Replies to post #725050 on Mr Cooper Group Inc (COOP)

[ReikoBlack]

As another poster from BP pointed out it looks to be boilerplate language. And, the other poster from BP provided an excerpt of this similar language used by the FDIC for Advanta Bank.

Pg. 10
"SECTION IV: Waiver of Dividends and Proceeds from Litigation

To the extent, if any, that Settling Defendants are or were shareholders of the Bank or its holding company and by virtue thereof are or may be entitled to, but have not yet received, a dividend, payment , or other distribution upon resolution of the receivershjp of the Bank or proceeds in any litigation that has been or could be brought against the Federal Deposit Insurance Corporation in any capacity or against the United States based on or arising out of, in whole or in part, the closing of the Bank, or any alleged acts or omissions by the Federal Deposit Insurance Corporation in any capacity, the United States government, or any agency or department of the United States government in connection with the Bank, its conservatorship, or receivership, Settling Defendants hereby knowingly assign to the FDIC-R, upon the effective date of the releases in Section III, any and all rights, titles, and interest in and to any and aJI such dividends, payments, or other distributions, or proceeds."

https://www.fdic.gov/foia/plsa/ut-advantabankcorp.pdf

To those that signed releases and actually have Beneficial Interests in WMI, this should warm your heart. To those that didn't release or sold out, My heart bleeds for you.

SECTION III: Waiver of Dividends and Proceeds from Litigation

To the extent, if any, that Gateway is or was a shareholder of WaMu or its holding company and by virtue thereof is or may be entitled to a dividend,
payment or other distribution upon resolution of the receivership of WaMu
or proceeds in any litigation that has been or could be brought against the
Federal Deposit Insurance Corporation in any capacity or against the
United States based on or arising out of, in whole or in part, the closing
of WaMu, or any alleged acts or omissions by the Federal Deposit Insurance
Corporation in any capacity, the United States government or any agency or
department of the United States government in connection with Wamu,
its conservatorship, or receivership, Gateway hereby knowingly assigns
to the FDIR-R any and all rights, titles, and interest in and to any and all
such dividends, payments or other distributions, or proceeds.

https://www.fdic.gov/foia/plsa/10015-wamu-gatewayfirst-2022.pdf

[Boris the Spider]

Very nice Split. The stars are aligning indeed. A thing of beauty.

Escrows are golden. As corrupt and evil as things are and have been, I don't see how we can get screwed now.

Bring on Libor. And the rest.

Coattails

[BBANBOB]

SPLIT
NOBODY wastes the time paper or ink to write something into a contract unless it might be needed to be there to sue sometime down the road.