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re: **Official Midnight Madness Thread**
Posted on 10/13/12 at 8:55 am to Cheese Grits
Posted on 10/13/12 at 8:55 am to Cheese Grits
quote:
In default the bondholders are first in line. Since that is little old ladies with blue hair in the bluegrass that means UK will own YUM before UL. I therefore tend to doubt your observation.
Section 47, the "Right of Tenant" clause in the lease defaults to UofL if the Arena Authority defaults. UofL has the right of first refusal, before the bondholders. It was written in under the guise that UofL didn't want to be left out in the cold in a worst case scenario.
This is the best layman's explanation I can find on my phone at the moment.
LINK
And thank you for referring to me like I'm uneducated. Because that doesn't reek of elitist bullshite too. And with that I am actually done with the conversation.
This post was edited on 10/13/12 at 8:57 am
1
Posted on 10/13/12 at 10:38 am to BluegrassBelle
Thanks for the link
Look at it this way....
Arena (Jim Host and Co)= first line
bondholders (bluehairs and KY teachers pension) = second line
University (UL / CAF) = third line
“… before the Mortgagee may solicit or consider any unsolicited offers to purchase the Arena, Tenant will have a period of 90 days after the date on which the Mortgagee acquires title to the Arena to give notice to the Mortgagee that it will purchase the Arena at the price that is sufficient to retire … all then outstanding Arena Bonds …”
a) this means the bondholders are first in line
b) they will not be beholden to UL as UL's interest conflicts with their own
c) in default bondholders have the best rights, why do you think people by bonds over stocks in the first place?
This looks like proof positive that the bondholders are in line before UL as I stated before. If you think these debt holders will accept pennies on the dollar before exerting their rights is insane. Look at the financial meltdown in 2008 as shareholders were wiped out but the bondholders got the assets to sell for repayment.
I gave you credit for being educated on sports matters but I called you out on bigger picture issues because your passion does not seem as intense or broad. Again you say I am elitist as tho education and elitism is one in the same. I can assure you it is not. I come from a line of southern dirt farmers who worked damn hard for very little. A person can go to school and major in partying or go to work and learn on their own by reading and learning in their off time. I know a bunch of Louisville rich folks that never worked for a thing and they are dumber than a bag of hammers. Living on trust funds and the party life is the sign of elitist to which you keep insulting me by to by making the statements you do.
You degrade to name calling, bad language, and running away so who is taking the educated approach? Congrats, you just went below a dumb county boy. Either you are dumber or you should ask for your money back from the school you got your degree from.
Look at it this way....
Arena (Jim Host and Co)= first line
bondholders (bluehairs and KY teachers pension) = second line
University (UL / CAF) = third line
quote:
LINK
“… before the Mortgagee may solicit or consider any unsolicited offers to purchase the Arena, Tenant will have a period of 90 days after the date on which the Mortgagee acquires title to the Arena to give notice to the Mortgagee that it will purchase the Arena at the price that is sufficient to retire … all then outstanding Arena Bonds …”
a) this means the bondholders are first in line
b) they will not be beholden to UL as UL's interest conflicts with their own
c) in default bondholders have the best rights, why do you think people by bonds over stocks in the first place?
This looks like proof positive that the bondholders are in line before UL as I stated before. If you think these debt holders will accept pennies on the dollar before exerting their rights is insane. Look at the financial meltdown in 2008 as shareholders were wiped out but the bondholders got the assets to sell for repayment.
I gave you credit for being educated on sports matters but I called you out on bigger picture issues because your passion does not seem as intense or broad. Again you say I am elitist as tho education and elitism is one in the same. I can assure you it is not. I come from a line of southern dirt farmers who worked damn hard for very little. A person can go to school and major in partying or go to work and learn on their own by reading and learning in their off time. I know a bunch of Louisville rich folks that never worked for a thing and they are dumber than a bag of hammers. Living on trust funds and the party life is the sign of elitist to which you keep insulting me by to by making the statements you do.
You degrade to name calling, bad language, and running away so who is taking the educated approach? Congrats, you just went below a dumb county boy. Either you are dumber or you should ask for your money back from the school you got your degree from.
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