-74-
$100 million worth of equipment held under operating leases and
leasing, and other commercial finance receivables, and to assume
the nonrecourse indebtedness and other liabilities of
approximately $52 million to which such assets were subject. The
acquired assets represented over 98 percent of FIA's total assets.
45(...continued)
the Closing Date; and any instruments or collateral
securing the same and any equipment or property leased
or otherwise financed and files and other records owned
or in the possession of the Company or any of its
affiliates relating thereto. Such receivables shall
include (but not be limited to) all lease agreements,
conditional sale contracts, notes, evidences of
indebtedness, personal guarantees, corporate
guarantees, letters of credit and other documents
representing or backing up such receivables.
Receivables shall not, in any event, include Excluded
Assets.
The term "Assets" shall mean the Receivables; equipment
or other property held in inventory for future sale or
lease; all furniture, fixtures, equipment and the
Company's rights in leasehold improvements; leasing and
lending transactions in process for prospective lessees
or borrowers and the related files, applications and
other documentation; the Company's general partnership
interests in partnerships and co-ownership interests in
participation or like arrangements, its rights to
receive fees, distributions and other revenues
therefrom in the future, and any rights it has under
management or supplier agreements related thereto; and
any other assets owned by the Company on the Closing
Date, other than Excluded Assets.
The "Excluded Assets" that NFR did not acquire consisted
solely of notes receivable and any other amounts due FIA from its
affiliates and other related parties as of the closing date. As
of Dec. 31, 1988, notes receivable were $192,708, and amounts due
FIA from its affiliates or other related parties were $540,520.
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