file a motion
TRANSCRIPT
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File a Motion: 02-10109-JJF Fansteel Inc. and Richard Gladstein Nuclear Regaulatory Commission
Notice of Electronic Filing
The following transaction was received from Weaver, John R. entered on 10/4/2002 at 2:41 PM EDT and filed on 10/4/2002 Case Name: Fansteel Inc. and Richard Gladstein Nuclear Regulatory Commission
Case Number: 02-10109-JJF Document Number: 495
Docket Text: Motion for Relief from Stay or, Alternatively, for Adequate Protection. Receipt Number CC, Fee Amount $75. Filed by CitiCapital Commerical Corporation. Objections due by 10/25/2002. (Attachments: # (1) Notice of Motion# (2) Proposed Form of Order) (Weaver, John)
The following document(s) are associated with this transaction:
Document description:Main Document Original filename:N:/SCANS/FANSTEELMOT & EXHS.PDF Electronic document Stamp: [STAMP bkecfStampID=983460418 [Date=l 0/4/2002] [FileNumber=989841-0] [3ddce40c933a2382ffbd87a99f38b366b57af3aedfe4160a28 1bf56c84d2fa8634939 Oea9aa634accO3617efb40f40d66585d5d9db7375d42f5ae80706cba05e]] Document description:Notice of Motion Original fdename:N:/SCANS/FANSTEELNOM.PDF Electronic document Stamp: [STAMP bkecfStampID=983460418 [Date= 10/4/2002] [FileNumber=989841-1] [0d796e5ff5ad9c4b0e49e5365535efee49108157048857lb1f 8 1d02b5d2e6d5849387 73be446cd614ccl9709883c1b956dff099e0d424603e0c6bbdf81d57elf]] Document description:Proposed Form of Order Original fdename:N:/SCANS/FANSTEELORD.PDF Electronic document Stamp: [STAMP bkecfStamp.ID=983460418 [Date=l 0/4/2002] [FileNumber=989841-2] [2bl5e0dcf53f4b9b4lb538602de7ee59c036273bcble0305af986615901fb
6 e63 6 7 6 9
2d271 lb4d35f5d96048e795ea832a7fd7ee789a227ba4875536bcbb7ba3]]
02-10109-JJF Notice will be electronically mailed to:
Frank C Aiello [email protected],
Rhonda N. Baird [email protected], [email protected]
John D. Demmy [email protected],
Richard Mark Gladstein [email protected],
Matthew A. Gold [email protected]
James E. Huggett [email protected] '
Laura Davis Jones [email protected], 0, [email protected];[email protected];[email protected];[email protected]
10/4/02https://ecf.deb.uscourts.gov/cgi-bin/Dispatch.pl?389407490844727
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Carl N. Kunz III [email protected],
Adam G. Landis [email protected]
Kathleen P. Makowski [email protected]
Kevin J Mangan [email protected],
Bruce W. McCullough [email protected]
Emily Ann Miller [email protected],
Kathleen M. Miller [email protected], [email protected]
Kerri K Mumford [email protected]
Jeffrey N. Rich [email protected]
Rosalie L. Spelman [email protected]
William David Sullivan [email protected]
John R. Weaver [email protected]
Jan A.T. van Amerongen Jr. [email protected]
02-10109-JJF Notice will not be electronically mailed to:
Brad C. Epperly 3737 Woodland Avenue Suite 437 West Des Moines, 10 50266
Barbara K. Hamilton Becket and Lee LLP P.O. Box 3001 Malvern, PA 19355-0701
Elliott H. Herskowitz P.O. Box 626 Planetarium Station New York, NY 10024-0540
S. William Livingston Covington & Burling
Frederick S Phillips U.S. Department Of Justice P.O. Box 7611, Ben Franklin Station Washington, DC 20044
Sergio I. Scuteri Farr, Burke, Gambacorta & Wright 211 Benigno Boulevard P.O. Box 788
https://ecf.deb.uscourts.gov/cgi-bin/Dispatch.pl? 3 89407490844727 10/4/02
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Bellmawr, NJ 08099-0788
Robert Szwajkos 250 N. Pennsylvania Avenue Morrisville, PA 19067
Elizabeth Weller 2323 Bryan Street, Suite 1720 Dallas, TX 75201
10/4/02https://ecf.deb.uscourts.gov/cgi-bin/Dispatch.pl? 3 89407490844727
Hearing Date: TBD if necessary
Objection Deadline: 10/25/02 @ 4:00 p.m.
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In Re:
: CHAPTER 11 FANSTEEL, INC., et al.
: Case No. 02-10109 (JJF) Debtors
Jointly Administered
MOTION FOR RELIEF FROM AUTOMATIC STAY OR, ALTERNATIVELY, FOR ADEQUATE PROTECTION
NOW COMES CitiCapital Commercial Corporation f/k/a Associates Commercial
Corporation, by and through its LCA Division and Citicorp Vendor Finance, Inc. (collectively
"CitiCapital"), by its undersigned counsel, who, being duly sworn, moves the court for relief
from the automatic stay or, in the alternative, for adequate protection payments. The following
facts are offered in support of this motion:
INTRODUCTION 1. Movant, CitiCapital is a corporation organized under the laws of the State of
Delaware.
2. On January 15, 2002, ("Petition Date"), voluntary petitions were filed by the above
referenced debtors (collectively "Debtor") under 11 U.S.C. §§101-1330 (as amended,
the "Bankruptcy Code"). The cases have beenjointly administered.
3. The Debtor is acting in its capacity as debtor-in-possession.
JURISDICTION AND VENUE 4. This Court has jurisdiction over this matter pursuant to 28 U.S.C. §§157 and 1334.
This is a core proceeding pursuant to 28 U.S.C. § I 57(b)(2). The statutory predicates
for the relief sought herein is Sections 361 and 362 of the Code and Rule 4001 of the
Bankruptcy Rules.
5. Venue is proper in this Court pursuant to 28 U.S.C. §§1432 and/or 1473.
BACKGROUND
6. CitiCapital is the lessor on two (2) Lease Agreements entered into with the Debtor
(collectively the "Equipment Leases") for a lift truck, air compressor, air dryer, and
ancillary equipment (collectively "Equipment") as more particularly described below:
Exhibit Date Equipment Term Monthly Rental Due For A 1/16/98 (a) Ingersoll-Rand Air 60 $2,991.00 + 2/1/02
Compressor HPE400- $216.85 tax 2SOne; (b) Ingersoll-Rand Air Dryer TM 19000ne; (c) Ingersoll-Rand NLM Module NLM-5One; (d) Receiver 2180 Gallon Vert 165 PSIG
B 6/29/01 TCM Lift Truck Model 60 $398.07 + $23.88 2/1/02 FCB15A w/ attachments tax and accessories #A74R00722
Totals: $3,659.71
7. True and correct copies of the Equipment Leases and related documentation are
attached hereto as Exhibits "A" and "B", respectively.
8. Pursuant to the aforementioned Equipment Leases, the Debtor is obligated to, inter
alia, make monthly lease payments to CitiCapital (collectively, the "Monthly
Rental").
A
9. Pursuant to Uniform Commercial Code 9-505, CitiCapital filed financing statements
(UCC-ls) with the appropriate authorities, copies of which are attached to the
respective Equipment Leases (Exhibits "A" and "B").
10. The Debtor has no equity in the Equipment.
11. The Equipment is subject to depreciation or loss in value through normal use. It must
be regularly maintained to avoid additional loss in value from excessive wear and
tear.
15. Moreover, the Equipment is mobile, could be taken or damaged.
12. The value of the Equipment and CitiCapital's interest in it is declining from usage,
even if the Equipment is maintained in accordance with the manufacturer's
recommendations.
13. Since the Petition date, the Debtor has not returned any portion of the Equipment to
CitiCapital, resumed payments or moved to assume or reject any of the Equipment
Leases.
14. Upon information and belief, Debtor is using the Equipment to generate income for
its benefit and for the benefit of the unsecured creditors and to the detriment of
CitiCapital. Debtor, however, has not resumed payments to CitiCapital under the
Equipment Leases or otherwise provided or offered to provide CitiCapital with
adequate protection of its interest in the Equipment.
RELIEF REQUESTED 16. By this Motion, CitiCapital seeks the entry of an Order, pursuant to §362(d) of the
Bankruptcy Code and Rule 4001 of the Federal Rules of Bankruptcy Procedure
granting CitiCapital relief from the automatic stay as to the Equipment or,
a
alternatively, pursuant to §361 of the Bankruptcy Code, requiring Debtor to make
periodic cash payments as adequate protection.
BASIS FOR RELIEF 17. CitiCapital is entitled to relief from the automatic stay pursuant to §362(d) of the
United States Bankruptcy Code which provides as follows:
On request of a party in interest, and after notice and a hearing, the Court shall grant relief from the Stay provided under Subsection (a) of this section, such as by terminating, annulling, modifying, or conditioning such stay:
(1) For cause, including the lack of adequate protection of an interest in property of such party in interest; or (2) With respect to a stay of an act against property, if
(A) the debtor does not have any equity in such property; and (B) such property is not necessary to an effective
reorganization.
18. Section 362(d) of the Bankruptcy Code is written in the disjunctive and authorizes
relief from stay if the creditor can either show cause, including the lack of adequate
protection, or establish that the debtor has no equity in the property and that the
property is not necessary to an effective reorganization. Nazareth National Bank v.
Trina-Dee, Inc., 731 F.2d 170, 171 (3rd Cir.1984). Cause must be determined on a
case-by-case basis. Baldino v. Wilson, 116 F.3d. 87, 90 (3rd. Cir.1997); In re Rexene
Prod Co., 141 B.R. 574, 576 (Bankr.D.Del.1992).
19. There is no equity in the Equipment described above in excess of the lien of
CitiCapital.
20. Cause exists to grant CitiCapital relief from the automatic stay since CitiCapital is not
being adequately protected and the Debtor has no equity in the Equipment.
