Replies to post #20451 on Sears Holdings Corp. (fka SHLDQ)

[linda1]

I have not read any references specifically
to “ Senior “ Second Lien Obligations. And I
agree that Term was likely added for effect.


Yes I think there are others on the list to
receive the Series B Preferred Units from SHC.
I just think it is amusing if ESL receives some
of the Securities Consideration. Like it has
to have its hand in all of the cookie jars?

[linda1]

I think I may be correct with respect to the
Senior Second Lien Obligations being part of the
Credit Bid.


DOCKET 2507 - PG 10 -


“ The Second Lien Consent binds all parties
holding debt under the Second Lien Term Loan,
Second Lien Line of Credit Facility and Second
Lien PIK Notes in their capacity as such
(collectively, the “Senior Second Lien Creditors”,
and their claims against the Debtors under such
debt document, the “Senior Second Lien Claims”).

The Senior Second Lien Claims shall be deemed
allowed for all purposes in these chapter 11 cases
and under the Bankruptcy Code, as reduced by
any amounts included in the Credit Bid. “