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Message: Banosser

Re: Banosser ... Deb...

in response to by
posted on Nov 06, 2007 06:05PM

7.6 Public Announcements. From the date hereof until the earlier of the Termination Date or the termination of the Commercialization Agreement, TPL and Patriot agree to consult with each other before (a) issuing any press release,
(b) making any public statement with respect to this Agreement or the transactions contemplated hereby (including, without limitation, with respect to the consideration to be paid pursuant to this Agreement or any license agreement pursuant to the Commercialization Agreement), or (c) making any SEC filing, and, except as may be required by Applicable Law, will not issue any such press release or public statement without the prior consent of the other party hereto. In the event a party determines that a public statement is required by Applicable Law, prior to making such statement or filing it shall provide to the other party a copy of such proposed statement or filing at least two Business Days prior to making such statement or filing and shall make such changes as may be reasonably requested by the other party. With respect to any SEC filing pursuant to Patriot's obligations under the Exchange Act or otherwise, Patriot shall give TPL at least five Business Days advance notice of such filing (except to the extent compliance with applicable law shall require a shorter period of advance notice), and shall provide TPL a copy of the proposed filing for TPL's review and comment, including all exhibits thereto, for purposes of determining whether to make a confidential treatment request with respect to any exhibit related to the transactions contemplated by this Agreement. Patriot agrees to make all requests for confidential treatment reasonably requested by TPL and consult with TPL regarding the requirement to make such a filing. Notwithstanding the foregoing, the parties may, on a confidential basis, advise and release information regarding the existence and content of this Agreement or the transactions contemplated hereby to their Representatives in connection with or related to the transactions contemplated by this Agreement.

My first question that comes to mind is, did Turley consult with Leckerone before issuing this mornings webcast PR?  If so, Leckerone may have come to the conclusion today (inadvertantly after it was issued) that a quiet period was advised at this time, and requested it be cancelled.  Perhaps Turley forgot to clear it first... and Leckerone decided to sit on him.. doubtful.   

Or a major event may indeed be taking place.. but I for one doubt very much that it would be due to negotiations breaking down, after just 3 days...  Negotiations may be heated, but it appears all parties want this litigation to end.

Have a good one Deb...

 

 

 

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