I
21. A modification of stay is mandated if the Debtor fails to demonstrate that an effective
reorganization is in prospect. See, e.g., In re Swedeland Development Group, Inc., 16
F.3d 552 (3rd Cir.1994) en banc.
22. CitiCapital submits that it has met the burden of proof required by 11 U.S.C.
§362(g)(1) and that it should be granted relief from the Automatic Stay.
23. Should the Court not grant CitiCapital's request for relief from the automatic stay, the
Court should direct Debtor to pay adequate protection.
24. Section 363(e) of the Bankruptcy Code provides in pertinent part:
Notwithstanding any other provision of this section, at any time on request of any entity that has an interest in property used, sold, or leased... the Court... shall prohibit or condition such use, sale, or lease as is necessary to provide adequate protection of such interest.
25. The use by Debtor of the Equipment mandates adequate protection. "[T]he
requirement of adequate protection in Section 363(e) is mandatory. If adequate
protection cannot be offered, such use, sale or lease of the collateral much be
prohibited." Lawrence P. King, Collier on Bankruptcy §363.05.
26. Adequate protection is necessary to preserve the value of CitiCapital's interest in the
Equipment as it existed on the Petition Date and throughout the pendency of the
Chapter 11 case. See, e.g., In re Melson, 44 B.R. 454,455 (Bankr.D.Del.1984)
27. The Equipment is depreciating in value. Thus, CitiCapital requests that, as adequate
protection for the use by Debtor of the Equipment and the declining value of same,
the Debtor be required to pay the current arrears on the agreements and to continue
payment of same, pending further order of this Court.
A
NOTICE OF APPLICATION 28. Notice of this Motion has been given to the Debtor, the Official Committee of
Unsecured Creditors, the Office of the United States Trustee and those persons
requesting notice under Rule 2002.
29. No previous motion for the relief requested herein has been filed in this or any other
court.
30. Because of the nature of the relief requested in this Motion, CitiCapital believes that
no briefing is required. Accordingly, pursuant to Rule 7.1.2(a) of the Local Rules,
incorporated by reference into the Local Bankruptcy Rules by General Order #9D,
CitiCapital waives its right to file a brief in support of the Motion.
WHEREFORE, CitiCapital Commercial Corporation f/k/a Associates Commercial
Corporation, by and through its LCA Division and Citicorp Vendor Finance, Inc. respectfully
requests the entry of an order, substantially in the form attached hereto as Exhibit "C," granting
the relief requested in the Motion and granting CitiCapital such other and further relief as is just
and proper.
[THIS SPACE INTENTIONALLY LEFT BLANK]
a
Dated: Wilmington, Delaware October 4, 2002 FARR, BURKE, GAMBACORTA & WRIGHT
A Professional Corporation
By: Is! John R. Weaver, Jr. JOHN R. WEAVER, JR. (No. 911) 831 North Tatnall Street, Suite 200 P.O. Box 510 Wilmington, Delaware 19899 (302) 428-1077
SERGIO I. SCUTERI (SS 0535) 211 Benigno Boulevard, Suite 201 Bellmawr, New Jersey 08031 (856) 931-1030 Attorneys for CitiCapital Commercial Corporation f/k/a Associates Commercial Corporation, by and through its LCA Division and CitiCorp Vendor Finance, Inc.
Aua-ZZ-2002 09:48am From-CitiCapital +97265Z1234 T-925 P-004 F-231 J tRY-84-1998 Itj: 3B FRO11 LCA LOS RNEE TO 9184761891=87 P.02
RASTER LEASE AGREEMENT@1
THIS LEASE AGREEMENT is entered Into by arid between ASS OCIATES LEASING, INC ('1s899W) and the undersmged Leaos. fLeqP99*j
Article 1 - Daflinftorn As Lized herein, : th tml -Baic HeFin csee "Csmuatv Value% a 'Eicraticlate ad 'Installation Locationi' Phe stb respect to Poch
ofey oat mian' thti esdprun eeo astemalg e o Th t Equipment Scoedula ai hoo, leen oengsc hnof equipment- usathrt.hv h osh a at oemlsc
Ani~a 2 - Lease and Rental 21 Loeom at Eqwipremn Subject to the terms and conditions elontsmaid haremn Lessor hereaby epos to puarchase and lease to
Iet. rdLm~hrr gest es rmLseec tem of ontIhevoen wlit l l Prresent &M fitu ttctw aeqwpmntic ,ececeentpurs.addtins nd eparsenddl roeed threF, c bl caled the 'Equipmet* said y *ixhy n tem atseeeiie winh a fom meto im deivredtoari ~cepedby oses nOr p,'iursuant to mie tirmis of this Lese and the Epre; Sa~hodeli andCe~ha~ o Acepane eaherindmird3~picalethreo.Upont such delivery. Lse" will triepet ruch ite f5upinad if dinen ofsuh sunof qumsn aids~sub en dlperso esera certrfuest of scetnei omand .udsytgatil 01e1ufectn'0IY to Lassar g'cedfl~te f Aoepenic ii ipet thret, wermion uhIgor" of EQUaoMer ehel be deemild weto In been dyliveired to anid esped y aseswidr f~s eee aid hai besubectUuaamfarto all the terms anid cenditions of Ona Lease, arid auchCertificate of
E mi~JU h o~8C e"UI etm mean ony of ttE EVmenr Schedidee, In torm and suirntance sotisfactoryt Lo lesor- nterod hint between Le.4 fimn, u"Itto thme Section re, a $wsae may frow tme to %ime to oupplesmentad ar amended Eachl ~qupment Schedule
ermigO contadin the aovnmunent of Lessor to lese. each of thi Iems:n of 1quipment t run Ieo0d dths cortiwnienent atleses., to games fth sman' upon~ ft terms aral vordiftale thervin anid herein not forth. Moulvey Data' eal moim% for an itaem of Equqwoirn eit a doeat.o the, poaieuloa or Acceptance covering such jite of quumuril, which date shoel feth daie such iturn of Equipmetrut is daliversd to erid accepted by Leatioe purtuarm to she pro~iouina of whre secven I
Loast. may. from dreme to time, requeet Lessor 10o Ideas Ulm of I antn ma Lesne biy preueiting_ a Iloee Wp~aln in form and sabirtancs ecsr~t ormy to Lesoor I"Las.o Appligation'j aii 1i !g rpwqn lo soPeifying fth rtms or IttgJumient d Fhed. the requvememd t~moflasentd such other infomisnban as Lessor may requir. If Lsso has pieced Ita purchase order for the Equilipme=ht sailer thro.Limshall pmesnt to Loegor, urnuftaneously whimvt. Lru Appllwetaon. a fucbasa order assiagnment in tow~n arignaueteo SAIGStlmfcaY to J.essor. It Lnsise bee not ordereid the Equipment, then following the recei;ptnd approval af such Lees. Affhoodars by Lessor, Lessor shlall order such itms of Equipment for Iwsm hereunder
Eacht Eqiiiipnjant Schedule shail be considered a=@peel and enferdeehia lease Ineiorperatusg the terms andl condtjobns of 0q@r Weater Loose A menont. An flacusted counterpart of miris MetrLoose Ageement bronclui:an. yn suppleniente addends or riders hettol or rivechanicil reproduced vs o m toether with en execfatod Equipmena Schiedule. mmrhcd Ogr' hl eteojWo h es o the Ecurpinunt smded o r o qmerit Schedule arnd taoglene they shell consatrejaried Onuni . shi roe eo the or~t~n as1 thde- loer Ior LCor n= h = ceo tohets apulpmnr. To the exten that the Least constitution chattell paper. amsuch 'term if st Uelefin theuniform CeunrlCod of Ih Ap u~~irlsdodfton. no seorisy. interest in mi. Lease may lpcreated or pesfected lhoahthe tr~aner of pOssu8dait of any coumnarpew Other than the Origirnal of en Equipment Schedule Lessor shell en do fles ereby iettiiMI loval ftith to, ami Pfepiity In. the Equtpmant, it being expsresly uniferstood that tho Loase su n agrseement of loome only.
239 Term of Lsaetn Tie terim of This Lease for Poch ntem of Equipmens ('Te'nV) shall scrmmencir ort Via elVerwy Dowe lto rich item of e11uftinlentei Mhl e air n the ffpirurror Paus appricble to sunch moem of Eqmpmntn (*Oignanl Termt- . unless tember mrinaled In accordanice w~ithte rsions heeol, cril. Lesoe oelit. a reneael option with raspect to suah Equipment lithe term of whichl hsIeersnaftar caliod the 'Renawed T=11'. Vb lost date oft ths fined Reneowel Termn electoed by Lessee with nesvect to such moem of 9qiupmnWt Thno obbgations; of Lasses u dra Mrce 3 and 4 hereof ohall turvive the evirstion arid termination of vthe Leaes 23 Reom Palmn is
(A) Losses a mom to pay Laosso, the following renum (coillreavely celled 'Rant-] for the EquIpmunos Il Iam Wr. Losses aglease t9,m Lessor Bas~o Rent for thil Oigpinal Term for each Item of Erneipment In the number of
irnetallnmame, in the ahieiun inn eccordence with Vie payment schedule eel forth in Vtho Eqlre aw Soheule coverng w-ui Uuppimmnufalq ReItLessee also a rree. to pay to Lessor. or to the party entited tOee" it other then Le9asr, all amounts, lkaubiem and ObI111esione. other man mesi Re rit trteOriginal Tomi. wurxab Losses is abligoted to pay under or pursuant to Paw Leesei ( arrismmnl Heiti') including witlit lrimitation, pevliiritsig of Cavsv"f Vatue, promptly as the 'same shoal
income due M441 awing. ledl Overdue Pent For each inietellment of Dosic Rant or Supplema nte Rent nat paid when due Lesse "met %pigirLessor
an d~tonp retalehrgeV~v~du Retalchre') celctahred thereon at fth rawe of 11 IS.1 per orani 1oth period the s Me 111 re mmn e ra r.pi at'.e Lossor's opton. 5% of such installmentc of Beels Reim or 54.iplementerl Rent. Pr.Ao mat such anri wduu Rente Charge is flot pr-tobaitd by law, otherwise at the highestratse Leateo can legally olgate ielif sopay and/or Leaie can legwlly collect.
