ARTHUR J. GONZALEZ, United States Bankruptcy Judge
EPC Estate Services, Inc. f/k/a National Energy Production Company, as debtor and debtor in possession ("NEPCO") and Turbine Air Systems, Ltd. ("TASL"), by and through their respective counsel, do hereby stipulate (the "Stipulation and Order") as follows:
RECITALS:
A. Commencing on May 20, 2002 (the "Petition Date"), NEPCO filed a voluntary petitition for relief under chapter 11 of title 11, United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").
B. By motion, dated February 26, 2003 (the "Motion"), TASL seeks entry of an order for relief from the automatic stay to allow TASL to seek payment from Austin Energy, LLC for amounts TASL claims it is owed by NEPCO under a subcontract with NEPCO to provide three centrifugal chiller modules for inclusion in the Sand Hill Energy Center in Travis County, Texas.
C. Pursuant to a Stipulation and Order, dated March 24, 2003, the Motion is currently set for final hearing on May 1, 2003.
D. Enron North America Corp. ("ENA"), NEPCO, Enron Sandhill Limited Partnership and the City of Austin, acting by and through its electric utility department, Austin Energy, have recently agreed to settle certain disputes among them, subject to this Court's approval. The settlement contemplates a payment by Austin Energy to TASL which would resolve the Motion. NEPCO anticipates that a motion seeking approval of this settlement will be filed shortly. Pending the Court's consideration of such a motion, NEPCO and TASL desire that the stay continue in effect on the terms provided herein.
NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED by NEPCO and TASL as follows:
1. The final hearing to consider the Motion and the relief requested therein shall be adjourned from May 1, 2003 and shall be held on May 15, 2003 at 10:00 a.m., or as soon thereafter as counsel may be heard (the "Final Hearing").
2. Objections to the Motion and the relief requested therein shall be filed on or before 5:00 p.m. (New York Time) on May 12, 2003.
3. Pending the conclusion of, or as a result of, the Final Hearing and a determination under section 362(d) of the Bankruptcy Code, the automatic stay shall continue in effect with respect to TASL pursuant to section 362(e) of the Bankruptcy Code.
4. Except as expressly provided herein, the parties (including the statutory committee of unsecured creditors appointed in the Debtors' chapter 11 cases) reserve all of their respective rights, claims and defenses with respect to the Motion and the relief sought therein.
5. The Bankruptcy Court shall retain exclusive jurisdiction over all matters related to or arising under this Stipulation and Order.
6. To facilitate execution, this Stipulation and Order may be executed in as many counterparts as may be convenient or required. It shall not be necessary that the signature and acknowledgement of, or on behalf of, each party appear on each counterpart. All counterparts shall collectively constitute a single instrument. It shall not be necessary in making proof of this Stipulation and Order to produce or account for more than a single counterpart containing the respective signatures and acknowledgement of, or on behalf of, each of the parties hereto. Facsimile signatures shall be binding to the same effect as originals.
IT IS SO ORDERED: