My attorney says, “Please review carefully: it does appear we are close.”
Email on March 18th from First Americans legal counsel.
———- Forwarded message ———-
From: Leonard, Michael J. <leonardm@pepperlaw.com>
Date: Wed, Mar 18, 2009 at 2:41 PM
Subject: RE: Loansafe Solutions
To: xxxxxlaw.com>
Hi Mark,
Thanks for your correspondence. It looks like we are very close here. Please see my specific comments as set forth below.
Within 120 days of any agreement, LoanSafe Solutions will change its name, discontinue all use of terms incorporating LoanSafe Solutions and remove all content from the loansafesolutions.com web site. My client will agree that any new corporate name(s) it adopts will not include the LOAN and SAFE terms.
MJL: First American is requesting a 90 day phase-out period.
Administrative and ownership rights to the loansafesolutions.com domain name will remain with my client, but the site will not be used and shall remain dead.
MJL: Agreed.
First American will not object to or otherwise challenge my client’s use of the loansafe.org domain name as a forum for information about current events, so long as it does not have any direct links to Loan Safe Solutions (or its new name). The parties expressly agree that the loansafe.org website may continue to have advertising, banners and or other links to other sites, including service providers such as lawyers and accountants or to lists of various services providers, so long as they are not directed to any entity or website bearing the names “Loan” and “Safe”.
MJL: Agreed. However, First American wants any Agreement to include language making it clear that loansafe.org will only be used in connection with referral/advertising services and/or providing “free” information regarding “loan modification”. If loansafe.org is used to provide any commercial services directly related to the assessment or analysis of loan applications, such activity will be considered to be a violation of the agreement and will subject your client to payment of First American’s attorneys’ fees if it is required to pursue the matter to judgment in a court of law. By way of example, a banner for a law firm engaged in loan modification services would not be a violation. A link to a proprietary loan modification software tool offered by your client would be a violation of this Agreement.
My client will agree that news column labeled “Loan Safe Reports” contained in the loansafe.org website will be renamed within 30 days of any agreement so that it does not have both the terms “Loan” and “Safe.” The parties expressly agree that otherwise the nature and content of the column may remain the same
MJL: Agreed.
My client will agree not to use or seek registration of any other trademark/service mark, company/trade name or domain name consisting of or incorporating First American’s registered LOANSAFE trademark.
MJL: Agreed.
Each side will bear its own costs.
MJL: Agreed.
We have one additional term to add in that we will require the removal of the logo/wording “THE LOANSAFE NETWORK” from the loansafe.org web site. Please confirm this is not a problem
As soon as I receive your confirmation that the following terms are acceptable, I can begin drafting a suitable Agreement. If we need to have a further discussion, please let me know.
Regards,
Mike
Michael J. Leonard
Attorney at Law
Pepper Hamilton LLP
3000 Two Logan Square
Eighteenth and Arch Streets
Philadelphia, PA 19103-2799
215.981.4547 (direct)
215.689.4602 (direct fax)
leonardm@pepperlaw.com
My attorneys original email to First American’s legal counsel that garnished the response above.
xxxxxxlaw.com]
Sent: Monday, March 16, 2009 1:48 PM
To:Leonard, Michael J.
Cc: xxxxx; Moe
Subject: Loansafe Solutions
- Show quoted text -
Dear Mike:
Further to our conversation of last Thursday, I have had the opportunity to consult my client and discuss the matter further with Neil.
My client is prepared to enter into a settlement along the following lines.
Confidential Settlement Proposal
March 16, 2009
Within 120 days of any agreement, LoanSafe Solutions will change its name, discontinue all use of terms incorporating LoanSafe Solutions and remove all content from the loansafesolutions.com web site. My client will agree that any new corporate name(s) it adopts will not include the LOAN and SAFE terms.
Administrative and ownership rights to the loansafesolutions.com domain name will remain with my client, but the site will not be used and shall remain dead.
First American will not object to or otherwise challenge my client’s use of the loansafe.org domain name as a forum for information about current events, so long as it does not have any direct links to Loan Safe Solutions (or its new name). The parties expressly agree that the loansafe.org website may continue to have advertising, banners and or other links to other sites, including service providers such as lawyers and accountants or to lists of various services providers, so long as they are not directed to any entity or website bearing the names “Loan” and “Safe”.
My client will agree that news column labeled “Loan Safe Reports” contained in the loansafe.org website will be renamed within 30 days of any agreement so that it does not have both the terms “Loan” and “Safe.” The parties expressly agree that otherwise the nature and content of the column may remain the same
.
My client will agree not to use or seek registration of any other trademark/service mark, company/trade name or domain name consisting of or incorporating First American’s registered LOANSAFE trademark.
Each side will bear its own costs.
I am in the air today, and will be on the East Coast all week, but available by cell phone and email.
Please advise.
Mark