In connection with the offering, the Company entered into a forward sale agreement (and, to the extent that the underwriters exercise their over-allotment option, the Company may, at its sole discretion, enter into an additional forward sale agreement) with an affiliate of J.
If the underwriters exercise their over-allotment option and the Company elects not to enter into an additional forward sale agreement with the Counterparty, the Company will issue and sell to the underwriters the number of shares of common stock in respect of which the over-allotment option is exercised.
If possible, the purchase and sale agreement should limit the sole recourse of the aggrieved party to the insurance policy.
The delay problem can best be addressed by bringing the insurance company into the transaction at the earliest possible date and providing it with copies of key documents, including a draft purchase and sale agreement.
According to the Purchase and Sale Agreement dated Oct.
Pursuant to a Purchase and Sale Agreement dated as of Aug.
Each forward sale agreement will be composed of twenty equal components.
25, in the case of the second forward sale agreement (the "forward floor price" for that forward sale agreement), the number of shares underlying such component;
The first forward sale agreement
settles beginning in March 2007 and the second settles beginning in March 2008.
The remaining net proceeds, and any proceeds received upon the settlement of the forward sale agreements
, will be used to reduce outstanding debt, make additional healthcare real estate investments, for working capital and other general corporate purposes.
Of those shares, a portion is being offered directly by Medical Properties Trust and the remaining shares are being offered in connection with forward sale agreements
among Medical Properties Trust and certain affiliates of the underwriters.
Westernbank agreed to discharge and terminate in full Doral's recourse obligations under the original mortgage sale agreements
(except for obligations with respect to certain representations and warranties made in the original mortgage sale agreements
, which will survive for a six month period following the closing of the restructuring agreement).