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IN RE CIRCLE K CORP.

BAP No. AZ-94-1271-MeRJ. Bankruptcy No. 90-5052 PHX-GBN.

178 B.R. 803 (1995)

In re the CIRCLE K CORPORATION, Debtor. Frank F. COLLINS, Appellant, v. The CIRCLE K CORPORATION, Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Decided March 16, 1995.

Attorney(s) appearing for the Case

Leslie Ann Haacke, Phoenix, AZ, for appellant.

Susan F. Austin, El Paso, TX, for appellee.

Before MEYERS, RUSSELL and JONES, Bankruptcy Judges.

OPINION

MEYERS, Bankruptcy Judge:

I

The issue here is whether, in calculating the percentage rent it must pay under a lease agreement, The Circle K Corporation ("Circle K") should include two percent of the commissions received from the sale of lottery tickets or two percent of the gross receipts from the lottery tickets.

We hold that the lease agreement provides for the latter calculation. Therefore, we REVERSE.

II...

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