Mr. Panda,
I value your input and hope that this is useful to you and the others that have money on the line.
Perhaps this will clear the matter up. This of course is IMVHO.
I may be wrong, but I think if you read everything in this context it will make sense. IMO the lenders did not know who the target, Eclipse, was until the financing was secured and the contract was signed.
"Buyer will be merged with and into the Company, with the Company surviving such merger, in all material respects in accordance with the terms thereof (the “Acquisition”). After giving effect to the Acquisition, the Company shall become a direct or indirect wholly-owned subsidiary of WMIH."
Nationstar is the Company, the buyer is Wand Merger Corporation.
Wand was seeking funds from Jefferies,etal, to purchase "Eclispe" or Nationstar. The securing of funds did not happen over night and the target, "Eclispe",real name was not disclosed to the lenders when this financing was being arranged.
I believe that it is the Collateral offered by Wand that we should be concerned with...after all that's what Jefferies, etal was interested in and based their decisions on.