Replies to post #41066 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[JP-Stockton]

I may be wrong, but from what I am reading it is possible 140 million is the settlement, and it will be paid through earn outs until the 140 million is paid in full


(e) Allocation of Payments. All Earnout payments shall be made by OpCo
Purchaser by wire transfer of immediately available funds to one or more bank accounts
designated in writing by the Earnout Co and the Company, as applicable, as follows:
(i) first, until the aggregate amount of all Earnout
payments distributed under this Section 1(e)(i) equals
$110,000,000, 100% of such Earnout payments shall be made to
Earnout Co.;
(ii) second, until the aggregate amount of all Earnout
payments distributed under this Section 1(e)(ii) equals
$30,000,000, (i) 50% of such Earnout payments shall be made
to Earnout Co. and (ii) 50% of such Earnout payments shall be
made to the Company; and
(iii) thereafter, all Earnout payments shall be made to
Earnout Co.