Up Tank

[kick69]

FACT:

Section 8. Termination

(a) The Occurrence of each of the following events shall constitute a "Termination Event"

(ii) the failure to comply with SEC Requirements set forth on the term sheet.FACT:

Section 9 Effect of Termination

Upon termination of this Agreement, all obligations hereunder shall terminate and shall be of no further force......

FACT:

Term Sheet (not official agreement as I proved earlier) Page 39
SEC Requirements

The company will within three business days of the Petition date, file amendment to its certificates on Form 15/A and all other necessary communications to effectivitly withdraw the Form 15 previously files by the Company on March 30,2012.FACT:

Petition Date = 6/15
Todays Date = 6/21 (essentially 4th BD)


Wow I must have gotten all this out of thin air since I did not read the material. O yes I should have been one of the first ones to read it and then I would be special.

There may very well be somehing in the docs that I did not see that may say the signers can waive the termination or the SEC could have been sumitted and just not posted yet but that does NOT change my point where this situation or any one of the other required steps could be used at ANY TIME during the process to back out of the plan even after it is submitted on the 30th.