(bi Flowr go Payment All pa~ymenats of Rent abeall be mied. to Liessor as Lessor's jilfte of business Pet fait heirein or #A such other place a3 Lesser may epethy In writing from time to Prime
[c) kie~t ieee This Leas" is a acet lowa. and Leasese's obligation to ppy ell Rent and other wriounto payablo hermutaidr srel be ob cure aridl un~ondibonol under &I circurnesaruces, regmrilins of isy set-all. cauntrctialam, recouprent, dafense of other right which Lessee mawy bmw or ulamn" to hey. agoerat Lessor toe arty rewaon, end eny ontemnmpnen in or ,es"sari of Loeass$ use Of possession of anY item of Equipment for any reason whatsoever
Article 3-Reprucentationa and Disclarnuers 3.1 Represeuisomions by Laesee Laos., rerpncscmns to Lessor that, at the time of execution of each (a) Etitapmoen Schada Lomse shall have (i1 riserminad that ail items or Equipmern are oat mae$ dos&w capacity sand mnanufacture aslocted by it, anid QJ esoffed te!tet 50Iliio such
rtornaof~~~~q~aipmnenses ar utol orLseesed Iibi Cerificate of Ace~ptence, Lessee shall hiave Insepated eachti temn of Vqiaprmm AMd found VWsoe to beic n Dode order end co to anid conforirrng to elI of Losses,# opercifirationor unir roqurorenter 3.2 Certaln Less. dlecfa101 Laesse eCICRwledol and agrideees that Lessor is niot a mienzftictwrtr 04 jealuv In or~ ft kIT kIt
rboes heene n Lue ESSOR LEABIM EACH TEM OF~r '!IJ AE IA S AND 'WITH ALL FAULI. .vi W iQUT WARRAIVTYO RE ASNTA11 ON EITHWER EPRIMS OR IMPLIED AS TO (A& I%1`14 rNESS FO ANY PARTIClA PUPOSE OR RP4MEACHNAUW IT si ITE OF EaUlPWET ORITSDESIGN OR CON~faOM N TE y OF THE MAZ Al. OR WOJIKMAxmIT4RI LESSR'3 ITE AHEETOOR WC) ANY OTHER ATEWASOV r, BEIT I AGIIE THAAL BUCK RI5IKS AME TO B BORN~e LESEE.LESOR HAL IOT LI OLE FOR ANY DIlIEcT hi4DREC rrPhAL, INCIOENTAL OR CONISEQUENTIAL 0tAL4030 N CIHARACTER AS A RESIULT OF THE LEASE OF THE I LIWMEN'T INCLUDIWi IhOUT LIMITATION. LOSS OF PROFIT! QPIT DAMAGE OR LOSS OF PRODUCTION WI4ET14ER SUFFERED BY LESSEE OR ANY THIRD PARTY. Lieasr Is Vat reaporislbl for, end shall rot be liable to
Leae, or uneos otaingso6pr= of vleof any item of Equipment 1evurany c aus (ncluding, witotiniun oenetlatoso remiecvons or actinso' of other pat=
"mIVag 104hrilus Aweerupusre(ae thurkm pnsf f on itm of E-qugimomnnw b he-t w DVForgeas
52 5547 Now. 11 10 e i v i Time Ma cl1PJ EXH IB7ITL
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Recieved Time MaY 4 2TIN IAL FOR ASSOCIAYES
W Artida 4-Covenants of Losses 4.1 Ua. of Ei mom~ Lommas agrees to use eac itern of Equpiom in wjh conduct of hit business pwrsuen to Ue rmime or this Le~ee cer¶~emcewi he equremnt o murt~1 ckV provfded u or section 4 11 and the rrianufmctwn'q Re standardsd Laeif agre VM hmc Its ant tal tirnes be anid rrilint e omne o f Lamm* Grd nt Iriaallbor Loa~o ihout oear' prior written consentc. Eech Ite ofEu shallateg ii 5'e n by ulfe personnel awhiactd. employed aridlor controlled by Losses and in cumpliffo. with off applicable goveirisari laws z"1Z
4 p1en ownt" M. esee",atits own coat ard expanse, maintinn. samvce grid repair each ktm of Equipment w keep *eal iteM of matI W0= tngvruto n appaane it wet when first dolinre, rnry ea Mid tell 0 exoeplo Leaw @hall not, wthoAMRvPrior wrtuan consent of Lessor. make any modificationa at addiqons to the EquirnenL. All parse replacemeints, and subej ulbons to or for any turn ofEquipment dfing mnwildietuly become pan of the Eqawmrnnt arid t, prpet of Lessor 4.3 Taxes.
( a I Oeneral Tax birdenuity Lots.a agrees to pay end to indemnify end hold Lessor herrmlevs from anid Onageri sedge, ie,~ personial opriy. lueseim lpmleg us*, stapip olf other taxis luvies, einoIU, idubas, chargers or witliholdifrigs 0 aith ".utaat penalties, M~taOM Intfli 1hersoil now or hioruftor arpvv;M egMart Lessor, LONse IN Oft Or MOMe Of fib iteIMS Of E4LePMena Or Upon thii iu~raftaSei Ownrmsatupfdoiveryylasn, polfSewlon use, cps o4otl. renirn or other diupourilon thereof. or up2on the retaflt~. ftce;M ts &Ste,~nn urefrsorn, at tupon of with respct lve Les 7axohldrn. however. federal and satse taos. on or measuured by. the not wcm #r Loise awee oeo eulofLsr, al ew~ ta returns canch~noi eny mm of Equiiarnent with anl agp o ratde g nmaranid agencies OW to furnleh to LIssor a copy of eh uhrtrincluding ovitdanaa of = a Promptly after the due dalS Vof aos*tpsuhflllhg;- provided that in the aekiwit Lem sseu not parrysud to file aen such return ont behalf of r. than Lasee. egrms lo pft~are and forweud eahsl' uch return to Lessor in a tmdvl mamnner wan wwucliomi Wo Lessor with reospealt to ft ho lirta thereof (hdipiwwblt A,11 amounts paveble byy Loee. piursuvrit to Seaotn 4.3f( tal" be paystis aroyto ec totefextenth~-O pi en or=oMy es woeo npr ri r arsl ad o h h to ~ ~ an Ih exatmtuJtlneolu hoflty All the indernutiets; contained In Seoonan 4 Sim? shdt ic st~ aai
irideiuwfld isdi naect o emant ofte Ine ewnel omade foere thy toohe 1ar1y &. wda h ob g~d ofLes n ofte this Loseion 4 hl oerin parte mauefforthe bneitof an: s idb nfoaal Firntaresongtol any.Loissor. wig o of bsr luem naeron t mayt av.3(sn shal bevn Vtat during th abiorirnroeno re of thu Las, rievntooarsill also b ornives wiatoaHht repmrun to theon Sateriunde 4 ca, Ouch lariiysurltontinby.anotwsherpanrty. xpruno tr~n~n fas aw. n
__44 Rioiallpofee Loice whall bow elI risk ofloss or. damage to, or destruction Of each itemn of Equpmeri to be lot to Use"e gaufejnt to 1hLaess from and shfte the earlier of Is) the tims such risk ceases to be homeg by the Guitar of such item of equipmient at (tq the comonshceirno of owe Term of this Losu for such Romn of Equipment until Lessor takes possessionu thereof after the exprtoornaresdieooft L e lIr Owuevent any itarno Ofw eazris lst. 016(uni.4usoyadvwor egdo pastionlrLasa oreiearlier comuteuci oftsLgo pmna pa oLm = at Value with rexpect to such htem a upveA emue as of 04e Baic ante on or next a n.. shall bei appidt ruchevM Anes Va isactually received by Laesor frm hnuninc or otherwise on Lowuep's behalf for such 104 ile darmage shagbe aplid toredcm Lna 's agtios uner Section 4A4 h otlo partia destruction of on item of Equgmurnt, or tho torta!o pared lose of irse of Or possess~on thereof to Laessee chatg not rowm. or relieve Lamme hiorn Its obligawins wid fluilnme under %%e LaýGee with rczpoct themeo. lllctudin. without blnitlaoti the 00110igatoa IA Da RVnt
4 5 Iniewrrwr Apart been Tax Indearuuy Leesee egress that Lessor shall havre nob lesporrbilrty or hbalirty to Loome it;sue acae rs aOd eseuri, or any other Pputy with resptct to, anty Us ables (at defined belowl. and 1-iaw hrsh wssumee buabds 4tafr, sand heracv fees 10 ind .wmIV. pVUWat def".end, w 4v a keep Lesgor harmless from and against a"t end 1= al Ib tos bigarian.laes _Srae poensoc U14n ections, suns, caste expnses eOd itsursorintsu, inchadijAg. withowt firnitation, reasonable W9egal teen aaepiansa. til whtoever ~n n helto's Icollacwt wcaled elbilbeeI which may be inculoofe Py or i Wsod on Leswar Or an litem a Equipmentr durng si thrn ofthl.i Leso in wrmy wav relaing to ator sneirg 041 of, or alleged to on anv way Was~ to or arise out 91 tha manufeoturts. purchase. 1140116or, al"ershil. acceptance. ruejetonn deliverv, riovidolivery, possiesson uve, operavoon. leasn. _9lsslm, replacement. cotyfitu mormwammiewc repirsd. return of othr oppiceazon or isiposmton Of any iem of cqu'pmont, finchuding wihout firnmtttiori. any Liabriitis armsn sarsf of las4W pareth' or other defeats whether Or rnot SCoveV*M by Lessse, any tort clam lnlnvlung strict liability in torn and wehro cv e asv cowl gnsnof ;6rdni for damage. Lesses aruee tov gasLessr and Lessor agree i give Lease,* prompt wrItte notlabe o rany den rebu Ve rebidnurufe guano Upon rec T-s at m rio oaw by Leegeoe, Lessee asts rown expense. shall assuime run reepnmb&yfo h' aew against or eatdoamunt or any such L~blt. and esor shall -ooprate with Less- by atvilng tripa enser of Levee, suchWMoss doabers uuotefm lienceas Lase My reasonably request The abugannam of Lausaa une ths efo 4.6 altW sahnmvi thoua giraon dor alrnor iemieart of Leas its to any item of Equipment li.e ~ ~ ~ I, 4.1 osses~onI~eea~i LartLsses &arm es ht it shool not (a) subleas, hire out. or otherwise transfor or Part wihteVAleal control or custody o any o emf ft~ ltquipment,. except rUlLssee may fent the Equgijuint In the ord~nay coume of it* u u oit ~tmv on such temi =oam norma in the Industry. protde rimotin s rcae the Lqime is ratd oschoutmr an prwd4lIlm Maean *seagno arnd Lossee doe, hereby asuign all such' coasesoa retal1 areeents arnd alrental p4Ynw itgad tat n uor nt am d In orMt bacot" due it aerir end0 1 ttaom i ur-muipoed hsa o =esr to turtrie secure pamen of so indgbtsanas seat finh Vas h Leaseb Telnrties Lae or iutsnterest hsveunder. Of 1Gt croaet, moCW suurno or eflow To aemt anyiai n or with respect wo the Z Lo esso. itle thereto of any Intommi thereIns land Lasses. will promptly. a: its own expenoe, sake sich sovort as my be nocaseery to disc as any such lion).
