from the Killingtonzone

From the letter:

"The Pass was a benefit you or your predecessor in interest, received for
being an initial investor in Sherburne Corporation during the resorts
infancy. The specific language in your stock or bond certificate granted you
"a pass entitling the holder to use free all ski lifts operated by the
corporation in Killington Basin so long as the [Sherburne] corporation shall
operate in that area under the agreement with the State of Vermont." When
the resort changes ownership as part of this sale, Killington, LTD will no
longer own or operate the lifts at the resort. Thus, ar the time of the
transfer of ownership, your Pass will expire and the new Owners have no
obligation to honor your pass.

If you are wondering why the rights under your pass survived the last sale
of the resort it is because when we acquired Killington, we acquired the
stock of Sherburne Corporation's parent (which owned other resorts in
addition to Killington) and therefore Sherburne Corporation continued to
operate the resort under an agreement with the State of Vermont, unlike in
the current contemplated sale, where the new owners are acquiring the assets
of the Killington and Pico Ski Resorts."

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