("Letter Agreements") with the trustees. The Letter Agreements imposed several conditions on the trustees' release of the mortgage liens. The first was the provision of substitute collateral in the form of a portfolio of United States Securities placed in irrevocable trusts. Burlington had already purchased such a portfolio. These trusts would have allowed Burlington to pay all bond obligations, both principal and interest, as they became due. They would absolutely guarantee Burlington's obligations to pay the bondholders; they would also nullify the bonds' hold-up value, because Burlington would have achieved its goal of releasing the Resource Properties from the liens.
The second condition was intended to protect the bondholders against the anticipated decline in the bonds' market value upon the publication of the substitution plan. It consisted of a1. Technical Field
An aspect of the present invention relates to an image forming apparatus, specifically having an intermediate transfer belt, to which a toner image is transferred from a one or more photosensitive members, and a waste toner container, which stores residues such as residual toner removed from the intermediate transfer belt.
2. Related Art
An image forming apparatus having a waste toner container, in which residual toner collected from an intermediate transfer belt is stored, is known. The waste toner container may be arranged below the intermediate transfer belt and removed therefrom through an opening, which is formed on a side surface of a chassis of the image forming apparatus. The image forming apparatus may have a secondary-transfer roller, which serves in cooperation with the intermediate transfer belt to