Motion Picture News (Mar-Apr 1923)

April 7, ip2 3 1647 PARCEL 37: • Common shares of Aliens Vancouver Theatre, Limited — Three hundred and twenty-one thousand nine hundred dollars par value (3,219 shares) of the Common capital stock of Aliens Vancouver Theatre, Limited. The Allen Theatre owned by this Company is situate on leasehold land. The outstanding Common capital stock issue of Aliens Vancouver Theatre, Limited, is $700,000. (7,000 shares). Tenders will be received either — (a) For all parcels en bloc, in which case tenderers are required to state the amounts apportioned in their tenders for each of the parcels separately, or — (b) For parcels Nos. 11 to 36 en bloc, in which case tenderers are required to state the amounts apportioned in their tenders for each of the parcels separately, or — (c) For any parcel separately, The conditions in (a) and (b) above mentioned must be strictly observed and complied with. Where any parcel tendered for consists of shares, the tenderer must state the amount tendered by him for the parcel as a whole, and also the rate per share which is tendered for the shares comprising the parcel. Tenders for such parcels must be made by each tenderer subject to the conditions that the delivery to him of shares to the number of 10% more or less than the amounts mentioned in respect of any parcel or parcels tendered for will be accepted and paid for by the tenderer — should his tender be accepted — at the rate per share mentioned in his tender. Where a tenderer is unwilling to agree to this condition in respect of any specific parcel or parcels tendered for, he must so state in his tender. In all cases the purchaser will pay transfer taxes. If any tender for the purchase of all parcels en bloc or for the purchase en bloc of parcels Nos. 11 to 36 shall be accepted, then with such acceptance the purchaser must agree that failure or unwillingness on the part of the Vendor to deliver one-fifth in number or less of the parcels tendered for shall not relieve the tenderer from obligation to complete the purchase of the remaining parcels covered by the tender at the amounts apportioned therefor by the tenderer and stated in his tender, but the tenderer must bind himself to complete such purchase and pay the amounts apportioned in the tender for the parcels of which delivery shall be made. In respect of this condition a tenderer shall be at liberty, when making his tender, to state the specific parcel or parcels in respect of which he requires that delivery must be made if his tender is to be open to acceptance. Contracts for the rental of films have been made by the Estate of Allen Theatres, Limited, on behalf of theatres which are owned outright or controlled under lease by Allen Theatres, Limited, and also by subsidiary companies, control of the operations of which has rested in the hands of Allen Theatres, Limited, by reason of its holdings of the capital stock of such theatres. The successful tenderers, if any, for such theatres and/or shares must agree to assume and carry out such contracts. Information as to the assets and liabilities of subsidiary companies whose shares are offered in the above parcels, and as to the income and expenditures of such companies and of the theatres which are offered in the above parcels, will be furnished on application to the undersigned. The information so to be furnished will be that which has been made available to the Vendor. The Vendor will not be responsible for the correctness of such information but tenderers are required to satisfy themselves as to such assets and liabilities and income and expenditures. As to parcels Nos. 1, 2, 3, 4, 5, 12 and 13, the purchaser shall search the title at his own expense. The Trustee or Vendor shall not be required to furnish any abstracts or produce any deeds, declarations or any evidence of title except those in his possession. The purchaser shall have thirty days in which to make objection or requisition in respect of the title, and in case the purchaser shall within such time make any objection or requisition which the Trustee or Vendor shall from any cause be unable or unwilling to remove or answer, the Trustee or Vendor may rescind the sale, in which case the purchaser shall be entitled only to a return of the deposit money, without interest, costs or compensation. In the case of the sale of any of the leasehold properties above mentioned the Trustee or Vendor shall not be required to