Global Brokerage Inc. (GLBR)

[Green2013]

Wish I could agree with you Kraken but you are changing the wording. Here is the wording from your own link.(See below). As you can see they are just referring to sale of assets on Newcom. The company, Holdings and Newcom will pay on cash.......and then it refers to sale of assets on Newcom, there is not mention to any assets on Holdings and as you know there is another section of the agreement that clearly says that all the assets should be transferred back to Holdings once the loan is repaid. If they don't pay the loan then LUK can force the sale and keep assets of Holdings as per the table distribution.


Amended and Restated Letter Agreement

The Amended and Restated Letter Agreement provides, among other things, that Holdings and Newco will pay in cash to Leucadia and its assignees a percentage of the proceeds received in connection with certain transactions, including sales of assets (subject to certain limited exceptions), dividends or distributions, the sale or indirect sale of Newco (whether by merger, stock purchase, sale of all or substantially all of Newco’s assets or otherwise), the issuance of any debt (subject to certain limited exceptions) or equity securities, and other specified non-ordinary course events, such as certain tax refunds and litigation proceeds.......