4.7 Truiepoma,*rageivt. All transportation, freight end oilher chsrgespviouglsl for delivary of the I ap~nt to and ftron the I dion Location or any othier loceivat. We all instellacon, coninection. disconisimtori mit peLn cheMaw shl ep4 yLse 4.3 %Uqwpnen to be Peteonus Property Lases agrees that the EQuiarnent shall be mnd frnamm personal prope~rt ruTwuhaternq the atnierino -a hio the seise mazy as atahed or affixed to realiny, anid Lucas, shagl do all sact aMi enter into eA agreements necoa oy "Tb isu that trio Equipment rertuars persormij property 49 S Uerftig. Laptev sproes. upon rajuwet of Lessor. to cause each Itemn of Equ~ipmnt to be plainly anid pormoenendy macrltm with a legend dedrsedp by Lessor ewida~orpg olesor a owOntMisp oat4* stun te of Equipenent
4-0 fmO61wMO VPnhVG-0stunO "wtsnyPaRuet11 of thisLeaos With rasp.ete nytamafruofT INs own cot and evona".e prunydy assemble, Grata end reWrn such eW fD Merut to Lassor nU wscnhnA ron F" wri ary lel antd tsar eameted, at wuck locehon as Lessor shell specify, enid prior to such asembidly and return. LeNOstseeulll, If Lessor Khd mat sit, store such item of Mmmenmrt at its then lavatiort on Lesseeis ptreisAM at The saole evenhs ond risk of Leaves. for a period nat sal ecee Isdays. Du ai such eterisge puond Lessee shal witain mwurnow an such item of Equiprrnt aicoordelncawith Vieprokilooneigi ,0bL Ind shell peIt Lessor or at, rspresno le obigpopcusprhsr e.. rr~u esonable_ itom= a touzerrshle such amoi L el Leese fads to t=i' en hern of Cquipmerit in accordance withI the Fore, Leso wNhoe t ihrLlc oauc t 91-aper at the Basie Rent spoened thearefore, profGWe to a por Mom, for seeh day ow Louse, fwdg to retm such ite of m Ofmn
Augr-22-2002 09:49am From-CitiCapital MsrY-6-1998 11:40 FRMX LCR LOS RIWZLF
+9726521234 TO
T-925 P.006/022 F-231 giE347689037 P.04
Angile 56- Aesnewul OPtOWU and Puirchase Opirons Lamse shall have The oto to renew this Leane as to Sthe 9%mant covered b-Y an lqupment Scheltde. and to prhs h no aneo mE~ ari Sceue ifVoie frg ipp.,coe tI~msnt 80hedule aid ayupo" the %erms a4 1cedonaIr met toi mnddodm a iluipwsnSchdul, then Losses sled have no opwe to renew Owes J-68 go to Fi. 1iwrayo~~rchaeoruhewwe,0= Iria to or ownership of' tie Equipment covered thereby, aend *banu navonly the undw inamt toON trms nd na of this Low"..
Axrtid 6 - Default and Remedies 65.1 Eventse of Default. The occurrence, of anmy of the folowing shall camiOwt u an 'vent of Default" heraurndert
10)oe l Lesser (cils to tueive in mwnie~iteily, aveabinal funds.1 atl o V Pan m"r~r of any installment or Rom or any other psym beoetedoa such imas becomes due anid payetie hereundar; lb) Laosse breahel wriy epiresentation or warranty mode in, or In gcnnection with. thie eaose, at if ayinfi,1naucriio in i document cirtifrioet. Jfrioclul statement or other statementr Airivehad to Liessr pursuank to the prawiteofts of thirie est, is fatedn 1ncQ1T~k~o ofi Cro~g nAy material rasoact as of the date on which the varne was mode. (cl Lawes" shell fail at relvee to duly observe or perform any ofter covenant. condition or %agement mnode by It heisgndei ithot Agreeernet between La3sor arnd Loan,, anid sugh faiture or rehfssid continues Without "emed lor a paired o~f 6 days aft:e Md Legg"..n eafito an Evora of Defott under arty other Laose tooto aung of aniother Equimenton Schdule eid 11w Ti conditons 01W t~es I l... or any Other agreermen entered Into wfth Lessor, (e) Lessee esesee to do busi s on concern. becomes raeolvent makes ni soar n o h eei fceio nwInha IreM inaentirtrty to pa ito debts as they become duy. takes adventepe of any law for 1% tale rla'dclitort or mny ptoperty of i
11 a psbtion m bonkruptcv or for en arrangamenit. reorgernluatmury. craompeuon, bruidation. dissolutoun or slnvkr relief we f 2ag~rizi Lae*se under anry present or ututr stmetuwlo.fw or regplation, and if such a pe titon is ild against Lesee, it 1s not OI melsed w(
It covred Cli. Iarri
or nde r I
71111 and
,sdmrts
I by or
(gl a trustee or rrwevar rr appointed for Lessee ot for' ay jubotntiat pert of it. property. or fII thlem thanl be a naterval change In the msriagormrir. ownrwrehip or control of rass.. I 6.2 Rormeehe. When "n Event of Dafailt has occourred ahit w coatui4 Lsa may in its sale discretion elect, to the Motnt ;dirUod ty and wub~actto carnpkbncewtttriwyfwnaator requirementw, at epprcbl. a hnmefc.t
(a) Prceed ppropriator court acton or actions either at Is* or mn equity, to enforce perforrnauio" by Losses of vwi ckl covesnants and terms of 4% Lese" or to recover darnegog for the bimeacti threof; fIN with or writhourt ~e to Lessee, tsirrunato this Laso. and/or lessee jghts of posseswion hereunder as toap~y one or to of fi teMs cf' Matirai whveANO n oll right. UV*l "n mintest of Lesee to at in fte as of auic items of Equimentnt thal f Srsnote, arid gr
$may nty oQryIvte agent enter Upon thea pMrsass of Lassee or other preoss'hr uhie fEupesmyh located. take pOnessotm c Peasses hareby inifermsfyrng and holhrig Lassow hanrmes am= hablity for Any damnages ceeomed by such of posemoassi ofrvar, it Lessorw eilection, esquire Leass.. at Losses's expense, to rotwn such itamno of Eqwiperint prVal o L owm the marsiner sicndftrurln required by, end otherwiria in accordance with alpidvisions of, Section 4 10, (ci ain the evens of "o such terrmnation with respect TA Any Item of Equipmoent. Lessor shall have the n9ht but shall not be a Gatrd. to s4111 such 1qwpmnisM either aowne at in parcels. in auch a manner as Lessor may 4aetsariine. or otherwise diepoeg of. or himE, ume, crate. lesne to others or keep Wde suoh Nquigipmi ent a Lss r in Its soft disoreti on mary determins.
