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Re: Nowak488 post# 44283

Friday, 12/02/2016 2:23:36 PM

Friday, December 02, 2016 2:23:36 PM

Post# of 47873
Aren't the CIC payments based on net proceeds (that is the sale price minus the debt)? I am basing that on the paragraph below from the info on the CIC paymment, so it would be less than you calculate, I think. Not that they deserve it, but at least it's far less than what it would be if it were based on the sale price.

"In the Amended Plan, Net Proceeds is defined as the aggregate consideration paid in connection with a Change of Control, after payment of (i) all secured indebtedness of the Company and any controlled subsidiary, together with all accrued but unpaid interest thereon and all other obligations related thereto, including without limitation all indebtedness owed to DMRJ Group, LLC, and to the holders of promissory notes issued pursuant to that certain Note Purchase Agreement dated as of March 19, 2014, between the Company and certain other parties thereto, and (ii) all other obligations and liabilities of the Company and any Controlled Subsidiary, including all expenses related to such Change of Control"

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