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(the "Past Due Sum"). The amount of principal and
interest so deferred will become due and payable at
such time as, and to the extent that, Maker receives
from Charterhouse the Past Due Sum; provided, however,
that no interest shall accrue on the principal and
interest payments so deferred; provided, further,
however, that the amount of interest and principal so
deferred shall become due and payable on Jan. 1, 1992;
whether or not Maker shall have received the Past Due
Sum on or before such date.
In conjunction with the partnership's purchase of the initial
equipment, Hambrose assigned the initial equipment wrap lease to
the partnership.
Additional Equipment
CIS and Comdisco purchased additional IBM equipment (the
additional equipment). They financed the purchase of the
additional equipment, amounting to $15,175,231, through eight
different third-party lenders. All of the additional equipment
was leased by CIS and Comdisco to eight actual end users of the
equipment.
Charterhouse Purchase
The second purchaser acquired the additional equipment from
CIS and Comdisco in two separate purchase transactions. All
rights and obligations under these transactions were subsequently
assigned to Charterhouse. The second purchaser paid, in the
aggregate, cash of $1,004,538 and installment notes totaling
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