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Defined Terms? Fuhgeddaboudit!

In September 2016, the Oxford English Dictionary (“OED”) added the word “fuhgeddaboudit”, among others, as part of its quarterly update.  The term is defined as: “In representations of regional speech (associated especially with New York and New Jersey): ‘forget about it’, used to indicate that a suggested scenario is unlikely or undesirable.”  However, anyone who…
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Overlapping Time Periods in Contracts

Clients typically have a general understanding of what steps have to happen in what order in a deal. Sometimes, though, when that general understanding gets translated into specific words, things don’t always match up. Recently, the folks handling a $1.3 billion loan transaction for Chesapeake Energy ended up with words that didn’t match their expectations.…
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What is a Phantom Equity Grant?

A phantom grant is a contract right to receive a percentage of the sale proceeds upon the sale of the company. It tracks the value of the equity of the company, but is not equity. It does give them the “full value” of the company, unless drafted in a manner to exclude it.  The upside…
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Personal Information and Privacy Protection Act – New Jersey State

Personal Information and Privacy Protection Act - New Jersey State On September 15, 2016, the New Jersey Senate unanimously approved a bill that restricts the collection and use of personal information by retailers for certain purposes.  The bill is known as the “Personal Information and Privacy Protection Act.”  [https://legiscan.com/NJ/text/S1913/id/1419389/New_Jersey-2016-S1913-Amended.html]   The law provides that a retailer…
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