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at the end of the wrap lease and user lease. The purchase
agreement contained the identical indemnification provision as
the Hambrose-Charterhouse purchase agreement.
In conjunction with the partnership's purchase of the
initial equipment, Hambrose assigned to the partnership the
initial equipment wrap lease, as a result of which the 85
consecutive monthly rent payments of $6,287.99 each would be paid
to the partnership.
The Additional Equipment
Comdisco purchased certain additional IBM computers (the
additional equipment). It financed the purchase of some of the
additional equipment, amounting to $10,581,596.75 on a
nonrecourse basis through five different third-party lenders.
Comdisco paid cash for the rest of the additional equipment, but
the parties have no record of the exact amount of this payment.
Comdisco leased the additional equipment to seven different end
users.
Charterhouse purchased the additional equipment from
Comdisco for a total purchase price of $14,993,873.3 The
purchase price was a combination of cash payments, promissory
notes, and the assumption of Comdisco's financial obligations
with respect to some of the additional equipment. These notes
3 Presumably the difference between this figure and the
amount of Comdisco's financing is accounted for by the cash
payments for the additional equipment.
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Last modified: May 25, 2011