obtain the consent of the Lessor to the assignment of the lease. TERMS OF SALE— As to Parcel No. 1 : — Marked cheque for $5,000.00 must accompany tender; $10,000.00 to be paid within thirty days after the acceptance of the tender, and the balance in ten equal semi-annual instalments. Interest on deferred payments to be at the rate of 7% per annum. Deferred payments shall be secured by a mortgage upon the property in form satisfactory to the Trustee or Vendor. As tO Parcel No. 2: — Marked cheque for $1,000.00 must accompany tender; $4,000.00 additional to be paid within thirty days, and the balance at the rate of $2,000.00 per annum, with interest at 7%. Deferred payments shall be secured by mortgage upon the property in form satisfactory to the Trustee or Vendor. As to Parcel No. 3 : — Marked cheque for $1,000.00 must accompany tender; a further $1,500.00 to be paid within thirty days, and the balance at the rate of $2,000.00 per annum, with interest at 7%, secured by mortgage upon the property, in form satisfactory to the Trustee or Vendor. As to the Remainder of Parcels: — Marked cheque for 10% of the amount of tender must accompany each tender, and 15% additional of the amount of tender shall be paid in cash upon its acceptance. Where the purchase price of any parcel shall be $10,000. or less, the balance of such purchase price shall be paid in three, six and nine months with interest at the rate of 7% per annum, secured to the satisfaction of the Trustee. Where the purchase price shall exceed $10,000., the balance of such purchase price shall be paid in three, six, nine and twelve months, with interest at 7% per annum, secured to the satisfaction of the Trustee. Where tenders are made for the whole of the parcels en bloc or for parcels Nos. 11 to 36 en bloc, marked cheque for 10% of the amount of tender must accompany the tender and a further 15% of the amount of tender be paid upon its acceptance, and the balance of the purchase price shall be paid in six, twelve and eighteen months, or as may be otherwise arranged, with interest at the rate of 7% per annum and such balance shall be secured to the satisfaction of the Trustee. All taxes, insurance, water rates and similar items will be adjusted to the date of acceptance of tender, in respect of Parcels Nos. 1, 2, 3, 12 and 13. The sale of Parcels Nos. 1, 2, 3, 4, 5, 12 and 13 shall be completed not later than forty days after the acceptance of the tender by the purchasers. In respect of all other parcels above mentioned the purchase and sale shall be completed within ten days from the date of the acceptance of tender. In respect of Parcels Nos. 1, 2, 3, 12, 13, 14, 15, 16, 23, 24, 25 and 26 the respective purchasers must pay the costs of operating the theatre comprised in the parcel purchased and be entitled to the revenue from the date of acceptance of tender. Where the parcel sold shall consist of leasehold, the purchaser must take an assignment of the lease and indemnify Allen Theatres, Limited, and the Trustee from all liability thereunder from the date of acceptance of tender. Particulars and information relative to the interests of Allen Theatres, Limited, in Parcels Nos. 4, 5, 6, 7, 10, 11 and 36 will be given upon application to the Trustee, but the Trustee will not be responsible for the correctness of such information. A marked cheque, payable to the order of G. T. Clarkson, Trustee, for ten per cent of the amount of such tender, or for the amount as above otherwise specified, must accompany each tender, which cheque will be returned if the tender is not accepted and forfeited if the tender is accepted and not completed by the purchaser. The highest or any tender not necessarily accepted. Tenders will be opened at the office of the Trustee, 15 Wellington Street West, Toronto, at two o'clock p. m.,of Wednesday, April 25th, 1923, at which time all tenders will be considered. The Trustee reserves the right, however, to withhold acceptance or rejection of the tenders, or any of them, until four o'clock in the afternoon of Thursday, April 26th, 1923, in order to allow time for consideration of the tenders. Tenderers may at their option be present at such times. Further particulars may be had upon application to the Trustee. DATED at Toronto, this 12th day of March, 1923. G-. T. Clarkson, Trustee, of E. R. C. Clarkson & Sons, 15 Wellington Street West, Toronto. Starr, S pence & Fraser, 302 Bay Street, Toronto. Solicitors for the Trustee.