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Lessor or anyone else for any reason whatsoever". The annual
fixed rental payments due Hambrose from Charterhouse under the
Additional Equipment Wrap Lease were identical to the installment
payments due Charterhouse from Hambrose under the installment
note described above.7
Immediately following the purchase of the Additional
Equipment by Hambrose, the partnership purchased the Additional
Equipment from Hambrose for $15,420,834, subject to all other
liens and leases, including those of the original third-party
lenders, the original purchasers, Hambrose and Charterhouse, and
subject to the Additional Equipment Wrap Lease, the original
purchaser leases, and the end-user leases. The $15,420,834
purchase price was paid by $1,542,083 in cash, and the remaining
$13,878,751 by a Limited Recourse Installment Promissory Note
(Limited Recourse Note), which was secured by the Additional
Equipment, bears a 14-percent per annum interest and payable in
eight installments with the first installment of $921,917 due at
the time of closing. The remaining installment payments were due
as follows:
7 The figures for these rental payments listed on the
Additional Equipment Wrap Lease submitted into evidence differ
slightly from those figures listed in the Stipulation of Facts
signed by the parties. However, since the exact amount of these
figures is not pertinent to our determination of the issues in
this case, the Court hereby accepts the figures listed in the
Stipulation of Facts signed and submitted by the parties.
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