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Archive for October, 2011
Last Minute Halloween Activities in Highland Park
Looking for some Halloween fun? There are plenty of activities to enjoy for kids and adults in Highland Park this weekend.
Tags: Activities
BALTIMORE, Oct. 14, 2011 /PRNewswire/ — Branhaven LLC (Branhaven), as agent for the 12.5% secured note holders of MetaMorphix, Inc. and its affiliates identified on the enclosed notice of disposition of collateral (collectively, MMI), will conduct a secured creditors sale of certain assets of MMI at public auction on Thursday, October 20, 2011, beginning at 10:00 AM Eastern Time (the Public Sale). The Public Sale will occur at the law offices of Leitess Leitess Friedberg + Fedder PC, 10451 Mill Run Circle, Suite 1000, Owings Mills MD 21117 (the Public Sale Location). The enclosed notice describes the terms of sale.
Branhaven may include in the Public Sale certain technologies, licenses and agreements that are property of MMI (the Sale Items) and that serve as collateral for the obligations MMI owes to its senior secured creditors, the 12.5% note holders for whom Branhaven serves as agent. The Sale Items are briefly described in the enclosed notice.
No statements or information concerning the Sale Items have been authorized other than the information set forth herein, which information was compiled from the records of MMI. Accordingly, Branhaven makes no representations or warranties as to the accuracy or truthfulness of such information. Prospective bidders must conduct their own independent due diligence to determine whether they wish to bid on Sale Items, including independent review of public records. Branhaven has not authorized and does not make any representations concerning MMI, any partys rights in or obligations under the Sale Items, nor the estimated value of Sale Items. The underlying documents are available for inspection as stated above.
The Public Sale will be conducted as is, where is, with all faults. Certain sale items may be subject to monetary and/or nonmonetary obligations owed to contract counterparties. All parties interested in bidding on Sale Items are urged to conduct their own review and investigation of the relevant documents and records that are available as described above. All other statements regarding the Public Sale and the Sale Items, whether written or oral, are unauthorized and prospective bidders may not rely on them.
If you are interested in one or more of the Sale Items and wish to obtain more information, please contact Branhavens counsel, Steven N. Leitess, Esq., at the address for the Public Sale Location, above, or by telephone at (410) 581-7400. You may be required to sign and return a non-disclosure and confidentiality agreement prior to receiving access to any additional information related to the Sale Items.
NOTICE OF DISPOSITION OF COLLATERAL
Branhaven LLC (Secured Party), as agent for the holders of senior secured notes issued by MetaMorphix, Inc., MMI Genomics, Inc., MetaMorphix International, Inc., MetaMorphix Canada, Inc. and MetaMorphix Holdings, Inc. (collectively, the Debtors) pursuant to a security agreement dated November 7, 2003 and related documents (collectively, the Security Agreement), and pursuant to Part 6 of the Uniform Commercial Code (UCC), the Debtors having defaulted on their obligations in the Security Agreement, will offer for sale, lease and/or license the property described below (the Collateral) to the highest qualified bidder for cash at a public auction in full or partial satisfaction of the Debtors obligations under the Security Agreement.
ABOUT THE DEBTORS: The Debtors were life sciences companies that developed and applied or licensed genomic technologies for use in various industries. For example, the Debtors assisted their livestock customers to produce higher quality, nutritious meat more efficiently. In healthcare, the Debtors discovered and licensed technologies to pharmaceutical companies that develop therapies for better management of metabolic and muscular degenerative diseases. The Debtors developed innovative products addressing all major livestock sectors including cattle, swine, poultry and aquaculture, and developed products that enhance the health of companion animals. Certain assets related to these activities are included among the Collateral being sold at public auction.
DATE OF PUBLIC AUCTION: Thursday, October 20, 2011 at 10:00 AM Eastern Time (the Auction Date).
PLACE OF PUBLIC AUCTION: Leitess Leitess Friedberg + Fedder PC, 10451 Mill Run Circle, Suite 1000, Owings Mills, Maryland 21117 (the Auction Location).
COLLATERAL SUBJECT TO AUCTION SALE IS DESCRIBED AS FOLLOWS:
1. Exclusive License agreement to develop and commercialize Myostatin Technologies.
2. Cross License with a major pharmaceutical relating to the research, development and commercialization of Myostatin Technologies for Human applications.
3. Collaboration agreement to research, develop and commercialize Myostatin.
4. Collaboration agreement to research, develop and commercialize Myostatin in the areas of human reproduction and contraception.
5. 3rd Party Testing service agreement.
