[Federal Register Volume 63, Number 58 (Thursday, March 26, 1998)]
[Notices]
[Pages 14709-14713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-7986]
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FEDERAL COMMUNICATIONS COMMISSION
[DA 98-547]
Request Submission of Superior Alternatives to Proposed Agreement
to Resolve Pocket Commissions Bankruptcy; Pocket Communications, Inc.,
No. 97-5-4105-ESD, and In re DCR PCS, Inc., No. 97-5-4106-ESD (Jointly
Administered Under No. 97-5-4105-ESD)
March 23, 1998.
Subject to higher and better alternatives, the Commission staff, in
coordination with the staff of the Department of Justice, Civil
Division, expects to recommend a proposed transaction (``Proposed
Transaction'') that would resolve the above-referenced bankruptcy
proceeding involving DCR
[[Page 14710]]
PCS, Inc., and Pocket Communications, Inc. (collectively ``Pocket'').
The purpose of this Public Notice is to begin the process for receiving
alternative proposals and evaluating whether any of them constitutes a
better alternative for the United States.
Appended hereto as Attachment are portions of a term sheet
describing the Proposed Transaction. Key terms include the following:
(1) a newly formed entity would acquire the FCC licenses of DCR PCS,
Inc., that comprise the Dallas and Chicago MTAs; (2) license payments
for authority to operate in those markets would be made to the United
States in accordance with Schedule 5.1.1 to the attached term sheet;
(3) all other licenses of DCR PCS, Inc., would be returned to the FCC;
and (4) the Pocket bankruptcy proceedings would be resolved.
Parties interested in offering superior alternative proposals to
the Proposed Transaction are requested to do so in writing by May 7,
1998. Parties submitting superior alternatives must demonstrate
compliance with the Commission's rules and policies governing PCS C
Block eligibility and ownership. See 47 CFR 24.2110 and 24.709. Prior
to Commission staff entering into discussions or accepting a submission
by a party, the party must represent in writing to the Commission that
doing so would not contravene any agreement with the DIP Lenders (as
defined in the attached term sheet).
Neither this Public Notice nor any proposals responsive thereto or
discussions of such proposals shall constitute the solicitation of
votes as to a plan of reorganization in the Pocket cases or the filing
of such a plan, each of which shall be subject to the provisions of the
Bankruptcy Code and related bankruptcy procedures.
Written alternatives to the Proposed Transaction should be
submitted to the Office of General Counsel, 1919 M Street, N.W.,
attention: David E. Horowitz, Esq., Room No. 622, Stop Code 1440B,
Washington, DC 20554.
For further information, please contact FCC Wireless
Telecommunications Bureau staff at (717) 338-2888.
Federal Communications Commission.
Magalie Roman Salas,
Secretary.
Attachment--Summary of Terms for Proposed Plan of Reorganization of
Pocket Communications, Inc.
1 Purpose
1.1 Each of Ericsson, Inc. (``Ericsson''), Masa Telecom, Inc.
(``MTI''), Pacific Eagle Investments, Ltd. (``PEIL''), Pacific Eagle
Investment (L) Limited (``PEILL''), Masa Telecom Asia Investment Pte
Ltd. (``MTAI'') (collectively, ``Masa/Pacific Eagle''), and Siemens
Telecom Networks (``Siemens'') (together with Ericsson and Masa/Pacific
Eagle, the ``DIP Lenders'') has decided to develop and file a plan of
reorganization (the ``Plan'') with the U.S. Bankruptcy Court (the
``Court'') for DCR PCS, Inc. (``DCR'') and Pocket Communications, Inc.
(``Pocket'' and together with DCR ``the Debtors''). Among other issues,
the Plan will provide for the disposition of the licenses
(collectively, the ``Licenses'') issued by the Federal Communications
Commission (``FCC'') to DCR for providing personal communications
services (``PCS''). This Summary of Terms (the ``Term Sheet'') sets
forth the framework for the Plan.
1.2 This Term Sheet was prepared for discussion purposes only and
is not to be construed as a commitment to invest, to lend money, or to
provide vendor financing. It is a summary of the terms upon which the
DIP Lenders expect to submit this transaction for corporate approval
from each of their respective boards or principals, and it is subject
to negotiation with and consent of the United States and potential
Designated Entities, as well as agreement to terms of final
documentation. Neither this Term Sheet nor the Plan shall bind the FCC
to approve the transactions contemplated by the Term Sheet or the Plan.
2 Overview of the Plan
2.1 Subject to Sections 7.8 and 7.9, on the effective date of the
Plan (the ``Effective Date''), in exchange for payment of certain cash
and entry into the agreements specified below:
2.1.1 DCR shall transfer the Licenses for the Chicago MTA
(hereinafter, the ``Chicago Licenses'') and the Licenses for the Dallas
MTA (hereinafter the ``Dallas Licenses'') to certain subsidiaries of
NEWGSM Co. to be formed as provided in Section 3.3 (the ``New
Licensees'');
2.1.2 All Licenses except the Chicago Licenses and the Dallas
Licenses shall automatically cancel pursuant to section 10.7 hereof;
and 2.1.3 Debtors shall transfer all their assets other than the
Licenses to NEWGSM Co. or subsidiaries thereof other than the New
Licensees.
2.2 All terms of this Term Sheet except the Confidential
Provisions shall be included in a public version of the Term Sheet (the
``Public Version Term Sheet'').
3 Transfer of the Chicago and Dallas Licenses
3.1 The DIP Lenders will cause a new company, NEWGSM Co., to be
formed prior to the Effective Date.
3.2 The DIP Lenders will cause NEWGSM Co. to create operating
subsidiaries (the ``Operating Subsidiaries'') of NEWGSM Co. prior to
the Effective Date. The Operating Subsidiaries shall conduct the
business operations of NEWGSM Co. and its direct and indirect
subsidiaries for the provision of PCS in the Chicago and Dallas MTAs.
3.3 The DIP Lenders will cause NEWGSM Co. to create the New
Licensees prior to the Effective Date as wholly owned subsidiaries of
NEWGSM Co. for the sole purpose of holding the Chicago Licenses and the
Dallas Licenses.
3.4 Vendor financing (as specified in Sections 4.3 and 8.2,
``Vendor Financing'') will be provided to one or more Operating
Subsidiaries.
3.5 NEWGSM Co. will be controlled by a new ``Control Group,'' as
defined by the FCC's rules.
3.6 [Intentionally omitted]
3.7 Each New Licensee shall comply with all FCC rules and
regulations, including those relating to C-Block and C-Block
eligibility; provided, however, that to the extent any New Licensee is
unable to satisfy said rules and regulations, it may seek a waiver from
the FCC in connection with the transactions contemplated by this Term
Sheet.
4 Capital: By the date (the ``Confirmation Date'') on which the
Court enters an order (the ``Confirmation Order'') confirming the Plan,
NEWGSM Co. will have the following commitments for capital conditioned
solely upon the occurrence of the Effective Date:
4.1 COMMON EQUITY:
4.1.1 the ``Initial Equity Investment''
4.1.2 [Redacted]
4.1.3 [Redacted]
4.1.4 [Redacted]
4.1.5 [Intentionally omitted]
4.2 Subordinated Debt:
4.2.1 the ``Initial Purchase Commitment''
4.2.2 [Redacted]
4.3 Vendor Financing:
4.3.1 [Redacted]
5 Assumed Debt: As part of the Plan, the DIP Lenders shall cause
the following obligations to be assumed on the Effective Date in the
manner set forth below:
5.1 FCC License Payments:
5.1.1 The New Licensees shall make quarterly payments to the
United States
[[Page 14711]]
in accordance with Schedule 5.1.1 attached hereto to hold the Chicago
and Dallas Licenses and to satisfy the obligation to the United States
originally incurred as a result of the initial issuance to DCR of the
Chicago and Dallas Licenses. All payments specified in this section
5.1.1, whether matured or unmatured, shall be known as the ``FCC
License Payments.''
5.1.2 Each Chicago and Dallas License shall incorporate a payment
schedule specific to that License. Each such License's quarterly
payment shall be for an amount equal to the quarterly payment shown on
Schedule 5.1.1 times the POP Ratio for the BTA for that License. ``POP
Ratio'' means, for each of the Chicago and Dallas Licenses, the
percentage equaling the number of POPs in that BTA divided by the total
number of POPs in the Chicago and Dallas MTAs. The FCC License Payments
scheduled to be made after November 4, 2006 (the ``Extended Payments'')
may be prepaid at a discount rate of 6.5 percent prior to the date on
which the Chicago and Dallas Licenses are scheduled to expire by their
terms. Any Extended Payments not made by November 4, 2006 shall be
included in the renewed Chicago or Dallas License (each, a ``Renewed
License'') to which it relates. Each Chicago and Dallas License and
each Renewed License shall provide that if full and timely payment of
the FCC License Payment to be made thereunder is not made, the License
shall automatically cancel to the extent provided in FCC rules and
regulations.
