ML20246F736

Informs That Amounts Owed Under Promisory Note for Fiscal Yr Ending 890331 Paid,Restrictive Convenants No Longer Apply & Associate Certificates Have Been Discontinued

ML20246F736
Person / Time
Site:	BWX Technologies, 07001201, 07000364, 07000824, 07000135
Issue date:	08/23/1989
From:	Eckert J BABCOCK & WILCOX CO.
To:	Rouse L NRC OFFICE OF NUCLEAR MATERIAL SAFETY & SAFEGUARDS (NMSS)
References
NUDOCS 8908310123
Download: ML20246F736 (1)

Text

.

90 PAY Babcock & Wilcox f o __ / o /

a McDermott company pgp hww J.P. Eckert

((N P.O. Box 11165 Senior Vice President and Group Executive Lynchburg, Virginia 24506-1165 M 522 M l

August 23, 1989 Mr. L.

C. Rouse, Chief Fuel Cycle Safety Branch Division of Fuel Cycle, Medical, Academic & Commercial Use Safety United States Nuclear Regulatory Commission Washington, D.C.

20555 l

Re: License Number SNM-42, SNM-145, SNM-414, SNM-778 and SNM-1168 Financial Assurance for Payment for Decommissioning Costs

Dear Mr. Rouse:

In a letter dated March 13, 1978, Mr. George G.

Zipf, then President of the Babcock & Wilcox Company, stated that continuing assurance of Babcock & Wilcox's ability to cover the costs of decommissioning all its nuclear facilities would be provided to you.

The nature of these assurances would be first; a copy of an Officer's Certificate to the Company's lenders, under certain Promissory Note Agreements, that the Company has met all restric-tive covenants contained in the Note Agreements and second, that periodically, the Company would measure the cost of decommissioning its nuclear facilities to insure that they did not exceed the Company's working capital.

The Company has paid back the amounts owed under the above referenced Promissory Note Agreements in the fiscal year ended March 31, 1989, and the restrictive covenants therefore no longer apply and the associated certificates have been discontinued.

The Company's working capital at March 31, 1989 was significantly in excess of the estimated cost to decommission its nuclear f acil.ities.

If you have any questions related to this submittal, please advise us.

Very trul

ours, 8908310123 690823 k

h!

{DR ADOCK 0700 5

g J.\\.Eckert

(

sa;sw o. "l hfC4 de isot X tb C 62 Smin I

e h

0h D Q.l U

• ][: f/orestC kt0L*'d

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ -