PART 250—GUARANTEE OF CERTIFICATES OF TRUSTEES OF RAILROADS IN REORGANIZATION
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(a) As to the Trustee:(1) Full and correct name and principal business address.(2) The name and address of the reorganization court under the direction of which the Trustee is acting and the docket number of the proceeding.(3) Name, title, and address of the person to whom correspondence regarding the application should be addressed.(4) Brief description of the loan and its purpose or purposes, including statements
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There shall be filed with and made apart of each application and copy thereof the following exhibits, except that exhibits filed with the Administrator pursuant to some other statutory provision or regulation which are in the same format as the following exhibits may be incorporated in and made part of the application filed under this part by reference. While the application is pending, when actual data become available in place of the estimated or forecasted data required in the exhibits under this part, such actual data must be reported promptly to the Administrator in the form required in the appropriate exhibit.
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(a) The following exhibits are required concerning the Trustee and the carrier:(1) As Exhibit 1, copy of duly certified order of the court, or instrument of appointment, appointing trustees of the carrier.
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(a) The following exhibits are required concerning the Trustee and the carrier: (2) As Exhibit 2, a certified copy of the order(s) of the reorganization court having jurisdiction of applicant authorizing(i) the filing of the application with the Administrator for a guarantee of the Trustee’s certificate; (ii)filing of the application with the Interstate Commerce Commission for authority to issue a Trustee’s certificate;(iii) such pledge of security for the loan and the guarantee as the applicant proposes in connection with Exhibit 3; and(iv) compliance by the Trustee with conditions to the guarantee imposed bylaw and the Administrator.
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(a) The following exhibits are required concerning the Trustee and the carrier:(3) As Exhibit 3, full and complete statement, together with supporting evidence, that the probable value of the assets of the railroad in the event of  liquidation provides reasonable protection to the United States
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(a) The following exhibits are required concerning the Trustee and the carrier:(4) As Exhibit 4, a map of the carrier’s existing railroad
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(a) The following exhibits are required concerning the Trustee and the carrier:(5) As Exhibit 5, statement showing miles of line owned; miles operated;number of units of locomotives, freight cars, and passenger cars owned and leased; principal commodities carried;and identification of the ten most important industries served.
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The following exhibits are required concerning the Trustee and the carrier:(6) As Exhibit 6, statement as to whether any railroad affiliated with the carrier has applied for or received any Federal assistance since 1970
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The following exhibits are required concerning the Trustee and the carrier: (7) As Exhibit 7, statement showing total dividends, if any, declared and total dividends paid for each of the last 5 calendar years and for each month of the current year to latest available date.
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The following exhibits are required concerning the Trustee and the carrier: As Exhibit 8, a copy of applicant’s most recent year-end general balance sheet certified by applicant’s independent public accountants, if available,and a copy of applicant’s most recent unaudited general balance sheet as of a date no less recent than the end of the third month preceding the date of the filing of the application.
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The following exhibits are required concerning the Trustee and the carrier: (9) As Exhibit 9, a copy of carrier applicant’s report to its stockholders or report of the trustee for each of the 3 years preceding the year in which the application is filed
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The following exhibits are required concerning the Trustee and the carrier:As Exhibit 10, applicant’s most recent annual income statement certified by applicant’s independent public accounts if available, and a spreadsheet showing unaudited monthly and year-to-date income statement data for the calendar year in which the application is filed in account form similar to that required in column (a) of Schedule 300 of annual report R–1 or R–2 as appropriate.For those months preceding and ending upon the date of the unaudited balance sheet presented in Exhibit 8, the income statement shall be reported on an actual basis and so noted. For those months between the dates of the unaudited balance sheet and the filing of the application, the income statement data shall be reported on an estimated basis and so noted and shall be submitted in conjunction with corresponding estimated month-end balance sheets. For those months between the date of the application and the end of the year income statement data shall be presented on a forecasted basis and so noted and shall be submitted in conjunction with a forecasted balance sheet as at the year end.
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The following exhibits are required concerning the Trustee and the carrier: (11) As Exhibit 11, spread sheets showing for each of the four years subsequent to the year in which the application is filed, both before and after giving effect to the proceeds of the assistance required in the application
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The following exhibits are required concerning the Trustee and the carrier: 12) As Exhibit 12, a spread sheet showing changes in financial position for the year in which the application is filed in account form and detail as required in Schedule 309 of annual report R–1 and R–2
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The following exhibits are required concerning the Trustee and the carrier: (13) As Exhibit 13, a spread sheet showing forecasted changes in financial position for each of the four calendar years subsequent to the year in which the application is filed, both before and after giving effect to any funds requested in the application and including a statement showing the bases for such estimates, in account form and detail as required in Schedule 309 of the annual Report R–1 for Class I railroads in similar form and detail for Class II railroads
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(14) As Exhibit 14, a statement showing actual cash balance at the beginning of each month and the actual cash receipts and disbursements during each month of the current year to the date of the latest balance sheet furnished as Exhibit 8, together with a monthly forecast (both before and after giving effect to use of proceeds from the proposed loan) for the balance of the current year and the year subsequent thereto.
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(15) As Exhibit 15, a general statement setting forth the facts as to estimated prospective earnings and other funds upon which applicant relies to repay the loan
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(1) As Exhibit 16, copies of correspondence from all, and not less than three, lending institutions or security underwriters to which application for the financing has been made, evidencing that they have declined the financing unless guaranteed by the Secretary or specifying the terms upon which they will undertake the financing without such guarantee
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As Exhibit 17, specimens, or forms where specimens are not available, of all securities to be pledged or otherwise issued in connection with the proposed loan; and in case of mortgage, a copy of the mortgage or indenture
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As Exhibit 18, copies of the loan agreement entered into, or to be entered into, between the Trustee and lender, and of any agreements or instruments executed or be executed in connection with the proposed loan
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On date of final payment of the loan guaranteed by the Secretary pursuant to application filed under this part, the applicant carrier or the trustee, if still in existence, shall pay, or cause to be paid, to the Administrator as a guarantee fee such amount as the Administrator hereafter may determine and prescribe as necessary to cover the administrative costs of carrying out the provisions of the Emergency Rail Services Act of 1970.
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The original application and supporting papers, and six copies there off or the use of the Administrator shall be filed with the Administrator, Federal Railroad Administration, Department of Transportation, Washington,DC. Simultaneously, one copy of the application and supporting papers shall be filed with the Secretary of the Interstate Commerce Commission, Washington,DC. Each copy shall bear the dates and signatures that appear in the original and shall be complete in itself,but the signatures in the copies may be stamped or typed.
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Final opinion by counsel for the Trustee to the effect that he is familiar with the corporate powers of the carrier applicant and the orders of the reorganization court; that the Trustees of the carrier applicant are authorized to execute and deliver the certificate or other obligations evidencing the same, and to pledge and hypothecate any securities pledged as collateral;that the certificate or other obligations so executed and so delivered constitute the valid and binding obligations of the Trustees of the carrier that the certificate or other obligations of the Trustee will be treated as an expense of administration and receive the highest lien on the railroads property and priority in payment under the Bankruptcy Act, and that the lender and the Secretary will obtain a lien on any security involved of the rank and priority represented by the Trustee.Such opinion shall also cover the priority and lien of each item of the collateral offered.
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