ASSIGNMENT AND ASSUMPTION AGREEMENT
Exhibit 10.8
ASSIGNMENT AND ASSUMPTION AGREEMENT
This Assignment and Assumption Agreement (“Assignment and Assumption Agreement”) is made and entered into as of January 31, 2005, by and between Winstar Communications, LLC, a Delaware limited liability company (“Assignor”), and IDT Spectrum, LLC. a Delaware corporation (“Assignee”).
WHEREAS, Winstar Holdings, Inc. (“Holdings”) is the sole shareholder of Assignor and Assignee; and
WHEREAS, Holdings has decided to redeploy certain assets of Assignor by transferring them to Assignee in order to maximize their income producing value;
WHEREAS, pursuant to a Contribution Agreement between Assignor and Assignee dated as of the date hereof, Assignor has contributed the assets set forth on Schedule A hereto to Assignee (the “Assets”); and
WHEREAS, in connection with the contribution of the Assets, Assignor has agreed to transfer certain duties, obligations, liabilities and debts and Assignee has agreed to so assume the same,
NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Assignment and Assumption of Liabilities. Assignor hereby assigns and Assignee hereby agrees to assume, pay, perform, defend and discharge, all duties, obligations, liabilities and debts of every kind, character or description whatsoever with respect to, arising out of or in any way related to the Assets, including, but not limited to all liabilities under the agreements included therein, whether known or unknown, accrued, absolute, contingent or otherwise arising as of and after the date hereof.
2. Further Assurances. Upon request from either party hereto, the other party shall, at its own reasonable expense, execute and deliver such further instruments of transfer and assignment and take such other action as may be reasonably requested by the requesting party hereto.
3. Successors and Assigns. The terms and conditions of this Assignment and Assumption Agreement shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors and assigns.
4. Governing Law. This Assignment and Assumption Agreement shall be governed by, and construed in accordance with, the laws of the State of New Jersey, without regard to conflicts of laws principles thereof.
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5. Counterparts. This Assignment and Assumption Agreement may be executed in one or more counterparts, each of which shall be deemed an original and both of which together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment and Assumption Agreement as of the date first written above.
| ASSIGNOR: | ||
| WINSTAR COMMUNICATIONS, LLC | ||
| By: | /s/ Abilio Pereira | |
| Name: | Abilio Pereira | |
| Title: | CFO | |
| ASSIGNEE: | ||
| IDT SPECTRUM, LLC | ||
| By: | /s/ Joseph M. Sanon, Jr. | |
| Name: | Joseph Sanon | |
| Title: | President | |
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| Last Name | Account | Mso | 0_30 | 31_45 | 46_60 | 61_75 | 75_90 | 91_120 | ||||||||||||||
| Abc Inc | 4250513177 | 16 | $ | 4,572.80 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Abn Amro | 4258976594 | 16 | $ | 2,710.68 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| AT&T Wireless Communications | 9327172 | 16 | $ | 6,845.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Cbs Inc. | 9327075 | 16 | $ | 4,985.28 | $ | 0.00 | $ | 4,985.28 | $ | 0.00 | $ | 4,985.28 | $ | 2,757.44 | ||||||||
| Cingular | 9327030 | 16 | $ | 2,683.67 | $ | 0.00 | $ | 2,683.67 | $ | 0.00 | $ | 2,202.30 | $ | 0.00 | ||||||||
| Cingular Interactive, LP | 9327102 | 16 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Cingular Wireless | 4250562186 | 16 | $ | 3,823.56 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Cingular Wireless – Puerto Rico | 9327142 | 16 | $ | 7,077.15 | $ | 0.00 | $ | 7,077.15 | $ | 0.00 | $ | 7,077.15 | $ | 7,077.15 | ||||||||
| Detroit Smsa Limited Partnership | 932021 | 16 | $ | 1,214.40 | $ | 0.00 | $ | 1,214.40 | $ | 0.00 | $ | 1,214.40 | $ | 1,214.40 | ||||||||
| Ditco | 4250580836 | 16 | $ | 911.37 | $ | 0.00 | $ | 911.37 | $ | 0.00 | $ | 911.37 | $ | 911.37 | ||||||||
| Dps – State Of Arizona Azafis – E( | 1804 | 16 | $ | 471.74 | $ | 0.00 | $ | 471.74 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Eureka Networks | 27838716 | 16 | $ | 1,500.00 | $ | 0.00 | $ | 8,197.28 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| George Washington University | 4258981991 | 16 | $ | 2,878.16 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Hewitt Associates | 4258981977 | 16 | $ | 1,011.41 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Icg Communications Inc. | 9327005 | 16 | $ | 2,273.75 | $ | 0.00 | $ | 2,273.75 | $ | 0.00 | $ | 2,273.75 | $ | 862.50 | ||||||||
