Case No. 01-52840-399.United States Bankruptcy Court, E.D. Missouri, Eastern Division.
April 21, 2003
ORDER AUTHORIZING THE DEBTORS TO (i) ASSUME LEASE, AS AMENDED AND (ii) CONTINUE GUARANTY AGREEMENTS
BARRY SCHERMER, Bankruptcy Judge
Upon the motion dated March 19, 2003 (the “Motion”) of Tweco Products, Inc. (“Tweco”) and Thermadyne Holdings Corporation (“Thermadyne Holdings”), as debtors and debtors in possession, seeking an order authorizing (i) Tweco to assume a lease (the “Tweco Lease”), dated June 6, 1988, between Tweco and National Warehouse Investment Company (“National Warehouse”), as amended (the “Tweco Lease Amendment”) and (ii) continuation by Thermadyne Holdings of (a) the Continuing Lease Guaranty, dated June, 1988, between Thermadyne Holdings (as successor in interest to Palco Acquisition Company) and National Warehouse, as amended pursuant to that certain Amended and Restated Continuing Lease Guaranty, dated February 2, 1994 (the “Tweco Guaranty”), and (b) the Unconditional Guaranty of Payment and Performance, dated June 25, 2001, between Thermadyne Holdings and McCulloch S.A. de C.V. (“McCulloch”), as amended pursuant to that certain Consent and Agreement of Guarantor, dated July 1, 2002 (the “Tweco Mexico Guaranty” and, together with the Tweco Guaranty, the “Guaranty Agreements”), and the Court having jurisdiction to consider the Motion and the relief requested therein in accordance with 28 U.S.C. § 1334; and due notice of the Motion having been provided, and it appearing that no other or further notice need be
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provided; and the Court having determined that the relief sought in the Motion is in the best interests of the Debtors, their estates and all parties in interest; and upon the Motion and all of the proceedings had before the Court; and after due deliberation and sufficient cause appearing therefor, it is
ORDERED that the Motion is granted; and it is further
ORDERED that, pursuant to section 365(a) of title 11 of the United States Code (the “Bankruptcy Code”), Tweco is authorized to assume the Tweco Lease, as amended pursuant to the Tweco Lease Amendment, effective as of and subject to the occurrence of the Effective Date[1] of the Plan; and it is further
ORDERED that section 365(b) of the Bankruptcy Code is satisfied because the Debtors are current under the Tweco Lease and no prepetition cure amount is outstanding; and it is further
ORDERED that the continuation of the Guaranty Agreements by Thermadyne Holdings is approved pursuant to section 363(b) of the Bankruptcy Code, effective as of and subject to the occurrence of the Effective Date of the Plan; and it is further
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ORDERED that nothing in this Order or the Motion shall be construed as prejudicing Tweco or Thermadyne Holdings’ rights to dispute or contest the amount or validity of any claims against the Landlord arising in connection with the Leases and Lease Amendments under applicable non-bankruptcy law.
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