I think what the Wall Street Dude was saying, was that the net deposit decribes the bond issue. But no where in the agreement does it say how much of the issue. Net Deposit may not meant the entire issue of the bonds. This is why he was saying this was a clever arrangment and something about how the attorney who wrote it should be put in jail. This was his oppinion not mine. But read further:
This Agreement is issued in connection with a Trust (specified in the Exhibit A) and the purchase of Secured Notes (the "Notes") which are described in section 2 A and which are to be purchased by the Trust pursuant to this agreement.
2A. PURCHASE OF NOTES BY CONVERSION SOLUTIONS, INC.
Conversion Solutions, Inc. may purchase some or all of the Notes in the open market or otherwise at any time, and from time to time. Simultaneously, upon such purchase, (1) the purchased Notes shall, by their terms become mandatory redeemable by the Trust as specified in a related Pricing Supplement, Prospectus Supplement and/or Prospectus and (2) the Fund this Agreement shall be permanently reduced by the same percentage as the principal amount of the Notes so redeemed bears to the sum of (i) the aggregate principal amount of all Notes issued and outstanding immediately prior to such redemption and (ii) the principal amount of the Trust Beneficial Interest related to such Notes. If Conversion Solutions, Inc., in its sole discretion, engages in such open market or other purchases, then the Trust, the Indenture Trustee in respect of Notes and Conversion Solutions, Inc. shall take such actions (including, in the case of Conversion Solutions, Inc., making the payment(s) necessary to effect the Trust's redemption of such Notes) as may be necessary or desirable the cancellation of such Notes by the Trust.
News 
Market Data 
Discover 
