City of Chicago Approval Letter for 350Green, LLC Ownership Transfer to Car Charging Group, Inc.
Contract Categories:
Business Finance
›
Modification Agreements
Summary
The Chicago Department of Transportation (CDOT) approves the transfer of ownership of 350Green, LLC to Car Charging Group, Inc. (CCG) and confirms that this transfer will not be considered a default under the existing Grant Agreement. However, 350Green remains in default under the agreement, and this approval does not resolve those defaults. For CCG to fully assume 350Green's interests without default, the Grant Agreement must be amended as specified in its terms.
EX-10.4 7 f8k042213ex10iv_carcharging.htm LETTER OF APPROVAL FROM CITY CHICAGO f8k042213ex10iv_carcharging.htm 
Exhibit 10.4
CHICAGO DEPARTMENT OF TRANSPORTATION
CITY OF CHICAGO
March 1, 2013
John Pierce
DLA Piper
701 Fifth Ave., Suite 7000
Seattle, WA 98104
| Re: | First Amended and Restated Grant Agreement Between the City of Chicago ("City") and 350Green, LLC ("350Green") |
Dear Mr. Pierce:
You have notified the City's Department of Transportation (CDOT) of your client 350Green's intent to transfer the ownership of 350Green to Car Charging Group, Inc. ("CCG"). CDOT approves this change in ownership, and will not consider it an Event of Default under Sec. 8.1(G) of the Grant Agreement.
As you know, 350Green is in default of the Grant Agreement. (See Notice of Default of June 14, 2012). This approval in change of ownership does not cure or obviate 350Green's events of default under the Grant Agreement in any way. In order for CCG to acquire 350Green's interests under the Grant Agreement free from default, the City will need to amend the Agreement pursuant to Sec. 9.4(B).
| Very trul yours, | ||
| | /s/ Gabe Klein | |
| Gabe Klein | ||
| Commissioner Chicago Department of Transportation |
| cc: | Amy K. Maliza Office of the General Counsel CarCharging, Inc. 1691 Michigan Ave., Suite 601 Miami Beach, FL 33139 |
30 NORTH LASALLE STREET, SUITE 1100, CHICAGO, ILLINOIS 60602
