Sycamore Networks, Inc. (fka SCMR)

[Enterprising Investor]

Sycamore Networks Completes Sale of Tyngsborough Land (12/08/15)

On 12/04/15, Sycamore Networks, Inc. completed the previously disclosed sale of approximately 102 acres of undeveloped land located in Tyngsborough, Massachusetts owned by the Company to Princeton Tyngsborough Commons LLC pursuant to a Purchase and Sale Agreement, dated October 10, 2014, as amended, for a total purchase price of $2.5 million.

Certain representations and warranties under the Purchase Agreement will survive the closing until February 29, 2016. Pursuant to the Purchase Agreement, under no circumstances will the Company be liable to Buyer for more than $75,000 in the aggregate for any breaches of such representations and warranties.

In connection with the closing of the sale of the Tyngsborough Land, certain transactions under the previously disclosed Settlement Agreement with respect to (i) the complaint filed by Franklin Equities, LLC and FE Potash 100, LLC (together, the “Plaintiffs”), abutters of the Tyngsborough Land, in the Land Court Department of the Trial Court of the Commonwealth of Massachusetts against the Company and Charles McAnsin Associates, A Limited Partnership (the “Tyngsborough Litigation”) and (ii) certain other litigation to which the Company was not a party were consummated, including the disbursement of settlement funds to the Plaintiffs, the filing of a stipulation of dismissal of the Tyngsborough Litigation in the Land Court Department of the Trial Court of the Commonwealth of Massachusetts and the recording of the termination of a Reciprocal Easement Agreement, dated as of November 23, 1998, by and between predecessors-in-title of the Plaintiffs and the Company as owners of certain real property (including, in the case of the Company and its predecessor-in-title, several lots constituting the Tyngsborough Land) and a new easement agreement between the Company and the Plaintiffs, pursuant to which each party granted the other certain rights of use and access with respect to the Tyngsborough Land, with the Middlesex North Registry of Deeds in Middlesex County, Massachusetts.

http://www.sec.gov/Archives/edgar/data/1092367/000119312515397863/d40206d8k.htm