6. License agreement in the areas of bovine genetics.
7. Research in the areas of bovine genetics.
8. Joint research agreement to develop future products in the field of genetic research with animal science.
9. Non Exclusive License to perform AM and NH testing for Bovine.
10. License agreement for the use of non-coding patents in order to commercialize applications of DNA/RNA based diagnostic assays for use in the livestock, aquaculture and companion animal industries.
11. License agreement granting access to the genomic database containing sequenced and assembled bovine, porcine and poultry sequence and identified certain SNPs for these genomes.
12. Property Lease agreement with sub-tenant.
In addition, and to the extent not previously disposed of, all of the Debtors (i) accounts; (ii) chattel paper; (iii) contract rights; (iv) documents; (v) general intangibles, including, without limitation, all rights to receive payment of money or property not constituting accounts under the UCC, whether under any contract, undertaking or arrangement or pursuant to any law, rule or regulation (including, without limitation, tax refunds, condemnation and damage awards, judgments, royalties and license fees), all trade secrets, proprietary information, trade names, copyrights, copyright applications, patent applications, patents, trademarks, trademark registrations, computer software, service marks and applications therefore and all other rights, interests and property generally understood to constitute intellectual property and all rights as licensor or licensee under intellectual property agreements; (vi) instruments; (vii) equipment; (viii) inventory; (ix) goods; (x) (to the extent not otherwise included in clause (vii) above) equipment, fixtures, furniture and furnishings now or hereafter located upon any real property of the Debtors, and used or usable in connection with any future occupancy or use of such property; (xi) deposits and any other indebtedness at any time held or owing by any bank to or for the credit or the account of the Debtors; (xii) claims or payments made under any insurance policy; (xiii) investment property (as defined in the UCC), including, without limitation, rights in investment securities, whether certificated or uncertificated and rights in securities commodities accounts; (xiv) interest of the Debtors in any goods, the sale or lease of which shall have given or shall give rise to, and in all guaranties and other property securing the payment of or performance under, any accounts, contracts, general intangibles or any chattel paper or instruments referred to above; (xv) all replacements, substitutions, additions or accessions to or for any of the foregoing; (xvi) (to the extent related to the property described above) books, files, records and other papers and documents, including, without limitation, to the extent so related, all tapes, computer runs, computer programs and other papers or documents in the possession or control of the Debtors; (xvii) (to the extent not otherwise included) all attachments, accessories, accessions, substitutions and replacements of or to any or all of the foregoing types of tangible Collateral; and (xviii) to the extent not otherwise included, proceeds and products of any and all of the foregoing.
TERMS OF SALE
GENERAL TERMS Secured Party reserves the right to (a) offer the Collateral as a whole, in parcels, or in any other commercially reasonable manner, (b) reject any bids, (c) postpone or adjourn the sale to such other time or times as Secured Party may deem proper, or (d) elect not to proceed with the sale. Any bidder wishing to examine Collateral that is proprietary or subject to trade secret or any other need for protection from disclosure may be required to sign a confidentiality and nondisclosure agreement. Additional terms or conditions may be announced on the Auction Date.
DEPOSIT In order to qualify to bid, all potential bidders must present for inspection by the auctioneer conducting the sale a $25,000 deposit in the form of an official bank check or otherwise immediately available funds, and (ii) such additional documentation as is required by Secured Party, in its sole discretion, with respect to the payment of the remainder of the purchase price. Successful bidders must deliver the deposit to Secured Partys authorized agent immediately upon acceptance of bidders bid.
PAYMENT CASH. The auction shall be to the highest qualified bidder for cash (or on terms acceptable to Secured Party in its sole discretion). Payment shall be made on the Auction Date by cash, certified or cashiers check or in accordance with terms acceptable to Secured Party, in its sole discretion. Secured Party may bid in all or a portion of the amounts owed by the Debtors to the Secured Party in payment for the Collateral.
SETTLEMENT Settlement on all purchases of Collateral shall occur at the Auction Location no later than ten (10) calendar days after the Auction Date. All costs of conveyancing shall be paid by the successful bidder. The Collateral shall be transferred by bill of sale without warranty. If settlement does not occur within ten (10) calendar days after the Auction Date then Secured Party may retain the deposit, treat the sale as canceled and resell the Collateral. The successful bidder shall bear the responsibility to secure possession of the property purchased after settlement. The proceeds from sale of the Collateral will be applied against the Debtors obligations to Secured Party in accordance with the Security Agreement and the UCC.
