PSL/Club Seat Default Letter
Cutting and pasting this from another message board. Just wondering if anyone else got this.
Jets Stadium Development LLC (“JSD”) has made repeated attempts to collect payment of amounts due under your Personal Seat License Agreement (the “Agreement”), including an invoice by mail and reminders by telephone and/or e-mail. As you have not made payment in response to those efforts, this letter serves as JSD’s notice of default, pursuant to Section 9 of the Agreement. Section 9 provides that if you do not cure this default by making payment within ten (10) days of the date of this letter, your rights under the Agreement will terminate, in which case:
JSD will retain all monies you have paid to date related to your PSL (including any deposit);
Your obligation to pay the outstanding balance of the PSL and any liability under the Club Seat License Agreement (if your PSL relates to Club Seats) shall be accelerated, making the full outstanding balance immediately due and payable, which JSD intends to fully enforce and collect;
YOU WILL HAVE NO FURTHER RIGHTS UNDER THE AGREEMENT (i.e., you will not have the right to purchase tickets to Jets games at MetLife Stadium); and
JSD will have no further obligation to you for the above referenced account(s).
If your Agreement relates to Club Seats, your Club Seat License Agreement also will terminate automatically, and you will remain liable to JSD for the Club Seat License Fees, pursuant to Section 9 of the Club Seat License Agreement.
You may cure this default by making a payment at newyorkjets.com/myjetsaccount, over the phone or by sending a check to the address below, in all events within ten (10) days of the date of this letter. If you have recently made a payment towards your PSL account, please contact a New York Jets Client Relations Representative at (800) 469-JETS (5387) to ensure receipt of payment and that your account is in good standing.
JSD expressly reserves any other rights and remedies that it may have in the enforcement of the Agreement and, if applicable, your Club Seat License Agreement.