imo i was over-thinking it. any lender on board now, no matter what lien they have on an asset, is no longer in line for that if they are paid in full.
so let's say the senior debt facility we're currently negotiating goes through. that cash will be used to pay off all the current lenders, and then the new lender has lien on the assets.
this shouldn't be complicated at all. and knowing what we do about VM-179, montecito stands to gain quite a lot from settling with us. i'd want a good chunk of our equity, too, post split.
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