Global Brokerage Inc. (GLBR)

[geocam]

SECURITY AND GUARANTY AGREEMENT
EX-10.4 5 mm01-2615_8ka1e104b.htm EX.10.4 - SECURITY AND GUARANTY AGREEMENT
http://www.sec.gov/Archives/edgar/data/1499912/000090951815000025/mm01-2615_8ka1e104b.htm

7.15 Termination. At such time as the Secured Obligations shall have been Paid in Full, the Collateral shall be released from the security interest created hereby, and this Security Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and the Debtors hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Debtor. At the request and sole expense of the Debtors following any such termination, the Administrative Agent shall deliver to the Debtors any Collateral held by the Administrative Agent hereunder, and execute and deliver to the Debtors such documents as the Debtors shall reasonably request to evidence such termination.

There is an end to FXCM's obligation to Leucadia. They can always refinance the continuing obligations through a third party who would probably give them a better deal because FXCM will have shown it's credit worthiness.

With the acquisition of CitiFX clients and continuing plans to grow their core business, it will not take $FXCM long to get back to sustained profitability. And that is what investors are looking for.

Don't count FXCM as down and out just yet; any company that can secure a 300 million dollar loan on one days notice can probably make a lot more money than that.