Verified Document

Negotiating A Facility Rental Agreement As A Essay

Negotiating a Facility Rental Agreement As a facility operations manager, it is critical to first understand key legal issues in Stadium contracts. These contract could be ridden with pitfalls and liability characterized by shifting language, and other provisions, with serious legal consequences to the event sponsor. These facilities have provisions in their contract that specify terms of performance (rates, dates, space) and meant to protect the stadium as well as establish event sponsor's responsibility and liability.

It is a common procedure to sign a letter of intent with the facility and in this case, the Durham Bull's Stadium Facility Manager and General Counsel. The Letter of Intent must include all necessary contingency clauses that protect the New York Yankees, the Met's, Yankees and Major League Baseball's right to advance negotiations on mutual agreeable terms with the Durham...

However, this should be done after agreeing on the terms and conditions in the actual license.
One key area of negotiation is potential liability on both sides. A privately owned facility such as Durham Bull's Stadium should have much more latitude in the terms to which they can accept mutual indemnification clauses. It advisable for the New York Yankees, the Met's, Yankees and Major League Baseball's as the event sponsors and the Durham Bull's Stadium Facility Manager and General Counsel to agree on mutual indemnification. This is an agreement that both parties agree to defend and/or compensate the other party for asserted claims against, or liability damages incurred by, the other party due to the acts or omissions of the first party (Youngblood, 2010). It is also advised that discussions focus on insurance issues…

Sources used in this document:
Reference

Youngblood, H.D. (2010, August). Drafting And Enforcing Complex Indemnification Provisions. Retrieved November 13, 2012, from http://www.klgates.com/files/Publication/4fff23f1-3315-4425-b6ad-56e54bea55f0/Presentation/PublicationAttachment/fba1faaa-91de-4849-8a8f-6678e1cad2b2/Youngblood_Flocos_PracticalLawyer.pdf
Cite this Document:
Copy Bibliography Citation

Related Documents

How to Perform Valuations for Municipalities in South Africa
Words: 64599 Length: 254 Document Type: Dissertation

……South African Municipalities Municipal Revenue Loss Reduction through Improved Municipal Valuation Methodologies:Balance Sheet Enhancement of South African Municipalities to Improve Rates and Taxes Revenue GenerationAbstractThis study examines the property valuation process of Municipalities in South Africa and develops a strategy for strengthening that process in order to more efficiently value properties and ultimately to enhance municipal balance sheets and increase revenue streams. This study proposes an innovative valuation method based

Role of Land Settlement Cooperative
Words: 18921 Length: 70 Document Type: Term Paper

It is argued that while land tenure data can be instrumental in addressing land-related conflicts, much of the practical value is lost because of inconsistency of information and because information is not readily accessible, or cannot be combined to allow for greater depth of analysis. In practice, this means that policy-makers cannot make immediate use of the information that is available because additional time and expense are required either

Trade Show Industry in Germany
Words: 31155 Length: 113 Document Type: Dissertation

Significance of the Study This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections

Ticket Prices and Athlete Salaries Negatively Affected
Words: 3141 Length: 10 Document Type: Research Paper

TICKET PRICES AND ATHLETE SALARIES NEGATIVELY AFFECTED PROFESSIONAL SPORTS? Professional sports are a multi-billion dollar global industry and these events contribute a great deal to a nation's economic performance. As the global economy continues to recover from the lingering aftershocks of the Great Recession of 2008, though, the pressing issues of skyrocketing ticket prices and athlete salaries and how they have negatively affected professional sports have assumed new importance and

Regulation of the NFL From
Words: 10136 Length: 34 Document Type: Case Study

On the other hand, we might be able to "incubate" a cable network by playing a Thursday night series of cable games, and such a network could be a long-run success that would strengthen our product as well." (Tagliabue, 2004) Tagliabue states that prior to proceeding with a new package it is necessary to ensure that this new package is based on "sound television premises and that it is structured

Marketing and Economics Agricultural
Words: 18779 Length: 68 Document Type: Term Paper

Origins, History of the IMF The International Monetary Fund was first conceived between July 1-22, 1944, at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The conference was attended by representatives of 45 nations, which were called together in order to plan and lay the groundwork for a cooperative economic framework to solve global financial crises before they occur. One key reason for the conference was to

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now