FIFTH STATUS REPORT REGARDING ORDER GRANTING PLAINTIFF'S MOTION TO AMEND TURNOVER ORDER AND APPROVE PRIVATE FORECLOSURE SALE

EDWARD J. DAVILA, District Judge.

Plaintiff, Jack in the Box Inc., provides this Status Report regarding the Order Granting Plaintiff's Motion to Amend Turnover Order and Approve Private Foreclosure Sale (the "Order")(Docket Item 116). Capitalized terms not otherwise defined herein shall have the meaning ascribed to those terms in the Order.

On May 19, 2014, the Court entered the Order approving and authorizing a private foreclosure sale (the "Sale") of the GECB Collateral by GECB to Plaintiff pursuant to the terms of the APA. The APA conditioned the closing of the Sale upon Plaintiff's satisfactory completion of a due diligence review and additionally contemplated a closing on or before October 1, 2014. Due to unanticipated developments in this case, Closing has not occurred and Plaintiff and GECB have agreed to extend the Outside Date for Closing on more than one occasion. Plaintiff has notified the Court of such amendments by filing prior Status Reports with the Court.

On August 28, 2015, this Court entered its Order vacating all pretrial dates, discovery cutoff dates, expert disclosures and trial dates pending the Court's ruling on Jack in the Box, Inc.'s Summary Judgment Motion (Docket No. 266). Pending the Court's ruling on the Summary Judgment Motion, Jack in the Box has not committed the substantial resources required to complete both its diligence review and a closing of the Sale. Accordingly, as permitted by the APA approved by the Court, Plaintiff and GECB have again agreed to extend the Outside Closing Date, as defined in the APA, to January 31, 2016. JIB retains the right to terminate the APA until five calendar days prior to Closing. Plaintiff has again agreed to make monthly payments, retroactive to August, 2014, to GECB in the amount of $50,000 (the "Interim Payments") until the earlier of July 31, 2015 or the actual Closing. The Interim Payments will reduce the principal obligation owing from the Defendants to GECB and will reduce the Purchase Price.