Spacehab (SBAP) and Astrium GmbH Mutually Agree to Terminate Lease Agreement
In Today's 8-K Filing From Spacehab (Nasdaq: SPAB): On Tuesday, August 28, 2007, Spacehab, Incorporated, and Astrium, GmbH mutually agreed to terminate the lease agreement dated as of February 28, 2001 in regards to Spacehab's lease of the Integrated Cargo Carriers (ICC) assets from Astrium, GmbH. Also, we mutually agreed to terminate the lease agreement dated as of July 3, 2001 in regards to the Company's lease of the Vertical Cargo Carrier (VCC) assets from Astrium, GmbH. In order to terminate these two leases, we have mutually agreed that the Company will reimburse Astrium, GmbH $1,389,000 for the period March 1, 2007 through August 31, 2007 for the ICC assets and no financial obligations for either the ICC or VCC after August 31, 2007.
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