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To: scion who wrote (11141)8/31/2007 4:14:06 PM
From: scion  Respond to of 12518
 
IT IS FURTHER ORDERED that related Debtor Pro Mold, Inc. shall comply with any and all terms of the Agreed Order on Debtor’s Amended Emergency Motion to Use Cash Collateral (“Cash Collateral Order”) that was signed and entered on May 31, 2007 (Doc. 53) in Case No. 07-50935.

If Debtor Pro Mold, Inc. fails to comply with any terms of the Cash Collateral Order the following shall occur:


a) The Murphy Entities shall file a Notice of Breach with the Clerk of the United States Bankruptcy Court and e-mail a copy of the Notice of Breach to Debtor Pro Mold and Debtor Pro Mold’s attorney and any Committee counsel.

b) Debtor Pro Mold shall have five (5) days from the date the Notice of Breach is e-mailed to cure the default.

c) Debtor Pro Mold must file a Notice of Cure with the Clerk of the United States Bankruptcy Court and deliver a copy of the Notice of Cure to the attorney for the Murphy Entities within five (5) days from the date the Notice of Breach is emailed.

d) If the default is Debtor Pro Mold making an expenditure relating to a non-budgeted item including capital improvements, without the prior written approval of the Murphy Entities or the Court’s prior written authorization, the Notice of Cure must include, as an attachment, a copy of the cashier's check or money order returning the funds to Debtor Pro Mold’s Debtor in Possession bank account and proof that the returned funds were deposited in to Debtor Pro Mold’s Debtor in Possession bank account. (Cash Collateral Order page 5, paragraph E)

e) If the default is Debtor Pro Mold incurring an obligation relating to non-budgeted items including capital improvements, without the prior written approval of the Murphy Entities or the Court’s prior written authorization, the Notice of Cure must include, as an attachment, documentation to establish that Debtor Pro Mold has been released from the incurred obligation. (Cash Collateral Order, Page 5, paragraph E)

f) If the default is Debtor Pro Mold failing to “make all other post-petition payments to the Murphy Entities pending further Order of the Court”, the Notice of Cure must include, as an attachment, a copy of the cashier’s check or money order delivered by Debtor Pro Mold to the attorney for the Murphy Entities. (Cash Collateral Order, Page 5, paragraph H)

g) The other post-petition payments listed in the Budget that must be paid to the Murphy Entities are as follows:

(1) John P. Murphy, III Trust Note No. 1 $3,088

(2) John P. Murphy, III Trust Note No. 2 $9,619

(3) John P. Murphy, III Trust Note No. 3 $4,740

(4) 10315 LLC (monthly rent) $12,479.41 (component of rent line item)(The Court did not rule on the Murphy Entities request that the $125,000 payment that was due on April 16, 2007 be escrowed and reserved this matter for the final hearing on Debtor Pro Mold’s Motion to Use Cash Collateral.)

If Debtor Pro Mold fails to cure the default within five (5) days of the e-mailing of the Notice of Breach, the Murphy Entities shall tender a proposed Order to the Court and the Court will take the matter under submission to consider immediate entry of an order appointing a Chapter 11 Trustee in either or both cases.

COPIES TO:
Dean A. Langdon, Esq.
John P. Brice, Esq.
Rebecca Case, Esq.
Gregory R. Schaaf, Esq.
Rachelle C. Williams, Esq.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The affixing of this Court's electronic seal below is proof this document has been signed by the Judge and electronically entered by the Clerk in the official record of this case.
Signed By:
William S. Howard
Bankruptcy Judge
Dated: Friday, August 31, 2007
(wsh)