Dime Bancorp Inc (fka DIMEQ)

[linda1]

I didn't mean that there was an ambiguity. The Warrant Agreement provides for adjustments and considerations for more than just 1 type of an Event.



I understand why the Plaintiffs are requesting a cash payment in light of the provisions in Section 4.1 (b) and 4.2 (c) of the Warrant Agreement - which basically states that if the Common Shareholders are given an election of all cash so then should the LTW Holders be given the same election.


I was simply pointing out other types of Events - Section 4.5 - such as a reorganization, which in Section 4.5 basically states that adjustments will be required so that the LTW Holders can exercise their Warrants.


I did not mean that the "totality" of the Warrant Agreement only provided for payment in WMI common stock. I meant that under Section 4.5 and the intent of the Warrant Agreement - and in the event of an reorganization - and after the required adjustments the Warrants could be exercisable for new WMI Common Stock - and yet still eligible for a cash election under Sections 4.1 (b) and 4.2 (c).