ALL WARRANTIES DISCLAIMED Sale of the Collateral is made AS IS without any warranties of any kind or representations by, or recourse on Secured Party. Sale is being made subject to any and all rights, defects, liens, encumbrances or adverse claims of whatever nature, that are superior to the lien of the Security Agreement. There is no warranty of title, possession, quiet enjoyment or the like in this disposition.
For questions relating solely to the auction sale described above
please call Steven N. Leitess, Esq. at (410) 581-7400.
SOURCE Branhaven LLC
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Tags: Items
Not even cancer can stop JR Ewing.
Dallas legend Larry Hagman who is set to reprise his iconic role in the upcoming TNT reboot has been diagnosed with a highly treatable form of the disease.
But according to TV Guide Magazine, Hagman still intends to report to work on Oct. 17 when production on the series resumes.
As JR, I could get away with anything — bribery, blackmail and adultery, Hagman said in a statement. But I got caught by cancer. I do want everyone to know that it is a very common and treatable form of cancer. I will be receiving treatment while working on the new Dallas series. I could not think of a better place to be than working on a show I love, with people I love. Besides, as we all know, you cant keep JR down!
Here are more of todays top TV news stories:
o Hold on to your hatches! Ben Linus and Charles Widmore are about to meet once more. EW.com reports that Lost alum Alan Dale will appear this fall on Michael Emersons new CBS series Person of Interest as member of the German Stasi secret police.
o Showtime has released a new preview of Kristen Bells new dark comedy House of Lies, making the wait until her much-anticipated TV return next January a little less painful. Watch the former teen sleuth in action below:
o Its official: Malcolm-Jamal Warner will return to NBCs Community this fall as Shirleys ex-hubby, and he has big plans for his rekindled love. According to TVGuide.com, Andre intends to re-tie the knot with the Greendale vet.
o HBO is turning the Oscar nominated The Kids are All Right into an hourlong drama series. The films director, Lisa Cholodenko, is on board to direct the pilot, per Deadline.
o Limp Bizkit frontman Fred Durst is set to star in a CBS comedy pilot which centers on a rock legend looking to balance his high profile lifestyle and his family, Deadline reports.
Which TVLine Items have you talking today?
Want Scoop and Spoilers Sent Directly to Your In-Box? Sign Up for the TVLine Newsletter Now!
Tags: Items
Wave Accounting Inc. has closed a $5 million Series A round of financing led by Charles River Ventures (CRV) and with the participation of OMERS Ventures. Wave intends to use funds for the continuous development of its free online accounting software for small businesses and marketing it internationally.
Wave eliminates manual data entry by importing transactions automatically from a users bank account or electronic statement, and then applies smart technology to make accounting fast and easy. Wave is 100% free for its customers, generating revenue by offering sophisticated, ultra-targeted advertising and group-buying opportunities. American Express, Dell and Grand amp; Toy are among several dozen advertising partners to date.
In May 2011, Wave Accounting closed a tranched $1.5 million seed financing with INKEF Capital, an investment joint venture funded by Stichting Pensioenfonds ABP (ABP) in the Netherlands and OMERS.
Tags: Financing
WEST LAFAYETTE, Ind. (WLFI) – Purdue Associate Dean of Students Pablo Malavenda was charged for the theft of household items, such as bedding, pumpkins and light bulbs.
According to a Wal-mart Asset Protection Associate, Malavenda entered the store and purchased several items in three different transactions. Then he exited the store.
Malavenda re-entered the store without the purchased items but with the receipts from those items.
He selected the same items he purchased previously and passed all registers without purchased those items.
The Asset Protection Associate instructed a store greeter to check the receipts. As Malavenda passed through the doors, the alarm sounded and the store greeter verified his receipts.
Malavenda then re-entered the store at a different entrance with the items he had not paid for. He used the original receipts to return the items he selected on his second visit to the store, totaling $160.17.
Malavenda received a refund, headed to the hardware area, and placed light bulbs into his bag. He passed the registers and left the store without purchasing them. Once outside Wal-Mart, Malavenda was then seen placing three pumpkins into a shopping cart and loading them into his vehicle.
Malavenda was then arrested on charges of Theft. In the process of being transported to jail, Malavenda asked why he was being arrested and Lt. Fohr replied that he knew what he did.
Malavenda was arrested on Saturday for shoplifting at the West Lafayette Wal-mart on US 52 and arrested on a preliminary charge of theft.
According to the Purdue salary database, Malavenda has a salary of $69,500 per year.
Purdue spokewoman Jeanne Norberg has confirmed Malavenda is on paid administrative leave, as of Monday and is working from home. She said the University should finish up its investigation by the end of the month.
