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1996, value of the equipment in category A, and as to the October
27, 1996, values of the equipment in categories B, C, and D. As
a result of the appraisal, Andantech accepted Comdisco’s
determination that the value of the equipment in categories B
through D did not exceed the principal plus accrued interest on
three of the balloon notes. Accordingly, on December 5, 1996,
Andantech executed a bill of sale of the equipment in categories B
through D to Comdisco. On December 12, 1996, Comdisco canceled
three of the balloon notes.
The three bills of sale that Andantech executed in 1996 (the
1996 bills of sale) conveyed to Comdisco the identical computers
that Andantech had acquired pursuant to the 1993 bill of sale. The
serial numbers on the 1996 bills of sale were identical to those on
the 1993 bill of sale. Thus, the 1996 bills of sale reflect that
Comdisco never replaced any of the computers (i.e., did not
substitute a different computer for any of the original Equipment).
As stated previously, the equipment lease provided that
Comdisco would pay an early termination supplement if it elected to
exercise its early termination option. Comdisco paid early
termination supplements of $289,076, $57,084, and $7,206. Pursuant
to Andantech’s operating agreement, Andantech made an early
termination distribution of $353,366 to EICI.
X. Dissolution of RD Leasing and Andantech
On May 1, 1997, RD Leasing was dissolved. On or about May 29,
1997, Andantech was dissolved.
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