(d? fInthe eveint of a11y such trreruatto wnimt respect to inmy lr of Eq i rrtu and whethsr or riot Loessor sld hove oxe or shall~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~ ~~~7 ahretra n oeeaw. iyo t ihsuie aa a~ c bove, I'! Lessor shall be entitled to retain iatem and adthoo eunre theretofore paod by Leossee. Odi Lessor maey repover from Leesee arm Re woei adishioriel signs accrued e" uripan lindea di erums of in respect or sucv Eqjuipmeint as of the clots of tormnrvnuok and~ ba) Lessor may racover forthwrth hamn Levsse as liqodated eeefor toses fat Ien. " not am a enalty, wiohevoer of the following Amounts Lessor in its note diausurton shall elect; W.)s anon ouif lbthe e6=ss Iftay, of the C44;UNEVtuE1 'of ithe kara of Eqpment Invive ms suh rlwtna ftefaS er0 etpeeing the oa f vaniTmwnsoin ever the Far ne Valu as here.n definadi such Eauipmnt as of tile dote ot the torminorioon. of (y an urnrioutaf lt fth excess, if any. of the then prqesst volu. or all flasirc Rent wisef' wouldo0therwise have accrued hereundler on account of the aEaldbnlsg Involved in suich teon rintan from the dota of tert~rinatin to the end of the Term of tOis Lease for each nrna of Equilpmemz over the %henm "aesnt Value of the Vognigats Fair Rental Vulur (as herefin defined of Such itemn of Ewupment for the balancei of such Tean vuwh present vellue tobe cer Wtd at ach cse awithe basteo oa 6% Per annum divcount factor [rmor the respective daews Uponk which such o~nnsaw ha bee' n paya hirmunadsr hod tine Least riot been, talMenatod. The 'Frr Market Sifte Valim~.s" of nenm of Equ~tnrit sholl be dowmleawr~ h bansi ofP,*mri shaid ba a"e in armount t. the value wehich woul d a toan in an uemas-lerith transiction between an informed eaM wte~na b - oflu [ether then e b uye , tury niy posEes rilna an ml a~nd willing saler under no coriieo -osi.TeFair Rental Vahmh of +4n etof wf~~esail beotenwerte on te Iau Vr end shleib equal m offlaurt to, Viti Value wfllcf would obtain 111 an arm's-Ienoth tren ob aewen en Irronvw aend vali"i losases tather t'hen s leave* currently in poeveosaleni aOW ar informed erid willing lessor under fno sarriPd nto Iemu
r
Page 3 of 11~ Il it~dL5~L1.. betee liosAtee. hic 'aiiasw
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Recio~d TitoMay 21 1 PM AL FOR ASSOCIATES
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4.11 LkuwmwiaI (a) Required Coaus*e brusewimec overaeg. Lesse more*@ Viat It shaft at slt bring untV uo anid of rh Term of Itise ae ri uu Cny Qstre Perid 04n at Vito n cM o COST &VAgentss les each Itemn of Equipment insure egainst lows by Sised~eCovrune e~sjdcoverage erdSeem Wn Gunac suc other five of Physicoal lots ti ar c etmisnryff iu eqtrt asww~ppet a eImlar Character WrI =, ss og In bamaiues similar to that enag in by Leavee at riot lass them the iuolwr ar 904 tefl a t plecedrrr wtue of such Iteim of Equffmeknt or Wii the Ition eppbcsiblo Couniaalrvalu ofscttmoftupnn. l u Futrafteima Dove seeat Lesom and Lass.m e Equon 1 ent anid shod provide that leosee it y. in imspatof t eien t sho be paywble MoLsee Lee their rospectIves imantees may appem', under a lang form lose payable. clausen ftm wsa (1W Reaqimd Utb~fry karmence Coverage. Lessee apsees that it shell at off warids unti the end of fth Term of tis. Lat4ra and dujarfm an sarace period arid At eam own enat anid expense marntan bodil inir lridoldm desth! end property damnage l-bt rneae it epc aithe E wpmri, in ornowas approve by Lesso Alt such insurance IhlpoetLso n LeVe in _epc qef lty gingurstir m 1I opeai trianittenenes, use. oweufi o pron of the Equipment, ernd shell deliptas suich owine"as named inkwed thereunder. (a) 'Natiers of cairsagea Seidee6frnem Eacb paoliy under this $ectoon 4 11 abld provide (11 thati the In=ue shlld~v Leof it day prir Wmifn sc slcelaton r ny ltaatim teref wuldbeaffctie a toLesor.andIn tht ay aoune eerwoe~et the oliy t Lesor haDbe o paabl irespetiv ofanyrrseeprsensuo b~ esse i icqenn ormestezrng hetoba
neltoeton wintheappicabe Isurr o mvshtrekn ofanyeuc poicyLases sellproptl noifyLesor. esse eudlfurn.s Le esruioses o Lesee oknwedgng esse a ortpliace ith liimslferiS rqusrniolethreuder
Aug-22-2002 09 :4Gam From-CitiCapital +9726521234 T-925 P.007/022 F-231 MAY-94-i9S8 11 41. FROMl LCfl LOS ANGELES TO 918476MO307 P.05
"40"0
h Meo on adiii an to W "~galn oa sal beamnado.end (I* reco eor mray ressoven fomd Lss. asner riqidta dwng 0toeos
flgo ft rn eddlboft OF any foregorno. La(o ul W Is eatie Oth er bo1ofrom Leoe any= 'tio al acX hc eo 4afe~tt reatosofeis espouss as shall be fnecutrod in the seizure retltorogi or safe of such ~quipirrhnt or in the anordoeamahi of= ra nigh 04 pnIRWa haroeifder Wir arty vonromttofi or action mn connotmon irwt.
6 3 @uriiuI.tiv Mature of lrramdlee No Yarnedy referred to irn due Mridle S is ~iteded to be extclusove, but shelf be aurnwijuv and in oddriton bo any ~te re-,dy available to Lowera art low or in enquity, and the axerets or fal~re by Lassoy to exorcise any eone Or mnw of Mach reedoires @Nao riot prelde# the uunuftaerieus or staxr wererisa oyfase of any or am of such tornadeils No ezPreuv or 1411 Wwu ~by Lessor of any Event of Odeau& shall in a"y way be, ot br construed ito ba warver of may futurti or subsequent Event oa OeMd To i etanto
perietedb mfeaas law. Laossi horaey wa ves any night now or heroaftar corfnfard by statute or otherwise which may reoWre Lesort well. tones or otlaerm use we wy item of EqWpmermt in gdoationi of Lessor's idenths aes s set Termh in this Article or' which may otherwto Inst or modify any of Lossor's right and 1`emadisa m IMs Articl.
MA Dstwolmreilln o~flak pfiniel and Fewr Marhet Osle Valumes For purposes of the. ̂ rfieta 6 the "Fair Rental Value ow this "Fair Market 4419s Valueo rmpyj shell be deterrinad byea qualified independent coraise selected ay Lessor w4nu sasonoy sAtatr
to Law*", with tOe weruines and few. of any apraisear to be borne by Lasist Norwmlhtnw~ :9 oI=o7or*reo Luair.. domes not prer to qn written demand of Upsior pay much expens ano feeos t!=heninaicly OF Vk;;~ =1or0 u &A the mss may bePsa.lU Wstanrmined solely byr Leseor in accordancei with the doliUston thereof camoonrid In Section 6 2Wd2
Artice 7 - Lhssee's Reprsesnuftasin ad Warrmntes 7 1 sPAsssntUUWon 9Mi Wsnutoes Lessee rupnts and warrerits that; (a)41 Lose. a a soorporoalan. Loean Is sind "la at all times
hareafter to qalyomgurdartt ari valdly smieng In goad autmin wurlerm Thatwoo the mate of a rooirporadon and han duty aa~ittrded this n~o~f, eeasioiy arid pel'fcnrnance ofa i ~es )ti es a endt n adyewua i dfirvetod by Lae ss el andemtutate
=191w01 constitute theife lid and bindin owgcnc essedi rdwab nocal couneWith minemie,' to) 01111 osvcuon. delivery end performancoe of thise Lows byLse iln:soaeaylwo te osrnni ewsnnt or, if Lewiso Is a aouprfatior,. Lo ass. a corporate chairter or bylws:ter cili oiiii eal ne n aerst itaet ourndouet ia winch Losses is now or hereafter a OWrt or at which Lasses inw 'a hrefrbebndtoalfraolsaemn ndnformation which have been Or ma hooflesefto boseua d to Lessoor eybanaiwllbco leetrm ndorctadae en AndWl be prepiared in acoordaicewl genWay giccepted meontn Pronils c hr a enn aeilees hner h iaoe condition or Laisses since then last Im Dinasem of spich Iliacul inomato lto tey I thnqlm en IsW *tam g awe va esesll o uineas or cofinerwatl purposes, grid
if no 111=evu Of 591111911 of WITy s~tr oy cuam i tt.fdr or loca govierunient as necessary in connection with thei executbon aT %ills Looe gr iF any Wich uppruiior consent lit ruquMed teWris roban cindried by Lasase Loosse agrees to deliver to Lessor at any rnn or Wnis hereoftr such documnents, lnldring. wwitout lirantaton. cenatid resolutians mid leI opinions, so Lester may reespoblyi requirit toderoconstata Lossees cornpliunov with inetforsopq Each @1 he above watrrenie chafF te coofinriwui and shlfe -be deemed rorrnode
concurrorrrdy with the xeouto; rby Losseof each Equipirmint scle&Aie
Articlle8- MISC910nhous 6.1 Prormip~ca of Lmsosee 0Wlgtone If Lusne@ shld faid to maeb any pawneont or perform anry act ractinred by tlix. L""a, Looerm
ma.but shalg riot be cum Wta to sitk; such payment or perform such ict tarth acciount of and at the expnsa of Lessee without iiaislwng or Tellsm an gulnrmo vnto ~ f mt. fa,. Veeyidrnwtsed eh y to Lessor, upon demanid. an paymanntor so node by Lamecir s~Z~gaWesparomee bnciudmng, without hurelsuaon, reasonabta mttorrwpeflo 'aseng swi 3risIncurred In coflflmro~ Ult5Wu,.. 821 As;;*euioenby lassair lessr may. without notice to Liais. sall. transfer, gront a securIty kirterant in or amegn pert or all of its bAght sia nd UlmerInad to thoyis .ea. one or more: o= a~imrrr. the Rant or ayoerPair, due ot to beacon. due by Leaser o ne to a m oreesrieinheeetofa slnnesatu ee.tt nuo osl nfit Ihal not relieve %he edwtinal L.Aear fromn
its dulls and Obligationse herweuns and ahol faSet be construed to be an mom=ywlo consen uhoigtoa. a pnai.fo Lessor. Laetse shll t sosa payrnents of Reuit end owher amrounts due under the assmigneod Lowe diefro*tlo ihiAe twom W iag ie n sucoh raotice; (c) Lasme~e ==!gb~i heoreunder shill not be vubtact %a "n reduction, ybirarrinin defense, so"t-a coner(r or reooapmeme far
a 3 Fnancuehl and Other latifisornlo Lasso. shalt furnish to Lessor (d1 upon requerst within 43 daos after the end of each fiscal quarter of Wesse chiang the TaunýtWhro. o tarlmnwui of praft and toss arid of gurph of Lesse for 'The quallr thei I oded sail a balanoe sheetz of Lome~eas of at sand of =uhqatr, ON in roevarsnal detail and vervtfid by Its principal fiancial officer, said ( IWritten 12 ldo"aaftw Ot and atf ect fieitm year o0 Les= stin uch time, a statemen of pfofmited loss a6d of'surplus of Lease fot such fisacl year-enod anriia balance sheaf of Lassesii at the aOW of such year. ab in reemonablo deti and cqatifoa by a reputable frnn of andepeaulam public occatwrams of recoysmaked nastionual asejidinma. Lessee shelf furemh 'to Lesor much other rinfoimation about the condition and affairs of Lessree arid oboout the Equipment as Lessor maey front tan to wtsn reasonably request
8.4 Lomoor's Right oflev cintan Looess.. rams to porura Lessor (ot such pereons as Lessor me desigrastel to %dait wwi Inspect tii, Equip bmrto en to qxwrs. Oie taood aOr books of Acccrnai of Lessee rilting thereto, all at such raecono Isflorrnes as Leesor tiwy raisoaneoy
a s C04 oici awtroeiw Any naivea requred or pennizsd hereunder shal be in writinmg (wuth a copy to any Ass&gnee arid shall be mom bay reglavered or ts~ied mail, or a receipted delivery service. to thy addyes, mst foretih hr arai to time etrariion of %in party executing Wie Loose or such ether address or permet as deingnated by props? noires
8r 5 ltadifig. Section hieadings eam inserted for cpmoguetne ouiland thall not affect say wrprotaodo of thes Lease Each ftefronom hereion to *this Lease-. -ths Agroweemei, ?eietn'. 'horse,'om yo. "fiertc-, he~reuirior WAd w s of amwror iniou't aefe go fto Lease ai
whole 11umm ~toe Master Lease Aurverannrt. any aupplearib ans ddenda "n riders thertov to Vie extarn opplicebie and the Equmiomen rhoulsW o~ietr o Acoepteulo oil which the logesd Equviment is described) arid rgi to any partiular setilon otribim oluon hareof.