5.1.3 All obligations of the New Licensees to make the FCC License
Payments shall be secured in accordance with the same terms and
conditions set forth in sections 1 and 2 of the original FCC Broadband
Personal Communications Service, C-Block Security Agreement executed by
DCR for the Licenses, except for changes necessary to accommodate the
structure of the FCC License Payments. Each member of the NEWGSM Co.
Corporate Family and each Vendor shall execute an agreement covenanting
not to bring any suit or take any other action, other than applying for
relief at the FCC, to prevent the United States or the FCC from
collecting all FCC License Payments, or from canceling any of the
Chicago Licenses, the Dallas Licenses or the Renewed Licenses under the
terms provided therein.
5.1.4 NEWGSM Co. and each of its direct and indirect subsidiaries
(the ``NEWGSM Co. Corporate Family'') shall guarantee the obligation of
each New Licensee to make the FCC License Payments.
5.1.5 Each of the Chicago Licenses (the ``Chicago Asset Pool'')
shall secure payment of the FCC License Payments arising under the
Chicago Licenses, and failure to make a timely payment of an FCC
License Payment arising under one of the Chicago Licenses shall be a
payment default on only the Chicago Asset Pool. Each of the Dallas
Licenses (the ``Dallas Asset Pool'') shall secure payment of the FCC
License Payments arising under the Dallas Licenses, and failure to make
a timely payment of an FCC License Payment arising under one of the
Dallas Licenses shall be a payment default on only the Dallas Asset
Pool. Any default on the FCC License Payments for the Chicago Licenses
shall not be a default on FCC License Payments for the Dallas Asset
Pool. Any default on the FCC License Payments for the Dallas Licenses
shall not be a default on FCC License Payments for the Chicago Asset
Pool.
5.1.6 Except for changes which are necessary to accommodate the
structure of the FCC License Payments, the events of default for the
FCC License Payments and cure periods therefor shall be the same as
specified in the FCC Installment Payment Plan Note for Broadband
Personal Communications Services, C-Block executed by DCR.
5.1.7 Transfer of any of the Chicago or Dallas Licenses shall be
subject to approval by the FCC. If, with FCC approval, any of the New
Licensees transfers one of the Chicago Licenses out of the Chicago
Asset Pool or one of the Dallas Licenses out of the Dallas Asset Pool,
then in exchange for the United States' release of any further FCC
License Payments for that License, the New Licensee shall pay or have
paid for it an amount equal to the present value of the remaining FCC
License Payments for that License at a discount rate of 6.5 percent,
together with any unjust enrichment payment obligations incurred under
FCC regulations.
5.2 [Intentionally omitted]
5.3 NEWGSM Co. will assume $158 million of certain of the DIP
Lenders' pre-petition secured and unsecured claims against the Debtors'
estates on terms acceptable to the DIP Lenders.
6 Terms and Conditions for Chicago Licenses and Dallas Licenses
6.1 Except as modified hereby or otherwise agreed upon by the
parties, the same terms and conditions applicable to C-Block licensees,
including without limitation the build-out benchmarks and license
renewal provisions, shall apply to the Chicago Licenses and Dallas
Licenses upon assignment to the New Licensees.
7 Timing of Plan Proposal and Confirmation Date, and of Investments
and Note Purchases
7.1 Each of the DIP Lenders shall use its best efforts to file the
Plan with the Court by March 31, 1998 (the ``Plan Filing Deadline'').
Each of the DIP Lenders shall be a co-proponent of the Plan.
7.2 If DCR desires to elect any restructuring option under the C
Block Order (as amended from time to time), it shall indicate in
writing which of the options it prefers by the earlier of (i) the
deadline for making such an election in the C Block Order as amended or
in any other extension connected with the election of the options that
the FCC permits and that applies to DCR, (ii) the thirtieth calendar
day after the Termination Date (as defined in Section 7.3.1 below), or
(iii) the thirtieth calendar day after Confirmation Deadline if the
Confirmation Date has not occurred by the Confirmation Deadline (as
defined in Section 7.3 below). The Plan shall provide that upon
occurrence of the Effective Date, (i) the Debtors' right to elect any
of the restructuring options offered to C-Block licensees shall
terminate, and (ii) any of the Debtors' previous elections under the C
Block Order shall be deemed null and void. Any disposition of Licenses
in connection with any DCR election pursuant to the C Block Order shall
be subject to applicable law.
