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f WINSTON & STRAWN <br /> BIAS It WPwm Col." CMr-*4Q LUMM"Os-ru 17%WATM irnEEr <br /> #AV VOOK IW tsW1 <br /> Mt)360-6 Ma smear <br /> "MOM MOM.M.W.OMCE <br /> NEAL L WOLF ���ri�s7o0 MM L nMrX M.w <br /> (012►SSA-f2S2 +Wso cc zommw e <br /> d"are 61M <br /> August 6, 1993 <br /> Rh '!'ILE = UX" XAM <br /> James B. Holden, Esq. <br /> Holden 6 Jessop, P.C. <br /> 303 Bast 17th Avenue <br /> Suite 930 <br /> Denver, Colorado 80203 <br /> Its: in re Kid-Continent Resources, Inc. , <br /> Case No. 92 11658 (PAC) <br /> Dear Jim: <br /> On behalf of Sanwa Business Credit Corporation <br /> ('Sanwa") , we have reviewed the Debtor's P1anL dated Jhly 2, <br /> 1993, and your letter of explanation dated July 8, 1993. While <br /> we are satisfied that the Plan substantially incorporates the <br /> settlement concepts previously discussed by the Debtor, Sanwa and <br /> the creditors' committee, we have the following comments and <br /> suggestions: <br /> as provided inBankruptcyp Code S 1141.ide for <br /> ThedDebtoorge of will all debts <br /> P S nga9 <br /> in business after consummation 'of the plan• to the extent that it <br /> will be administering and coordinating reclamation and <br /> environmental remediation. <br /> (2) Paragraph 6.1 provides that cash payments to be <br /> made on the Effective Date shall be paid from Debtor's cash on <br /> hand at that time. Paragraph 1.13 provides that the Effective <br /> Date will be 30 days after entry of a Final Order. What is the <br /> total amount of cash to be paid on the Effective Date and will <br /> the Debtor have sufficient cash on hand to make those payments? <br /> The Effective Date should be re-defined to occur when the Debtor <br /> has sufficient funds. <br /> Capitalized terms in this letter which are not otherrise <br /> defined shall have the meaning ascribed to then in the Plan. <br /> Z00 ' 30dd 62oS : E61 9 9nu / <br />