L7 ebaidlty An povio= of itae Loose which is prohibited by, r i na4i unlawful of iunonfatozsbl under s ayppliaeble law of W&MV isadfction shell, as to eucia ju nsdctaor% be Ineoffectove to th etnt of such prron. invallaity. urtlawfdrinit of umeni~bdt wilhout redian pr Nsom rsao; prarvided, however. that wherep the p~ro on, at any such applical mow many be weaved, they
aceadercs ithbv t eim Q eerite perrnitted by law to sh. end %hat this Lease shaDl be deemed to be a valid well b~iding agreeament m
Page or 41 bt. roW" MW asLm
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Aug-22-2002 DO: SOami From-CitiCapital +9726521234 T-025 P.009/022 F-231 11.3-A- I's1 ZKU31 Lt.14 uIv tur suus~L~j4~ Ru ;Jif1~21 PAGE~l vZ~j
*run1Ltjf L ul tJ £ Uli lUU1FM~tN I Lbitih WHEOULE N .000
N .Pursuant To MASTR LEASE AGREEMENTr NO. 531-6948 (the "LEASEI)
Between ASSOCIATES LEASING, INC. ("Lessor")
And THE UNDERSIGNED LESSEE (Lessee")
Loavir hereby egrovs to koms ta Lasoag mid Lassoe hereby =p to leos from Leteor the nt~um of 15 pmet doscnbed below end on any~ ofgnt schedule which ws identified = oriswttng a panthro (oceeav ftw 'Equiment, and rOI viLaaiy. an i11c of &Pqfwint"n). Unref'n=ASursuant to "h Leon. &W the oddztzonal tan. and Coric""s get forth below anm on the revern sgde hereof. Words arid Ohruuss not othwix Sefiodhomn ý1 have 11w mwanings assigne thereto in Ow Loem. 1. bsaapthe af 9ip~ngct. I ite belw Isa description of the itms= of Eqmprmnt to be lamued purmjwd to the Lows, and tian Equipment
Schedule. the Lasxor's Cost thiereof and the Total Lceezl' Qwo of the fqwPuawnL
a". I1 bl ' IS mnesoffs wwnd WERO as84a
am In Iw d I1 amei VV so" weI OS
Or i ftawag tma AN~ 16kDo NX
Ss TO~ (if epbcablel X0.0
_______________________________ TTAL COST t 145,406.00
A ORIOIAL Tgm. _s0 mow 1033A~lhcNi OF nu 1520*11 EL 01TAJ. PAYUEJTS ____0 ___ PAYMENTS OF 1033Alhabra venu S 29.10 EACM Lns Angvles CA S0012 0 ARENKrAI.L PAYM9JTS' FI RSI REA N
LWs Ane- RENTAUIS) PLUS APPLICABL.E TAXES OR
0. INTERIM R2E~tir v PER DAY PAYABLE UPON GELLER' ~DeLIV13Y OF a HEEQU1rTWFV8
US E qaipmmfl Co-. Inc G. PAYNRT rSCqIEDU THlE ADVANCE RENTAL PAYMENT. F ANY. IS PAYABLE UPON DeUERiVY OF THE LEASE APPUCATION TO LESSOR. THE REMAINING RENTALS ARE
1310 West Verses Vvd.MOTL
Los Angeles CA 9000S60 i
Feanseel. Ic.harv dri Fr F. VALUE RATF- 000
0._ DLWVERY DATE:- ON OR BEFORE 1033 Aihernbre Avenue H. PUCA91O. 4 0Los Angdoz CA 90012oi L402 Angeles I ECU~fm DEPOSIT 3 s .00. .
____________________________ I *TUZd days'~Y fr=z 53gned Delivery& cet ce 2- Wginal TetiI The lteim of the Lane for each itron of' filipent Is me fottIh obove cor'hhivflfi an1 ilha Odwlry Dote for such itmn 9f
3. Braea Rang For fth 0ng-nl Term sr ann pornon dmeref for th~e qcumoe Leweax re %o pay To Lcisof eureato rentax L"u vo %he sum, of &I rent pown'cnts (incudin advance rentob) spoetbod above (Bsa on an w aco~ eWith Ins payment a usiaa soecafiod above.
Pogo 1 4312&o ~mmfgShl /11a amte Pamgm and~~~~~t I'S~iu~ atAoae ____ wa
cawe rsuA_____WS U6 Msftd -~
625640 18935 1Pecioavd Time Apr 21. 4:05PM umuiiiwAL FOR ASSOCIATES
I. tw dbe I(Loot"e) istuth muiltes WeinMa kuatutm. en mie'at W oi ý.~,w wih Wh faoewiza
himal
Aiýiýn
Aug-ZZ-ZOOZ 09:51am From-CitiCapital .IW~-J2~513 24 FROM LCA DIV. OF ASSOCIATES
+9726521234 ID13109032019
T-925 P.D1D/022 F-231
f/i,,0441111 116t
LESSEE Fnswswe dbg ~
Aaciviee an:
ASSOCIAT95 LEASING, 9NC. (Lessnor)Fancta~l Ceatornia Droop Farps
a
P,0 . 2 o~f qwa=,Thwssft aeet, I 14 4bnwrwi~ F and %CAA OffAict1
=:nia qI1Wir______________ Te CajO=~
625641 leas Raciovod Time A~r 21. 4.05PU utita~iriAt FOR ASSOCIATrES
a
Byt
beL Meg Li. Wt~'~wh sa. w4hait hn~cm an lita-m of91zan fatlowui Drop Forge
Las.,.'. k Wa Is
1-,.2
4 Capuntry Vakie The Cmsuay Valuvecach item~ of Eqqnwpmnc during "i original Temi* Lease shall bie U eate awWccrued and urgeid 0 11wf net present value at ag trina.wig Bai et lhwtdhe tews envvbe~ hru der dcounted wr s'%r per anrlwt Frm thi epecuwm Basde Pont Deem. Pkw art unount equato thas poruoon Of Loasog Cost he such Atm of U Jiprnc wuhi btedy -Acipolloong Les-or's Coast 1q; ouch Item of Equipm~ent by the ahk Iioorae se forgh above. uPf '1ohcmctaedb 5 kwultinan Lecelon. Aln items of Eq~wmeflz cowro4 by thrm Eguipoirne Schwklul wel tie kept at the locaton inidicaed above. 5 ftrguatin 04e. The E~qxretion Datm fair each iter of wMpirrant covered by thm Eq'aipuirent Sohe~dal is he IMs day of the oarigir Team for such Romn of ewulpmst 7. Ctofen.Eaof Lease.. The Equoapmenz oevieted bZthii; Fqapinwnt Sched!L& umus havw : Delivery Date on or before the date eait torch in F' on ft, froom sfdoo herecf acherwtie Lessor may cancelIw abilamon to ioemwsch Equipmgnt toLessee B. Purchas Options. Pmvvidd noo Zvewnof Dowfult has aceurred mid to cgnunumq, Lessee have the riht too puirtmev aff, but no less than all of Ith IteW.- of ILwoen tWeedW Wy IL" Equqxonomei Schiedule, ar a prioce equal to the arnounget w fort an The front side huerct under PUK&WES4 OPTION plum cgbiu ravmf any_. Lessee1 shwa ~v Lesmor wyitten notice of sucht alection at Wcart 30 days poor Too ths: arid of the Orgnaln Term of the Lonse. emrtthe 2"wo.uafb made ont such det. in cash at vw cfe S~in2Sb avanist deliveryV of 4W traofel. nsferring arod e7zmg'oL~ all doKtid.be .dintmtaL in anid to One novra ot EquipmriwT eo purchased and containing a waranty ao sa ens 8=ind y thirough or under Iessr. Any sich *ale shall be on ant 'as is'. *w ra is" bumi wihout tepresentson or warranty. ckp,.se or knold. Os to amo vandmton of sucha itemns of Eqtipmenrom ce ay otha mndaau.