7.3 [Redacted]
7.3.1 The DIP Lenders may terminate the Plan if the FCC has not
approved the transfer of the Chicago Licenses and Dallas Licenses to
the New Licensees (the ``FCC Grant'') by the earlier of 150 days after
the approval of the Disclosure Statement or December 31, 1998 (the
``Termination Date''), or if the FCC Grant has occurred by the
Termination Date but is subject to a stay.
7.4 By the date scheduled for the hearing on the Disclosure
Statement, each of the DIP Lenders shall have obtained, among other
things:
7.4.1 All requisite approvals within each of their respective
organizations to take all actions contemplated herein to be taken by
them provided only that the Effective Date conditions specified in
Section 12.2 below are met; and
7.4.2 [Redacted]
7.5 By the Confirmation Date, the DIP Lenders and the DE shall
execute commitment letters, binding unless the Effective Date does not
occur, to provide funds necessary to confirm the Plan to capitalize
NEWGSM Co. without resort to third-party financing of any kind. Such
commitments shall not preclude
[[Page 14712]]
NEWGSM Co. from obtaining new or additional financing from other
sources, reasonably acceptable to the DIP Lenders and the United
States, provided (x) the payment terms, security and other rights of
the United States, and the credit quality of the obligor, are not
adversely changed, and (y) such financing is consistent with applicable
law, including any applicable FCC regulations.
7.6 [Intentionally omitted]
7.7 The DIP Lenders and the United States shall jointly move for
an order by the Court, and if any objection thereto is filed, shall
present evidence, that the United States and the FCC have not defaulted
on any obligation under the DIP Order and the related FCC Term Sheet.
By the date three business days prior to the date on which ballots on
the Plan are due, the United States shall have obtained an order of the
Court that the United States and the FCC have not defaulted on any
obligation under the DIP Order and the related FCC Term Sheet.
7.8 The United States shall determine, in its sole discretion,
whether the United States believes there exists a higher and better
alternative (the ``Alternative'') to the Plan. The United States is
free to accept any such Alternative instead of the Plan. In determining
whether an Alternative exists:
7.8.1 For Sixty (60) days from the date of this Term Sheet, the
United States and the FCC may negotiate with any person about
alternative proposals for reorganizing the Debtors, and may reveal to
any such person any information that the FCC deems appropriate to
disclose (including without limitation, all provisions of this Term
Sheet) except the Confidential Provisions (as defined in Section
7.8.2);
7.8.2 Neither the United States nor the FCC will reveal (i) any
business plan or draft thereof provided to it or them by the DIP
Lenders in connection with the negotiation of this Term Sheet, (ii) any
provision of the Term Sheet other than those set forth in the Public
Version Term Sheet, Exhibit 2.2 hereof, (items (i) and (ii), the
``Confidential Provisions'');
7.8.3 As of the date of this Term Sheet, the FCC may publish in
the customary ways a public notice that (i) discloses the Public
Version Term Sheet, (ii) indicates that any person who desires to
propose or discuss an alternative to the Plan must first represent in
writing to the FCC that doing so would not contravene any agreement
with the DIP Lenders, and (iii) discusses the other procedures for
submitting alternatives to the Plan to the FCC, but otherwise, except
as expressly authorized in writing by the DIP Lenders or to any extent
required by law, neither the United States nor the FCC will solicit an
alternative proposal to the Term Sheet by any of the following means:
(i) commissioning any advertisement, (ii) running any notice in any
federal publication or (iii) issuing any press release.
7.9 Nothing contained herein shall require the DIP Lenders to vote
in favor of the Alternative.
8 Terms of New Debt Securities
8.1 [Intentionally omitted]
8.2 Vendor Financing: [Redacted]
8.3 Subordinated Notes: [Redacted]
8.4 Dip Lenders Claim Notes: [Redacted]
9 Vendor Undertakings
The vendors will provide NEWGSM Co. with PCS equipment and services
necessary to build an operational PCS service using the GSM mode of
signal transmission for the Chicago Licenses and the Dallas Licenses.
NEWGSM Co. shall purchase all PCS equipment and services for the
Chicago Licenses from Ericsson, and all PCS equipment and services for
the Dallas Licenses from Siemens.
