The time comes for everyone to pay their DUE, thats the way it goes ... WPT ... (YAC) ...