Purdue Assistant Dean of Students Martia Brawner has been named interim Associate Dean while Malavenda is on leave.
Tags: Items
Venezuelan President Hugo Chavez has denied US media reports that he was rushed to hospital with kidney failure linked to his cancer treatment.
Im fine, Im having my first coffee of the day, Mr Chavez, 57, told state TV by telephone.
Mr Chavez, who had a fourth and final round of chemotherapy last week, urged Venezuelans to ignore such rumours.
The Miami-based Nuevo Herald newspaper had quoted hospital sources as saying he was in a serious condition.
In a telephone interview with VTV, Mr Chavez said reports about his health were untrue.
I ask the Venezuelan people to ignore these rumours. If anything happened, Id be the first person to tell you about any difficulty, he said.
Rumours about his health were aimed at creating uncertainty, Mr Chavez said.
Mr Chavez said his treatment was going well and that he is finished with chemotherapy.
He had surgery in June to remove a tumour that was later confirmed as cancerous.
However, the exact nature and severity of his cancer have not not been disclosed.
There has been speculation about whether he will be well enough to stand for re-election but Mr Chavez has said he will run in the October 2012 presidential poll.
Mr Chavez has secured repeated election victories since he first won the presidency in 1998.
Tags: Media Reports
SAN FRANCISCO, Oct. 3, 2011 /PRNewswire via COMTEX/ –
Feed-in-Tariffs (FiTs), Feed-in-Premia (FiPs), and Renewable Portfolio Standards (RPS) met through long-term power or premium contracts, lowered financing costs in case studies
Climate Policy Initiative (CPI)’s analysis of six large-scale renewable projects in the United States and Europe found that policies can deliver the largest reductions in project financing costs by providing long-term revenue support, offering revenue certainty, and reducing investor perceptions of risk. CPI identified specific ways in which policies affected the cost of finance for these projects and estimated the size of these effects by modeling a range of policy scenarios for each project. The analysis found that:
Duration of revenue support that is shorter by 10 years (with a raised level of support to maintain investor interest) increases financing costs by 11-15% of the cost of electricity.
Compared to a fixed-price revenue support (such as a FiT or RPS met with power purchase agreements), a premium over market prices that delivers the same returns to equity investors (through FiP or fixed-price Renewable Energy Certificates) increases financing costs by 4-11% of the cost of electricity.
Higher perceived risk – modeled using equity returns at the high end of industry expectations – increases financing costs by 3-9% of the cost of electricity. A range of factors can contribute to this perceived risk, from policy credibility to technology risks.
“Our financial modeling tool quantifies the impact of specific policies on the cost of finance,” said David Nelson, Senior Director of Research and Programs at CPI. “This tool can help policymakers understand the impact of their renewable energy policy decisions on real world projects.”
CPI used publicly available information and industry estimates to analyze a mix of mature and innovative solar and wind projects in the U.S. and Europe. All of the projects studied required policy support to attract sufficient investment. However, the types of incentives available to U.S. and European projects differed significantly. The U.S. projects made use of multiple, smaller incentives, most of which were cost support policies borne by taxpayers, such as tax incentives. European projects relied mostly on revenue support policies borne by ratepayers, such as feed-in-tariffs and feed-in-premia.
CPI also explored the question of how renewable projects can attract low-cost capital:
The risk inherent in the construction and operation of innovative projects is of great concern to investors, particularly debt providers. Without long-term debt financing, costs for the innovative U.S. solar power tower project we studied would have increased by 38% of the cost of electricity. Policies such as government loans and guarantees can help remove this barrier to affordable financing.
Institutional investors will invest in renewable projects if they have the expertise to evaluate these projects, are provided revenue certainty, and are insulated from policy and completion risks. Completion risks can be addressed by policy support or private contracts.
Climate Policy Initiative (CPI) is a global policy effectiveness analysis and advisory organization funded by George Soros. Its mission is to assess, diagnose, and support nations’ efforts to achieve low-carbon growth.
SOURCE Climate Policy Initiative
Copyright (C) 2011 PR Newswire. All rights reserved
Tags: Financing
Our goal is to achieve nationwide coverage by years end, said Andrew Ibbotson, president and CEO of Digital Assent. This financing helps us increase production of the PatientPad to meet the significant demand we are experiencing.
Tags: Financing
Online retailers outside the state might get more pressure to collect sales taxes on purchases made by Pennsylvania residents.
Gov. Tom Corbetts administration is expected to soon announce strategies to collect taxes on items sold online and at brick-and-mortar stores outside the state. An announcement is expected in the next four to six weeks.
Tags: Items
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