10 Reorganization of the Residual Debtor Estates
10.1 Allowed administrative expenses shall be paid as follows:
10.1.1 On the Effective Date, the DIP Lenders shall lend to the
Debtors' estates, on the same terms and conditions as the original DIP
Loan (except as to maturity, repayment and as otherwise modified
herein), an additional amount (the ``Additional Loan'') not to exceed
$5.5 million to pay in full all unpaid administrative expenses other
than the original DIP Loan and the Additional Loan.
10.1.2 On the later of the Effective Date or when otherwise
allowed, administrative claims shall be paid to the extent allowed by
the Court (``Allowed Administrative Claims'').
10.1.3 On the Effective Date, NEWGSM Co. shall assume and repay to
the DIP Lenders the DIP Loan and the Additional Loan, plus accrued
interest and charges, and the DIP Lenders shall waive payment of the
DIP Loan by the Debtors and by the United States (including the FCC)
under the terms of the existing DIP Loan Order and documentation.
10.2 On the Effective Date, NEWGSM Co. shall pay to the Pocket
estate $5.5 million less the amount of Allowed Administrative Claims,
for payment of distributions to the unsecured creditors, other than the
DIP Lenders in accordance with section 10.6.
10.3 [Intentionally omitted]
10.4 [Intentionally omitted]
10.5 On the Effective Date, NEWGSM Co. will assume $158 million of
the DIP Lenders' pre-petition secured and unsecured debt against the
Debtors' estates, as provided in Section 8.4.
10.6 After the DIP Loan, Additional Loan and Allowed
Administrative Claims are indefeasibly paid in full, the DIP Lenders
will permit the unsecured creditors, other than the DIP Lenders, to
share pro rata in the remaining funds described in section 10.2 above,
ahead of the remaining unsecured claims of the DIP Lenders, which are
approximately $20 million.
10.7 On the Effective Date, Licenses except the Chicago Licenses
and the Dallas Licenses shall automatically be canceled, and the
Debtors and certain others shall be released from obligations to the
United States related to the Licenses as provided in Section 11.2
below.
10.8 NEWGSM Co. shall comply with section 1123(a)(6) of the
Bankruptcy Code in issuing equity and warrants.
11 Releases
11.1 On the Effective Date, each of the Debtors, and each of their
successors and assigns, on its own behalf and on behalf of each of its
present and former officers, directors, trustees, managers, employees,
agents, attorneys, accountants, and consultants, shall release, waive,
compromise and settle any and all rights, claims and causes of action
that each has, has had or at any time in the future may have against
any of the United States, the FCC, the DIP Lenders or any present or
former commissioner, employee, agent, attorney, financial advisor or
consultant of the United States, the FCC, or the DIP Lenders with
respect to or arising in any way in connection with or as a result of
any of the Licenses, or any of Debtors' notes, security agreements, or
other instruments to the United States, the FCC, or the DIP Lenders, or
financial accommodations at any time furnished to or for the benefit of
either of the Debtors, including without limitation, any claim under
any state or federal fraudulent transfer, fraudulent conveyance,
preference or similar law. If the Effective Date does not occur, the
releases for which this paragraph provides shall be deemed null and
void.
11.2 On the Effective Date, the United States (including the FCC)
will release all claims and causes of action (other than tax, criminal
or fraud claims) that it has, has had or at any time in the future may
have against any
[[Page 14713]]
of the DIP Lenders, the Debtors, the Debtors' estates, or any of its or
their present or former officers, directors, trustees, managers,
employees, agents, attorneys, financial advisors and consultants, with
respect to or arising in any way in connection with or as a result of
the Licenses, or any of Debtors' notes, security agreements, or other
instruments to the United States or the FCC, or financial
accommodations at any time furnished to or for the benefit of either of
the Debtors; provided, however, that all claims and rights of the
United States or the FCC under the Plan and the documents delivered to
the United States or the FCC in connection with the Plan are expressly
excluded from the foregoing release. If the Effective Date does not
occur, the releases for which this paragraph provides shall be deemed
null and void.
