1
EXHIBIT 10.1
October 11, 1996
GSS Partners, L.P.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx
Gentleman:
This letter sets forth our understanding pursuant to which the
Aerospace Creditors Liquidating Trust (the "Trust") will license from you the
use of certain facilities and services.
Facilities
Facilities licensed will consist of exclusive use of one "two window"
office previously identified, together with the non-exclusive use of the
conference room, file room, secretarial space and other "common" areas.
Facilities will also include non-exclusive use of existing copying, facsimile
and computing equipment.
Services
Services will consist of the availability and use (subject to normal
absences and vacations) of Xxxxx Xxxxxxxxx (or a mutually agreeable successor),
on a non-exclusive basis estimated to be up to one-half of her time, for
functions similar in nature to those currently provided by her to you and
previously provided by her to the Trust.
Telephone and Mail
The Trust will be entitled to use the existing telephone system,
provided that the cost of installing any trunk lines necessary to provide
separate telephone numbers and any long distance charges will be for the
Trust's account. Similarly, the Trust will pay the cost of any mail, express
delivery and supplies used by it, as well as the cost of installing an
appropriate hallway sign.
License Fee
The license fee for the facilities and service to be provided will be
at the rate of $75,000 per year (pro-rated for periods of less than a year) and
will be payable monthly.
2
Term
The term of this license agreement commenced effective October 1, 1996
and will continue until October 1, 1997; provided however, that after April 1,
1997, the Trust may cancel the license upon ninety (90) days written notice to
you.
Please sign below to indicate your agreement to and acceptance of the
foregoing.
Sincerely,
AEROSPACE CREDITORS LIQUIDATING TRUST
By: /s/ XXXX X. XXXXXXXX
-----------------------------------------
Xxxx X. Xxxxxxxx, Trustee
Agreed and accepted:
GSS PARTNERS, L.P.
By: /s/ XXXXXX XXXXX, XX.
-------------------------------------
Title: Managing Director
