Replies to post #74873 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

" Holders of the Securities"


"(b) file such proofs of claim and other papers or documents as may be necessary or advisable in order to have its claims and those of the Holders of the Securities allowed in any judicial proceedings relative to the Guarantor, its creditors or its property."

1) JPMCB hold the CTs corresponding Guarantee claim number! Waiting for payment via future settlement agreement!

2) The BNYM hold the junior subordinated notes claim numbers. The payments to the notes are being reallocated to higher LBHI classes. LBHI's TruPS has a guaranteed interest for payment in the BNYM claim numbers. A future settlement agreement will address the TRuPS guaranteed interest for payment.

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Quote:
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GUARANTEE AGREEMENT


This GUARANTEE AGREEMENT (the "Guarantee"), dated as of March 17, 2003, is executed and delivered by Lehman Brothers Holdings Inc., a Delaware corporation (the "Guarantor"), and JPMorgan Chase Bank, as trustee (the "Guarantee Trustee"), for the benefit of the Holders (as defined herein) from time to time of the Securities (as defined herein) of Lehman Brothers Holdings Capital Trust III, a Delaware statutory trust (the "Trust").
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(g) the following terms have the following meanings:

"Affiliate" has the same meaning as given to that term in Rule 405 of the Securities Act of 1933, as amended, or any successor rule thereunder.
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2.10. Guarantee Trustee May File Proofs of Claim. Upon the occurrence of a Guarantee Event of Default, the Guarantee Trustee is hereby authorized to (a) recover judgment, in its own name and as trustee of an express trust, against the Guarantor for the whole amount of any Guarantee Payments remaining unpaid and (b) file such proofs of claim and other papers or documents as may be necessary or advisable in order to have its claims and those of the Holders of the Securities allowed in any judicial proceedings relative to the Guarantor, its creditors or its property.
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http://www.sec.gov/Archives/edgar/data/806085/000104746903008869/a2105775zex-4_05.htm

[goodietime]

" BUT,,hasn't our interest been taken by higher classes? Just asking is all, I thought that was what was going on. Imho"

IF interest is STILL being paid on the CT's, regardless of the fact that the interest is diverted, Doesn't that mean that the CT's are still considered EXACTLY as the were issued?
If they are still getting paid interest based on $1,000 Face value, doesn't that imply they are still worth/being valued at $1,000??