11.3 On the Effective Date, each of the DIP Lenders, and each of
their successors and assigns, on its own behalf and on behalf of each
of its present and former officers, directors, trustees, managers,
employees, agents, attorneys, accountants, and consultants, shall
release, waive, compromise and settle any and all rights, claims and
causes of action that each has, has had or at any time in the future
may have against the United States, the FCC, the Debtors, or any
present or former commissioner, employee, agent, attorney, financial
advisor or consultant of any of them, with respect to or arising in any
way in connection with or as a result of the Licenses, or any of
Debtors' notes, security agreements, or other instruments to the United
States, the FCC, or the DIP Lenders, or financial accommodations at any
time furnished to or for the benefit of either of the Debtors,
including without limitation, any claim under any state or federal
fraudulent transfer, fraudulent conveyance, preference or similar law;
provided that all claims and rights of the DIP Lenders or NEWGSM Co.
under the Plan and the documents delivered to the DIP Lenders or NEWGSM
Co. in connection with the Plan are expressly excluded from the
foregoing release. If the Effective Date does not occur, the releases
for which this paragraph provides shall be deemed null and void.
11.4 On the Effective Date, each unsecured creditor and
administrative claimant of the Debtors, and each of their successors
and assigns, on its own behalf and on behalf of each of its present and
former officers, directors, trustees, managers, employees, agents,
attorneys, accountants, and consultants, shall release, waive,
compromise and settle any and all rights, claims and causes of action
that each has, has had or at any time in the future may have against
the United States, the FCC, each of the DIP Lenders, or any present or
former commissioner, employee, agent, attorney, financial advisor or
consultant of any of them, with respect to or arising in any way in
connection with or as a result of the Licenses, or any claim against,
or administrative expense of, either of the Debtors; provided that such
releases shall not apply to the rights of unsecured creditors and
administrative claimants to payments under the Plan and Confirmation
Order. If the Effective Date does not occur, the releases for which
this paragraph provides shall be deemed null and void.
12 Effective Date Timing and Conditions
12.1 The Effective Date shall occur on the later of (i) eleventh
calendar day after the Confirmation Date, and (ii) the date on which
the conditions precedent to the effectiveness of the Plan have been
fulfilled or waived in accordance with the Plan; provided that if such
day is a Saturday, a Sunday, or a legal holiday specified in Fed. R.
Civ. P. 6(a), then the Effective Date shall occur the next calendar day
that is not a Saturday, a Sunday, or a legal holiday specified in Fed.
R. Civ. P. 6(a).
12.2 In addition to the provisions of section 12.1, the occurrence
of the Effective Date shall be subject to the occurrence of each of the
following conditions:
12.2.1 The Confirmation Order shall have been entered in form and
substance satisfactory to the United States and the DIP Lenders, and
shall not be the subject of a stay; and
12.2.2 The FCC Grant shall have been entered and such order shall
not be the subject of a stay.
Schedule 5.1.1--Schedule of Payments Under the FCC Obligation
------------------------------------------------------------------------
Payment Total payment
------------------------------------------------------------------------
10/1998.............................................. \1\ $5,826,000
1/1999............................................... 5,826,000
4/1999............................................... 5,826,000
7/1999............................................... 5,826,000
10/1999.............................................. 5,826,000
1/2000............................................... 5,826,000
4/2000............................................... 5,826,000
7/2000............................................... 5,826,000
10/2000.............................................. 5,826,000
1/2001............................................... 5,826,000
4/2001............................................... 5,826,000
7/2001............................................... 5,826,000
10/2001.............................................. 5,826,000
1/2002............................................... 5,826,000
4/2002............................................... 5,826,000
7/2002............................................... 5,826,000
10/2002.............................................. 5,826,000
1/2003............................................... 23,541,000
4/2003............................................... 23,541,000
7/2003............................................... 23,541,000
10/2003.............................................. 23,541,000
1/2004............................................... 23,541,000
4/2004............................................... 23,541,000
7/2004............................................... 23,541,000
10/2004.............................................. 23,541,000
1/2005............................................... 23,541,000
4/2005............................................... 23,541,000
7/2005............................................... 23,541,000
10/2005.............................................. 23,541,000
1/2006............................................... 23,541,000
4/2006............................................... 23,541,000
7/2006............................................... 23,541,000
10/2006.............................................. 23,541,000
1/2007............................................... 613,438
4/2007............................................... 613,438
7/2007............................................... 613,438
10/2007.............................................. 613,438
1/2008............................................... 613,438
4/2008............................................... 613,438
7/2008............................................... 613,438
10/2008.............................................. 38,363,438
------------------------------------------------------------------------
\1\ If the payment due at the end of October 1998 is for less than a
full quarter, the payment will be pro rated based on 12 thirty-day
months.
[FR Doc. 98-7986 Filed 3-25-98; 8:45 am]
BILLING CODE 6712-01-P