8/8
Aug-22-2002 09:51am From-CltlCapitaI PfVY-04-1995 11"44 FROM LCA UOs A'JELES
+9726521234 TO
T-925 P.011/022 F-231 91847S6990307 P 0
Pagly I of I os
SCHEDULE A
Anachad to and made a pant of e(n) MeowV Lea"e a reseM.n Werric of Owlwnts"fta ANN wb £permm
berween FenstW, Inc dhe 1-wwuml Calftnia DOmp F.. _____
dawod 1/16/98
i"Buyer'li anid LCA £ Omeim. nrhaeoeiuteu winu�ad �eaa,�a
loseffee).
l~Wmit' proPsW ity ully, inchdm Year it 00eOPfradta. make. model, kind at urst. edrrnw mid mr JMNRY 0)IIT Plrfnsot IzifOeMuvcn4
6314049,400
One I I)I ngeceoll-Rand Ae Conviaretm model IHEM"-S SIR
fts [I$ InngersllRual RofngeratedAir Pryr modafTMI SOO SIN
Okmil II nueiwoll.Rand NLM Module wtod.I ULM.S
One ill Receives 2199 colon Verti 6S P51
logeihe wtibal peve~ni and futumae endmimey9w, euOV40SO4 TVptaatment
pavu. empune. odd4.orw. @n4 41 proceeds
603400 (REV 2-211 Ii.. Loan or Loomn 1.00 Recieved Time MaY. 4 2.31PM
a
Lch A Dmolon nt Asseelstas ramm%.vpwA Comm
Aug-22-2002 09:5lam From-CitiCapital +9726521234 T-925 P.012/022 F-231
MAY-04-2998 11.43 FROM LCR LOS PN'ELES TO -91847S8S038 P 07
RENTAL PAYiWNT ADJUSTMEN ADDENDUM
TO EQUTPAMEN LEASE AGREEMENT
BETWME
LCA A Division of A scales Commercial Corporatilm, as Lesso and
Fansteed, Inc. dba Fan steel Californi Drop Forge, as Lesse
Datod ~-=-4-' ., 19 V
ADJUSTMENT CLAUSE: Baseiom1 paymifs ave bencamlclated usng I~cas IPo Iactor of 60 @ .02057 UMroes wpMent CCSL Tbis; boor is based on a comparablz S year U. S. Treasury Nowe -fild of 5.48% as published an Dwwmbe 1, 1997. The Lease Rate Factor and Hews Rental payments are ixed for a period of Ofirty (30) days from December 24, 1997. 1 e-ss agreas that, afte tis thirty (30) day pcnd, (untilthe day of fundn), theLmRate Factor wiHbe ted to the grcme of. (a) any incrtas in the afarcinenoned comparable term Treasry Noto yield, or (b) any increase in the U.S. Prime rate as published= fnth Wall Street JournaL. The final L&2s Rore Factor and rental paymnent wil be fixed an the day of funding for the fifll tMm.
Agreed to this ____day__of_19
T Faste, I Faste CaifoniaDrop Forge
Title:
TBy- ______________
Recitved Time May. 4. 2:31PM
Aug-22-2002 09:5lam From-CitiCapital 92513T-5 P.3/2 FZ3
- a
FINANCING STATEMENT - FOLLOW INSTR 0 OS CAREFULLY T, F rs tto , u gg~gierciaI Code
7A M4AW4 & TEL0 sOf CONTACT AT FILER CcpmnaO 2i FRN.IM OFFICE ACCT it 101Aplala Phione (8D0) 331-32a2 Fax (818) 909-2527
C RiflJRN COPYV TO (Home uW kb~dv Address)
FWata Filing Services 92117 Alsociaitma f PC0 Box 275 13g2393-40-1
Van Nuys, CA 9140"-239
*L1 D1560RMWCTFULL LEGAL ICAME - tnsam only oft8 debto naMe (I1a or 1b)
ri¶FERTT"r
IFansteet, Inc
FLD IMTH
~t~j'9810561865
F I LE13 SACRAMENTO, CA
APR 14. 1998 AT 0860
BILL JONES SECRETPRYi OF STAITE
California
lb PWIYIUUAI. � LA� I
TMAE.UNG ADDRMS CnY STATE COUNTRY POTAL COCe 1033 Alhambra Avenuze Los Angeles CA 900 C12
ic SS OR TAX IOU OiONAL. 9i TYPE OF ENTITY- 11T SPITITr'S STATi 3t; ENTITY'SORCAMIZATDONAL ID 9 9"
WNrYETOA I 9RAMZATiONCRN
2 ADOMOPMAL 13EBTOWS EQACT FULL LECAL NAMF - ngert only am debto na (2a o 2b) 1~4-o
7ra7n"Steoetfmia Drop Forge S2~WWb AL3 LAST E ~SNUWESFI
Z~IAL~OA~S vr~ * TA~ CowD~11IPOSTAccoor
1033 Alhambra Avenue Los Angeles IC7A 190012
2dS6 OlRTA.~ib OP"ONAL. 2S TYPRiOF 0EK1Yr SAT 2%; ENTITY 3 ORGANiZATiON4AL 10 A m
3 SeCURED PARrTSý IORIGINAL S/P OR rTS TOTAL ASSIGNEE) EXACT FLL LEGAL NAME. m sert onry one secured party name (3a or a)
LCIFbrvi~on of Associates Commermil Corporation
317NUCTSTKM ___________ _ FIRST NAMTh LE AM 2 Nr
SeMI 1a 4Trwi FwdAICitG STATEM4ENT =wdu v* tkaol Iypw o amus of pmvIy One (1) lnger5oll-Rand Air Compressor model HPE400-2SOne (1) Ingersoll-Rand Refrigerated Ai r Dryer model
TM19 OOne (1) Ingersoll-Rand N LM Module model NLM-50ne (11 Receiver 2180 Gallon Van 165 PSlGtogether with all present and futue attachments. accessones, replacement parts, repairs, additions, and all proceeds 531-8949-000
DJOCUMENTATION
MAY 0 41998
SC CMECK mePNICN TTUff ~ r qutdPn uodae.DMrbpdaaNQtd~e4. T. in FWa (clhod oarrn BX Is) in conmwlafti ~aq a*1ea to a ea$* ymrozwi givnr Voie n A~n wag bfawWl FM VAE MIG Or VWSf 1ie 09"I~tVI Doodneltmy som!p
(i mpicat . dears bmaition was di & vW i ttoau u0)) in ecwrdma *Miei a~wsawoy via p ons (a4iOier"I is tnaiy beqia Ml Vamp %a p.4 r txnot spo'6
& rM T FWANACING STATEMENT isi to D NO (for r~cwrd) I F OureWFn c x T' (r MM01 in1114RcwcERT~ATF ECSiIOV"iaA
A
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Aug-2Z-2002 09:53am Front-Citicapi tal +162 3 -2 .l/2 -3
0a19: W1o 'rffi; VXQ32 AmPa"5918j
citcap itaFý F;Ijl17b."
Certfircate of Delivery and Acceptancec
EQUIPMENT SCHEDULE NUMBE.R: C &, &p
In cornipiantce with the term%, condit ions and provisions of the Master Lesae Agreementi Nunmberý- ~ by and between the undersigned ("Lessaee) and Cit icO Vendor Finanme Inc (%=Lessr).
EquiPMent DescriPtion (Quantity, Msi Mod4l Scnai Nwnbcr):
ONE (1) NEW TCM LIFT TRUCK( MODEL FCBI 5A, TOGETHERWITH ALL ATTACHMENTS, ACCESSORIES, AND ACCESSIONS. S/N_ 7 9 o 7.
The undersigned does hereby acknowledge the complete and satisfactory delivery and instalation of thp Equipment leased from Lessor. Ile undersigned does furth~er acknowledge that Lessor has made no warrantics expressed or implied regarding tho Equipmentl; 1hat our obligations to Lessor or its assignees as act forth in the aforemnentionjed lease arc free of any And all claizns, counter claims, defenses, or act-offi,
Lessce: Fanstecil Wash on anf-anturing Inc
Date": 6-ý 7-'~
C=1P411AVW* z~h;f~t9WjLAmeinbeff ab tj~r
I
NUt7Sad$FA~ckM FRosirr VeTUMACtIgMS
+9728521234 T-925 P -018/022 F-231
-Aug-22-2002 09:54am From-CitiCapital +9726521234 T-925 P.021/022
- .
UCC FIN4ANCING STATEMENT FOLLOW INSTRUCTIONS (front ana back) CAREFULLYA. NAME & i4NS-OF COi'¶ACTAT flLERCwoNII
phmalm3Ol 33,.d262 Fi: C81116824141
9 SE=AAIQIwLr;0GZEAIT TO- IK%1fW id AdMVnss
F-cC Direct Services
P.O. Box 29071
Glendale. CA 91209430'71
9~301 COPELCO4 3064988-41-1
Filewith: IowaL
2
I
-cFILED SECET% 0A STATE
2001 SEP 114 P 4-- 30
ThEA50VN6SPCESFOR FLDMG0M=105 LEEO
1. WW8O"S WXCT FULL LEGAL NAME- Insem only gdeO~rnnm. Cie or i) -Z ot roIbbmrdatoarorwb4,ua nemos IL C-FWNIATION'S NAM~E FANSTEEL WASHlNGTrON MANUF~ACMIRING INC
an bi. tNOIAiO1JAIS LAST -AE FIS AWMIDOLE NAE SUFFIX
ia. MAUNG ADDREM IT STATE I P051W. CODE cOUNTRY 800 E7TH ST WAHNTNIA 152353
Id. TAXIO toVSN OR E11 ýIANUFO RE 118s. TYPE OF OROANIZATION if. 4=4IAiCTION OF ORGANIZATION i g OPAANIZATIONA. ID33. V IORGAiZA110N C~io __________ ~
2.ADCflIONAL DEBTOR'S EXACT FULL LEGAL. NAME -Wafl wiry one debmr name (2m or 2b,). -~ do mbbnr~vats or combine namas 2A. OWaANLZAbC-3 NAME
OR .Z4DMDLLALS LAST NAME FIRST N4AME hlop=. KAME4 GUF"i
2r. MAILING1 ADDR.ESS CITY GTATE IPOSTAL COCE COINTRY
2L. TAX 10 P. 8N OR OiN t WO RE j2d.TYPE OF OROANLZATION V. AM301OcTIOA OF CORGAIZAMiN 29. 0WANIZATIO1AL 10 8. F sny RGANITIoN
3 SECURED AAE~ (or4 C r dAM of TOT ASSi3GNEE of A$SSIGNOR SiP) - kmn ~on tsacured pa~ny wme of~a b) 3&. ORGAMMIArI0NS NM" CITICORP VENDOR FINANCE, INC,
Olt39. *VMZIUAI.S LAST NiAME FUT NAME MJOO= NAME SUFFIX
X. MMJUNG A0QREBS CITY STATE IP0STALOOM COUNTRY 7165 SW FIR LOOP, SUITE 204 TIGARD OR 97223
=
q.1151 ?FKAIC3IG TATU&Z4T =WV bib bkcm4NiJ~di
An Equiamont now or hereafter [eased by Lessor to Lessee, uno all accessions, addIfona reaclanamani and subsilklons therato and tharallr and all proceedz Onlnuding insurance proceeoz) awereof. as more 6pocificaly Iden~tfirdd In the leave documentalln on Ole at thie offices of Lessor. LSE 2000327641
5 ALTWMIU4ANE 0011ONA'11ION 01'appicwe) 91.15SSEAESSR fCQN3IGNE=iCN340N0R f] Aa.5WUALOR []jUýIIYER "7AG. LEN [nWW=CCFIUNG
&-T3fCN T IUNT. los O0 1 , LaU D.hW Ob2I~
5. OPTIONAL. FLER REFERtENCE DXTA nho with. Iowa
F-231
-41
W-PO.BoximiFLING OFFICE COPY- NATtONAL %JCC FINAtICING STATEMENT (FORM UCCI) (Rev. 07reMg)
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In Re:
: CHAPTER 11 FANSTEEL, INC., et al.
