Austin, POR 7 specifically said that Tranches 2-5 have to be paid first before tranche 6 can be paid. TPS, old Preferred and old common are in tranche 6. Classes 16-18 are in tranche 5. So there is no IF IF IF but it is 100%.
Annex C - Item 1.01 Amendment of a Material Definitive Agreement.
Annex C to the Agreement was revised to clarify that holders of Preferred Equity Interests and Common Equity Interests will be issued Liquidating Trust Interests in Tranche 6 on account of those interests when Tranche 2 through Tranche 5 Liquidating Trust Interests have been satisfied in full, AND that the distribution to Tranche 6 will be shared 75% and 25% pro rata between claims on account of Preferred Equity Interests and Common Equity Interests, respectively.
There is no WMIH shares that will be issued for the so called S4V but the only shares that will be issued are for NSM SH and KKR. I trust the lawyers at KKR to know more about how to protect the NOL than "experts" on this board.
So you need to buy your own WMIH shares because no share will be given to you. And the sooner you buy before WMIH starts to go up, the easier it is to achieve HLCE, Let say if it takes 100K to buy enough shares to achieve HLCE when the stock goes to 10, if you wait and the stock only go up 20%, it will cost you another 20K to buy the same number of shares.
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