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Microcap & Penny Stocks : Restaurant Teams International, Inc.-RTIN -- Ignore unavailable to you. Want to Upgrade?

To: TraderGreg who wrote (3248)	9/13/2000 11:09:49 AM
From: TraderGreg	Read Replies (2) \| Respond to of 3351

I stand here ready to do a mea culpa. Tom C. pointed out to me that the conditions for terminating the merger agreement require that the termination be done BEFORE the "Effective Time", the date that the agreement is filed with State Government offices. SECTION 7.1 Termination. This Agreement may be terminated and the Merger contemplated hereby may be abandoned at any time notwithstanding approval thereof by the Purchaser and Company, but prior to the Effective Time: and Effective time is defined in Article I: SECTION 1.2 Effective Time. The Merger shall be consummated by filing with the Secretary of State the Certificate of Merger in the form attached hereto as Exhibit "A" (the "Certificate of Merger") (the time of such filing being the "Effective Time"). So, it would now appear that RSI must PROVE that RTIN did not satisfy the terms of the agreement. The 51% burden of proof has shifted from RTIN to RSI... so the court case is still necessary. TG