| Kas Lighting | 9327041 | 16 | $ | 406.60 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| M C I – Delta | 9327199 | 16 | ||||||||||||||||||||
| M C I Federal Systems | 9327223 | 16 | $ | 18,047.25 | $ | 0.00 | $ | 14,261.71 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| M C I Metro | 9327006 | 16 | $ | 22,455.94 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Mitsubishi Motor Sales Of Amer | 4250523603 | 16 | $ | 6,316.03 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Sprint Pcs (Ca) | 9327175 | 16 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Sprint Spectrum | 9327053 | 16 | $ | 644.00 | $ | 0.00 | $ | 644.00 | $ | 0.00 | $ | 644.00 | $ | 644.00 | ||||||||
| T Mobile U S A | 9327038 | 16 | $ | 882.60 | $ | 0.00 | $ | 882.60 | $ | 0.00 | $ | 882.60 | $ | 882.60 | ||||||||
| T Mobile Usa | 9327055 | 16 | $ | 269.63 | $ | 0.00 | $ | 269.63 | $ | 0.00 | $ | 269.63 | $ | 269.63 | ||||||||
| Twentieth Century Fox | 4250521305 | 16 | $ | 3,158.01 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Ubs Ag | 4250577515 | 16 | $ | 4,825.12 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| University Of Chicago | 5258981537 | 16 | $ | 802.73 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| Verizon Wireless | 9327045 | 16 | $ | 532.50 | $ | 0.00 | $ | 632.50 | $ | 0.00 | $ | 632.50 | $ | 632.50 | ||||||||
| Verizon Wireless – virginia | 9327025 | 16 | $ | 12,768.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| William Sonoma | 4250509785 | 16 | $ | 2,842.21 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||
| $ | 137,379.84 | $ | 0.00 | $ | 64,875.08 | $ | 0.00 | $ | 41,462.98 | $ | 54,610.59 | |||||||||||
| Private Line Summation | CONFIDENTIAL | |
| January 2005 |
| Acct. # | Company | Contract/Service Order | ||
| Spectrum | Airetel | Spectrum-pre paid | ||
| 9327172 | ATTW | Expired SO | ||
| 4250562186 | Cingular Wireless | SO | ||
| 27838716 | Eureka | SO | ||
| Spectrum | ICNT | Spectrum-pre paid | ||
| Spectrum | Islanet | Contract in DC as per Joe | ||
| GSA | MAA | Govt. svcs. | ||
| 9327199 | MCI Delta | Currently renegotiating | ||
| 9327223 | MCI Federal | Currently renegotiating | ||
| 9327006 | MCI Metro | Currently renegotiating | ||
| Spectrum | Purelink | Spectrum-pre paid | ||
| 9327038 | T Mobile U S A | SO | ||
| 4250521305 | TWENTIETH CENTURY FOX | Currently renegotiating | ||
| 9327025 | Verizon Wireless-Virginia | SO | ||
| 4250509785 | WILLIAM SONOMA | Currently renegotiating |
PL – accts remaining 2-1-05
| Site Address | City | State | Zip Code | Company Name | Lessor Name | Lessor Address | Lessor City | Lessor | Lessor Zip Code | |||||||||
| 2001 Park Pl | Birmingham | AL | 352032735 | M C I FEDERAL SYSTEM (FAA) | WHML – S Real Estate LP c/o Action Group LP | 600 Las Calinas Blvd E Suite 400 | Irving | TX | 750395646 | |||||||||
| 1000 W Lake St | Addison | IL | 601012068 | Cingular | J.D.P. Partnership | 1000 Lake St | Addison | IL | 601012086 | |||||||||
| 1001 State St | Erie | PA | 165011814 | M C I METRO (FAA) | Renaissance Centre Ltd c/o Realty Management Service | 1001 State St Suite 103 | Erie | PA | 165011814 | |||||||||
| 2000 W Grandview | Erie | PA | 165091029 | M C I METRO (FAA) | Lord Corporation | 111 Lord Dr PO Box 8012 | Cary | NC | 275117923 | |||||||||
| 10301 W Pico Blvd | Los Angeles | CA | 900642607 | TWENTIETH CENTURY FOX | Papazian Hirsch Studios, LLC | 6625 Variel Avenue Suite 200 | Canoga Park | CA | 91303-4001 | |||||||||
| 2121 Avenue Of The Stars | Los Angeles | CA | 900674010 | TWENTIETH CENTURY FOX | Fox Plaza, LLC | 2121 Avenue Of The Stars Suite 2800 | Los Angeles | CA | 9006750556 | |||||||||
| 17 State Street | New York | NY | 100041501 | Eureka – NYC | FiberNet Real Estate Services | 50 Lexington Avenue 3rd Flr | New York | NY | 100226837 | |||||||||
| 2 Wall St | New York | NY | 100052001 | Eureka – NYC | Fieldstone Capitol, Inc. | 200 Madison | New York | NY | 100163902 | |||||||||
| 39 Broadway | New York | NY | 100063003 | Eureka – NYC | 39 Cam, LLC | 42 Broadway | New York | NY | 100041617 | |||||||||
| 1402 E Sunnyside Dr | Phoenix | AZ | 850201215 | AT&T WIRELESS COMMUNICATIONS | Antenna Sites, Inc. | 7725 E Redfield Rd Suite 101 | Scottsdale | AZ | 852602984 | |||||||||
| 2001 Westmoreland St | Richmond | VA | 232303227 | Verizon Wireless – Virginia | Crown Castle GT Company, LLC | 200 Corporate Dr. | Canonsburg | PA | 15317 | |||||||||
| 3015 Dumbarton Rd | Richmond | VA | 232285831 | Verizon Wireless – Virginia | Crown Castle GT Company, LLC | 200 Corporate Dr. | Canonsburg | PA | 15317 | |||||||||
| 8006 Midlothian Tpke | Richmond | VA | 232355232 | Verizon Wireless – Virginia | Crown Castle GT Company, LLC | 200 Corporate Dr. | Canonsburg | PA | 15317 |
