EX-10.17 3 d85648ex10-17.txt TERMINATION AGREEMENT DATED 10/24/00 1 EXHIBIT 10.17 TERMINATION AGREEMENT THIS TERMINATION AGREEMENT (this "Agreement") is entered into as of October 24, 2000 by and among Laidlaw Transportation, Inc. ("LTI"), a Delaware corporation, Greyhound Lines, Inc. ("Greyhound"), a Delaware corporation, and the subsidiaries of Greyhound listed on the signature pages hereto (collectively with Greyhound, the "Subsidiaries"). WHEREAS, LTI and the Subsidiaries are party to that certain Affiliated Companies Demand Loan Agreement dated as of March 16, 1999 (the "Loan Agreement"); WHEREAS, LTI and the Subsidiaries desire to terminate their rights and obligations under the Loan Agreement in full, effective as of the date first written above; NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, LTI and the Subsidiaries hereby agree as follows: 1. Termination. LTI acknowledges and agrees that there are no amounts owing to it under the Loan Agreement, and therefore LTI and the Subsidiaries agree that the Loan Agreement is hereby terminated and all obligations and rights of LTI and the Subsidiaries thereunder are hereby extinguished. 2. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of LTI and the Subsidiaries and each of their respective heirs and assigns. 3. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original hereof and submissible in evidence and all of which when taken together shall be deemed to be a single instrument. 4. Further Assurances. Each of LTI and the Subsidiaries agrees to execute any additional agreements or documents evidencing the termination of the Loan Agreement as any party hereto may reasonably request. 5. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS AND DECISIONS OF THE STATE OF TEXAS. [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 2 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed and delivered as of the date first set forth above. LAIDLAW TRANSPORTATION, INC. GLI HOLDING COMPANY By: /s/ IVAN R. CAIRNS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- IVAN R. CAIRNS JEFFREY W. SANDERS Senior Vice President Senior V.P. and Chief Financial Officer GREYHOUND LINES, INC. GREYHOUND DE MEXICO, S.A. DE C.V. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer ASI ASSOCIATES, INC. ATLANTIC GREYHOUND LINES OF VIRGINIA, INC. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer CAROLINA ASSOCIATES, INC. LSX DELIVERY, L.L.C. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer CAROLINA COACH COMPANY ON TIME DELIVERY SERVICE, INC. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer PEORIA ROCKFORD T.N.M. & O. TOURS, INC. BUS LINES, L.L.C. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer 3 VALLEY GARAGE COMPANY VERMONT TRANSIT CO., INC. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer SEASHORE TRANSPORTATION VALLEY TRANSIT CO., INC. COMPANY By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer SISTEMA INTERNACIONAL DE TEXAS, NEW MEXICO & OKLAHOMA TRANSPORTE DE AUTOBUSES, INC. COACHES, INC. By: /s/ JEFFREY W. SANDERS By: /s/ JEFFREY W. SANDERS ----------------------------------- ---------------------------------- JEFFREY W. SANDERS JEFFREY W. SANDERS Senior V.P. and Chief Senior V.P. and Chief Financial Officer Financial Officer