Case No. 02-13533 (AJG), (Jointly Administered)United States Bankruptcy Court, S.D. New York.
December 23, 2003
ORDER GRANTING MOTION PURSUANT TO SECTION 365(A) FOR AUTHORITY FOR WORLDCOM TO ASSUME, AS AMENDED, CERTAIN EXECUTORY CONTRACTS WITH WILMINGTON TRUST COMPANY AND WILLIAM J. WADE (MCI OPERATIVE DOCUMENTS AND GUARANTY)
ARTHUR GONZALEZ, Bankruptcy Judge
Upon the Motion (the “Motion”)[1] of WorldCom, Inc. and certain of its direct and indirect subsidiaries, including MCI WorldCom Network Services, Inc. (“WorldCom”), for an order, pursuant to section 365(a) of the Bankruptcy Code, and Rule 6006 of the Federal Rules of Bankruptcy Procedure, authorizing WorldCom to assume, as amended, certain executory contracts with Wilmington Trust Company and William J. Wade (MCI Operative Documents and Guaranty); and it appearing that due notice of the Motion has been provided; and it further appearing that the relief requested in the Motion is in the best interests of the Debtors and their estates and creditors; and upon all of the proceedings had before the Court; and after due deliberation and sufficient cause appearing therefor, it is hereby:
ORDERED, that the Motion is hereby granted; and it is further
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ORDERED, that MCI WorldCom Network Services, Inc. is authorized and directed to execute the Amendment in its capacity as Lessee and MCI Communications Corporation is authorized and directed to execute the Amendment in its capacity as Guarantor; and it is further
ORDERED, that the MCI Operative Documents, as amended, and the Guaranty be, and they hereby are, assumed by WorldCom; and it is further
ORDERED, that WorldCom is authorized and directed to forthwith make a cure payment to Wilmington Trust Company and William J. Wade, as Lessor, in the amount of $19,234.43 (the “Cure Payment”) in accordance with the terms of the Amendment, and authorized and directed to forthwith make a payment to Wilmington Trust Company and William J. Wade in the amount of $8,500,000 (the “Restructure Fee”) in accordance with the terms of the Amendment; and it is further
ORDERED, that WorldCom is authorized to take all further action necessary or appropriate to effectuate the terms of the MCI Operative Documents, as amended, and the Guaranty; and it is further
ORDERED, that promptly after receipt of the Cure Payment and the Restructure Fee, Wilmington Trust Company and William J. Wade, as Lessor, and/or Electronic Data Systems Corporation, as Owner Participant, shall withdraw any proof of claim relating to pre-petition claims under the MCI Operative Documents against WorldCom, or its affiliates.
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