Case No. 02 B 48191 (Jointly Administered).United States Bankruptcy Court, N.D. Illinois, Eastern Division.
August 8, 2005
ORDER
EUGENE WEDOFF, Bankruptcy Judge
Upon the emergency motion (the “Motion”)[1] of the Debtors in the above-captioned Chapter 11 cases, for entry of an order authorizing the Debtors to (i) purchase the senior tranche holdings with respect to the 1997-1 EETC Transaction and (ii) pay certain initial fees to JPMorgan Chase Bank, N.A. (“JPMorgan”); proper notice having been given considering the emergency nature of the relief requested; all interested parties having been afforded an opportunity to be heard with respect to the Motion and all relief related thereto; the Court having reviewed and considered the Motion and the objections thereto, if any; and after due deliberation thereon; and good and sufficient cause appearing therefor;
The Court, having considered the relief requested in the Motion and being duly advised of the premises, hereby finds that
A. Purchase of the Class A Certificates by United constitutes sound business judgment and is in the best interests of the Debtors, their estates and their creditors.
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B. The Debtors have full corporate power and authority to execute, deliver and perform all other documents and agreements necessary to consummate the purchase of the Class A Certificates and no further consents or approvals are required.
It is therefore ORDERED ADJUDGED, AND DECREED THAT:
1. The Motion is granted.
2. The Debtors are authorized to purchase the Class A Certificates.
3. The Debtors are authorized to execute and deliver, without further need of Court order, agreements and instruments as shall be necessary or appropriate to reflect and constitute definitive agreements and documentation of the purchase of the Class A Certificates.
4. The Debtors are authorized to take all actions necessary to effectuate the purchase of the Class A Certificates. Each authorized signatory of the Debtors, acting singly, is hereby authorized to execute and deliver any and all other documents or agreements relating to or necessary to consummate said purchase, such execution and delivery to be conclusive of such signatory’s authority to act in the name of and on behalf of the Debtors, without the need for further Court order or approval.
5. The Debtors are authorized to pay the Initial Fees to JPMorgan.
6. Notwithstanding the possible applicability of Bankruptcy Rules 4001(a)(3), 6004(g), 7062, 9014 or otherwise, this Order shall take effect immediately upon entry.
7. This Court shall retain jurisdiction to hear and determine all matters arising from the implementation of this Order.