Monday, March 22, 2010

Upper Deck's Defaults (Debts) Under Previous MLBPA Agrement

Thanks to Upper Deck's website re-directing you to the complete MLBP vrs. Upper Deck Company court documents, we have these excerpts:  

Upper Deck's Defaults Under the License Agreements
42. In addition to its violations of the Upper Deck License Agreements discussed above, Upper Deck is also in default under those Agreements for failure to perform multiple terms and conditions prior to the expiration of the Agreements.

43. Those obligations include the failure to pay amounts in excess of $2,400,000 due under the Upper Deck License Agreements, specifically, Contract No. ML-2302H (the "Domestic Trading Card Agreement"), ML1-115B (the "International Trading Cards Agreement"), ML-4055C (the "Hall of Fame Trading Card Agreement"), ML3940B (the "Hall of Fame Authentication Program Agreement"), and ML-2949F (the "MLB Authentication Program Agreement"0

44. MLBP has demanded that Upper Deck pay these sums due but has not received any of the money owed.

45. MLBP has also identified the multiple other obligations of which Upper Deck is in default under the Upper Deck License Agreements, including in correspondence to Upper Deck dated December 1, 2009 and January 28, 2010. Upper Deck has not performed these obligations and remains in default of the Upper Deck License Agreements.

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