: Case No. 02-10109 (JJF) Debtors
:_ Jointly Administered
ORDER FOR RELIEF FROM THE AUTOMATIC STAY PURSUANT TO 11 U.S.C. §362(d)(1),(2)
Upon the Motion of CitiCapital Commercial Corporation f/k/a Associates Commercial
Corporation, by and through its LCA Division and Citicorp Vendor Finance, Inc., under
Bankruptcy Code section 362(d) for relief from the automatic stay as to certain personal property
as hereinafter set forth and for cause shown,
IT IS on this _ day of ,2002, ORDERED that the automatic stay of
Bankruptcy Code section 362(a) is vacated to permit the Movant to pursue the Movant's rights in
the Equipment described in its Motion for Relief from Automatic Stay or, Alternatively, for
Adequate Protection, and in the manner provided by any applicable contract documents and non
bankruptcy law.
The Movant shall serve this Order on the debtor, the Trustee, the Official Unsecured
Creditors Committee and any other party who entered an appearance on the motion.
HONORABLE JOSEPH J. FARNAN, JR. United States District Court Judge
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In Re: : CHAPTER 11
FANSTEEL, INC., et al. : Case No. 02-10109 (JJF)
Debtors :_ Jointly Administered
Hearing Date:TBD (Only if objections are timely filed) Objection Deadline: October 25, 2002 at 4:00 p.m. E.S.T.
NOTICE OF MOTION FOR RELIEF FROM AUTOMATIC STAY OR, ALTERNATIVELY, FOR ADEQUATE PROTECTION
TO: SEE ATTACHED SERVICE LIST
CitiCapital Commercial Corporation f/k/a Associates Commercial Corporation, by and
through its LCA Division and Citicorp Vendor Finance, Inc. has filed a Motion for Relief from
Stay which seeks the following relief: relief from the automatic stay as to the Equipment
described therein or, alternatively, pursuant to §361 of the Bankruptcy Code requiring Debtor to
make periodic cash payments as adequate protection. A true and correct copy of the motion is
attached.
RESPONSES OR OBJECTIONS, IF ANY, TO THE RELIEF REQUESTED IN THE
MOTION MUST BE IN WRITING, FILED WITH THE BANKRUPTCY COURT, AND
SERVED UPON BOTH OF THE UNDERSIGNED COUNSEL FOR THE MOVANT SO AS
TO BE RECEIVED BY 4:00 P.M., EASTERN TIME, ON OCTOBER 25, 2002.
IF ANY OBJECTIONS ARE TIMELY FILED AND SERVED, A HEARING ON THE
MOTION MAY BE HELD AT A DATE AND TIME TO BE DETERMINED, BEFORE THE
HONORABLE JOSEPH J. FARNAN, JR., OF THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE. THE HEARING WILL BE HELD AT THE J.
I
CALEB BOGGS FEDERAL BUILDING, 844 N. KING STREET, WILMINGTON,
DELAWARE 19801. ONLY TIMELY FILED AND RECEIVED WRITTEN OBJECTIONS
WILL BE CONSIDERED BY THE COURT AT THE HEARING.
IF NO OBJECTIONS ARE TIMELY FILED AND SERVED IN ACCORDANCE
WITH THIS NOTICE, THE COURT MAY GRANT THE RELIEF REQUESTED IN THE
MOTION WITHOUT FURTHER NOTICE OR HEARING.
Dated: October 4, 2002 Wilmington, DE
FARR, BURKE, GAMBACORTA & WRIGHT A Professional Corporation
By: Is! John R. Weaver, Jr. JOHN R. WEAVER, JR. (No. 911) 831 North Tatnall Street, Suite 200 P.O. Box 510 Wilmington, Delaware 19899 (302) 428-1077
SERGIO I. SCUTERI (SS 0535) 211 Benigno Boulevard, Suite 201 Bellmawr, New Jersey 08031 (856) 931-1030
Attorneys for CitiCapital Commercial Corporation f/k/a Associates Commercial Corporation, by and through its LCA Division and CitiCorp Vendor Finance, Inc.
I
FANSTEEL, INC. 2002 SERVICE LIST
Vito I DiMiao Parcels, Inc. 4 East Seventh Street Wilmington, DE 19801
Adam G Landis, Esquire Klett Rooney Lieber & Schorling 1000 West Street, Suite 1401 Wilmington, DE 19801
John D. Demmy, Esquire 300 Delaware Avenue 8th Floor, Suite 800 Wilmington, DE 19801
William D. Sullivan, Esquire Elzufon Austin Reardon Tarlov & Mondell, PA 300 Delaware Avenue, 17* Floor PO Box 1630 Wilmington, DE 19899
Stephen Woloshin Carson Precision PO Box 82000' Phoenix. AZ 85071-2000
Peter S Clark 11, Esquire Reed Smith LLP 2500 One Liberty Place 1650 Market Street Philadelphia, PA 19103-7301
James R Curtiss Winston & Straw 1400 L Street, N.W. Washington, DC 20005-3502
Richard Lucy Brighton Properties 2401 East El Segundo Blvd, Ste. 430 El Segundo, CA 90245
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Tobery M. Daluz, Esquire Reed Smith LLP 1201 Market Street, Suite 1500 Wilmington, DE 19801
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Patrick M. Goy, Managing Director Lincoln Partners 181 West Madison Street, Ste 3750 Chicago, IL 60602
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Charles L. Finke, Esquire Assistant General Counsel Rhonda N Baird, Esquire Office of the General Counsel 1200 K Street, N W Washington, DC 20005-4026
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S. William Livingston, Jr Michael St Patrick Baxter Edward H. Rippey Covington & Burling 1201 Pennsylvania Ave, N.W Washington, DC 20004-2401
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Jeffrey S. Sabin, Esquire Mark A. Broude, Esquire Schulte, Roth & Zabel LLP 919 Third Avenue New York, NY 10022
Jeffrey N. Rich, Esquire Elizabeth Singer, Esquire Kirkpatrick & Lockhart LLP 125 1 Avenue of the Americas, 45th Floor New York, NY 10020-1104
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Allan H. lckowitz, Esquire Nossaman, Guthneer, Knox & Elliott, LLP 445 South Figueroa Street, 331st Floor Los Angeles, CA 90071
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Louis P. Rochkind, Esquire Frank Aiello, Esquire Jaffee, Raitt, Heuer & Weiss One Woodward Avenue, Suite 2400 Detroit, MI 48226
Marc Fenton. Esquire Bank One, NA I Bank One Plaza, 121t Floor Chicago, IL 60670
Paticia Schrage U S. Securities and Exchange Commission Northeast Regional Office 233 Broadway New York, NY 10279
Ellis Merschoff, Regional Administrator Attention: Dr. Blair Spitzberg U.S. Nuclear Regulatory Commission Region IV, Harris Tower 61 1 Ryan Plaza Drive, Suite 400 Arlington, TX 7601 1-8064
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Frances Gecker, Esquire Joseph D. Frank, Espuire Freeborn & Peters 311 South Wacker Drive, Suite 3000 Chicago, Illinois 60606-6677
a
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SIS/LB/emk 8/28/02 - FANSTEEL.LABELS.DOC
UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In Re:
CHAPTER 11 FANSTEEL, INC., et al.
Case No. 02-10109 (JJF) Debtors
Jointly Administered
ORDER FOR RELIEF FROM THE AUTOMATIC STAY PURSUANT TO 11 U.S.C. §362(d)(1),(2)
Upon the Motion of CitiCapital Commercial Corporation f/k/a Associates Commercial
Corporation, by and through its LCA Division and Citicorp Vendor Finance, Inc., under
Bankruptcy Code section 362(d) for relief from the automatic stay as to certain personal property
as hereinafter set forth and for cause shown,
IT IS on this ___ day of ,2002, ORDERED that the automatic stay of
Bankruptcy Code section 362(a) is vacated to permit the Movant to pursue the Movant's rights in
the Equipment described in its Motion for Relief from Automatic Stay or, Alternatively, for
Adequate Protection, and in the manner provided by any applicable contract documents and non
bankruptcy law.
The Movant shall serve this Order on the debtor, the Trustee, the Official Unsecured
Creditors Committee and any other party who entered an appearance on the motion.
HONORABLE JOSEPH J. FARNAN, JR. United States District Court Judge
I