Global Brokerage Inc. (GLBR)

[Crusen]

What you are not getting is, Newco is not named as Collateral.

Collateral is an exact term with an exact definition, in the Credit Agreement somewhere; I have forgotten exactly now.

So, there is no connection between Newco and Collateral.

The deal with Newco, and specifically LUK's equity stake and rights to force a sale, are separate and distinct from Collateral...

I hope that is clear. Nobody will find a passage in the Credit Agreement which names Newco as Collateral because it does not exist.

Happy Hunting though.

What they may find if they search hard enough is the passage which explicitly applies to Collateral.